BettermentReviews of betterment.com

My new job switched to Betterment and created a duplicate account for me, because I still had an old account from my previous job. I asked Betterment to combine my accounts, they required photo IDs, I provided them, and they have not sent me a single update and it has been over a week. Are there only a handful of employees? Are they all on vacation? Do the managers sleep all day and never check that their employees are working? What could possibly excuse this kind of terrible service?

99% one star reviews. A few 5 star reviews. You know what that indicates: (a) Someone at Betterment is reading TrustPilot reviews about Betterment. (b) Instead of fixing their many problems, management at Betterment is planting 5 star reviews. I recently ran across an advertisement by Betterment. I just laughed. The Betterment management needs to address their endless internal problems before they waste their money on advertising. Their biggest problem is awful customer service. Judging by the way that the staff treats customers, it appears that working at Betterment is an unpleasant chore for the front line staff (the people who answer emails and phones). I certainly would not work there (a place where everyone is miserable). Yes, unfortunately, I am a customer of Betterment. Not sure why, given how they have treated me. However, I recommend that you take your business elsewhere.

I would avoid it all cost. I was trying to move over a wire transfer and I submitted it at 10 AM in the morning using Chase. I received confirmation that the wire went through at 10:30 AM to Betterment. I then contacted Betterment to let them know that a wire was pending. That afternoon at 4:30 PM I receive a email from Betterment confirming if I initiated the wire. I responded within a few minutes and said yes to please proceed. The next day at 11 o’clock I sent an email to confirm that they received my message because the money had not posted. Since I didn’t hear anything at 3 o’clock, I sent another message asking the status of my money and again no response. During this time I contacted Betterment also on the phone and their process of escalation is terrible. The only have their main customer service. There’s no way to really reach out to that department or get them in a messaging service or send a message to the person directly working on it. I requested my concern to be escalated and still no one called me. Also, I found out that Betterment doesn’t allow for wire transfers out. It’s only wire trenches in so your money will be stuck with them for five days not collecting interest or whatever the case while they process your request. Finally two days later I sent a message again by email advising them just to cancel the whole transaction and at that time I get a response and they’re able to cancel it. So this just shows me that my wire was there pending for two days and no one acknowledge or accepted it or saw my email confirming it originally when I sent it. The reason I decided to move from Webull to Betterment was due to Betterment promotional 4% APY. Unfortunately, it was not worth it and this experience cost me a few hundred dollars due to the amount of money I was trying to over and the amount of money I did not collect interest on.

They swept my cash reserve account (about $2300 )empty and closed it despite the fact that I reactivated the account well ahead of the deadline they set for possible escheatment. The custom service team failed to address any of my concerns or requests. Shameful and dishonest company. Definitely will file a formal complaint with the CFPB and that doesn't work out, I will file a class action lawsuit. Anyone interested in joining?

Took over 900.00 dollars out of my bank, then locked me out of my betterment account, tried customer service no help. Stay away from this company

GHETTO LONG and tedious

Considering the cost of the service compared to competitors, the customer service is lacking.

I was a Betterment customer in good standing. US resident, all documentation provided at opening, account fully verified. One day Betterment emailed asking why I had so many transactions in Mexico. I answered honestly: I travel back and forth for work. Roughly ten minutes later — not ten days, ten minutes — they closed my account, citing that I was “not a good fit for their services.” No real review. No request for more documentation. No conversation. Just a question, an answer, and a closure notice fast enough that no human could have meaningfully read my reply. My read: Betterment advertises no foreign transaction fees and ATM fee reimbursements, and they didn’t like that I was actually using those benefits. The moment my usage pattern looked like it would cost them money, I became “not a good fit.” Market the perks, dump the customers who use them. If you travel, do business across borders, or have any activity outside a stationary domestic profile, look elsewhere. Fidelity, Schwab, and SDFCU handle clients with international activity without flinching. Betterment won’t.