Complaints

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

• Initial Complaint

  Date:04/10/2025

  Type:Order Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  A check for a pension rollover from ******** was accidentally sent to Betterment when it was supposed to go to ****** Betterment will not send the check back to me.

  Business Response

  Date: 04/22/2025

  Thank you for contacting Betterment LLC (Betterment or the Firm) via the Better Business Bureau (BBB) regarding your *** ****** We are sorry to hear that your experience on our platform did not meet your expectations. 

  On March 10, 2025, we received a check for your benefit at our *** lockbox and, consistent with existing processes, the check was deposited. 
  
  Based on your conversation with our Operations Team, we understand that this check was sent to Betterment in error. On March 17, 2025, we confirmed via email that a new check had been mailed to the address you requested. We also noted that the estimated delivery date would be April 1, 2025. As checks are sent via **************************** (****) standard mail, we are unfortunately unable to provide tracking details.
  
  You contacted us on April 1, 2025, to report that the check had not arrived. In response, an Operations Manager confirmed that a replacement check would be issued on April 10, 2025. This date was selected to allow additional time for the original check to potentially arrive, as in many cases, original checks are delayed but ultimately deliveredrendering reissued checks uncashed.
  
  However, we expedited the process and reissued a new check on April 9, 2025, to the address you provided.
  
  We sincerely apologize for any inconvenience this may have caused and appreciate your patience throughout this process.
  
  
  
  Betterment LLC
  

  
  

  Customer Answer

  Date: 04/22/2025

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********.  The issue has finally been resolved, but the business should have been more responsive, made better efforts to resolve in a timely manner, and resolve without constant follow up by me.  It took contacting many complaint organizations to get to this point and the business should review their customer service processes.
  
  Sincerely,
  
  ****** ******
  
  
  
   
  
  

• Initial Complaint

  Date:04/09/2025

  Type:Product Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I am filing this complaint due to Betterments failure to address and resolve an issue related to their ************ referral ************ part of their referral program, I earned an APY boost for referring a friend. Each successful referral is supposed to provide a 0.50% APY boost for a period of three months. However, one of my boosts was only applied for a single day (from 02/07/2025 to 02/08/2025)significantly shorter than promised.I contacted Betterment support multiple times, providing clear evidence, including screenshots. While their representatives acknowledged my current promotion dates, they consistently ignored the issue regarding the one-day reward. Despite repeated follow-ups, they have failed to respond to my last emails or take any corrective action.I am requesting that Betterment adjust my current APY boost period to include the full three-month duration that I should have received based on this referral.This complaint is being submitted due to Betterments lack of response, failure to address a clearly documented issue, and failure to deliver on the terms of their own promotion.Desired Outcome:Extend my current ************ APY boost by three months to reflect the full benefit earned from my referral.Thank you for your help in resolving this matter.

  Business Response

  Date: 04/21/2025

  Thank you for contacting Betterment LLC (Betterment or the Firm) via the Better Business Bureau (BBB) regarding our ************ referral promotion. We are sorry to hear that your experience on our platform did not meet your expectations. 
  
  You initially contacted our team on April 4, 2024, to inquire about the duration of your most recent referral boost. On the same day, a member of our support team responded, confirming that your current *** boost began on February 9, 2025, and will end on May 12, 2025. We recognize that our explanation at the time did not fully clarify why one of your referral boosts appeared to apply for just a single day.
  
  To clarify, as outlined in the referral program's Terms and Conditions, the ************ APY boost is limited to a maximum of 180 consecutive days. Once this maximum is reached, additional referral boosts may be truncated or split, depending on the remaining available days. In your case, one referral resulted in a 1-day boost due to this limitation, with the remaining benefit continuing from February 9 to May 12, 2025.
  
  On April 11, a second ***** provided a more detailed explanation, along with a copy of the full Terms and Conditions for your reference. At this time, based on the terms of the promotion and the benefits already applied to your account, no further APY adjustments can be made. However, your feedback is invaluable, and we are working to improve the clarity of our communications moving forward.
  
  We sincerely apologize for any confusion and for the delay in providing a comprehensive and timely explanation. Thank you again for your patience and for being a valued Betterment customer.
  
