SmartDeposit by Betterment will allow consumer to automatically move excess cash to their Betterment account so it can be invested.
Betterment is billed as a smarter way to invest money. But as a separate investment service, getting cash to Betterment has always been a hurdle. The company today is taking the wraps off a new service that monitors an account holder’s bank account and invests cash just sitting there. Betterment says this service, called SmartDeposit, will give members more control from their money. Saving money is hard and with SmartDeposit Betterment made it a bit easier by automating the task. With SmartDeposit users set thresholds on their bank account balance. The service then intelligently detects when there is excess amount of cash just sitting there and moves it to Betterment where it is invested.