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The Battle between Wealthfront and Betterment is a Good News for Savers

Betterment is an online investing adviser. It had high yielding savings account, which had a 2.69% APY in July. But after that the Federal Reserve cut its benchmark rate. Both Wealthfront and Betterment joined in a high yielding savings race. It is extremely difficult to announce a winner between then.

Both these high yielding advisers provide fee-free accounts and unlimited transfers. Also they cover an insurance of up to $1 Million. Even though both of the advisers are online investing advisers they now are also open to Interacting with ordinary savers.

The high yielding savings spaces is the ground of online banks and large financial institutions. But last month, Betterment and Wealthfront joined this space, and made a start with the debut of its Everyday Savings Account.

The account initially offered a huge annual percentage yield APY of up to 2.69%, and bested Wealthfront’s 2.57% APY. Recently though Federal Reserve announced that it would cut its interest rates on July 31st. And after that interest cuts, Wealtfront’s Cash account earns 2.32% APY and Every Savings account earns up to 2.44% APY.

Opening a Swedish ISK account, an investment savings account, with Betterment Everyday Savings account is easy. You can do so with just $10 and start earning the 2.44 APY. Wealthfront’s account is technically a cash account, but it has features of high yield savings account.

It is impossible to choose between both of them. Both are robo advisers high yield accounts. And they offer highest rates on the market right now. Even those looking to segue into robo investing can opt for either Wealthfront or Betterment.

Betterment offers you customized investment portfolios in its taxable brokerage accounts, and IRAs for retirement savings and investing. And Wealthfront allows you to invest in low cost index funds with as little as $500. You can choose between any one of them according to your plans.

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