Leading robo-advisor offering automated investing, retirement planning, and cash management with $40B+ in assets.
I like what Betterment is trying to do and the core product is good. However, I've experienced some bugs in the app, and when something goes wrong, the support is frustratingly slow. For a tech company, the technology should work flawlessly. Still use it for certain things but not ready to make it my primary.
Pros: Good core concept, innovative features
Cons: Bugs in app, slow support response
I use Betterment as a secondary financial tool alongside my main bank. For what it does, it's good. However, it can't fully replace a bank account for me. The interest rates and product range are limited. Good as a complement but not as a complete solution.
Pros: Good as secondary tool, clean interface
Cons: Can't replace a full bank, limited products
Started well with Betterment but after three months my account was flagged for review with no warning. Couldn't access my funds for two weeks while they conducted their checks. No phone support, just automated chat responses. When it works it's great, but when it doesn't you're completely stuck.
Pros: Works well when everything is normal
Cons: Account freezes, no phone support, automated responses
What Betterment does differently is think about financial products from the user\'s perspective. Everything feels designed to make my life easier rather than to generate fees. The user experience is significantly better than any bank I\'ve used. Just need them to expand their product offering further.
Pros: User-centric design, innovative features
Cons: Product range still growing
As someone who sends money internationally regularly, Betterment has saved me thousands in fees compared to traditional banks. The exchange rate is transparent, transfers are fast, and I can track everything in real-time. The multi-currency account is perfect for my needs. Absolute game-changer.
Pros: Huge savings on international transfers, transparent rates, fast
Cons: Primarily useful for international users
Betterment has completely changed how I manage my money. Their technology is genuinely innovative - not just a pretty interface but real functionality that saves me time and money. Transfers are instant, fees are minimal, and the app is beautifully designed. This is what modern finance should look like.
Pros: Innovative technology, instant transfers, beautiful design
Cons: Customer support only via app chat
Betterment has a polished, well-thought-out app with features that genuinely help. Round-up savings, instant notifications, budget categories, and free international spending are all excellent. Only drawback is that for more complex banking needs like mortgages, you still need a traditional bank.
Pros: Excellent app features, free international spending, savings tools
Cons: Limited product range compared to full banks