  
  ********************** LLC
  
  

  Customer Answer

  Date: 04/22/2025

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me and the matter has been resolved.
  
  Sincerely,
  
  ****** ***
  
  
  
   
  
  

• Initial Complaint

  Date:02/18/2025

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I have a Cash Account at ************************** in which I use to do banking. I recently added an external bank account so that I could do transfers between the two institutions.I connected the external the bank account through ********************** by registering the account on ********************** and going through the process of confirming micro deposits placed by Betterment into my external account for approval. Once this was completed I attempted to process a withdraw of $300,000 to my external bank account and a second withdraw of $300,000 to another registered external account. I was informed by email that the withdraws would be done in 1-2 business days and have included a copy of the email as proof.However when I attempted to do this the funds were placed on hold for over ten days and the withdraws were not completed. I was told that they could not complete the transfer because the external bank account did not qualify, even though Betterment had approved the bank as previously stated. They also informed me that they could not remove the hold and that I would have to wait until their computer system released the hold.During this hold period not only were my funds not available to me, they were not collecting interest, which turned out tome very costly considering the deposit amounts.This issue has been very frustrating & costly and I received no help from Betterment in resolving this issue. I am requesting that Betterment credit my account for the ten days of interest I did not receive for the two $300,000 transfers that they held without my permission.**** **********

  Business Response

  Date: 03/03/2025

  Dear *** ************************ you for contacting Betterment LLC (Betterment or the Firm) via the Better Business Bureau (BBB) regarding your recent withdrawal request. Were sorry to hear that your experience on our platform did not meet your expectations.
  
  On February 5, 2025, you initiated a $300,000 deposit into your ****************** account from your linked bank account, *********** N.A. (ending in ****). The following day, on February 6, 2025, you initiated a withdrawal from the ****************** account to a newly linked bank account, ***************************** (ending in ****). This triggered an automatic email requesting ownership verification for the new bank account, instructing you to contact Betterment Customer Experience (CX) to arrange a conference call with the bank. However, you opted to route the funds back to your source account, *********** N.A. (ending in ****), as it was the fastest option.
  
  That same day, you initiated a second $300,000 deposit into your ****************** account from *********** N.A. (ending in ****).
  
  On February 10, 2025, you submitted a second withdrawal request of $299,999.99 to *********** N.A. (ending in ****). On February 15, 2025, you reached out to inquire about the status of both withdrawal requests, as neither had been completed. A Betterment Operations team member informed you that the funds were subject to a five-day hold due to the recent large deposits.
  
  Your withdrawal requests were successfully processed on February 17, 2025. As a goodwill gesture, Betterment Operations offered you a 0.25% boost to your ************ account for the next 90 days.
  
  You requested reimbursement for interest lost during the hold period. However, as we explained via email, funds in transitwhether moving to or from a third-party bankdo not earn interest. Likewise, funds placed on hold for review will not accrue interest during that time. More details can be found in our [************ Terms and Conditions, Section 9]. While we understand this may be frustrating, we are unable to provide additional compensation for lost earnings. 
  
  The delay in your withdrawal was due to a combination of multiple large deposits and withdrawals within a short period of time, the required bank verification for your newly linked account, and the timing of a bank holiday (Presidents Day).
  
  We understand this situation may have caused inconvenience. If theres anything else we can clarify or assist with, please dont hesitate to reach out.
  
  Betterment LLC
  

• Initial Complaint

  Date:12/17/2024

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I am writing to formally address the unresolved issue regarding the interest loss associated with the handling of my withdrawal request and to request a fair resolution. Below is a summary of the events and my concerns:Timeline of Events:November 11, 2024: I initiated a withdrawal of $258,327.79 from my Betterment ************ account.November 19, 2024: The receiving bank issued a return code, and the funds remained held within Betterment.November 20, 2024: The funds were returned and deposited back into my Betterment ************ account.Concerns and Issues:Interest Loss:During the period when my funds were held within Betterment and not transferred, I incurred an approximate loss of $400 in interest. Since the funds were retained by Betterment due to security protocols, I believe Betterment is responsible for reimbursing the lost interest.Proposed Resolution Is Insufficient:The suggested three-month rate boost does not adequately compensate for the lost interest.The enhancement rate for the boost has not been disclosed, and based on my previous experience with a similar boost, it does not sufficiently offset the interest I lost.The resolution requires an extended timeline for recovery, further delaying a fair outcome.Delayed and Inconsistent Communication:I have made multiple inquiries seeking clarification and resolution, yet responses have been delayed, and no proactive updates have been provided.Despite my repeated follow-ups, the responses have not directly addressed my concerns, creating further frustration and delays.

