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Betterment Cash Reserve Account: Earn Up to

5.5% APY
(Available to New Clients)
+47 Deal Score
87,193 Views
Betterment offers New Clients an Extra 0.75% APY Boost on top of the current standard Cash Reserve rate for the rest of the year with a qualifying deposit in a Cash Reserve Account.

Thanks to community member Teslo for finding this deal.
  • Fulfill the offer by clicking on the signup link on the Betterment website, opening an individual or joint Cash Reserve account, and then completing a deposit into the Cash Reserve account within 14 days of opening it (a "qualifying deposit"), inclusive of the required settlement time (typically 2-3 business days)
  • Your Cash Reserve rate will be increased by 0.75% on top of the current standard Cash Reserve rate of 4.50% > now 4.75% ("promotional rate") from the date of your initial deposit to your Cash Reserve account through December 31, 2023 (the "promotional period")
  • Cash Reserve APY is variable and only applies to Cash Reserve accounts
  • *See site for details

Original Post

Written by
Edited July 30, 2023 at 06:06 PM by
NEW!!! Starting July 31st Standard APY is going up 4.75% that means whoever got in will get 5.5% APY after the boost!
Betterment 5.25% cash reserve account: https://www.betterment.com/affili...tner-offer
Open your first account and get an extra 0.75% APY for the rest of the year with a qualifying deposit. The current APY is 4.5% for existing customers. New customers get a 0.75% boost on top of that till Dec. 31, 2023. This means before the end of the year if their rate increases, whoever signs up now will get more than 5.25% APY.
Terms and Conditions
If you are a new Betterment client (i.e., you do not have an existing Betterment account), to qualify for an APY boost on your funds held in Betterment Cash Reserve, you must fulfill the offer by clicking on the signup link on the Betterment website, opening an individual or joint Cash Reserve account, and then completing a deposit into the Cash Reserve account within 14 days of opening it (a "qualifying deposit"), inclusive of the required settlement time (typically 2-3 business days).
If you make a qualifying deposit, your Cash Reserve rate will be increased by 0.75% on top of the current standard Cash Reserve rate of 4.50% ("promotional rate") from the date of your initial deposit to your Cash Reserve account through December 31, 2023 (the "promotional period"). Please note that the Cash Reserve APY is variable and only applies to Cash Reserve accounts or goals set to hold cash, not investments. At the end of the promotional period, your interest rate will return to the standard Cash Reserve rate at that time. APY is variable and is subject to change, including the boosted rate offered in this promotion. If you elect to exclude Cash Reserve deposits from one or more participating Program Banks, Betterment is unable to guarantee you will receive the promotional rate regardless of whether you have made a qualifying deposit.
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Created 07-16-2023 at 07:31 PM by Teslo
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Deal
Score
+47
87,193 Views
5.5% APY
These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered. Opinions expressed here are the author's alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

149 Comments

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Featured Comments

But then you have to live in FL Wink
Better to get a Treasury at 5.4% with no state taxes.
Got the 26 wk.
You money is locked for 26 weeks.
I would prefer 5.25

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Joined Apr 2015
L6: Expert
> bubble2 1,693 Posts
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passive101
07-18-2023 at 04:49 PM.
07-18-2023 at 04:49 PM.
Quote from MetalGOnlinePro :
Never heard of betterment are they legit?

