Checking accounts and the Betterment Visa Debit Card provided and issued by nbkc bank, Member FDIC. Checking made available through Betterment Financial LLC. Neither Betterment Financial LLC, nor any of their affiliates, is a bank.
4.5% And FDIC Insured To $2M
From Forbes (https://www.forbes.com/sites/emilymason/2023/05/15/the-great-yield-chase-why-a-trillion-has-fled-traditional-bank-accounts/?sh=68c7bb8213cc&cdlcid=643067c1c4fa70c7256f67f5): "Fintech pioneer Betterment, for example, offers (through its bank partners) a “cash reserve” account that currently pays 4.5% and is FDIC insured for up to $2 million (or $4 million for a joint account). A growing number of fintechs offer more than $250,000 in FDIC insurance by spreading your money around to different banks."
Beware With Withdrawl
Beware putting money in, they will take it with no issue but to withdrawal, forget about it, they are making my life difficult to take out MY money, I have already provided my drivers license, statements from funding account and they are making more excuses.
Even worse now is that they removed my money from my account, wont allow to cancel the withdrawl and are not even paying me interest on that amount until they figure out what how to proceed.
They cant do anything over phone and only send emails
Health Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 35014 |
| Year Established | 1999 |
| Employees | 388 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 4.89% |
| Return on Equity - YTD | 28.63% |
| Annual Interest Income | $24.4MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2023vs Q2 2022 | $1.13B$1.09B |
| Loans | Q2 2023vs Q2 2022 | $680.5MM$532.8MM |
| Deposits | Q2 2023vs Q2 2022 | $911.9MM$866.2MM |
| Equity Capital | Q2 2023vs Q2 2022 | $185.0MM$190.8MM |
| Loan Loss Allowance | Q2 2023vs Q2 2022 | $10.9MM$9.6MM |
| Unbacked Noncurrent Loans | Q2 2023vs Q2 2022 | $1.5MM$1.3MM |
| Real Estate Owned | Q2 2023vs Q2 2022 | $504.00K$0 |