Betterment Cash Reserve review

Betterment Cash Reserve pays a 3.50% variable APY as of September 21, 2026, charges no fees and allows unlimited withdrawals. Its main draw for this list is deposit insurance: eligible cash is FDIC-insured up to $4 million for individual accounts or $8 million for joint accounts at Betterment's program banks, subject to conditions. New clients who make a qualifying deposit get a 0.75% APY boost on balances up to $1M through February 15, 2027, which is a much higher cap than Wealthfront's $150,000 boost limit. A $10 minimum deposit is needed for the base APY. The structure has trade-offs. Betterment is not a bank, Cash Reserve requires a Betterment Securities brokerage account, and the boosted rate ends on a set date. It ranks just behind Marcus because the base rate is the same while opening involves a brokerage account. For couples with large joint balances, few options insure as much in one login.

Who it is for

Betterment investors who want high FDIC limits

Price

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

Unlimited withdrawals. No fees.
Quoted from the vendor pricing page on November 13, 2026.

Key features

• 3.50% variable APY as of September 21, 2026
• FDIC-insured up to $4 million individual or $8 million joint at program banks
• New clients get a 0.75% APY boost on up to $1M through February 15, 2027
• Unlimited withdrawals and no fees
• $10 minimum deposit for the base APY

Strengths and weaknesses

• Strength: Highest joint FDIC limit here at $8 million
• Strength: Boost covers balances up to $1M, far above Wealthfront's $150,000
• Strength: Unlimited withdrawals
• Weakness: Requires a Betterment Securities brokerage account
• Weakness: Betterment is not a bank; insurance depends on program banks
• Weakness: The boost ends on February 15, 2027

Key facts

• Base APY: 3.50% as of 9/21/2026
• Fees: None
• FDIC coverage: $4M individual, $8M joint
• Minimum deposit: $10 for base APY

Where it ranks

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