Yes. Any cash in Betterment Everyday™ Cash Reserve is covered up to $1,000,000† in FDIC insurance once deposited into our program banks. Cash in Betterment Everyday™ Checking is covered up to $250,000 in FDIC insurance. Read more about special considerations here.
Cash Reserve is provided by Betterment LLC, which is not a bank, and cash transfers to program banks are facilitated by Betterment Securities. Checking will be provided by Betterment Financial LLC, in partnership with nbkc bank.