All deposit balances on the SaveBetter platform are held at FDIC insured financial institutions
Federal Deposit Insurance Corporation
All participating banks are members of the FDIC. Deposits in participating banks are insured by the FDIC up to the limits of federal law. The standard insurance amount is $250,000 per depositor, per insured bank, for each deposit account ownership category.
SOC2 certified platform
SOC 2 is a designation that confirms a company’s information security measures are up to snuff and have been properly executed. More precisely, SOC 2 ensures that an online savings bank has detailed, ongoing internal procedures to keep their customers’ information safe and protected.
How taxes are taken care of
You will receive a 1099-INT for each calendar year for income tax reporting requirements.
Why SaveBetter is, well, better
The SaveBetter name and logo are trademarks of SaveBetter LLC. The Deposit Solutions name and logo are trademarks of Deposit Solutions GmbH, used with permission.
© 2021 SaveBetter LLC. All rights reserved.
APY means Annual Percentage Yield.
Banking services provided by Central Bank of Kansas City. Each customer authorizes the Service Bank to hold the customer’s funds in a custodial capacity in order to facilitate the customer’s deposits to and withdrawals from deposit accounts at various Product Banks that the customer requests through SaveBetter.com. The Service Bank does not establish the terms of the deposit accounts, or offer the deposit accounts to customers, and provides no advice to customers about deposit accounts. Central Bank of Kansas City, Member FDIC, d.b.a. Central Payments is the Service Bank.