SmartDeposit is the automated cash investment tool that puts more of your money to work by investing your excess cash. That means no more manually figuring out how much to invest each month or stressing over whether you are saving enough to reach your Betterment goals.
Here’s how it works:
- You set a minimum (at least $1000 required) and maximum bank balance
- At least once a week, SmartDeposit checks your bank balance and automatically invests any excess cash up to the amount you set
- You will receive notifications 24 hours before any transfers, so you can modify or cancel
- If your bank balance changes and causes your balance to fall below the minimum you’ve set, SmartDeposit will not withdraw from your bank account
- If your projected balance (SmartDeposit plus any scheduled deposits) exceeds the available bank balance, SmartDeposit will not withdraw from your bank account
- SmartDeposit works alongside auto-deposit
- IRAs are not eligible for SmartDeposit
Please note SmartDeposit can only be set up for a single goal.
When you give Betterment permission to view your bank balance, the information is used solely to determine what amount, if any, is available to invest within the limits you have set. As always, we will keep your information safe and will never share it with third parties.
You can read this article to learn more about potential benefits of SmartDeposit.