Yes. I think they have the largest assets under management of any robo advisor in the country. I've used them since 2016. Zero issues.
Reply
Joined Jun 2013
L3: Novice
> bubble2 161 Posts
34 Reputation
ForTehNguyen
07-18-2023 at 06:02 PM.
07-18-2023 at 06:02 PM.
whats a "qualifying deposit" they dont define it clearly, or is it the within 14 days deposit that makes it qualifying?
Reply
Joined Dec 2013
L7: Teacher (far from it)
> bubble2 9,362 Posts
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Pro
doboy007
07-18-2023 at 07:00 PM.
07-18-2023 at 07:00 PM.
Quote from ggapropros :
The weirdest part about t-bills that no one is talking about is that the measely 5.4% is taxed as regular federal income if you dont hold it for longer than a year. like imagine investing $100,000 in tbills in january and missing this insane bull run on the market and then ALSO having it taxed as regular income if you dont hold onto it for 366 days. at 32% fed tax bracket thats just embarrassing. You walk away with about $3000 in profits. Congrats. youve not beat inflation at all.
Hindsight is 20/20. You'd be wishing you earned 5.4% if the market was the other way. Someone who invests $100k in T-bills could have way more money in the stock market already. Don't pretend like your some genius for investing in the stock market and making some money LMAO You sound like some 20 year old that just got into the stock market and got all excited for making money.
Reply
Last edited by doboy007 July 18, 2023 at 07:03 PM.
Joined Mar 2019
L5: Journeyman
> bubble2 526 Posts
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ggapropros
07-18-2023 at 07:02 PM.
07-18-2023 at 07:02 PM.
Quote from doboy007 :
Hindsight is 20/20. You'd be wishing you earned 5.4% if the market was the other way. Someone who invests $100k in T-bills could have way more money in the stock market already. Don't pretend like your some genius for investing in the stock market and making some money LMAO
real estate is much more bullet proof if you have that much money and you dont understand value investing then put it there. Its insanity to keep it parked in an "investment" vehicle that by design is not designed to beat inflation because its literally part of the federal government.
Reply
Joined Apr 2016
L1: Learner
> bubble2 23 Posts
14 Reputation
marka2016
07-18-2023 at 07:49 PM.
07-18-2023 at 07:49 PM.
Quote from JollyReward108 :
Better to get a Treasury at 5.4% with no state taxes.
Got the 26 wk.

Exactly state and local taxes
Reply
Joined Sep 2003
Worlds Most Modest Man
> bubble2 19,168 Posts
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beowulf7
07-18-2023 at 07:53 PM.
07-18-2023 at 07:53 PM.
Quote from gamingdroid :
I'm in Florida, so no state taxes on any interest! 😁
Same in Texas.
Reply
Joined Sep 2003
L5: Journeyman
> bubble2 688 Posts
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axman
07-18-2023 at 08:09 PM.
07-18-2023 at 08:09 PM.
worry about the transfer out limitation.
Reply

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Joined Nov 2007
L6: Expert
> bubble2 1,162 Posts
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cabernet
07-19-2023 at 09:39 AM.
07-19-2023 at 09:39 AM.
Quote from MerryHose8828 :
Where do you buy your t-bills?
From my Schwab account. Takes less than a minute and I can easily move funds around in my accounts. There's no fee.
Reply
Joined Nov 2007
L6: Expert
> bubble2 1,162 Posts
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cabernet
07-19-2023 at 09:43 AM.
07-19-2023 at 09:43 AM.
Quote from FarmboyHerb :
Tbill buying on E*trade is as easy as turning on a light switch…
I have both Schwab and Etrade accounts. Both are easy to buy T-bills. As you said, takes less than a minute. Last time I looked, Etrade had a $5K minimum while Schwab has a $1K minimum.
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Joined Nov 2004
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> bubble2 4,783 Posts
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whenry83
07-19-2023 at 10:14 AM.
07-19-2023 at 10:14 AM.
Quote from gamingdroid :
I'm in Florida, so no state taxes on any interest! 😁
How much is your property tax and homeowner's insurance?
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Joined Aug 2010
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gamingdroid
07-19-2023 at 10:29 AM.
07-19-2023 at 10:29 AM.
Quote from whenry83 :
How much is your property tax and homeowner's insurance?
Due to high income, much lower than if I had to pay the taxes!

I can also afford to live in a high rise condo with direct unobstructed beach view from every room. Property value has gone up drastically too and hasn't slowed down like in the rest of the country.

How about you?

What's the cost of living and life quality wherever you are?
Reply
Joined Jan 2008
L6: Expert
> bubble2 1,083 Posts
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XMotoX
07-19-2023 at 11:02 AM.
07-19-2023 at 11:02 AM.
Not worth moving money around and managing accounts just to get a boost for a measly 6 months.
Reply
Joined Nov 2004
L9: Master
> bubble2 4,783 Posts
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whenry83
07-19-2023 at 11:35 AM.
07-19-2023 at 11:35 AM.
Quote from gamingdroid :
Due to high income, much lower than if I had to pay the taxes!

I can also afford to live in a high rise condo with direct unobstructed beach view from every room. Property value has gone up drastically too and hasn't slowed down like in the rest of the country.

How about you?

