", [–]iscurred​ 3 points4 points5 points 1 year ago (0 children). As a launch promotion, Betterment is offering a promotional interest rate of 2.68% through December 31, 2019 on the savings account for those who join the waitlist on the checking account. why companies like Discover and American Express offer up savings accounts. There are some limitations with external bank transfers, but I do like that it has a transparent structure … New Account Options With Betterment Earn Up To 2.69% High interest saving accounts are in high demand. [–]Whaty0urname​ 5 points6 points7 points 1 year ago (8 children). I decided to stop using Betterment and instead of having a tax implication by selling, I initiated a transfer of my betterment balance to my Vanguard account, in kind. Fed funds rate dropped by 0.01. About Betterment. Currently at 2.68%. The current 0.30% APY (as of April 23, 2020) is much … I mean that makes sense for a tech firm, but not a brokerage/asset management firm. Should I/can I/how do I initiate a charge back with my credit card? [+]Werewolfdad​ comment score below threshold-7 points-6 points-5 points 1 year ago (1 child). I'll stick to WF, but with the expectation of a rate cut potentially coming, I'll see what WF does. Customers. Yes, your Betterment LLC savings accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC). Their account will only pay interest if you pay an annual fee, and even then it's only 1.5%. Your CU likely doesn't charge you to retain low balances so you don't have to leave. They're hoping that once they've lured people in with a checking/savings account, they could be persuaded to use their investment products. The article Betterment Offers 2.69% Yield on Savings Accounts — But There's a Catch originally appeared on NerdWallet. The interest rate on the account today is actually 2.68%, so it's already lower than the rate they have plastered everywhere. No joint accounts. Fed sets the benchmark interest rate, not the actual federal funds rate that banks borrow from each other. No matter who you are, you get everything for one low, transparent fee of 0.25% (4X lower than what you'd typically pay for advice). I probably average 2-3 CC's opened in a year, which is a lot less than the churning folks. Betterment isn’t the only fintech going after the cash management market. So total is 25% stocks. Yeah I saw that after reading a bit more. While Betterment is not assessing fees from your balance, we are receiving a small portion of earned interest in the account. And yes it is a potential headache, but someone like me may enjoy this game of cat and mouse lol. More customers and growth = higher valuation = more billions when the company goes public. Remember these are still "Start-ups" and with capital borrowing expenses being at a near historic low, having users would be huge for a buy-out. They don't hold your money to invest it. I reached out to both Betterment and Fidelity - they kept passing the buck to each other until they just stopped responding altogether. [–]Devilsfan118​ 2 points3 points4 points 1 year ago (1 child). Always do your own research before acting on any information or advice that you read on Reddit. [–]c4d4 0 points1 point2 points 1 year ago (1 child). Right now my spending is still with Ally, I will wait and see if Wealthfront pulls the trigger soon before I make the leap. It's also the most significant independent robo advisor, managing more than $16 billion in assets as of 2019. I'm pretty sure M1 plans on making transfers between your various accounts instantaneous in addition to providing asset-backed, low-rate (~4%) loans which are immediately available in your checking account. [–]jodythecreator 0 points1 point2 points 1 year ago (0 children). Thanks for aggregating this here - I was missing how they were doing transfers. and join one of thousands of communities. [–]CosmosisQ 4 points5 points6 points 1 year ago (0 children). © 2020 reddit inc. All rights reserved. Coming out of this downturn in the current climate, there are accounts offering 2.5% interest now, and my savings amount has also grown a lot since the downturn. My CU does not yet show the withdrawal (but they're painfully slow about this stuff). I use my credit union for every day checking and "slush fund" savings - I keep enough in there to prevent overdraft if I time my bills wrong and to cover recurring annual stuff like car insurance. I regularly open and close those too. They say it’s Fidelity’s fault, while Fidelity maintains that they processed it as per the TOA letter from Betterment, meanwhile this sucker is out $600. They have approximately $16 billion in assets under managementas of February 2019 and a proven track record of quality automated investment management. [–]bkervick​ 7 points8 points9 points 1 year ago (0 children), [–]tehl3x 4 points5 points6 points 1 year ago (0 children). If so, it would technically be a net 2.44% and then 2.19%. 2.25% in a checking account, 0 fees and refunds all ATM fees worldwide. How do you get the mentality of saving up. I deposited it into Betterment at 8am. Also connect the accounts so you can transfer direct in case you want to reverse the decision. I chase the dragon in other ways (shoutout /r/churning) so no judgement from me. Oh i'm sure thats what they call themselves. Betterment charges a 0.25% management fee for its basic service, which it calls Betterment Digital, or 0.40% for its Premium offering. Well that's just a lie. In many cases, you can find a 12-month CD that will accrue more interest in one year than a high-yield savings account. I invested $20K, then it dropped by $2K. Whatsup with the 0.25% "pricing plan"?? [–]Creek0512​ 1 point2 points3 points 1 year ago (0 children), [–]nbm13​ 0 points1 point2 points 1 year ago (0 children). I am a bot, and this action was performed automatically. I may move money into this in a couple months. So, just a bit over one business day to complete the transfer from my CU to Betterment. You may have better luck posting in the weekly thread at the top here, instead of a 21 day old thread: r/personalfinance/comments/cpawbj/weekday_help_and_victory_thread_for_the_week_of/, [+][deleted] 0 points1 point2 points 1 year ago (0 children), Does anyone see 2.69% anywhere on their website? The initial push from losing their savings betting on the market is.... Long it takes invest my money into and out of the betterment savings reddit for! Are earning no interest withdrawal yesterday, and got a message that it would be! Guessing here, haha checking and saving accounts are insured up to 2.69 % networks like Visa Mastercard. 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