  Business Response

  Date: 01/02/2025

  Thank you for contacting Betterment LLC (Betterment or the Firm) via the Better Business Bureau (BBB) regarding your ************ withdrawal. We are sorry to hear that your experience on our platform did not meet your expectations. 

  On November 11, 2024, you initiated a full withdrawal from your ************ account. We understand the transfer was rejected by your external bank for exceeding their daily transfer limit. In addition, we placed a temporary hold on the withdrawal due to a recent deposit made into your account. This hold is part of our standard account security procedures to protect your account from identity theft. 

  These funds, however, were not eligible to earn interest while in transit (to the third party bank and back from the third party bank as a result of the rejection) nor were they eligible to earn interest while the transaction was being reviewed (i.e., on hold). The Betterment ************ Terms & Conditions make clear that [i]nterest will accrue on Deposit Account balances from the day funds are received and accepted by the ************ through the business day preceding the date of withdrawal from the ************. (Emphasis Added) Because these funds were on hold (consistent with your Betterment Client Agreement and the Betterment ************ Terms & Conditions) and not held at the applicable ************s, the Terms and Conditions make clear that no interest will be paid on the balance by the ************s. Nevertheless and as a courtesy, we offered a three-month rate boost on the remaining balance in your account. 

  We appreciate your understanding as we adhere to these necessary security protocols and we apologize for any inconvenience this may have caused.

  
  

  Customer Answer

  Date: 01/28/2025

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID# ********, and have determined that my complaint has NOT been resolved because:

  The reply from the business is not acceptable and the complaint is not resolved. The following is the reply to them.
  ***********************************************************-
  Thank you for your response and for the details provided regarding the hold and transit issues with my funds. I appreciate Betterment's efforts to maintain security measures; however, the situation resulted in a notable opportunity cost for me. The funds, while held and in transit due to administrative processes, were neither available for my use nor earning interest, which is a significant concern.
  I understand the security necessity but holding client funds without compensating for the financial impact is considerable. This practice shifted the burden of administrative processes onto me, affecting my financial planning. Therefore, I urge Betterment to reconsider its policies to align more closely with fair practices that acknowledge the financial implications for clients under such circumstances.
  Moreover, regarding the interest rate boost offered as a courtesy, I request clarification on its specifics. It is not clear whether this boost is an additional 0.1% or a more substantial 10%. Furthermore, it appears that the current boost I have was due to a promotional event rather than as compensation for this incident. Given the potential earnings lost during the period my funds were neither in transit nor earning interest, a detailed explanation of how this boost compares to my potential lost earnings would be highly appreciated.
  Could Betterment provide specific details on the nature of the boost and consider a more appropriate compensation for the financial impact caused by the hold and the lack of prior notification regarding transfer limits?
  Best,
  ******** ****

  
  Sincerely,
  
  ******** ****
  
  
  
  
   
  

  Business Response

  Date: 02/11/2025

  Thank you for reaching out to Betterment LLC (Betterment or the Firm) through the Better Business Bureau (BBB). We appreciate the opportunity to address your concerns regarding compensation for interest lost while your funds were in transit, and we understand how frustrating this situation has been for you.
  
  As previously mentioned, funds in transitwhether moving to or from a third-party bankdo not earn interest. Similarly, funds placed on hold for review will not accrue interest during that time. While we regret any inconvenience this may have caused, were unable to provide compensation for lost earnings.
  
  Regarding the interest rate boost, we had previously reached out for your approval to apply for an additional boost but did not receive confirmation at that time. However, as a goodwill gesture, we have applied a three-month interest rate boost to your ************* This boost will take effect once your current promotional rate boost ends on February 22, 2025.
  
