Betterment

What you will be able to do with this connection

This connection setup enables 3 features:

1. Visibility of total balance.
2. Route money into your account (also called “pushing” funds).
3. Transfer funds from a pod to Betterment (also called “pulling” funds).

Requirements to Connect

• You have an account with Betterment
  • You will need a Betterment Checking account for the push method.
    • You will need your account and routing numbers. We will walk you through that below.
  • You will need at least one of Betterment’s investing accounts for the pull method:
    • High-yield Cash
    • Bond Investing
    • Investing
    • IRA
    • Crypto investing
• You have a Sequence account.
• You will need whatever device you use Sequence on - desktop or laptop.
• You may encounter some Multi-Factor Authentication (MFA). So, may need one or more of:
  • Whatever device you receive text messages on
  • Whatever device you use to access the Betterment Mobile app
  • Whatever device you use to access your preferred authenticator app

Connection Instructions

Currently, investment accounts are discoverable via Plaid. Therefore, investment accounts can be added to Sequence via Plaid, resulting in the visibility of account balances. However, no routing or account numbers are available for Betterment’s investment accounts, which means you cannot directly route to investment accounts at Betterment. Below, we present the two alternative methods—the push and the pull—for maximum convenience.

If you’ve connected accounts using Plaid previously, you should be able to run through that section reasonably quickly.

Routing and account numbers can be found via the browser interface or the mobile app. Instructions for both are below.

Connecting via Plaid

The following process enables a connection with Plaid that enables the display of your Betterment account balance:

1. Click this link to navigate to the Sequence login page.

2. On the bottom center of your money map click the add account button.

3. Select the Beneficiary & Investment Account

4. You should now see the Plaid connector.

   

5. Click Continue to go to the next step.

6. Enter your Phone number and click continue.

   1. Note that if you have previously used Plaid, your phone number may be autofilled.

   

7. Plaid will send you a text message with a code. Enter the code, and you should move to the institution selection screen.

   1. If you’ve used Plaid before, you may see a list of previously selected institutions.
      1. If your desired institution is listed, you may select it.
      2. Otherwise, click “Connect a new institution” at the bottom of the list.
   2. Otherwise, we should only see investment institutions because back in step 3 we selected “Investment account.”

8. In this case, we will select Betterment.

   1. If Betterment isn’t listed among the displayed institutions, start typing Betterment in the search field.

9. You should see the screen below directing you to visit Betterment and generate an app password.

   1. If you have never generated an app password for Sequence, follow the onscreen instructions.
   2. If you have generated a Betterment app password for Sequence before and have it saved, you may reuse it.
   3. If you have generated a Betterment app password for Sequence before but haven’t saved it, you may generate a new app password.

   

   ☢️ Be aware that once the Betterment screen with the generated app password is closed, the app password is gone and cannot be retrieved.

    😉 You can delete (or revoke, as Betterment calls it) and generate as many passwords as you need.

10. After copying your Betterment app password to your clipboard, click “Continue with App Password” on the Plaid workflow.

11. Enter the email associated with your Betterment account, paste your app password, and click the Submit button.

12. You should now see a list of Betterment accounts limited to the type of accounts you are attempting to connect.

13. Use the checkboxes to select the account(s) you wish to connect and click Continue.

⚠️ Be aware that selecting the correct accounts can be tricky. Plaid only displays the last four digits of an account number that is not visible inside your Betterment account. If each account has a distinct balance, that will be the easiest way to distinguish accounts.

The Pull Method: Using an EFT at Betterment

This process will be familiar if you’ve used an EFT (electronic funds transfer) to transfer money from a bank account to Betterment. If this is your first EFT setup at Betterment, you’ll find this guide helpful.

The below method has two overall tasks:

1. Create a pod in your Sequence money map.
2. Add the pod created in task 1 to Betterment’s list of eligible EFT sources - referred to as Funding accounts at Betterment.

💡 Use Sequence rules to fill your investment pod. Then, use Betterment’s frequency-based recurring transfers to automatically pull funds from your Sequence pod.

