Betterment Checking Review
Betterment Checking isn't available on Finder right now.
- Fee
- $0 per month
- Minimum deposit to open
- $0
Our verdict
A free mobile checking account with unlimited ATM reimbursements and cashback rewards.
The Betterment Checking account charges no monthly fee, has no minimum deposit requirement and offers unlimited ATM reimbursements worldwide. Plus, it earns up to 5% cash back at participating retailers when you use your Betterment debit card. But the account is missing a few key banking features, such as the ability to perform wire transfers or deposit cash.
Best for: Those looking for a free checking account with unlimited ATM reimbursements and cashback rewards.
Pros
-
No monthly fee
-
Up to 5% in cashback reward offers
-
No minimum opening deposit
-
Unlimited ATM reimbursements worldwide
Cons
-
No wire transfers or cash deposits
-
Low withdrawal limits
Who is Betterment Checking best for?
Given the lack of traditional banking features, Betterment Checking is best for those who want a digital banking app that allows for basic spending and debit card usage, while also allowing for cash back at select retailers.
It also proves useful for frequent travelers: Betterment refunds all fees associated with ATM usage worldwide, including the conversion fee. This is a relatively rare find on a debit card as most banks typically charge this fee. Plus, it has a low 0% foreign transaction fee.
What we like about Betterment Checking
Betterment Checking is now issued through NBKC Bank, Member FDIC, which means funds are protected under FDIC deposit insurance.
Few fees
The Betterment Checking account’s biggest asset is its overall lack of fees and requirements. There are no monthly fees, no minimum opening deposit requirements, and all ATM fees are reimbursed no matter where you’re using your debit card.
Plus, there are also no overdraft fees. If you make a purchase with insufficient funds, Betterment alerts the vendor and the transaction is denied.
Cashback rewards
On top of a lack of fees, Betterment offers up to 5% in cashback rewards when you use its debit card at any of its participating retailers. Betterment appears to show personalized offers in-app, and only a few retailers are named, including Costco and Sam’s Club.
What could be better
The Betterment Checking account lacks a number of typical banking features, including the ability to offer cashier’s checks or money orders, perform wire transfers of any kind or deposit cash at an ATM. The account is also saddled with rather low withdrawal limits: $510 limit on ATM withdrawals and a $2,000 limit for debit card and bank transfer transactions.
If you’re after an interest-bearing checking account with more ways to make deposits and withdrawals, compare other checking accounts before you decide.
Betterment Checking fees and access
| Type of fee | Fee details |
|---|---|
| Monthly service | $0 |
| Opening deposit | $0 |
| ATMs | Reimbursed worldwide |
| Debit card fees | None |
| Overdraft or nonsufficient funds | N/A |
| Wire transfers | N/A |
Betterment Checking customer reviews and ratings
| BBB accredited | Yes |
|---|---|
| BBB rating | A- |
| BBB customer reviews | 1.35 out of 5 stars, based on 17 customer reviews |
| Trustpilot score | 1.4 out of 5 stars, based on 68 customer reviews |
| Customer reviews verified as of | 13 August 2026 |
Betterment has few customer reviews online. It is accredited by the Better Business Bureau (BBB), and it only has a handful of customer reviews on that organization’s website. On Trustpilot, Betterment has a low Trustpilot rating (on an unclaimed profile) with only a few reviews.
There have been a few discussions about Betterment on Reddit, with several customers noting the checking account is simple but effective at what it sets out to accomplish.
Compare Betterment Checking with other checking accounts
Narrow down top checking accounts by fees, minimum opening deposits and more to find the best account for your financial goals. Select Compare for up to four products to see their benefits side by side.
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How we picked theseWhat is the Finder Score?
The Finder Score crunches over 300 checking accounts from hundreds of financial institutions. It takes into account the product's monthly fees, overdraft fees, opening deposit, customer support options, ATM network and features — this gives you a simple score out of 10.
To provide a Score, Finder’s banking experts analyze hundreds of checking accounts against what we consider is the best option: no monthly fees, no overdraft fees, a large ATM network of 50,000 or more, additional features outside of typical banking services, and the optional perk of earning interest. Accounts that are nearly free to maintain and use are scored the highest, while accounts with costly fees and few features are scored the lowest.
Finder Scores: What they mean
If you want peace of mind, this rating will give it to you. These products offer the best value and outcomes considering various product features, terms, conditions and price.
Well-balanced products that provide what you need, offering a healthy mix of competitive features at a good price. However, they're not quite the best in class.
Bottom line: You can find better, but these products still offer reasonable value and have the basics sorted.
These products may not offer much value in the long run, and there are better options available.
Frequently asked questions
Your reviews
Cassidy Finder
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