• What is SmartDeposit?

    Last Updated: June 15, 2016 1:55PM EDT
    SmartDeposit is the automated cash investment tool that puts more of your money to work by investing your excess cash. That means no more manually figuring out how much to invest each month or stressing over whether you are saving enough to reach your Betterment goals. And, you have total control over the entire process with the liquidity you need. Here’s how it works:
     
    1. You tell us the maximum amount you need in your bank account.
    2. You set how much we invest at a time.
    3. At least once a week, we automatically invest any excess cash up to the amount you set.
    4. You will receive notifications before any transfers, so you can modify or cancel.
    5. You can access your money at any time, with no Betterment fees. Please keep in mind that there may be tax implications when selling your securities.

    You can read this article to learn more about SmartDeposit. 
  • How do I set up SmartDeposit?

    Last Updated: June 15, 2016 1:54PM EDT
    You can enable SmartDeposit from the Transfer tab in your Betterment account. From the Transfer tab, simply click “SmartDeposit Off” for the goal you would like to link to SmartDeposit, and follow the step-by-step setup guide. 

    You can read this article to learn more about how SmartDeposit works. 
     
  • What do you do with my bank balance information?

    Last Updated: June 15, 2016 1:54PM EDT
    When you give Betterment permission to view your bank balance, the information is used solely to determine what amount, if any, is available to invest within the limits you have set. As always, we will keep your information safe and will never share it with third parties. 
     
  • How do you calculate the amount to deposit?

    Last Updated: June 15, 2016 1:53PM EDT
    At least once per week, we will invest the minimum of:
     
    1. Your current bank balance minus the maximum bank balance you've set
    2. The maximum amount you’re willing to invest at a time

    We will never transfer more than you’re willing to invest at a time, and we will not transfer money out of your account to cause you to fall below the maximum bank balance you’ve set. 
     
  • Which goals can I link to SmartDeposit?

    Last Updated: June 15, 2016 1:53PM EDT
    You can enable SmartDeposit for one taxable goal. You cannot have multiple goals with SmartDeposit, and you cannot enable SmartDeposit on IRAs.
     
  • Will I be notified before every SmartDeposit transaction?

    Last Updated: June 15, 2016 1:52PM EDT
    Yes. We will notify you at least 24 hours before every transfer so you can modify or cancel the transaction. You will have until 10:00pm ET the day following our initial email to cancel your SmartDeposit transfer. You can also modify or cancel SmartDeposit at any time from the Transfer tab of your account. 
     
  • Can I have both SmartDeposit and auto-deposits enabled?

    Last Updated: June 15, 2016 1:48PM EDT
    Yes. We take into consideration upcoming auto-deposits when calculating how much to invest with SmartDeposit, so you never fall below the maximum bank balance you’ve set. 
     
  • How often will Betterment view my bank account?

    Last Updated: June 15, 2016 1:48PM EDT
    SmartDeposit checks your bank balance at least once a week to intelligently determine how much to invest. Our algorithms are built to ensure you are invested in the market as much as you can be, without going below the maximum bank balance you’ve set. 
     
  • How quickly can I withdraw my money from Betterment if needed?

    Last Updated: June 15, 2016 1:48PM EDT
    You can withdraw from Betterment at any time. Withdrawals usually take 4 to 5 business days.  As always, Betterment charges no fees to withdraw money from your account. Please keep in mind that there may be tax implications when selling your securities. 
     
  • What if my bank account balance changes?

    Last Updated: June 15, 2016 1:48PM EDT
    If your bank balance changes, we will take these changes into account when calculating how much to invest. If the change causes your bank balance to fall below the maximum you’ve set, we will not proceed with the transfer. We will notify you every time we view your bank balance and before each transaction. 
     
  • What if I have large expenses, either expected or unexpected, in the future?

    Last Updated: June 15, 2016 1:47PM EDT
    We know life happens, and you cannot  predict the future. You can modify or cancel your SmartDeposit at any time. If you know you have a large upcoming expense, you can disable SmartDeposit and re-enable it when you are ready. 
     
  • How is SmartDeposit different than auto-deposits?

    Last Updated: June 15, 2016 1:47PM EDT
    SmartDeposit is dynamic and calculates your ability to invest based on the settings you choose. It adjusts to your spending habits and ensures you are invested in the market as much as you can be. Auto-deposits are scheduled, set amounts that do not fluctuate based on your behavior. 
     
  • How do I turn off SmartDeposit?

    Last Updated: June 15, 2016 1:47PM EDT
    You can turn off SmartDeposit at any time from the Transfer tab of your account. Simply click “SmartDeposit On” to bring up your SmartDeposit settings and choose “Turn off SmartDeposit.”
     
  • How low can I set my maximum bank balance?

    Last Updated: June 15, 2016 1:47PM EDT
    We require that you set a bank balance of at least $1,000. We do this to help you prevent an overdraft of your account should there be other pending transactions not reflected in your bank account.
     
  • How does SmartDeposit help protect against overdrafts?

    Last Updated: June 15, 2016 1:46PM EDT
    SmartDeposit takes precautions to help protect against overdrafts. We require that you set a bank balance of at least $1,000 and will always send you emails at least 24 hours before any transaction so you can cancel or modify your SmartDeposit. However, you should consider all pending transactions that may not be reflected in your bank account. 
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