BettermentReviews of betterment.com

Would NOT recommend!! I regret opening an account. I opened a cash reserve and then closed my old account over 2 months ago. This week I tried to move money from my Betterment Cash Reserve to my Betterment checking. They put a hold on the transfer because until they verify the account I used to fund the cash reserve when I opened it. They took over $5k from the original account no questions asked. But now when I want to move money within Betterment accounts they need to verify the old account which is now closed!?!?! This is so frustrating. It should not be this difficult to access MY OWN MONEY. Sadly I referred my husband to Betterment as well thinking this was a good move. I feel so bad and wish I hadn't. If he has to deal with this at any point I will feel horrible for recommending them. My advice to others thinking of opening an account....RUN! DO NOT OPEN AN ACCOUNT WITH BETTERMENT!

I've tried disputing five separate issues with zero luck and every single time they make me jump through endless hoops. Despite proving I never received the items, they still refuse to refund my money. I'm so glad I had the foresight to focus on my #goldbloom .io account before things got messy. it's been the one thing that's stable right now.

I would not recommend this company. My company had issues when we cancelled and their customer support team was not responsive to emails about funds continuing to be pulled from employee accounts after cancellation.

Awful Experience. Awful Support. Awful Fees. Most painful IRA experience I have ever had. Took money out of my paycheck without my approval (I allocated 0%). Couldn't rectify it. Support does NOTHING to help. Painful and slow chat experience. Ancient bureaucratic process for IRA rollover. Didn't get that right. Lost money in the account. Took 20% of my account value in fees to do the rollover. Nearly a pure scam. Do NOT trust them with your money.

If you are a business owner, beware. Do not move your company's 401k to them. They told me it would be a maximum of 2 hours of work to do so. It is 8 months later, and I am still doing work to manually fix all the mistakes that they made during the transfer process. It has been far worse than I could have ever expected -- and it is still not over. For instance, we just learned yesterday that Betterment took thousands of dollars extra from the company and distributed it to employee accounts -- and is now clawing that money back from the employee accounts, which is needlessly upsetting employees who were paid too much. This is a completely unforced error on Betterment's part that makes my company look bad and upsets my employees.

Here's what happened and how I came to that conclusion: eMail received - I received an email from Betterment stating that my statement was available for viewing. Looked interesting - I don't remember setting up the account (in 2016 according to Betterment) but was interested in exploring further because I could have possibly done so back then and I was interested in what the company/service had to offer. Forgot Password - Clicked on the email link (after checking the URL visually) and selected "Forgot Password" to reset the password so I could view the statement. My email address is used as my user ID. Personal Security Question #1 - I was prompted with a personal security question of "What is the birth month of my oldest sibling?". I answered the question and successfully changed my password. Re-Login Using New Password - I went back to log in with the new password which worked and was then prompted to perform Two-Factor Authentication. Two-Factor Authentication (2FA) - The 2FA phone number only showed the last two digits and I recognized those digits as matching our current LANDLINE phone number. This landline number is still valid but we no longer use it, have no wired phone connected to it, and it is not compatible with 2FA messaging. Therefore, I wasn't able to use the 2FA to sign in. Called Support Rep - I called betterment support and was asked to verify myself to the rep using the same security question #1 and answer I gave online. Personal Security Question #2 - Once the first question was answered, the rep asked me to verify myself using another security question which was never asked for, nor visible, online. I answered the second security question and was verified by the rep. Link to Change 2FA Phone Number - The rep sent me another email with a link so I could change the 2FA phone number and I was able to do so online successfully. Successful Login - I was able to log into my account using the new password I had set as well as confirming the 2FA code that came across the new phone number. Changing my Personal Security Questions - Once I logged in successfully, I went to change the two personal security questions I used with the phone rep. I wanted to use different questions because the phone rep now knew the question and answer to the current personal security questions and therefore, they were no longer secure. I COULD NOT VIEW ONLINE, NOR CHANGE, THE PERSONAL SECURITY QUESTIONS JUST USED WITH THE PHONE REP! Called Support Rep Again - I called Betterment support again to inform them I couldn't find, view, or change my personal security questions online. The rep confirmed that this was the case and that she would have to create a ticket to the back office if I wanted something different. I informed the rep that because of that, the personal security questions and answers cannot be considered secure. She agreed and stated that the company takes data security very seriously. I said thank you and ended the call. CONCLUSION - Any company that is technically savvy and truly concerned about data security would not allow visibility into those personal security questions and answers. This is especially true for a company that touts its technology capabilities in performing "robo-investing" and is aware enough to do 2FA. In addition, seeing another review stating the loss of a 5-digit financial deposit without resolution. I DO NOT TRUST THIS COMPANY/PRODUCT AND WILL NOT BE USING IT!

[THIS REVIEW IS SOLELY ABOUT THE IRA ROLLOVER PROCESS VIA PAPER CHECK] I have been a Betterment customer for several years and was previously satisfied. However, this rollover experience has been unsatisfactory and has significantly reduced my confidence in Betterment’s operations. I mailed a five-figure rollover check to Betterment’s lockbox with tracking and signature confirmation. USPS tracking confirms delivery to the Irving, TX lockbox with a signature, but Betterment was unable to locate the check or credit the funds to my account. This represents a significant operational failure that requires formal reporting and investigation. * 01/22/2026 — Betterment email provides rollover instructions/lockbox mailing details. * 01/23/2026 — I confirm by email that I mailed the rollover check via USPS certified mail, with an expected arrival of 01/26/2026. * 02/02/2026 — USPS tracking indicates the package was delivered to Irving, TX 75063 and signed for (proof later forwarded to Betterment). * 02/05/2026 — I emailed Betterment with documentation to support depositing the TRS check, including a delivery screenshot. * 02/09/2026 — I emailed Betterment again with supporting documents and delivery proof. Betterment replies the same day, acknowledging the check shows as delivered, but says they’re experiencing delays in inbound rollover processing and asks for the exact check amount and whether it has been cashed. * 02/10/2026 — I provide the check amount (over $30k) and supporting scan, noting I’m unsure whether it has been cashed. * 02/13/2026 — I re-send the check amount and scan early morning. Later that day, Betterment Operations emails saying they’re investigating the delay and will try to locate the check. That evening, I sent the USPS confirmation again and asked if the check had been lost in the Irving office. * 02/18/2026 — I email Betterment again, reiterating that USPS shows delivery with signature confirmation and requesting a status update. * 02/20/2026 — Betterment Operations replies: they have not yet received the check, are working with their processing team in Texas, and note that checks can take up to 4 weeks to be received and processed (with a suggestion to consider a stop payment if preferred). * 02/23/2026 — I emailed Betterment that the check issuer indicates the check was mailed but not cashed, and I also notified Capitalize. * 02/25/2026 — I emailed Betterment requesting final confirmation before initiating a stop/reissue. Betterment replies that they cannot locate the check until it is uploaded into their system from the Texas lockbox, suggests waiting until 03/02/2026, and says they’ll keep a lookout to avoid issues if it appears after a stop request. * 03/03/2026 — Drafting this review. Summary: Betterment’s inability to reconcile a delivered, signed-for five-figure check is concerning. Improved lockbox intake controls, chain-of-custody tracking, and proactive escalation procedures for time-sensitive retirement assets are needed. If you are considering a rollover to Betterment, I recommend avoiding paper checks until they demonstrate a secure, trackable intake process.

I have tried disputing 5 things so far with ZERO luck. Every single time they have made me jump thru hoops and have yet to actually refund me money for a claim for something I didn't receive from a vendor. I really don't like this company's customer service. They suck.