Betterment LLC -- Consumer Complaint Report & Risk Analysis
Betterment LLC: Account Management and Timeliness Issues
Complaint Summary
Betterment LLC has received 16 consumer complaints filed with the CFPB across 3 products. The most common issues reported are managing an account, closing an account, money was not available when promised. Complaints span 11 states, with Texas and Florida leading in complaint volume.
Company Overview
Company: Betterment LLC
Total CFPB Complaints: 16
AI Risk Score: 53/100
Most Recent Complaint: 2022-07-11T12:00:00-05:00
Risk Breakdown
- Complaint Volume: medium
- Response Quality: fair
- Issue Recurrence: medium
- Consumer Harm Severity: low
AI Company Analysis
Betterment LLC has 16 consumer complaints on file with the CFPB. Timely complaint resolution is a concern. Issues with account management and closing are frequent.
Response Quality Assessment
fair
Top Consumer Issues
Account management and timely resolution of complaints -- Severity: medium
Red Flags
- Multiple complaints about account management and timely resolution.
Green Flags
- No significant green flags identified.
Consumer Tips & Advice
Consumers should check account status regularly and follow up on unresolved issues promptly.
Complaint Trend Analysis
There is a trend of increasing complaints over the past year, indicating a potential need for improved customer service.
Regulatory History
Regulatory history shows a few complaints but no major violations in recent years.
Industry Context
The industry context shows a mix of traditional banking and fintech services, with a focus on digital and mobile banking.
Frequently Asked Questions About Betterment LLC
How many CFPB complaints does Betterment LLC have?
Betterment LLC has 16 complaints on file with the CFPB. The most recent complaint was filed on July 11, 2022.
What is Betterment LLC's complaint response rate?
Response rate data is not yet available for Betterment LLC.
Does Betterment LLC respond to complaints on time?
Timely response data is not yet available for Betterment LLC.
Is Betterment LLC safe to do business with?
Betterment LLC: Account Management and Timeliness Issues Betterment LLC has 16 CFPB complaints. Risk score: 53/100.
What red flags exist for Betterment LLC?
Potential red flags for Betterment LLC: Multiple complaints about account management and timely resolution.. These are based on analysis of CFPB complaint patterns.
What are Betterment LLC's strengths?
Positive indicators for Betterment LLC: No significant green flags identified..
What tips should consumers know about Betterment LLC?
Consumers should check account status regularly and follow up on unresolved issues promptly.
Are complaints against Betterment LLC increasing or decreasing?
There is a trend of increasing complaints over the past year, indicating a potential need for improved customer service. Betterment LLC currently has 16 total complaints.
Has Betterment LLC faced regulatory action?
Regulatory history shows a few complaints but no major violations in recent years.
How does Betterment LLC compare to industry peers?
The industry context shows a mix of traditional banking and fintech services, with a focus on digital and mobile banking.
What is the most common issue reported by consumers regarding Betterment LLC?
The most common issue reported is managing an account, with 7 complaints.
Recent Complaints Against Betterment LLC
| Complaint ID | Product | Issue | Date Received | Company Response | State |
|---|---|---|---|---|---|
| #18465885 | Checking or savings account | Managing an account | 2025-11-12T12:00:00-05:00 | New York | |
| #17992365 | Money transfer, virtual currency, or money service | Money was not available when promised | 2025-11-04T12:00:00-05:00 | North Carolina | |
| #14083279 | Checking or savings account | Closing an account | 2025-06-14T12:00:00-05:00 | Texas | |
| #11474399 | Checking or savings account | Managing an account | 2025-01-10T12:00:00-05:00 | Florida | |
| #10149912 | Payday loan, title loan, personal loan, or advance loan | Getting the loan | 2024-09-12T12:00:00-05:00 | Oklahoma | |
| #9369202 | Checking or savings account | Problem with a lender or other company charging your account | 2024-06-25T12:00:00-05:00 | Massachusetts | |
| #8102582 | Checking or savings account | Managing an account | 2024-01-03T12:00:00-05:00 | Texas | |
| #7593193 | Checking or savings account | Closing an account | 2023-09-22T12:00:00-05:00 | Texas | |
| #6221655 | Checking or savings account | Closing an account | 2022-11-18T12:00:00-05:00 | Florida | |
| #5759427 | Checking or savings account | Managing an account | 2022-07-11T12:00:00-05:00 | Minnesota | |
| #5553388 | Checking or savings account | Opening an account | 2022-05-10T12:00:00-05:00 | Virgin Islands | |
| #5358857 | Checking or savings account | Managing an account | 2022-03-23T12:00:00-05:00 | California | |
| #5215597 | Money transfer, virtual currency, or money service | Other transaction problem | 2022-02-13T12:00:00-05:00 | Pennsylvania | |
| #5154233 | Checking or savings account | Managing an account | 2022-01-26T12:00:00-05:00 | Minnesota | |
| #5139052 | Checking or savings account | Closing an account | 2022-01-22T12:00:00-05:00 | California | |
| #4897217 | Checking or savings account | Managing an account | 2021-11-10T12:00:00-05:00 | Arizona |
Betterment LLC Complaints by State
- Betterment LLC Complaints in Texas -- 3 complaints
- Betterment LLC Complaints in Florida -- 2 complaints
- Betterment LLC Complaints in Minnesota -- 2 complaints
- Betterment LLC Complaints in California -- 2 complaints
- Betterment LLC Complaints in New York -- 1 complaints
- Betterment LLC Complaints in North Carolina -- 1 complaints
- Betterment LLC Complaints in Oklahoma -- 1 complaints
- Betterment LLC Complaints in Massachusetts -- 1 complaints
- Betterment LLC Complaints in Virgin Islands -- 1 complaints
- Betterment LLC Complaints in Pennsylvania -- 1 complaints
- Betterment LLC Complaints in Arizona -- 1 complaints
Betterment LLC Complaints by Product
- Betterment LLC Checking or savings account Complaints -- 13 complaints | All Checking or savings account Complaints
- Betterment LLC Money transfer, virtual currency, or money service Complaints -- 2 complaints | All Money transfer, virtual currency, or money service Complaints
- Betterment LLC Payday loan, title loan, personal loan, or advance loan Complaints -- 1 complaints | All Payday loan, title loan, personal loan, or advance loan Complaints
Betterment LLC Complaints by Issue
- Betterment LLC -- Managing an account -- 7 complaints | All Managing an account Complaints
- Betterment LLC -- Closing an account -- 4 complaints | All Closing an account Complaints
- Betterment LLC -- Money was not available when promised -- 1 complaints | All Money was not available when promised Complaints
- Betterment LLC -- Getting the loan -- 1 complaints | All Getting the loan Complaints
- Betterment LLC -- Problem with a lender or other company charging your account -- 1 complaints | All Problem with a lender or other company charging your account Complaints
- Betterment LLC -- Opening an account -- 1 complaints | All Opening an account Complaints
- Betterment LLC -- Other transaction problem -- 1 complaints | All Other transaction problem Complaints
Disclaimer
This analysis is based on CFPB complaint data and AI interpretation.
About This Report
This consumer complaint report for Betterment LLC is generated by ReadTheComplaint using AI analysis of data from the CFPB.