What's the cost of living and life quality wherever you are?
My question was actually serious. I'm not anti-Florida. I've been to Emerald Coast and the beaches were beautiful! I live in Hawaii, lowest property tax rates in nation, but expensive everything else. I live in a condo as well. Unfortunately, the condo reserves don't earn 5.5%, so maintenance fees gotta rise.
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Last edited by whenry83 July 19, 2023 at 11:44 AM.
Joined Aug 2010
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gamingdroid
07-19-2023 at 12:04 PM.
07-19-2023 at 12:04 PM.
Quote from whenry83 :
My question was actually serious. I'm not anti-Florida. I've been to Emerald Coast and the beaches were beautiful! I live in Hawaii, lowest property tax rates in nation, but expensive everything else. I live in a condo as well. Unfortunately, the condo reserves don't earn 5.5%, so maintenance fees gotta rise.
I think my next stop is to move to Hawaii. I think that's the only other place that would top Florida in terms of beaches. However, you're on an island so everything will be expensive and I hear the locals don't like outsiders. I'd love to hear more of your experience there?

What's the best places to look for Hawaii real estate?

In terms of Flordia, housing prices has risen significantly so that's a major cost consideration now. On top of that, there's some condo legislation that will make it more expensive to live here, especially if you're in a older building (due to the Surfside building collapse). The final high cost is insurance for both auto and home. Our building got hit with double insurance cost, and that's after a 50% increase last year. I'm not even sure what's going to happen next year. The good news is that, the increase isn't as bad as someone living in a single family home as many of them also faces flood issues.

The other thing, and I'm not sure if it's because I'm in Miami, but the service here is abysmal. Medical care is hard to get good quality service. If you have children, I would not raise a child here.

In short, Florida is awesome, but you're going to pay. Government isn't taking care of the rising insurance cost, but also other factors like insurance fraud/lawsuits. DeSantis is frankly a moron and the fact that he got to power speaks of the people here.

So to answer your question, it's not cheap. It's cheaper than rest of US relative to quality of living. The people here are so so. If you have high income, then tax benefits significantly outweighs the costs.
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Joined Nov 2004
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> bubble2 4,783 Posts
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whenry83
07-19-2023 at 01:16 PM.
07-19-2023 at 01:16 PM.
Quote from gamingdroid :
I think my next stop is to move to Hawaii. I think that's the only other place that would top Florida in terms of beaches. However, you're on an island so everything will be expensive and I hear the locals don't like outsiders. I'd love to hear more of your experience there?

What's the best places to look for Hawaii real estate?

In terms of Flordia, housing prices has risen significantly so that's a major cost consideration now. On top of that, there's some condo legislation that will make it more expensive to live here, especially if you're in a older building (due to the Surfside building collapse). The final high cost is insurance for both auto and home. Our building got hit with double insurance cost, and that's after a 50% increase last year. I'm not even sure what's going to happen next year. The good news is that, the increase isn't as bad as someone living in a single family home as many of them also faces flood issues.

The other thing, and I'm not sure if it's because I'm in Miami, but the service here is abysmal. Medical care is hard to get good quality service. If you have children, I would not raise a child here.

In short, Florida is awesome, but you're going to pay. Government isn't taking care of the rising insurance cost, but also other factors like insurance fraud/lawsuits. DeSantis is frankly a moron and the fact that he got to power speaks of the people here.

So to answer your question, it's not cheap. It's cheaper than rest of US relative to quality of living. The people here are so so. If you have high income, then tax benefits significantly outweighs the costs.
HI is not perfect and it's expensive, but I feel like you get what you pay for. We have a major homeless crisis, but low crime and low gun ownership. It's actually not that expensive if you're willing to live in a small condo (600sq ft 2-bedrooms exist here) and you're frugal, which if you're on slickdeals, you should be. 90% of grocery shopping should be at Costco, which is insanely crowded any hour, any day on Oahu. Mountain and ocean activities are free. If you're not an outdoors person, you're better off on the Mainland sitting in central A/C.

Racism against whites is a real thing here, but you are unlikely to experience this to your face unless you are a surfer. This attitude is really only prevalent amongst the lower class.

Probably the only area of real estate to avoid in the entire state is East Big Island. It's cheap for a reason: lava risk and ghetto people (local and transplants).
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