• How long does it take to transfer money?

    Last Updated: January 12, 2017 4:51PM EST
    Electronic deposits from your bank to Betterment typically invest the following trading day for deposits made before 11PM EST. This includes requests made on Saturday and Sunday. The only exception is auto-deposits that fall on weekends. If your auto-deposit falls on the weekend, it will invest on Tuesday (assuming that Monday is not a market holiday).

    Electronic withdrawals from Betterment to your bank generally take 4-5 business days due to the required sale and settlement of securities. For example, if you made a withdrawal on Monday morning, you can expect your funds the following Monday (assuming that there are no market or bank holidays in the interim). Note that your withdrawal time may also be impacted if you have made recent deposits within the previous 5 business days.

    Betterment does not guarantee specific execution timelines. We avoid trading on or around market open or close, as markets have historically been more volatile during this time. Pending wait times are imposed by banking and market rules and cannot be sped up by Betterment.
  • Is there a minimum deposit or balance?

    Last Updated: April 13, 2017 5:42PM EDT

    There is no minimum investment at Betterment, and no minimum balance. 

    One reason we have no minimum balance is to ensure that every investor can get started building wealth with both long-term and short-term goals.

    Betterment is a powerful way to put idle balances to work for you, including your safety net fund. Americans on average do not save nearly enough money, so we challenge you to deposit as much as you can comfortably afford because the more you invest the more that will grow. Note that the amount Betterment charges depends on your account balance. For more detail, look at our pricing page

  • Are there limits or fees for transactions with Betterment?

    Last Updated: April 26, 2017 11:38AM EDT
    There are no fees for transactions with Betterment - ever. There are a few limits to transactions with Betterment:
    • Deposits must be between $10-$300,000, but you can initiate multiple deposits. The maximum amount you can deposit is $300,000 every two business days. Alternatively, you can always wire funds into Betterment of any amount.
    • You must wait 60 days to withdraw an IRA Rollover deposit.
    • You can only make one allocation change per business day, as we are not a licensed day-trading account.
  • How do I add or delete a linked checking account?

    Last Updated: April 26, 2017 11:38AM EDT
    To change your linked account online, click your name at the top right hand side of your profile, then click "Settings". You can change your bank account under the "Bank Account" section of the page.

    Customers can only have one active checking account at a time linked to their Betterment account.

    Please Note: Because electronic transfer is the primary way to move money to and from your Betterment account, you will not be able to delete the link to your checking account unless you add a new one.
  • What methods of deposit do you accept?

    Last Updated: May 08, 2017 6:25PM EDT
    We only allow electronic transfers to and from your Betterment account and your checking account via the ACH network and do not accept personal checks. Electronic ACH transfers are easy, safe, and cost-effective. Wires and checks are cumbersome and can be expensive to process due to bank fees. Credit and debit cards are also expensive, and the banks/credit card companies take around 3% of your transaction. We do not accept credit or debit cards as funding sources.

    For transfers greater than $300,000, wire instructions may be generated from within the account. There is no fee from Betterment for wires, but please check with your bank for any applicable fees they may have.
  • Do you offer checks or wire transfers for deposits or withdrawals?

    Last Updated: April 26, 2017 11:41AM EDT

    Betterment does not offer check or wire transfers for withdrawals, but we do offer wire transfers for deposits into taxable goals. On the transfer page, simply click "wire transfer" near the green "New deposit" box to generate instructions. 

    The primary method of moving money to and from Betterment is electronic transfers with your checking account using the ACH network. Transferring money electronically is fast, cost-effective, and safe.  Checks and wires are cumbersome for you and expensive to process. 

    Making deposits and withdrawals with Betterment is easy as the click of a button.  From the transfer page, click "New deposit" or "New withdrawal" to begin.  
    To transfer an existing IRA or company-sponsored retirement plan such as an 401(k), click the "Roll over an IRA or 401(k)" button.


