Updated September 29, 2026 · VaultCue Editorial Team
Betterment vs Wise Account
Betterment
Wise Account
Higher score in this comparison
What sets them apart
| Compare | BettermentReviewSee alternativesSee alternatives | Wise AccountReviewSee alternativesSee alternatives |
|---|---|---|
| Headline rate | 3.5%Higher | 3.29% |
| Deposit protection | FDIC up to USD 250,000 | FSCS up to GBP 85,000 |
| Access terms | Cash Reserve: no minimum balance ($10 minimum deposit), unlimited withdrawals, sweep cash held at FDIC-insured program banks up to $8M (joint) | Instant access to money and gains; transfer up to 100,000 GBP (Personal) daily without delay |
| Monthly fee | $0 | £0 |
| Minimum deposit | $10 | Not confirmed |
Same on both: Rate type (Variable), Account kind (Cash management).
We earn a commission when you sign up through links on this site. Partner status can affect where a brand appears in our rankings. Partners with a live offer in your country come first, then every other brand by score.
Key differences
- Wise Account scores higher overall: 9.1 vs 9.0.
- Founded is lower at Betterment: 2008 vs 2011.
- Wise Account is licensed in 1 more country.
- Headline rate is higher at Betterment: 3.5% vs 3.29%.
- Pricing model: only Wise Account offers Low FX.
Our verdict on each
Betterment
Betterment suits US savers who want a cash-management account that pays a variable rate without a monthly fee. Its Cash Reserve pays 3.5% on a variable basis, needs $10 to open, and holds cash across a sweep network of FDIC-insured program banks.
Wise Account
Wise Account suits expats and travelers who move money across currencies and want local account details without paying anything each month. You can hold 40 currencies, receive money like a local, and the account draws 7.4 overall on VaultCue.
Score breakdown
| Area | Betterment | Wise Account |
|---|---|---|
| Cost | 8.9Monthly fee of $0 and a $10 entry point, against a cash-management median fee of €0. | 9.2HigherA monthly fee of £0, conversion at 0.24% with a 0% markup and transfers priced at From 0.24%, varies by currency. |
| Offer | 9.5Variable 3.5% headline rate with unlimited withdrawals and a sweep across FDIC-insured program banks. | 9.9HigherA variable 3.29% on the balance, 40 currencies and a £250 free cash allowance. |
| Trust | 8.9Higher | 8.4 |
Pick Betterment if, pick Wise Account if
Pick Betterment if trust and headline rate matter most.
Pick Wise Account if cost and offer matter most.
Positions in our rankings
| Ranking | Betterment | Wise Account |
|---|---|---|
| Savings accounts | 327 of 1420 | 312 of 1420 |
| Cash management accounts | 12 of 45 | 11 of 45 |
A third option
eToro has headline rate at 3.8%, against 3.5% for Betterment and 3.29% for Wise Account.
eToro reviewSources behind this comparison
Betterment
- betterment.com: 10 facts, checked September 26, 2026
- en.wikipedia.org: 1 fact, checked September 26, 2026
- sipc.org: 1 fact, checked September 26, 2026
Wise Account
- wise.com: 8 facts, checked September 26, 2026
- euclid.eba.europa.eu: 2 facts, checked September 26, 2026
- en.wikipedia.org: 1 fact, checked September 26, 2026
Every fact side by side
| Fact | Betterment | Wise Account |
|---|---|---|
| Pricing model | No monthly fee | No monthly fee, Low FXCovers more |
| Legal entity | MTG LLC | Wise Europe SA |
| Headquarters | United States | Belgium |
| Founded | 2008Lower | 2011 |
| Support channels | Phone, Help centre, Email, Chat | Email, Phone, Chat, Help centre |
Money transfer
| Fact | Betterment | Wise Account |
|---|---|---|
| Transfer fee | Not confirmed | From 0.24%, varies by currency |
| Exchange rate markup | Not confirmed | 0% |
| Licence type | Not confirmed | Payment institution |
| Payout methods | Not confirmed | Bank, Card |
| Currencies | Not confirmed | 40 |
Where each stands against the rest
| Fact | Betterment | Wise Account | Median |
|---|---|---|---|
| Headline rate | 3.5%above the median | 3.29%above the median | 3.25% |
| Minimum deposit | $10above the median | Not confirmed | $0 |
Median across 658 listed accounts.
