Personal Finance · head to head
Apple Pay vs Betterment
The short version
- Only Apple Pay has a free tier, so it costs nothing to try first.
- Each has a real cost: Apple Pay apple Pay works only in countries and regions that support contactless payments and is not available in all markets; Betterment digital automated investing charges $5 per month fee for accounts under $24,000 balance
- They diverge on capability: Apple Pay covers Digital wallet, Betterment covers Automated investing.
Where they differ
Only the attributes on which Apple Pay and Betterment actually diverge.
| Attribute | Apple Pay | Betterment |
|---|---|---|
| Starting price | Free | $5/month |
| Pricing model | free | subscription |
| Free tier | Yes | No |
| Platforms | IOS, WatchOS, MacOS | Web, iOS, Android |
| Founded | 2014 | 2008 |
Identical on both: user rating (Not yet rated), category (Personal Finance).
What each one covers
Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.
Only in Apple Pay
- Digital wallet
- Secure payments
- Contactless transactions
- P2P money transfers
- Credit cards
- Debit cards
- WatchOS support
- MacOS support
Only in Betterment
- Automated investing
- Retirement planning
- Financial advisory
- Goal tracking
- Investment accounts
- Web support
- Android support
Both cover
- Bank accounts
- IOS support
What people use each for
The jobs each tool is most often brought in to do.
Apple Pay
- Contactless in store payment from iPhone and Apple Watchnot Betterment
- Paying in apps and on the web without entering card detailsnot Betterment
- Sending money between Apple users with Apple Cash and Tap to Cashnot Betterment
Betterment
- Small investors starting with automated investing at no minimum balancenot Apple Pay
- Fee-only digital wealth management for accounts under $24,000 via $5/month flat feenot Apple Pay
- Premium advisory access for high-net-worth individuals with $100,000+ balancenot Apple Pay
Where each one falls short
Documented limitations, not opinions. Every one is a constraint you would hit in normal use.
Apple Pay
- Apple Pay works only in countries and regions that support contactless payments and is not available in all markets
- Apple Cash is available only in the 50 United States, the District of Columbia and Puerto Rico
- Apple Cash Family accounts and Tap to Cash transactions are each capped at 2000 USD within a rolling seven day period
- Mac support requires a Touch ID equipped model
- A card works only if the issuing bank supports Apple Pay, and banks may charge their own overseas usage fees
Betterment
- Digital automated investing charges $5 per month fee for accounts under $24,000 balance
- Premium advisory service requires minimum balance of $100,000 in eligible investments
- Foreign transaction fees apply to checking account (though reimbursed after the fact)
- High-balance fee discounts only available above $1,000,000 account balance
Pricing, plan by plan
Apple Pay
Free- FreeFree
- Secure payments
- P2P transfers
- Transit passes
Betterment
$5/monthNo published plan breakdown. See the Betterment review.
Which should you pick?
Choose Apple Pay if
- You need digital wallet.
- You want to start without paying.
- You work on IOS, WatchOS, MacOS.
- You also want secure payments.
Choose Betterment if
- You need automated investing.
- You work on Web, iOS, Android.
- You also want retirement planning.
Questions people ask
- Is Apple Pay or Betterment better?
- Neither clearly leads. Apple Pay starts at Free and Betterment at $5/month, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
- Which is cheaper, Apple Pay or Betterment?
- Apple Pay has a free tier; the other does not. Paid plans start at Free for Apple Pay and $5/month for Betterment.
- Does Apple Pay or Betterment run on more platforms?
- Apple Pay runs on IOS, WatchOS, MacOS. Betterment runs on Web, iOS, Android.
- Can I use Apple Pay for free?
- Yes. Apple Pay has a free tier, so you can try it without paying. Betterment starts at $5/month.
- What is Apple Pay best used for?
- Apple Pay is most often used for contactless in store payment from iphone and apple watch, paying in apps and on the web without entering card details, sending money between apple users with apple cash and tap to cash. Of those, contactless in store payment from iphone and apple watch and paying in apps and on the web without entering card details are not what Betterment is typically brought in for.
- What can Apple Pay do that Betterment cannot?
- Apple Pay covers Digital wallet, Secure payments, Contactless transactions, P2P money transfers. Betterment covers Automated investing, Retirement planning, Financial advisory, Goal tracking. Both handle Bank accounts, IOS support.