    The ACH daily electronic transfer limit is $300,000, so if your deposit is greater than $300,000, a wire transfer is required and wire instructions will appear after you click "Deposit" on the Transfer page.  You can use these instructions to wire funds from a US bank account into Betterment. Note that these wire instructions are only applicable for taxable investment accounts and should not be used as direct deposit instructions or wires from an international bank account.

  • What is two-step bank verification?

    Last Updated: April 26, 2017 11:45AM EDT
    Two-step verification is an additional layer of security. You will be prompted with verification questions or a code, generated when you attempt to log into your financial institution. This code is usually provided via email, text, or telephone by your financial institution.

    You are required to answer these verification questions or submit this code in order to be granted access to your account information. While some institutions require the use of two-step verification, others allow you to opt into it or do not offer it at all.
  • How do I transfer my account out of Betterment?

    Last Updated: August 30, 2017 4:26PM EDT
    Please reach out to your receiving institution and request paperwork from them to have your assets transferred. There are never any fees to transfer out or close your account. For your taxable accounts, we can transfer full shares directly to another institution. For all IRA accounts - funds will be automatically liquidated to cash and a check will be sent to your new institution. There is no negative tax consequence for this. 

    Your new institution will need to know your Betterment account number, which can be found on the "Settings" page of your Betterment account under "Accounts".

    The transfer paperwork should include a copy of the first page of your most recent Betterment statement, which you can find on your Activity page. 

    In addition, if you are transferring out an account valued at over $250,000, to another IRA, the transfer paperwork will need to be medallion signature guaranteed. 

    For transfers of less than $250,000 being transferred to another IRA, simply submit original transfer paperwork along with your most recent Betterment account statement.

    If you are transferring out an account valued at over $250,000 to another taxable account, the transfer paperwork will need to be medallion signature guaranteed.

    If you are transferring out less than $250,000 to another taxable account, please have your signature notarized on the transfer paperwork or have the paperwork medallion signature guaranteed, and include the first page of your most recent Betterment statement.

    The transfer paperwork can be mailed to:

    Betterment Transfers
    61 W 23rd. St
    4th Floor Reception
    New York, NY 10010

    If you are transferring out to a 401(k), the requirements are slightly different.
  • How do I transfer out my Betterment IRA into a 401(k)?

    Last Updated: April 26, 2017 11:48AM EDT
    To transfer your Betterment IRA into your 401(k) or another employer sponsored plan, we’ll need the following:
    • An acceptance letter from your new provider.
    • A copy of a Betterment account statement, which can be found on the Activity page.
    • A letter from you authorizing the rollover. This should reference the words, "I authorize the transfer of assets from my Betterment (Traditional  or Roth) IRA account into my 401(k)/employer sponsored plan".
    The transfer paperwork can be mailed to:

    Betterment Transfers
    61 W 23rd. St
    Floor 4
    New York, NY 10010

    Betterment will not assess a liquidation or transfer fee for moving your account out.

    If you are transferring your IRA into another IRA, or transferring out a taxable account, the requirements are slightly different.
  • Can I transfer my shares from an outside brokerage to Betterment?

    Last Updated: September 12, 2017 12:54PM EDT

    Betterment supports transfers from outside brokerages using the Automated Customer Account Transfer Service (ACATS). This is also known as an “in-kind transfer.” 

    For non-IRA accounts, we currently accept electronic transfers (ACATS) for select ETFs, Cash and single stocks; we do not currently accept shares of mutual funds. Each electronic transfer request is subject to review by our team. We are currently offering this feature on a limited rollout. We hope to accept a wider variety of ETFs in the future. 

    We currently accept the following ETFs: 

    BND, BNDX, CMF, EMB, IEMG, IVE, IWN, IWS, LQD, MUB, NYF, SCHB, SCHE, SCHF, SHV, TFI, VBR, VCIT, VEA, VOE, VTI, VTIP, VTV, VWO, and VWOB

    If you would like more information regarding in-kind transfers into an existing Betterment account, please contact us at support@betterment.com.

support@betterment.com
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