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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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How is SaveBetter rated?

Breakdown

Overall Rating: 0 / 5 (N/A)

SaveBetter is not a bank, but rather an aggregator of banking services. The company partners with multiple financial institutions to help you find the best savings account solution for your needs. The company offers a simple, convenient way to compare savings accounts online and saves you the headache of researching savings account options individually. The savings accounts you open through SaveBetter are FDIC-insured up to $250,000.

SaveBetter's partners offer other products and services. The advantage of using SaveBetter is that you can manage various accounts across a single or multiple financial institutions under one username and password. SaveBetter streamlines account management into one user-friendly dashboard. Most of us juggle dozens of account numbers, profiles, and passwords. SaveBetter offers relief from some of the burdens of living in the digital world.

SaveBetter Account Features

Balance Requirements - 0 / 5

Since SaveBetter works with multiple financial institutions, it doesn't itself set balance or minimum deposit thresholds. Each savings account you consider will have its own requirements, however, the institutions featured on SaveBetter's website have a $1 minimum deposit requirement.

APY (Annual Percentage Yield)

Varies by financial institution
Interest Compounded
Daily
Integration with Other Online Accounts
External Banks
Bonus Offers/Customer Perks
$25 bonus with first $5000 deposit.
Mobile App
Yes
ATM Fees
SaveBetter doesn't discuss whether its partner banks offer ATM cards with their savings accounts or what fees are associated with ATM transactions.
Branch Offices
SaveBetter is an online marketplace for banks and doesn't have any branch offices.

SaveBetter Fees and Restrictions

Rates and fees - 0 / 5

SaveBetter is free to use. The company doesn't collect any fees for its services. However, the financial institutions that actually hold your money may charge fees for their services.
Minimum Opening Deposit
1
Withdrawal Limit
Set by partner financial institutions
Transfer Limit
Set by partner financial institutions

SaveBetter Reputation & Financial Strength

Financial Stability & Ratings - 0 / 5

SaveBetter is not rated by Moody's or Standard & Poors, but that is common for financial marketplaces and companies that are not publicly traded. We also checked ratings for a few of the banks SaveBetter partners with and found they weren't rated either. That's also common for smaller institutions.
Year Founded
2020
Consumer Financial Protection Board (CFPB) Complaints
0

Contact Methods

  • Phone
  • Social Media
Customer Support Hours
Monday to Friday from 9:00 a.m. - 4:00 p.m. ET

Company Profile

Full Name
SaveBetter Savings Accounts
Company Website
https://savebetter.com
Headquarters
85 Broad Street, New York, NY, 10004

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19 Customer Comments & Reviews

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Diane H
1/30/2023
SaveBetter website was undergoing maintenance, and they sent an email saying the website is up and running. But when I tried to go online, it says: "We are currently experiencing technical difficulties and are working to fix the issue as soon as possible. Please come back later. We apologize for the inconvenience." I called and Mio said, they are working on the problem and are hoping it will be fixed by tonight. I called Lewis and Clark Bank, which is the custodial bank, and has brick and mortar locations. They confirmed that they had records of my account but couldn't bring it up at the moment. The problem is I can't move my money until the website comes back up, so, for someone with a... Read More

jessicabehrman
1/22/2023
I think the sole positive review here must not be real. The most positive spin I can think of for SaveBetter is that the business is too new &/or they are trying to keep the business as automated as possible and won't pay for real (and qualified) peopke to handle support.

jessicabehrman
1/22/2023
You *cannot* communicate with this business. I have sent multiple emails, messages via chats...why on earth would I trust this platform with my money, personal and external account information? They can state all the marketing fluff they like but why would I believe that I can rely on it? Here I was *trying* to be a customer and I couldn't get basic questions answered. The only function that went smoothly was the online process to register an account and link an external account (and only *one* - you can't link more than one) to transfer money in - of course *that* function would go smoothly! It's not worth any extra bit of interest if service and communication is non-existent or... Read More

tim.newman.bellsouth
1/12/2023
Point of concern is that they are cutting out account access for a few days later this month (January 2023). I can't recall any other financial operation saying they would be out of commission for that length of time.

Linda R
1/3/2023
I cannot talk to anyone at SaveBetter because they will not answer their phone. I have held for hours. I cannot get an email response either. I need to get my money out for a purchase and I am frightened that I have lost my savings. If I could give them less than 1 star I definitely would.

Sue M
12/28/2022
I have put funds into the SaveBetter account at Blue Credit union. I have chatted twice with Blue with different reppresentatives to se if they are legit. Both times Blue says they are. I am concerned however with all of the scams today IF SaveBetter really is a legitimate company. I can't find reviews on them other than the few posted here. Has anyone had an account with them for a year or even 6 months that can shed light on this? Anyone taken funds out? Any issues? TIA

Diane H
12/14/2022
SaveBetter works fine for me, as long as it's FDIC insured for every account. I can communicate by email, and they answer my questions promptly. I have my money in two of their banks, each paying 4% interest.

pcdc58
12/11/2022
Money is growing and I've had no issues. Highest interest available to grow. Called and it's easy to get customer service. Recommend.

408lafayette
12/1/2022
No-one can get access to a real person or login to review my account. This option does not exist. I'm getting my money out as soon as I can.

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4.30% APY on Savings Account
  • $0 monthly balance
  • 60,000 ATMs
  • Easy cash access
  • 24/7 live customer support
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