APY (Annual Percentage Yield)
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10 Best
Savings Accounts
of 2024
Savings Accounts
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Promoted
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4.30% APY on Savings Account
- $0 monthly balance
- 60,000 ATMs
- Easy cash access
- 24/7 live customer support
SaveBetter Savings Accounts Review
19 Customer Comments & Reviews - see all comments
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SaveBetter is an online platform that connects customers with partner banks to offer such services as savings accounts, money market accounts, and Certificates of Deposit (CDs). Customers can manage multiple accounts through a single, convenient dashboard. SaveBetter services are free to use for depositors. SaveBetter is a division of The Raisin Group, a company headquartered in Hamburg, Germany.
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19 Customer Comments & Reviews
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The right hand does not know what the left hand is doing. The higher interest rate is nice but getting your money back out takes multiple calls and is very frustrating. I requested a transfer on Friday, 7/28/23, they advertise 1-3 business days. I then learned since I made the transfer after 1:30PM EST it would be 4 business days, I called Thursday the money was still not in there. I was promised the money would be in their Friday 8/4/23 - the money has still not arrived at the receiving bank. Absolutely nuts. I cannot recommend using this company if you want your money back in a timely manner like they promise.
Have 2 accounts with Save Better. Deposits and withdrawls went without a glitch. Earning nice interest.
Can't comment on SaveBetter Customer Service as I haven't used them yet.
There is an element of added risk... not with your funds but with those attractive interest rates. From a conservative standpoint, they can be viewed as Teaser Rates or as Potential Teaser Rates. For example: If 9thNationalBank wants to bring in our funds, it is free to post a very high interest rate. When 9thNB has gotten all the funds that it needs, it is then free to turn-off the flow by dropping the APY. The existing investors in 9thNB can then expect to feel just a wee bit cheated...if they are lucky. At this point SaveBetter has not yet addressed the fact that: We do NOT like Teaser Rates! I have brought this glaring defect to their attention, and we will now see if they... Read More
Have several accounts in Savebetter and have made good interest deposits and withdrawls are credited promtly been in Savebtter since 2021 HIGHLY Recommend.
I was skeptical at first but it sounded good so I checked them out and I took a flier and made some deposits and withdrawals, and everything worked according to their claims. I am now a fully vested saver with 5 accounts that total close to 1M. that's the good: money safe, insured and accumulating the highest interest rates I can find anywhere. Now the bad. The access to my money via a single external account is a real pain. It makes it very difficult to do simple banking for someone who has multiple external accounts outside of SaveBetter. My second negative about SaveBetter is that they are many times impossible to make contact with either by phone or emails. Very unprofessional and... Read More
So far, so good.
I agree with redwest2010's review. Although I have only used Savebetter for a short time, I have moved money in and out without an issue. And although it wasn't the most in depth answer to my question, I did get a response to my email when I had a question.
Reading through all of these, I get the hesitation. But 99% of what I'm seeing is "worry", not "actual problems". I've been working with them for about 6 months now, and everything's gone great. We had large deposits from the sale of a house sitting doing nothing pending payouts to the folks building our new house. We've put money in, moved it back out, rebalanced into other accounts, etc. and so far, no problems. Yes... it's unnerving, and yes, the contact options with them are spooky, but after this much time, I'm assuming it's just a really small skeletal operation trying to operate as thin as possible. But so far... there've been no problems at all. What I'd really love to see is a... Read More
I guess I never learned from the first scam I got into for jumping into higher rates. This will be my second supid choice. I realize I have no bank ACCOUNT No. nor any bank ROUTING No. with mph.bank,or SaveBetter Savings, so no way to transfer my money out of this supposedly named BANK.
Of course now that none of my emails have been answered and no one from Save Better or MPH have bothered to give me any support or answers, I can kiss my $60, 000 good bye.
I set up a CD with a bank via Savebetter; the custodian of the funds is Lewis and Clark Bank. I received duplicate 1099s from L&C (who say the 1099s are put together by Savebetter) and also the original bank. I withdrew the CD early so there is a penalty fee which is shown on the original bank 1099 but not the L&C Bank. Both have sent 1099s to the IRS, and I don't want to pay twice for basically the same interest. I have sent emails to Savebetter for the last week with no answers how to proceed; can't get through on the phone. I will not work with an intermediary again since it only complicates things. I would like Savebetter to contact the IRS to retract their 1099.
Since mid-week last week, the Savebetter site has been undergoing "maintenance" and should have been back online yesterday, January 30th. Nope - down for 5 days and counting. There is no communication other than "we're having problems, try again later". This is very disconcerting as I have been unsuccessfully trying to withdraw funds (bank transfer data is now missing from my account). I can only think of three possibilities for this: 1. Savebetter is a scam and your money is at serious risk of disappearing, 2. They are incompetent and can't operate a banking web site at any reasonable level of service, or 3. They've been hacked, don't know what to do and are not transparent... Read More
Top Rated
Our Partner
4.30% APY on Savings Account
- $0 monthly balance
- 60,000 ATMs
- Easy cash access
- 24/7 live customer support