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.
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."
Overall | |
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FDIC Certificate # | 35014 |
Year Established | 1999 |
Employees | 392 |
Primary Regulator | FDIC |
Profit Margin | |
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Return on Assets - YTD | 8.28% |
Return on Equity - YTD | 47.45% |
Annual Interest Income | $11.5MM |
Assets and Liabilities | ||
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Assets | Q1 2023vs Q1 2022 | $1.10B$1.06B |
Loans | Q1 2023vs Q1 2022 | $580.3MM$519.6MM |
Deposits | Q1 2023vs Q1 2022 | $863.4MM$857.9MM |
Equity Capital | Q1 2023vs Q1 2022 | $197.3MM$161.8MM |
Loan Loss Allowance | Q1 2023vs Q1 2022 | $11.0MM$9.7MM |
Unbacked Noncurrent Loans | Q1 2023vs Q1 2022 | $1.0MM$2.0MM |
Real Estate Owned | Q1 2023vs Q1 2022 | $235.00K$0 |
Always verify rates and promotions with the bank or credit union. We are not Betterment; we are a rate comparison website and cannot provide official rates or promotions.
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
---|---|---|---|---|
4.50% | - | - | Betterment Everyday Cash Reserve |
Betterment is an Internet only bank and does not have branch locations. Its headquarters is located at 61 W. 23rd Street, 4th Floor - New York, NY 10010