I saw that betterment provide a savings account with interest rate 2.69% if we joint for their checking account waiting list.
It looks good but just want to make sure that it's not a good to be true deal.
What do you guys think about this product?
It's a great deal. And I did mention it in my newsletter a couple weeks ago. With a 10 year bond yield tanking and the Fed cutting rates, this is the highest interest-rate I've seen. Betterment is losing money and subsidizing the savers to try to cross sell and manage more money.
It's a way of marketing. Customer acquisition cost. Worth taking advantage in my opinion.
Thanks for the input Sam.
Will open an account then.
Ally have cut their saving account rate twice recently, do you think Betterment will only offer this rate for a limited time? If so is it worth opening an account and moving money over only for the rate to drop?
Oh wow that's a great rate for a savings account!! Shame on me for still having a savings account with something like less than 0.3% interest