Betterment Checking review: Free checking with cash back rewards and no hidden fees

Written by: Beth Deyo
• Updated •1 min read
This date may not reflect recent changes in individual terms.
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Betterment checking accounts at a glance

Betterment currently offers a free online checking account with no hidden fees, a cash back rewards program and free cellphone insurance.

Is Betterment a bank?

Neither Betterment LLC, Betterment Financial LLC nor any of their affiliates is a bank. But Betterment Checking accounts are currently insured up to $250,000 per depositor through nbkc bank, which provides checking services and is a member of the Federal Deposit Insurance Corp.

Not sure if Betterment is right for you? Consider an alternative.

  • Capital One: Capital One’s 360 Checking is a free online account that allows you to get in-person help at branches and Capital One cafes. You can add cash to your account at any CVS location.

About the author: Beth Deyo is a personal finance freelance writer with a bachelor's degree in Finance from the University of South Florida. She is also a Certified Financial Planner™ with 14 years of wealth management experience. She … Read more.