Betterment’s money market accounts are the name of the game as they are the perfect hybrid mix when you can’t decide which type of account you actually want to have. The un-bank accounts as they call them due to the financial institution’s classification give you a little bit of everything to get your personal finances in order. WIth the functionality of a deposit account, the protection of an insured savings account, and the perks of a high interest savings, there is a feature for basically everyone.
All Betterment accounts come with a cash manager or robo advisor of sorts that divides your purchases into categories. It also optimizes your spending while giving you a real time outlook on managing your cash flow. You can choose from a cash reserve which offers free transfers and an above average APR at 0.10% bonus or a checking account which provides fluctuating APRs, debit card functionality and fee free atm usage. If you need more functionality they also offer the option to transfer deposits from your existing savings institutions, brokerages and checking accounts. This is a great choice if you need an account that banks with you wherever you go .