Betterment Cash Reserve Review: A High APY for Savers Who Invest With Betterment
Competitive APY: Betterment Cash Reserve’s APY of 5.00% is significantly higher than the national average and in line with the best high-yield savings accounts. At 5.00% APY, a $10,000 balance would earn $500 in one year with this account.
Limited-time 0.50% APY bonus for new customers: When you sign up for a new Betterment Cash Reserve account on Betterment’s website, open a new account, and make a qualifying deposit within 14 days, you’ll receive an extra 0.50% APY for three months. Terms apply.
Unlimited monthly withdrawals: You won’t incur any fees for making too many monthly withdrawals from your Betterment Cash Reserve account. Though less common now than in the past, there are still many savings accounts that charge customers for taking money out more than six times per month.
No maintenance fee or minimum balance requirement: Betterment requires at least $10 to open your account, but after this, you don’t need to maintain any minimum balance or pay a monthly maintenance fee to own this account.