BettermentReviews of betterment.com

Don't trust these guys.

Am 75years old, not computer knowledge but tried to open account, 3 times they wanted. Me to send documents 3 times I sent, with great difficulty, then they have the nerve to claim fraudulent activity and closed the account. Nothing but a bunch of thieves

Subscribed to a plan and paid through Apple Pay with my Face ID authorization for transactions of 36 AED. After a couple of minutes, 149.99 AED were detected on my card from Betterme WITHOUT MY PERMISSION. They are stealing money in a tricky way. This is an unprofessional way to make money and grow a business. This website is a fraud. Be careful and don't subscribe to any of their plans.

I used Betterment to set up and manage a 401k for a business I sold in 2022, yet 1.5 years later the 401k has yet to be terminated after numerous requests to do so and fees continue to accrue. This is a classic "saas" company with ZERO service whose customer service, once you do hear back from them, are likely outsourced to India CS reps who have no accountability or care as to the issues at hand. Definitely worth paying more to work with a more professionally managed company.

It takes hours to get these guys on the phone. Then they transfer you a million times for simple tasks. They do not value your time! If you are a business owner value your time and find an alternative!

I am at a complete loss on how absolutely brutal this company is. They do not belong in banking and they have repeatedly held my money hostage saying that my Chase bank does not exist when I tried to transfer. There are plenty of other legitimate banks that have high APY money markets. Save yourself the danger of having your money held hostage and go with a legitimate bank.

I was speechless and startled by what I had experienced thus far! I constantly criticize myself for signing up and making investments, which causes me to lose everything. I was relieved to see my profile photo there during a difficult financial period, as it helped me recover quickly!

For a company that tries to make their account management look easy, it is excessively difficult to actually manage and move around your money, even within betterment. The best product is their savings account, which has a high APY and once you can finally get transferring to/from your primary checking account setup, it’s easy and painless. However, if you’re looking for a primary checking and bank account, betterment is not it. They have some pretty odd practices around access and a LOT of random restrictions around transferring money. They had prevented us from transferring funds within two betterment accounts because the initial transfer came from outside, and they needed my husband to verify for a second time that the move was allowed. My confirmation wasn’t enough, even though both accounts were joint and my name was on both. Worse, you can’t accept a wire transfer (so if you’re selling property, as we are selling our first home) and they can’t accept more than $50k in deposits per day. I was attracted to betterment based on their option to invest in companies that have a mission of doing good in the world. And if you want to get into investing, perhaps they are better at that. While the last few years probably aren’t a fair indicator of their ability, I had a few thousand in a low risk investment account to help save up a little faster for our move. We lost a good amount of it and the only reason I’m keeping it open is to get it back to where it was hopefully before we make our next house purchase.