Betterment Everyday Savings Yields Will Blow Your Mind

The robo advisor company, Betterment recently released a new feature through its Betterment Everyday initiative. The Betterment Everyday program is one that will be of interest to banking consumers who seek higher yields for their savings accounts.

Betterment Everyday and Resolving Yield Droughts
In a risk on era, driven by low yields or negative yields and an incentivization of spending over saving, the Betterment Everyday initiative might be a breath of fresh air. Betterment has deployed a savings and checking platform as part of their investment platform. Betterment users may now save their dollars and earn up to 2.69% APY. This is a significant upgrade when compared to large banking institutions such as JP Morgan Chase and others which may only offer rates of 0.01%.

Betterment Everyday Checking Too
In addition to savings, users may also benefit by saving on ATM fees with a Betterment checking account. The firm aims to eliminate account fees, overdraft fees and requires no minimum balances.

Interested users are invited to join their wait-list for the new feature.

Security and Insurance
Interested parties may rest assured in the fact that Betterment offers FDIC insurance on $1,000,000.00 on Betterment Everyday Savings and up to $250,000 on Checking, according to their website.

Betterment and New Fintech Brings the Yield
Like N26 and other new fintech platforms, Betterment aims to get rid of unnecessary fees and bring compelling yields in otherwise dry times (for traditional savings accounts). Robinhood is also one new finance entrant that has sought to provide similar products but backed off due to regulatory uncertainty.

Players like Betterment provide a comprehensive set of financial tools that range personalized guidance to retirement planning and tax-smart investing to provide users with a new modern approach to managing their finances.

From personal investing to rollovers for 401(k)’s to Roth IRA’s, Trusts and other taxable tax deferred accounts, Betterment is an institution that may move the needle for investors.

The Betterment Everyday initiative is definitely a step in the right direction for the company as it aims to stay competitive and provide a comprehensive banking solution.