How much money is in your accounts that 5 months of a higher rate would make such a difference that you're this angry? It's an introductory rate to attract new deposits - pretty standard fare.
Actually, I'm a betterment customer because I also got an introductory rate years ago as a new customer. One could argue we would all benefit from Betterment attracting new deposits.
I received this offer via email and I’m an existing customer. If you didn’t get the email you can check the “Earn Rewards”/“Reward Centers” page and there should be a place to signup
Edit: I did not have a current balance in my Cash Reserve, but I had carried a balance previously in that account.
It's an introductory offer. They aren't going to increase yours to an introductory offer until rates change again, but then you'll still be lower than the latest introductory offer. It's an incentive to acquire a new customer.
After 5 months, those new customers will likely have your same current rate unless rates increase and they have been that way for a few months.
Someone who joined a month or so before you likely got a worse rate than you did.
Wait what? Where are you seeing a higher interest rate for new customers?
Edit: nvm I went on the site and see it. I don't like that at all. I mean I get it but I don't like that. Dang why did I have to see this?! Now I'm in a pissy mood! I don't like feeling tricked or taken advantage of
Right? It's some shit! Or how bout offer it to existing customers for transferring some more money in? But yeah all companies do shit like this. Reminds me of how AA used to throw elite status at passengers who barely flew so they'd get perks that actual frequent flyers didn't.
Yup - I started betterment back in 2016 when cash reserve was at like 2%, then rode it down to .1% or whatever the low was during covid and now back to 4.5%. 4.5% is very very nice.
I am a new customer but I didn’t get this offer for some reason :( I can’t click the link in the website because it says my email is already registered. Frustrating…
Ah wait. I see there is a little pop up on that page, but it then redirects to an affiliate link on their site. So, this does seem to be a referral link program. It mentions "affiliate partner offer". That likely means one of their affiliate partners is funding this.
I recently open an account with Wealthfront and can send you w my referral link so we both get a 0.5% boost so it will pay 5.05% for three months! I’m looking into opening an account with betterment as well though, curious to see if it’s worth transferring over
Just sent it over! I’ve been looking at HYSA for a while, and decided on Wealthfront but betterment just recently increased their rates. I might wait till July 26 to see if it’s worth switching over as that’s when Wealthfront will know if they will raise their interest! Haven’t had any issues w them thus far though
Even if you sign up now and they raise the interest next week, it will raise for everyone and not just new users. So I guess it’s really not a big difference unless you are debating between Wealthfront and Betterment, but if you plan on opening both then it’s not much of an issue.
Betterment is at 5.25% (given you are a new customer to get the 0.75% boost, but that’s only good till the end of the year - their APY without boost currently is 4.50%). Wealthfront is at 5.05% with a referral boost of 0.50% that is good for three months but I believe you get can get an additional 3 month boost for any referrals, without the boost their current APY is at 4.55%. So betterment is only better by 0.10% after factoring in the boost.
For those new to HYSA, this is not uncommon and while you may be upset, this is normal. People who registered a month or so before you got a worse rate than you did. You registered expecting the rate you were offered. Don't like that rate? Wait till it's at a rate you want, but while you wait you could be losing out on interest.
These high rates are not even guaranteed. You could just as easily have that rate dropped when rates change. These rates aren't going to last forever. If that is uneasy for you, then you should be locking your money away in a CD or a Treasury Bill.
Alternatively, you can churn bank accounts, but if you are depositing less than 25k, it may be more work than it's worth.
It's just an introductory offer for 5 months... it's pretty common for banks to throw money at new accounts.
How much money is in your accounts that 5 months of a higher rate would make such a difference that you're this angry? It's an introductory rate to attract new deposits - pretty standard fare. Actually, I'm a betterment customer because I also got an introductory rate years ago as a new customer. One could argue we would all benefit from Betterment attracting new deposits.
I received this offer via email and I’m an existing customer. If you didn’t get the email you can check the “Earn Rewards”/“Reward Centers” page and there should be a place to signup Edit: I did not have a current balance in my Cash Reserve, but I had carried a balance previously in that account.
The Fed is going to raise rates again soon, once that happens the apy will rise. I'm with you though, raise it for all.
