SaveBetter is a digital platform that gives savers unparalleled access to a variety of deposit products through the convenience of a single account, helping you unlock the growth potential of your cash savings.

SaveBetter customers use the platform to fund Federal Deposit Insurance Corp. (FDIC) insured deposit products offered by numerous U.S. banks with a wide range of maturities and interest rates, allowing you to build a savings strategy to suit your earning and liquidity needs.

SaveBetter is not a bank. It’s a New York-based financial technology company (“Fintech” for short) that provides the digital “storefront” where banks can promote their deposit products.

SaveBetter.com is operated by SaveBetter LLC, a 100% subsidiary of Deposit Solutions LLC (Deposit Solutions). Headquartered in New York, Deposit Solutions provides a proprietary open architecture platform for deposits products. Deposit Solutions helps banks improve their deposit funding by offering national reach for their retail deposit products, and provides savers with better access, more choice and higher convenience when evaluating savings products from FDIC insured banks.

Deposit Solutions LLC is a 100% subsidiary of Raisin DS GmbH, a trailblazer for open banking in the deposits and investments space.

Your SaveBetter account gives you access to savings accounts and Certificates of Deposit (CDs) offered by a variety of banks with the security of FDIC insurance. These products include:

• High-yield Savings Account (HYSA). As its name indicates, this account type functions like a traditional savings account—with typically no restrictions on depositing and withdrawing funds—but earns interest at rates that are higher than the national average for standard savings accounts.

• Money Market Deposit Account (MMDA). Also known as a money market account or MMA, this type of savings account offers a varying rate that allows you to earn interest on your funds with maximum flexibility for withdrawals. Like a HYSA, an MMDA offers features of a traditional savings account with typically higher returns.

• No Penalty CD. Through the flexibility of a No Penalty CD, you can lock in a competitive rate for a fixed term with the option to make a full withdrawal at any time beginning seven (7) calendar days after funding without having to pay a penalty for the early termination.

• Fixed Term CD. With this longstanding savings vehicle, funds are held for a fixed term, and a competitive interest rate provides safe, predictable earnings. In contrast to No Penalty CDs, typically you are charged a fee if you do not complete the full term of the Fixed Term CD.

Yes! You can open savings account or deposit money in a range of CD products from one of our partner banks once you are a customer at SaveBetter. Other banking services like checking accounts and online bill pay are not currently available through SaveBetter.

If you would like to see these or other features added to SaveBetter, let us know by emailing us at [email protected].

SaveBetter customers’ funds are held in a custodial account with the bank that is providing your selected savings product(s). All banks involved in the SaveBetter platform are FDIC insured, so your funds are held at federally insured bank at all times.

SaveBetter does not charge our customers any fees.

Our partner banks pay fees to SaveBetter in return for marketing their products to savers across the United States. This allows us to provide our platform and services free to our valued customers!

Interest is compounded daily and posted to your account monthly.

Yes! A depositor’s savings are insured by the FDIC up to the maximum amount in accordance with and as permitted by law at each bank holding their funds.

The standard deposit insurance coverage limit is $250,000 per depositor, per FDIC-insured bank, per account ownership category. Ownership categories as defined by the FDIC include single bank accounts (owned by one person/depositor) and joint bank accounts (owned by two or more persons/depositors). Revocable trust accounts and some types of retirement accounts (e.g., IRAs) are among the other ownership categories covered by FDIC insurance.

Deposits held in different ownership categories are separately insured, even if held at the same bank.

All deposits you have at a bank — whether facilitated through SaveBetter or otherwise — count toward the deposit insurance limit. If funds held at a bank in a certain ownership category exceed the coverage limit, then the amount in excess of the limit will not be insured.

At SaveBetter, cybersecurity is our priority. SaveBetter is a SOC 2 certified platform, meaning it has been validated by outside auditors across five (5) key information security principles. We also use a variety of measures to protect our customers' data, privacy and transactions, including:

• User authentication. The SaveBetter platform uses multi-factor authentication combined with leading authentication technology to validate our customers’ identities.

• Data encryption. Your personal information is encrypted in-transit and at rest using advanced cryptographic security algorithms.

• Site protection. Cloudflare™ advanced internet protection technologies are implemented to protect SaveBetter.com from malicious actors, botnets and denial of service attacks (DDOS).

• Monitoring. An always-on information security monitoring platform detects and alerts us to information security events.

• Assessments. Our platform undergoes vigorous security assessments and testing throughout the lifecycle of application development, from architecture planning to production phases.

Cloudflare™ is a registered trademark of Cloudflare, Inc.

We team up with banks that offer consumers competitive interest rates for deposit products. However, banks set the rates for the products they offer independently and may take into consideration facts like market conditions or their individual funding needs. Please note, rates may be subject to change.

Check the Explore Products page to see the partner banks in our network.