Betterment Reviews (Written By Customers) (2024)

Tried to open account, I am,, 75 years old,, 3 times I submitted the documents they requested, I am, 75 years old and find computers difficult, after the 3 try documents they closed account for fraudulent activity,, no fraud, just my computer difficulty, don't waste your time opening account.

Customer ServiceStaff

I just wanted a simple walk-through of my Betterment account and the representative was so rude, had a sarcastic tone and was not helpful! I believe her name was Melissa. I felt so uncomfortable I had to tell her I had to go.

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Price

Betterment advertises that they are great for small business. Our experience was that we have to do all the managing and audit work constantly while they charge monthly fees, quarterly fees, fees for helping you make any changes, fees for cancelling, if they can think up a fee then you will be charged for it. Basically, they take your money, you do ALL THE WORK, they invest the funds (something you can do for free, on your own with eTrade or TD Ameritrade) and they bill you for all the nothing they do for you. If you are a small business, do yourself a favor and have this handled by your payroll company. Better yet, after what I have learned you are better off not offering a 401k at all. There are much better options these days.. AND PAY ATTENTION TO ALL THE FEES in the small print. Don't make the mistake we did.

PriceOnline & AppProcess

Betterment makes it easy to take your money but transferring out is another story. They make it extremely difficult, expensive and burdensome to do so. And they aren't transparent about how to do so on their website. They take a month to process requests. So, they continue to earn $$ on your money during that time. They charge $75 to transfer out. Will not do business again and don't recommend them. Use Vanguard and manage yourself.

Customer Service

Applied for checking account online. Had to submit several documents for address verification and ID. Account under review for 2 weeks during this process. Finally email states account approved and verified can now log in and deposit funds. After logging in again given verification questions and account back in review. Then email received stating account not approved because documents not received in time and application expired.

Customer Service

They make it super easy to deposit but if you need human help, good luck. They locked my account from me after I shared how their system made an error and made multiple deposits from my bank account. Be very careful as their platform has obvious errors and can easily leave your bank account overdrawn! No joke, their system drained my bank account and has been a nightmare to correct. Thank goodness for my bank as they pulled my money back from Betterment. So, Betterment locked me out of my account with an email. Can't talk to a human to fix it but only through email. Be very cautious with this company and their platform. Feels like a third world country in trying to work and resolve their issues with them. Very disappointed.

I opened a Betterment Account because of how many great reviews they received. They must be pure fiction. They stole more than $250 from me and won't give it back. They say they put it back in my account but my account is gone. I just want my money back and my account closed but they refuse. Beware thieves.

Customer ServiceStaff

Betterment has the absolute worst customer service of any company I’ve dealt with. They make it very difficult to manage individual account funds and it’s nearly impossible to get a live agent to speak with. They seem to be able to provide services with smaller fees but you end up paying more in the long run. Do yourself and employees a favor and take your investments to Vanguard. They actually answer the phone and help you.

Ann increased rating by 3 stars.

After a positive interaction with Betterment, Ann increased their star rating on Feb. 8, 2023.

Customer ServicePunctuality & Speed

If there is something you need done that involves customer service, it is hell. It takes weeks of effort. I am on day 12 of my current issue; the last one took six weeks to fully resolve. It is infuriated, it wastes a lot of my time, and it is just not worth it in the long run. I get similar or even slightly better returns elsewhere.