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Articles in this section

Do you support multiple trust accounts?
Can you help us create a trust?
Who can access the trust account?
What documentation is required to open a trust account?
How do my clients establish a trust account on the platform?
What type of trust accounts does Betterment for Advisors support?

Do you support multiple trust accounts?

Yes, clients can add multiple trusts to their account and access all of them from a single login.

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*The annual percentage yield ("APY") on the deposit balances in Betterment Everyday Savings ("Savings") is 2.21% and represents the weighted average of the APY on deposit balances at the banks participating in Savings (the "Program Banks") and is current as of 09-20-2019. This APY is variable and subject to change daily. Deposit balances are not allocated equally among the participating Program Banks. A minimum deposit of $10 is required, but there is no minimum balance required to be maintained. The APY cited above is a Promotional APY available only to customers who join the waiting list for Betterment Everyday Checking. The APY on deposit balances of customers who choose not to join the Betterment Everyday Checking waiting list is 0.25% less than the promotional rate, and is 1.95% as of 09-20-2019, subject to change daily. Betterment Securities will receive fees in connection with deposit balances earning the non-promotional APY. See Current APY. The promotional APY is available through the end of the year and may be extended in Betterment's sole discretion. The APY available to a customer may be lower if that customer designates a bank or banks as ineligible to receive deposits.

See Betterment's Form ADV Part II and Terms and Conditions for additional information on the deposit allocation methodology.

†Betterment Everyday Savings ("Savings") is offered by Betterment LLC. Clients of Betterment LLC may participate in Savings through their brokerage account held at Betterment Securities. Neither Betterment LLC nor any of its affiliates is a bank. Through Savings, clients' funds are deposited into one or more banks ("Program Banks ") where the funds earn a variable interest rate and are eligible for FDIC insurance. Savings provides Betterment clients with the opportunity to earn interest on cash intended to purchase securities with through Betterment LLC and Betterment Securities. Savings should not be viewed as a long-term investment option.

Funds held in brokerage accounts while in transit to Program Banks are not eligible for FDIC insurance. Funds deposited into Savings are eligible for up to $1,000,000.00 of FDIC insurance once the funds reach one or more Program Banks (up to $250,000 each at up to four Program Banks). Even if there are more than four Program Banks, Clients will not necessarily have deposits allocated in a manner that will provide FDIC insurance above $1,000,000.00. The FDIC calculates the insurance limits based on all accounts held in the same insurable capacity at a bank, not just cash in Savings. If clients elect to exclude one or more Program Banks from receiving deposits the amount of FDIC insurance available through Savings may be lower. Clients are responsible for monitoring their total assets at each Program Bank, including existing deposits held at Program Banks outside of Savings, to ensure FDIC insurance limits are not exceeded, which could result in some funds being uninsured. For more information on FDIC insurance please visit www.FDIC.gov. Deposits held in Program Banks are not protected by SIPC. For more information see the full terms and conditions and Betterment LLC’s Form ADV Part II.

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‡ Checking accounts and the Betterment Visa Debit Card provided by and issued by nbkc bank, Overland Park, Kansas, Member FDIC. Funds deposited into Checking will be eligible for up to $250,000 of FDIC insurance. Betterment Everyday Checking made available through Betterment Financial LLC. Betterment Financial LLC does not charge foreign transaction fees for the use of the Betterment Visa Debit Card outside of the United States. However, Visa charges a foreign transaction fee of 1%. Betterment Financial LLC does not reimburse this 1% transaction fee on foreign ATM transactions or on any other foreign transactions or purchases.

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Betterment Everyday Checking made available through Betterment Financial LLC. Checking accounts and the Betterment Visa Debit Card provided by and issued by nbkc bank, Overland Park, Kansas, Member FDIC. Neither Betterment LLC nor Betterment Financial LLC, nor any of their affiliates, is a bank.

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