  To clarify, this boost will add an extra 0.50% to whatever the variable APY is at the time. As of December 27, 2024, the current variable interest rate on Betterment ************ and cash goals is 4.00%*, though please note that APYs are subject to change.
  
  We also want to acknowledge your feedback regarding our policies. I have shared your concerns with our internal teams for review, as we continuously evaluate our policies to ensure they align with security, efficiency, and a positive customer experience. Your input is valuable in that process.
  
  I understand this may not fully resolve your concerns, and I truly regret any frustration this has caused. If theres anything else I can clarify or assist with, please dont hesitate to reach out.
  

• Initial Complaint

  Date:12/05/2024

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I have been calling and emailing Betterment because I have been trying to do a Hardship Withdrawal for the down payment on my very first home that I am scheduled to close on, on December 20, 2024... this is in 16 days. I have multiple tickets open and have been refused to speak to a supervisor. I don't know where else to turn. If my title company can't see the $5000 in my account soon, I will fail and lose my ******* money deposit. Please help

  Business Response

  Date: 12/19/2024

  Thank you for contacting Betterment LLC (Betterment or the Firm) via the Better Business Bureau (BBB) regarding your hardship withdrawal. We are sorry to hear that your experience on our platform did not meet your expectations. 

  You first reached out on 11/27/2024 via phone to our CX team regarding an error message you encountered while attempting to withdraw $5,300 from your 401k for a home purchase. The error message in the Betterment system stated that the amount exceeded 90% of your available balance, even though you believed you were eligible for a hardship distribution. The representative confirmed that you are fully vested, thus enabling you to withdraw the $5,300. This matter was then escalated to our 401k team for further investigation. We provided a secure link for you to send us a screenshot of the error. You were also advised to notify your HR department about the hardship distribution request to help expedite the processing.
  
  On 12/4/2024, you called our CX team to request an update and shared your frustration with response times and the lack of communication from our 401k support team. You also expressed concerns about your upcoming closing deadline on 12/20/2024. We provided you with a detailed explanation of the issue you were experiencing. The error was caused by the "90% rule," which triggers a notification when withdrawal amounts meet or exceed 90% of the available balance. This rule is in place to account for potential market fluctuations and associated fees. As you were fully vested in your plan, your withdrawal request for $5,250 was processed successfully and was expected to be completed within five business days following employer approval. The hardship distribution was finalized on 12/8/2024, and no further action is needed at this time.
  
  We understand your frustration and apologize that this policy and the wording on the platform caused confusion. Your feedback regarding these concerns has been escalated to our development team for consideration.
  

  
  

• Initial Complaint

  Date:10/31/2024

  Type:Service or Repair Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I sent all of my retirements funds from my employer sponsored program with Principal to Betterment a month ago. They haven't deposited these funds as of today. I was told that the funds would be deposited in 7-10 business days but it has been more than 21 business days and I still don't have my money deposited into my account. They claim that they have not received the check that was sent to them by Principal but that is not true. I checked with Principal and the check was sent to the correct address and has not been cashed. No one seems to be able to give me an answer and we are talking about more than $20,000 of my retirement funds. I need someone to figure this out and for my money to be deposited into my account.

  Business Response

  Date: 11/18/2024

  Dear Mr. ************************* you for contacting Betterment LLC (Betterment or the Firm) via the Better Business Bureau (BBB) regarding your inbound rollover check. We are sorry to hear that your experience on our platform did not meet your expectations. 

  On 10/15/24, you contacted us regarding the status of your $20,000 inbound rollover check, which you indicated had been mailed sometime after 9/20. You were informed that check processing typically takes 23 weeks and were advised to wait until 10/23 to allow for standard processing time before seeking further assistance.

  On 10/23, you called back to check on the status of the check. During this interaction, the agent inquired whether you had details about when the check was mailed or confirmation of whether it had been cashed by the sending institution. Unfortunately, you did not have this information, which is critical for escalating the issue to our Operations team. Without these details, we could not proceed further at that time.

  Later on 10/23, 10/29, and 11/6, you reached out via chatbot to inquire about our mailing address and support contact information. Our Customer Experience team escalated the issue to Operations on 11/13 to ensure all possible checks were conducted on our end. Operations confirmed the following:
  - Checks are deposited upon receipt by ****************, and unprocessed checks would indicate non-receipt.
  - There was no record of the check being redirected from our office to the **** box.
  - A check query found no checks under your name.

