Financial Samurai - Forums

General Investing => Fixed Income Focused => Topic started by: dustball on August 05, 2019, 11:43:33 AM

Title: Betterment Savings Account - 2.69%
Post by: dustball on August 05, 2019, 11:43:33 AM
Hi All,

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?
Thanks.
Title: Re: Betterment Savings Account - 2.69%
Post by: Sam on August 05, 2019, 08:41:44 PM
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.
Title: Re: Betterment Savings Account - 2.69%
Post by: dustball on August 06, 2019, 11:51:17 AM
Thanks for the input Sam.
Will open an account then.
Title: Re: Betterment Savings Account - 2.69%
Post by: myamnesia on August 07, 2019, 03:16:33 PM
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?

Thanks!
Title: Re: Betterment Savings Account - 2.69%
Post by: Jamie on August 08, 2019, 11:06:21 PM
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