Software · head to head
Betterment vs Apple Pay
The short version
- Only Apple Pay has a free tier, so it costs nothing to try first.
- Each has a real cost: Betterment digital automated investing charges $5 per month fee for accounts under $24,000 balance; Apple Pay apple Pay works only in countries and regions that support contactless payments and is not available in all markets
- They diverge on capability: Betterment covers Automated investing, Apple Pay covers Digital wallet.
Where they differ
Only the attributes on which Betterment and Apple Pay actually diverge.
| Attribute | Betterment | Apple Pay |
|---|---|---|
| Starting price | $5/month | Free |
| Pricing model | subscription | free |
| Free tier | No | Yes |
| Platforms | Web, iOS, Android | IOS, WatchOS, MacOS |
| Founded | 2008 | 2014 |
Identical on both: user rating (Not yet rated), category (Unknown).
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 Betterment
- Automated investing
- Retirement planning
- Financial advisory
- Goal tracking
- Investment accounts
- Web support
- Android support
Only in Apple Pay
- Digital wallet
- Secure payments
- Contactless transactions
- P2P money transfers
- Credit cards
- Debit cards
- WatchOS support
- MacOS support
Both cover
- Bank accounts
- IOS support
What people use each for
The jobs each tool is most often brought in to do.
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
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
Where each one falls short
Documented limitations, not opinions. Every one is a constraint you would hit in normal use.
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
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
Pricing, plan by plan
Betterment
$5/monthNo published plan breakdown. See the Betterment review.
Apple Pay
Free- FreeFree
- Secure payments
- P2P transfers
- Transit passes
Which should you pick?
Choose Betterment if
- You need automated investing.
- You work on Web, iOS, Android.
- You also want retirement planning.
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.
Questions people ask
- Is Betterment or Apple Pay better?
- Neither clearly leads. Betterment starts at $5/month and Apple Pay at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
- Which is cheaper, Betterment or Apple Pay?
- Apple Pay has a free tier; the other does not. Paid plans start at $5/month for Betterment and Free for Apple Pay.
- Does Betterment or Apple Pay run on more platforms?
- Betterment runs on Web, iOS, Android. Apple Pay runs on IOS, WatchOS, MacOS.
- 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 Betterment best used for?
- Betterment is most often used for small investors starting with automated investing at no minimum balance, fee-only digital wealth management for accounts under $24,000 via $5/month flat fee, premium advisory access for high-net-worth individuals with $100,000+ balance. Of those, small investors starting with automated investing at no minimum balance and fee-only digital wealth management for accounts under $24,000 via $5/month flat fee are not what Apple Pay is typically brought in for.
- What can Betterment do that Apple Pay cannot?
- Betterment covers Automated investing, Retirement planning, Financial advisory, Goal tracking. Apple Pay covers Digital wallet, Secure payments, Contactless transactions, P2P money transfers. Both handle Bank accounts, IOS support.