[Update 4/21/20: Betterment Checking is now live, I believe it’s available for anyone to open without waitlist.]
The high-yield Betterment savings account is soon launching an accompanying checking account as well with a linked Visa debit card. They’ve just announced that all foreign transaction fees will be reimbursed on the account, including the 1% fee from Visa.
They also waive making ATM fees, even international, making all foreign swipes entirely fee-free.
They sent out an email:
We’re excited to share that, with Betterment Everyday™ Checking, you can now travel the world without paying to access your own money.
That’s right—not only do we reimburse ATM fees worldwide, but every foreign transaction fee is now reimbursed. Nice.
It IS nice. There are various banks/accounts who will waive ATM fees, perhaps even foreign ATM fees, but Schwab was one of the only banks who did not charge any foreign transaction fees, meaning that even the 1% Visa cost will is reimbursed. That’s in addition to waiving ATM fees worldwide. Betterment now joins Schwab as another bank who reimburses both of these fees, a useful account to have for travelers.
Advantages of Betterment over Schwab:
- No hard pull to open.
- Accompanying savings account earns a high APY savings rate, and could be a nice savings account to use, regardless.
We’ll add Betterment to our list of Best Debit Cards For International ATM Cash Withdrawals.
Hat tip to readers Ryan Goldstein and Ian