  Based on these findings, we advised you to contact the sending institution to reissue the check if more than 1215 business days had elapsed since it was mailed.
  On 11/18, our CX team reviewed your account and confirmed that the check had been cashed on 11/15, and the inbound rollover was successfully completed. No further action is required at this time.

  We regret any inconvenience caused during this process and appreciate your patience as we worked to resolve the issue.
  
  Betterment LLC
  cc: Betterment Business Bureau
  

  
  

  Customer Answer

  Date: 11/21/2024

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me and the matter has been resolved.
  
  Sincerely,
  
  ******* *****
  
  
  
   
  
  

• Initial Complaint

  Date:06/20/2024

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I signed up for this service and started making regular deposits to it. Shortly after I did, so my bank account was hacked. I was forced to close the account my contributions were coming from and open a new one. I went through the process of trying to withdraw my funds to the new account, but once I'd complied with their steps (they sent micro deposits to the new checking account that I had to verify back to them in the app), they refused to give back the money. They said I now needed to send them a copy of my personal identification and a copy of my bank statement. I refused and they're refusing to return my money. This is a scam and probably the reason my bank account got hacked in the first place.

  Business Response

  Date: 06/28/2024

  Dear **************,

  
  Betterment LLC (Betterment or the Firm) is responding to your complaint submitted to the Betterment *************** (BBB) regarding a withdrawal request.
  On June 18, 2024, you initiated a withdrawal from your General Investing account. Your withdrawal was automatically held by our system so we could verify ownership of your  bank account ending in **** since it was a newly linked account.  To protect our clients accounts, we require ownership verification of any bank account that is connected to a Betterment account. When we cannot fully verify account ownership, we will request additional information directly from you, the Betterment client. Once this process is completed, the account will remain verified for future withdrawals.

  
  On June 18, 2024, you reached out to our Customer Experience Team regarding the bank verification requirement. We informed you that we could re-route the funds to the account ending in 2263, which is the original funding account for your General Investing Betterment account. You then informed us that your original funding bank account was now closed and was replaced with the bank account ending in ****, which was newly linked.
  After careful consideration, our Operations team was able to make a one-time exception to release your withdrawal. The Operations team also notified you that the bank account ending in **** will remain unverified and any future transactions with that account *** require verification.
  We apologize for any confusion or inconvenience this *** have caused.

  
  Betterment LLC
  

  
  

  Customer Answer

  Date: 07/01/2024

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID# ********, and have determined that my complaint has NOT been resolved because:

  [Your Answer Here]

   They only returned my money after I threatened to file a complaint with their local state's Attorney General's office.  Then suddenly their attempt to gain my banking and PII information was no longer a requirement they upheld.  Proving without a doubt to me that what they're doing is illegal and they know it. 

   

   

   

  In order for the BBB to appropriately process your response, you MUST answer the question above.

  
  Sincerely,
  
  ***********************
  
  
  
  
   
  

  Business Response

  Date: 07/11/2024

  Dear **************,

  First and foremost, we sincerely apologize that our initial response did not resolve your complaint to your satisfaction. At Betterment, we strive to address and resolve all customer complaints to the best of our ability.

  As we previously noted, we require verification that any bank account connected to a Betterment account be owned by the Betterment client. On June 18, 2024, and June 20, 2024, we communicated our requirements for such account verification. These requirements are necessary to protect our clients from fraud and are in line with our legal and regulatory obligations to collect and store certain personal information in order to provide you with financial services. Betterment provides details on the need to obtain such personal information in the terms of the Customer Agreement you entered into at account opening as well as our privacy policy. 
  

  Given that you are a valued customer, after further review of your request, our Operations team made a one-time exception to release your withdrawal. Please note that your bank account remains unverified, so any future withdrawal requests will require additional verification as previously communicated to you.

  We sincerely apologize for any inconvenience this heightened security measure *** have caused. We hope this response addresses your concerns and we have resolved the issue to your satisfaction. 

