Are trust Cash Reserve accounts covered by FDIC Insurance?

Yes, any cash in Cash Reserve is covered up to $2 million in FDIC insurance once deposited into our program banks†.

Although certain types of accounts, such as trust accounts may be eligible for additional FDIC insurance based on the number of beneficiaries, funds will be allocated to each program bank in such a way that provides up to $250,000 of FDIC insurance ($500,000 for joint accounts) per program bank. In the event you maintain an individual or joint Cash Reserve account and are a beneficiary of a Cash Reserve trust account, Betterment does not guarantee more than $250,000 of FDIC insurance per program bank ( $500,000 for joint accounts) across client’s multiple Cash Reserve accounts. Please see our FDIC & SIPC disclosures.