Betterment: Investment App | unitQ Score

The unitQ score is the fraction of public feedback data (iOS & Android) that mentions quality issues.
100 = No Issues. 50 = Some Issues. 0 = All Issues
-4 Points Past 7 Days
Category: Finance
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Android unitQ Score
Android User Feedback
8 Reports
iOS unitQ Score
iOS User Feedback
56 Reports
User Feedback
56 Reports
8 Reports
Betterment: Investment App - Latest Quality Issues
Nov 16, 2022
Go try Fidelity or Ally unless you want to lose money
I been using betterment for over five years and it seems the only thing they do is lose money then pretend they did a great thing with their tax loss harvesting feature. You'll be better off using a different service.
Nov 16, 2022
Lacking customer service
Been with betterment for almost a decade and I'm officially pulling all my money out and never doing business with them again. 1st reason is when you transfer money from cash reserve or any other account to the checking account the transfer takes months. They then send you a message saying they can't verify the transaction when it's an internal account. 2nd reason is when you make a withdrawal they say the same thing even though I verified the external account with two small deposits. They then ask you to verify who you are with ID and statements for your external after I've already verified the account. Like guys get your stuff straight. Betterment doesn't seem to know who their customers are or what accounts are theirs. Going with fidelity who is way better.
Nov 18, 2022
Fees increased and are very high now
I've used Betterment for many years and signed up due to their marketing of low fees. Unfortunately, the company has gotten greedy and is engaging in unfair business practices. Betterment provided very short notice of an increase in fees that will substantially impact my decision to use the product going forward. If you have ever referred someone to the app in the past, I recommend reaching out to them to save your reputation. I feel very embarrassed to have invited so many people to the app just to find out they are increasing the fees so much. Make sure to transfer your money out to somewhere else before fees increase again! I initiated a transfer to Fidelity the very first day I found out and it's in progress now. Hopefully the company will realize this was an unfair and bad decision and revert course but in any case I will not be using the app anymore. I would only recommend this app if you want to lose money 📉
Nov 18, 2022
Can’t set up funding account
Moved all of my retirement savings to Betterment earlier this year after making a job change. Months later and I still haven't been able to set up a funding account to contribute towards my IRAs. Every time I connect my bank, it tells me all my accounts are ineligible. I have a checking account and a savings account, it won't let me use either even though it successfully connects to my bank. Tried contacting support and haven't received any help. That app is well designed, but the service itself and support has been disappointing and frustrating.
Nov 19, 2022
Underperformed from the beginning
Tired the general investment lost 5k in under six months. App could be better designed, navigation is not great, and wish there was more details in each account. Pretty disappointing.
Nov 20, 2022
They got you stuck with them
could be one of the worst apps ever. I can't link up a savings acct. I can't link up a checking acct through the app. Can't close the accts through the app. You got me to sign up through the app but that's all your able to do. And now they are raising their prices. How about make me more money and you will make more money. sad stuckwiththisapp
Nov 20, 2022
Fees are Ridiculous
They're raising their fees in December 2022 so you now have to deposit $250 a month or have tons of money already in the account. This is total price discrimination against the poorest users, driving customers away. They call themselves Betterment, but the only people they care about helping are the rich. I am taking all of my funds out and will be using another app. Disgusting.
Nov 22, 2022
Raised fees are way over market rates/competition
Have been using it for about two years. But after they announced a significant increase in their fees from Dec 2022 ($4/month for accounts that have less than $20,000 regardless of the actual amount), I'll be moving all my funds to another competitor's account. Besides, their "smart" portfolio has been underperforming similar index fund portfolios for months now. As the other users have already pointed out, you don't want to be losing money and then be paying a monthly subscription fee for that.
Nov 28, 2022
Joined a couple months ago and loved it! Then they announce a monthly fee so I moved my money the next day! Deuces
Betterment: Investment App - Product Description
Invest better with Betterment. Investing apps are a dime a dozen, right? So, you might be wondering why you should download this investing app. It’s simple: Betterment is built to make investing easy, with a personalized experience that fits your needs whether you’re an investor-in-training or a stock market guru. Invest your money for the things you want most, so you can live better. Join the 650,000+ people who entrust us with over $32 billion. See important disclosures in the final image above.

Investments made easy, because you’ve got a lot going on
- Sign up in 3 minutes
- Invest in expert-built portfolios of global companies
- Start investing with a $10 min deposit
- No minimum balance
- One low, annual fee of 0.25%

Save more money because duh
- Automated trading tools
- Tax saving automation
- Investments are safe and secure
- Connect outside accounts to see your big picture
- Financial advice that puts your best interest first

Personalized financial planning, because we like you just the way you are
- Investing designed for your personal savings goals
- Investment tools built for all levels of experience
- Customize your stock-and-bond risk level
- Invest in our socially responsible options
- Financial advisor - Upgrade for more personal service from an expert

Get more with Betterment
- Manage money for everyday spending with Checking
- Rewards on 1000s of brands with the Betterment Visa® Debit Card1
- Save money and earn interest on your cash with Cash Reserve
- Retirement saving with an IRA (Roth, Traditional)
- Retirement planning with a 401(k) plan for your business

The proof is in the numbers (we like those around here)
- 650,000+ clients
- $32 billion managed

See what we’re all about:
- Instagram: @Betterment
- Twitter: @Betterment

About us:

Welcome to the Betterment app! If you’re interested in saving and investing, you’re in the right place. We’re more than just a delightful investing experience with a hopeful name. Here’s why we think our saving and investing app is so much better.

As an independent digital investment advisor and fiduciary, Betterment’s mission is to help you do what’s best for your money so you can live better. Getting started takes minutes, there’s no minimum balance. You can save for specific goals or keep it general. Then you’ll invest in an expert-built stock-and-bond ETF portfolio.

Once you set up your investment goals, you can trust us to handle the details. Or, if you prefer a more hands-on approach, you can customize your portfolio, select your own ETFs, and more. 

And, as your financial advisor, we’ll give you guidance on how to make smart decisions to work toward achieving your financial savings goals along the way:

- We recommend how to invest your money and fund your savings goals over time.

- If you’re ever behind on your saving, we provide helpful nudges to get you back on track.
We also provide features that can help you save money on taxes, so you can keep more of your hard-earned money.

You can also make an impact with your investment portfolio. Our Socially Responsible Investing ESG portfolio options (Broad Impact, Social Impact, and Climate Impact) enable you to invest in stock-and-bond ETFs that support minority empowerment and gender diversity, lower carbon emissions, and the funding of green projects.

Keep track of your financial life across your short and long-term savings goals with one easy-to-use app.

Start investing with Betterment today, for a better tomorrow.

Checking accounts and the Betterment Visa Debit Card provided and issued by nbkc bank, Member FDIC. Checking made available through Betterment Financial LLC. Neither Betterment Financial LLC, nor any of their affiliates, is a bank. Betterment Financial LLC reimburses ATM fees and the Visa® 1% foreign transaction fee worldwide, everywhere Visa is accepted.

Higher bond allocations in your portfolio decreases the percentage attributable to socially responsible ETFs.
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