  Betterment LLC

  
  

  Customer Answer

  Date: 07/11/2024

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID# ********, and have determined that my complaint has NOT been resolved because:

   

   After carefully considering their reply, I find that it fails to justify their practices of unreasonably gathering personally identifiable information (PII) and financial data. The response is filled with reiterations of excuses that do not address the core issues of my complaint or alleviate my concerns regarding their business practices.
  Therefore, I formally reject their response. My decision is final, and I remain firm in my stance that their business practices are questionable and do not meet acceptable standards of privacy and data security imho.  

   

  In order for the BBB to appropriately process your response, you MUST answer the question above.

  
  Sincerely,
  
  ***********************
  
  
  
  
   
  

• Initial Complaint

  Date:06/07/2024

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I received an email that I was automatically enrolled into a **** 401K retirement plan which I did not authorize & never knew until I received an email on 6/5/2024 to which I immediately contacted the company, ************************** spoke with ******* who couldn't help me but promised me that she would find out & email me the info. I gave it 2 days & called ******************************** answered the phone & when she heard it was me (again), she disconnected the call so I called back and this time I spoke to ****** and she was also unable to help so I asked to speak to a supervisor...****** said the supervisor can only communicate via email so I provided both work & home email because I am requesting the money back that no one was given permission to take to begin with and now I can't seem to get a straight answer from ********** have made contact twice on the phone with **************** and then I also received an email from ******. I want to withdraw my funds that should have never been deposited with to begin with without my authorization and now I am being told I am going to be penalized on my taxes....in which I should not be & Betterment needs to have a BETTER solution to this! This seems like a scam!

  Business Response

  Date: 06/21/2024

  Dear **************,
  
  You contacted Betterment Support on June 5, 2024, with concerns about deductions from your paycheck for a 401(k) plan for your employer, ******** Law LLC. Upon reviewing your account, we confirmed that deductions were being made, due to your employer's policy on automatic enrollment. 
  
  We recognize that the communication and service provided to you fell short of our standards when our Customer Experience Team failed to follow up with you immediately after you experienced a call being disconnected. In response, we took several steps to rectify the situation. 
  
  Our Betterment Plan Support team has adjusted your contribution rate to 0%, ensuring no further deductions are made. We also provided guidance on how you could consult your plan administrator to correct any contributions and explore options for withdrawing your funds. This included specific instructions for your employer to terminate you from the plan in the payroll system used, allowing you the option to withdraw your funds.
  
  Our Plan Support team has been directly involved, emphasizing the urgency of the situation to the plan administrator, and will continue to offer support and guidance to facilitate the necessary actions.
  
  We regret the inconvenience and frustration caused during this process and are dedicated to ensuring such issues are handled with greater care in the future. 
  
  
  Betterment LLC

• Initial Complaint

  Date:04/30/2024

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I have been working with Betterment since January of 2024 to try and get my retirement funds from a previous employer transferred to my current employer. Numerous emails, multiple attempts to speak with someone on the phone and tedious paperwork has all taken place with no resolve. My check had to be reissued due to not making it to my current retirement account with zero explanation. Betterment is also refusing to reissue the check with tracking information as a resolution. Today, when I was able to speak to someone all she could offer was the reply that they are back logged due to tax season. I am planning to seek the advice of a financial attorney, I feel as if I have no other options at this point.

  Business Response

  Date: 05/09/2024

  We sincerely apologize for the inconvenience this delay in your outbound Traditional *** transfer has caused and the delays in responding to your inquiries. We aim to handle all transfers swiftly and apologize that this was not the case for your transfer. We can confirm that as of April 29, 2024, our Operations team has reissued the check for your *** transfer using the information you provided to us on April 15, 2024. The check should arrive at Fidelity within ***** business days of the date of mailing.  

  Our Operations team will be monitoring the status of the check to ensure it is cashed by the receiver. 
  

  Again, we apologize for the inconvenience. 

  Betterment LLC
  
  

  
  

• Initial Complaint

  Date:04/03/2024

  Type:Product Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Requested to have an investment accounted transferred to another bank. Submitted request to transfer form 3 times over a full month and cannot get resolution on my issue despite multiple calls to customer service.

  Customer Answer

  Date: 04/03/2024

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me and the matter has been resolved.
  
  Sincerely,
  
  *************************