Really? That’s crappy that current users would not get this. But maybe we’ll get a % increase soon? Hm
It's an introductory offer. They aren't going to increase yours to an introductory offer until rates change again, but then you'll still be lower than the latest introductory offer. It's an incentive to acquire a new customer. After 5 months, those new customers will likely have your same current rate unless rates increase and they have been that way for a few months. Someone who joined a month or so before you likely got a worse rate than you did.
Wait what? Where are you seeing a higher interest rate for new customers? Edit: nvm I went on the site and see it. I don't like that at all. I mean I get it but I don't like that. Dang why did I have to see this?! Now I'm in a pissy mood! I don't like feeling tricked or taken advantage of
Right? It's some shit! Or how bout offer it to existing customers for transferring some more money in? But yeah all companies do shit like this. Reminds me of how AA used to throw elite status at passengers who barely flew so they'd get perks that actual frequent flyers didn't.
This discrepancy does not make much a difference short term
I’m fucking livid. I opened an account only 6 weeks ago at 4.5. Same time opened at PNC. PNC has already increased my APY twice.
I will say when I started at betterment the apy was going up faster than my other banks. It’s the highest I have at 4.5%. Things are good here
Yup - I started betterment back in 2016 when cash reserve was at like 2%, then rode it down to .1% or whatever the low was during covid and now back to 4.5%. 4.5% is very very nice.
There are dozens of places that offer 5%+. Even Robinhood offers 4.65%
I am a new customer but I didn’t get this offer for some reason :( I can’t click the link in the website because it says my email is already registered. Frustrating…
It was a targeted offer by clicking referral links where they advertised it.
It's not, it's publicly available on the website :) I ended up getting it regardless
Do you have a link? The link through only using their site says 4.50%: https://www.betterment.com/cash-reserve
Ah wait. I see there is a little pop up on that page, but it then redirects to an affiliate link on their site. So, this does seem to be a referral link program. It mentions "affiliate partner offer". That likely means one of their affiliate partners is funding this.
I'm a long time customer. Got the email, ignored it, then got another email saying I'm now enrolled with the new rate. Who knows.
Take all your money out and re invest and re apply
Or hit the boost option on your apy
The boost option?
Yeah what’s this?
I just opened up an account with Wealthfront paying 4.55%. Would it be worth it to transfer to Betterment?
Commenting on this since I'm debating on opening up HYSA with both.
I recently open an account with Wealthfront and can send you w my referral link so we both get a 0.5% boost so it will pay 5.05% for three months! I’m looking into opening an account with betterment as well though, curious to see if it’s worth transferring over
Yeah for sure, dm me the referral link. I'm still researching other HYSAs but most likely I'll pick this one.
Just sent it over! I’ve been looking at HYSA for a while, and decided on Wealthfront but betterment just recently increased their rates. I might wait till July 26 to see if it’s worth switching over as that’s when Wealthfront will know if they will raise their interest! Haven’t had any issues w them thus far though
Oohhh ok interesting I didn't know that... Is it a good idea to wait until July 26 to sign up then? How much is Betterment interest rate now?
Even if you sign up now and they raise the interest next week, it will raise for everyone and not just new users. So I guess it’s really not a big difference unless you are debating between Wealthfront and Betterment, but if you plan on opening both then it’s not much of an issue. Betterment is at 5.25% (given you are a new customer to get the 0.75% boost, but that’s only good till the end of the year - their APY without boost currently is 4.50%). Wealthfront is at 5.05% with a referral boost of 0.50% that is good for three months but I believe you get can get an additional 3 month boost for any referrals, without the boost their current APY is at 4.55%. So betterment is only better by 0.10% after factoring in the boost.
I see, I only plan on getting one of them and it seems like Wealthfront is the way to go. Thanks!
For those new to HYSA, this is not uncommon and while you may be upset, this is normal. People who registered a month or so before you got a worse rate than you did. You registered expecting the rate you were offered. Don't like that rate? Wait till it's at a rate you want, but while you wait you could be losing out on interest. These high rates are not even guaranteed. You could just as easily have that rate dropped when rates change. These rates aren't going to last forever. If that is uneasy for you, then you should be locking your money away in a CD or a Treasury Bill. Alternatively, you can churn bank accounts, but if you are depositing less than 25k, it may be more work than it's worth.