Betterment Cash Reserve review

Betterment Cash Reserve paid a variable 3.50% APY as of September 21, 2026, with a $10 minimum deposit to earn the base rate. Like Wealthfront, Betterment is not a bank: it sweeps eligible cash to a published list of program banks, which lets it offer FDIC insurance up to $8 million for joint accounts or $4 million for individuals, subject to conditions. You can exclude program banks, but Betterment warns that doing so may lower your coverage. Withdrawals are unlimited and there are no fees. New clients who make a qualifying deposit get a 0.75% APY boost on balances up to $1M through February 15, 2027. You can set up multiple savings goals and automate transfers toward them, and moving cash into a Betterment investing account is simple. The base rate is a touch below Wealthfront's 3.55%, and the everyday banking extras sit in a separate Betterment Checking account, so this ranks just behind it for most savers.

Who it is for

People already investing with Betterment, or savers with balances well above $250,000.

Price

$0 fees, $10 minimum deposit for the base APY; 3.50% APY as of September 21, 2026.

Unlimited withdrawals. No fees.
Quoted from the vendor pricing page on November 8, 2026.

Key features

• 3.50% variable APY as of September 21, 2026
• FDIC insurance up to $8 million joint or $4 million individual through program banks
• Unlimited withdrawals and no fees
• New clients get a 0.75% APY boost on up to $1M through February 15, 2027
• Multiple savings goals with automated tools

Strengths and weaknesses

• Strength: High FDIC coverage for large balances
• Strength: Start with $10
• Strength: Unlimited withdrawals
• Weakness: Betterment says it is not a bank
• Weakness: Boost is limited to new clients with a qualifying deposit
• Weakness: Fewer everyday banking features than Wealthfront's Cash Account

Key facts

• Base APY: 3.50% as of September 21, 2026
• Fees: $0
• Minimum: $10 for base APY
• FDIC coverage: Up to $8M joint, $4M individual
• Withdrawals: Unlimited

Where it ranks

Betterment Cash Reserve is No. 4 in our Best High Yield Savings Accounts verdict.