Be aware that the Betterment Help Center has the following info on limits for funding accounts:

For security reasons, we (Betterment) allow you to use up to three different external bank accounts to deposit and withdraw from your investing accounts and Cash Reserve every 90 days. External bank accounts associated with active auto-deposits or auto-withdrawals also count toward this limit.

So plan accordingly. More info from Betterment is available here.

Task 1: Create a pod in your Sequence money map

1. Click this link to navigate to the Sequence login page.

2. On the bottom center of your money map click the Add Pod button.

   

3. Give your pod a name and select a Beneficiary from the dropdown menu.

   

4. You should now have your newly created pod visible as a node in your Sequence money map.

   

5. Click on your pod to open the slide-out drawer containing the details view.

6. You should see a routing number and account number for the pod. You will need these for the next task.

   

Task 2: Add your pod to Betterment’s list of eligible EFT sources

While completing this process from a mobile app may be possible, we and Betterment suggest completing it in a desktop-based browser. Therefore, the following instructions for this task are browser-based.

1. Use your preferred browser to navigate to Betterment.

2. Enter your login credentials and click the “Log in” button.

3. You should be on the Betterment summary page, also known as the Home tab.

4. On the side menu, under “Your account”, click on Settings.

   

5. You should now be in Settings | Profile. Click on the “Funding accounts” tab.

   

6. On the “Funding accounts” tab, you should see previously connected funding accounts for Checking (if you have a Betterment checking account) and Individual Cash Reserve and Investments (if you have those accounts set up). Your setup may look slightly different from the picture below.

   

7. To add a new connection, click on “Connect a funding account” at the bottom of your funding account list.

   

8. You will be prompted to authenticate your account with a temporary verification code to your mobile number. You have the option of the following methods:

   1. Text message.
   2. Phone call.
   3. Or you may use your security questions if those are enabled.

9. After verifying, you will see the option to “Connect a new institution” along with a list of accounts from institutions you have previously connected to Betterment.

   1. If Sequence was previously connected, select your pod using the radio buttons and click the Continue button to complete the connection process.
   2. If Sequence was not previously connected, select “Connect a new institution” using the radio buttons and click the Continue button.
      1. Follow the Plaid workflow to connect to Sequence. Note that all Sequence accounts (Income Sources and pods) will be connected.
      2. Once the Plaid workflow has been completed, you can select your pod from task 1 as your funding account and click the Select button.

   

 ✅ You have completed the setup of the pull method.

The Push Method: Using Sequence to route money to a Betterment cash account

In this method, we’ll use Sequence to route money to a Betterment checking account. Once funds are inside a Betterment checking account, we will set up an automated transfer to a Betterment Cash Reserve account.

The below method has three overall tasks:

1. Add your Betterment checking account to your Sequence money map.
2. Create rules in Sequence to route money to Betterment.
3. Automate routing of funds inside the Betterment ecosystem.

Task 1: Add your Betterment checking account to Sequence

You may skip this task if your Betterment checking account is already added to Sequence.

1. Click this link to navigate to the Sequence login page. Complete the login process.

2. On the bottom center of your money map, click the Add Account button.

3. Select the Beneficiary and then click on “Depository account.”

4. Type Betterment into the search field and click on the result.

1. You should now be in a Plaid workflow. Click the Continue button.

2. Continue working through the Plaid workflow.

   1. If you have used Plaid previously:
      1. You should get to a step in the Plaid workflow called “Select a saved institution.”
         1. If you’ve used Betterment before, you may select it from the list.
         2. If you have not used Betterment before, click “Connect a new institution.”
   2. If this is your first time using Plaid, you should see “Select your institution.”
      1. Type in Betterment the the search field.
      2. Click the Betterment option to progress to the next step.