Pros and cons
Betterment
Pros
- No monthly fee on the Cash Reserve account, at $0 a month
- Headline rate of 3.5%, variable, above the cash-management median of 3.41%
- Only $10 to open, with unlimited withdrawals
Cons
- The rate is variable, so the 3.5% headline can move with the policy rate
- A minimum of $10 is still needed before the sweep starts earning
- Protection on sweep balances depends on the program banks holding the cash, with FDIC up to USD 250,000 stated per depositor
Wise Account
Pros
- Currency conversion at 0.24% with a 0% exchange rate margin, so nothing is added on top of the rate you are quoted.
- Balances earn a variable 3.29%, above the everyday account median of 3.25%, while access to money and gains stays instant.
- Holds 40 currencies, well clear of the everyday account median of 9, with local account details covering IBAN, UK sort code and US ACH.
Cons
- It is a payment institution rather than a bank, so balances are safeguarded rather than banked, and the protection that applies is FSCS up to GBP 85,000.
- The rate is variable, so 3.29% can move with the base rate instead of being locked for a term.
- Cash withdrawals are free to £250 only, and free ATM withdrawals are a feature on 64.6% of everyday accounts, so heavy cash users should check a bank tariff first.
Who each suits
Betterment
Who it suits
- US savers keeping an emergency buffer in a cash-management account
- Anyone who wants a sweep structure rather than a single bank balance
- People who pay a monthly fee elsewhere and want $0 instead
Who should look elsewhere
- Readers wanting a fixed rate, because variable applies here
- People outside the US, since Betterment is based in the United States
- Balances that need a guaranteed rate for a set term
Wise Account
Who it suits
- Expats and travelers named in expats and travelers who hold balances in several currencies at once.
- People who need local account details, since those cover iban, uk sort code and us ach.
- Readers who want 40 currencies in a single account without a monthly charge.
Who should look elsewhere
- Readers who want a bank licence rather than a payment institution account.
- Anyone chasing a fixed return for a set period, because the rate is variable and the money is accessible on demand.
- Traders or wallet users who would rather sit with XTB or Skrill, where a multi-currency current account plays no part.
Current offers
Betterment
Current offer
Bonus
New customer offer: 0.75% APY boost on Cash Reserve (4.25% variable APY): 0.75% boost on balances up to $1M (3.50% base + boost = 4.25%)
New clients with a qualifying deposit; earn more on savings up to $1M through February 15, 2027; $10 min deposit for base APY; base APY change moves boosted APY
Source, checked September 26, 2026
Bonus
Earn up to $2,000 investing offer: up to $2,000
Open any individual investing account and make a deposit; terms apply
Source, checked September 26, 2026
Discount code
Rate partnership: discounted mortgage rate: up to 0.75% off
Through Betterment's partnership with Rate
Source, checked September 26, 2026
Country by country
| Country | Betterment | Wise Account |
|---|---|---|
| United States | Yes | No |
Questions about each
Betterment
What rate does the Betterment Cash Reserve pay?+
The Cash Reserve pays a headline rate of 3.5%, and the rate type is variable. Because it is variable, the figure can rise or fall with policy rates rather than being fixed for a set term. Treat the headline as a starting point rather than a promise.
Is there a monthly fee on the account?+
There is no monthly fee. The monthly fee is $0, and the pricing model is a no-monthly-fee one, which is the most common model in this ranking. You keep the full amount you deposit earning interest.
Wise Account
Does the Wise Account cost anything each month?+
The monthly fee is £0, so there is no standing charge to keep the account open. That matches AXI Card, XTB and Skrill, which also show a monthly fee of €0. On VaultCue, Wise Account ranks 1 of 500 brands on this measure, and the everyday account median is €0.
What does it cost to change currency?+
Currency conversion is charged at 0.24% and the exchange rate margin is 0%, so nothing is layered on top of the rate quoted. Wise Account ranks 137 of 312 brands on that fee, with the everyday account median at 0.22% and the upper quartile at 2%.
Other options to compare
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Betterment
Wise Account