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Betterment vs Square Cash

Betterment logo

Betterment

Software

Your path to financial independence

From
$5/month
Rated
-
Full reviewWebsite
S

Square Cash

Software

Send money easily with Square Cash

From
Free
Rated
-
Full reviewWebsite

The short version

  • Only Square Cash 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; Square Cash cash App Green status (higher savings rate, free in-network ATM withdrawals, overdraft coverage) requires spending $500 or depositing $300 in Qualifying purchases/deposits per month, per the App Store listing
  • They diverge on capability: Betterment covers Automated investing, Square Cash covers Money transfers.

Where they differ

Only the attributes on which Betterment and Square Cash actually diverge.

Attributes where Betterment and Square Cash differ
AttributeBettermentSquare Cash
Starting price$5/monthFree
Pricing modelsubscriptionfree
Free tierNoYes
PlatformsWeb, iOS, AndroidIOS, Android
Founded20082014

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

Only in Square Cash

  • Money transfers
  • Instant deposits
  • Transaction history
  • Customer support

Both cover

  • Bank accounts
  • IOS support
  • Android 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 Square Cash
  • Fee-only digital wealth management for accounts under $24,000 via $5/month flat feenot Square Cash
  • Premium advisory access for high-net-worth individuals with $100,000+ balancenot Square Cash

Square Cash

  • Budget Managementnot Betterment
  • Expense Trackingnot Betterment
  • Investment Trackingnot 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

Square Cash

  • Cash App Green status (higher savings rate, free in-network ATM withdrawals, overdraft coverage) requires spending $500 or depositing $300 in Qualifying purchases/deposits per month, per the App Store listing

Pricing, plan by plan

Betterment

$5/month

No published plan breakdown. See the Betterment review.

Square Cash

Free
  • FreeFree
    • P2P transfers
    • Instant deposits
    • Mobile app

Which should you pick?

Choose Betterment if

  • You need automated investing.
  • You work on Web, iOS, Android.
  • You also want retirement planning.
Betterment review

Choose Square Cash if

  • You need money transfers.
  • You want to start without paying.
  • You work on IOS, Android.
  • You also want instant deposits.
Square Cash review

Questions people ask

Is Betterment or Square Cash better?
Neither clearly leads. Betterment starts at $5/month and Square Cash at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Betterment or Square Cash?
Square Cash has a free tier; the other does not. Paid plans start at $5/month for Betterment and Free for Square Cash.
Does Betterment or Square Cash run on more platforms?
Betterment runs on Web, iOS, Android. Square Cash runs on IOS, Android.
Can I use Square Cash for free?
Yes. Square Cash 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 Square Cash is typically brought in for.
What can Betterment do that Square Cash cannot?
Betterment covers Automated investing, Retirement planning, Financial advisory, Goal tracking. Square Cash covers Money transfers, Instant deposits, Transaction history, Customer support. Both handle Bank accounts, IOS support, Android support.
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