3. You should see the screen below directing you to visit Betterment and generate an app password.

   1. If you have never generated an app password for Sequence, follow the onscreen instructions.
   2. If you have generated a Betterment app password for Sequence before and have it saved, you may reuse it.
   3. If you have generated a Betterment app password for Sequence before but haven’t saved it, you may generate a new app password.

   

    ☢️ Be aware that once the Betterment screen with the generated app password is closed, the app password is gone and cannot be retrieved.

    😉 You can delete (or revoke, as Betterment calls it) and generate as many passwords as you need.

4. After copying your Betterment app password to your clipboard, click “Continue with App Password” on the Plaid workflow.

5. Enter the email associated with your Betterment account, paste your app password, and click the Submit button.

6. You should now see a list of Betterment accounts limited to the type of accounts you are attempting to connect (checking accounts in this scenario).

7. Use the checkboxes to select the account(s) you wish to connect and click Continue.

Task 2: Create rule(s) in Sequence

In this task, we will create an example rule using Sequence. This example uses a simple port-to-cash account rule. Rules can also be created to run from a pod or external account. Your rule(s) will be unique to your financial goals.

1. Ensure your Sequence money map includes an income source and your desired Betterment checking account.

1. Click on your income source and drag a line from the plus sign (+) at the bottom of the Income source node to your Betterment account node. This will trigger the rule workflow.

2. In this example, we will select a “Triggered by incoming funds rule.”

   

3. The “Incoming funds rule” details view will slide out from the side of your screen.

4. This example does not employ any condition(s). You may add them to your rule as you see fit.

5. This rule's action is set to transfer 10% of incoming funds to the Betterment checking account. Again, your chosen rules may be different to meet your financial goals.

   

6. Click the Save button to save the rule to your Sequence money map.

Task 3: Automate in the Wealthfront ecosystem

Betterment is somewhat limited when it comes to transfers between accounts. Transfers are either one-time transfers or frequency-based.

Below, we go over two methods for setting up transfers at Betterment - the desktop browser and the mobile app.

 🗒️ Be aware that all transfers, including transfers between Betterment accounts, have a$10 minimum.

• Betterment transfers via desktop browser app

  1. Log into the Betterment website.

  2. On the Home tab, click on Transfers in the right-hand menu.

     

  3. On the “New transfer” tab of the Transfers page, click “Transfer between Betterment accounts.”

     

  4. Select your From account (Checking for the push method).

  5. Select your To account.

  6. Set your frequency.

  7. Enter an Amount to be transferred.

     

  8. Click the “Review Transfer” button.

  9. Review your transfer.

     1. If your selections are correct, click the “Submit transfer” button.
     2. If you need to make changes, click the back arrow in the upper left corner to return to the “Set up transfer” screen.

     

  10. You should see a notification that your transfer/deposit has been completed.

  11. Lastly, you should see the “Add a note” screen. You may add a note for your records or click the Skip button.

   ✅ You have completed the push method.

   

• Betterment transfers via mobile app

  1. Open the Betterment app on your mobile device.

  2. On the Home screen, Tap the Deposit button.

     

  3. Select the account you wish to deposit To.

     

  4. Adjust From account if necessary (Checking for the push method).

  5. To account should be selected based on the previous screen.

  6. To make this a recurring transfer, turn the “Make it recurring” switch to on and select your desired frequency settings.

  7. Enter an Amount to be transferred.

     

  8. Tap on “Review deposit.”

  9. Review your transfer.

     1. If your selections are correct, tap the “Submit transfer” button.
     2. If you need to make changes, tap the back arrow in the upper left corner to return to the previous screen.

     

  10. You should see a notification that your transfer/deposit has been completed.

  11. Lastly, you should see the “Add a note” screen. You may add a note for your records or click the Skip button.

  

   ✅ You have completed the push method.

   

Testing

If you would like to test your connection, you can go to your Sequence Activity Log and run a manual transfer by clicking on the “Transfer Manually” button located in the upper right of the Activity Log screen.

⚡ For faster manual transfers use money already in a pod. Transfers from pods to external accounts are 2x faster than transfers from external accounts to external accounts.