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If you’ve been looking to really maximize your savings but have just found the whole process way too difficult, our SaveBetter review could be just what you need.

As you’ll see, it offers a great platform for helping you to find the best savings products for you as well as manage them after you sign up – all in one place.

With literally thousands of savings accounts out there, it really can be overwhelming trying to find the best one for you. So SaveBetter’s service helps you with this, by allowing you to compare multiple accounts, apply for them and even continue to contribute to them from its own platform.

And the best part is it’s completely free!

Keep reading to find out more about whether SaveBetter could help you with your savings.

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What is SaveBetter?

SaveBetter provides fee-free access to a number of different savings products in one place. Not only can users apply for these products through the SaveBetter platform, but they can continue to access their accounts and track the performance of their savings through a single dashboard.

The goal of is to help people find better options to meet their savings goals by streamlining the whole process. That is, by having a one-stop shop through the SaveBetter platform, users will ideally be able to maximize their savings by being able to see all of their options in the one place.

While it was only released in the US fairly recently, SaveBetter’s service has actually been around for a number of years in over 20 other countries. This means that for anyone who may be nervous about this being a particularly new site, this shouldn’t be cause for concern.

That said, it is still a relatively small operation in terms of what it offers to US-based customers. At the same time, as you’ll see from our SaveBetter review, bigger doesn’t necessarily mean better as this may just have everything you need to build your savings.

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How SaveBetter works

SaveBetter’s platform works by having you see, apply to and continue to access your savings products all through the same platform. The process is as follows:

  1. Review the various savings products – has partnered with several banks to give you access to their various savings products, all of which you can see directly through SaveBetter’s platform.
  2. Apply to as many or as few of these as you like – After you’ve reviewed the various offers, you’re then able to apply for whichever FDIC-protected accounts you think align with your savings goals. These can be at different banks or the same bank and they also can be different account types.
  3. Add funds to these accounts – Any funds you add to these accounts are transferred through a custodian bank, Central Bank of Kansas City (CBKC), to each of your accounts. This means that CBKC essentially acts as a pass-through to your actual accounts – and don’t worry, it’s 100% secure so your money will definitely end up where it’s supposed to be.
  4. Monitor all of your accounts from SaveBetter’s dashboard – One great advantage of is that you can review all of your accounts from the one place, making it much easier to keep an eye on how your savings are growing.
  5. Access all relevant information from the dashboard when you need it – It can be a pain for things like tax time or when you change address to have to go to each bank and figure out how to access or update this information. However, here, you can do all that directly through the dashboard to make things as easy as possible.

Products offered through SaveBetter

SaveBetter’s platform has several products on offer as provided by their partner banks. These include:

High-yield savings accounts offers several high-interest savings accounts, which are great for holding cash like your emergency fund. 

That way, you’ll be able to earn a good amount of interest on them (including better than you’d get from a standard savings account) while still ensuring you have access to the money if you need it.

Which high-yield savings account do we recommend on

Take a look at the Ponce Bank Money Market Deposit Account. It provides:
  • 0.75% interest – which is 9.3 times higher than the national rate
  • No fees
  • FDIC insured
  • $1 minimum opening deposit
  • Interest is compounded daily and credited monthly

Fixed term CDs

Certificates of deposit, or CDs, involve you agreeing to leave your money in an account for a certain period of time without touching it. In exchange, the bank will pay you an increased interest rate.

It’s a great product for people who have some savings they know they’ll need at a certain point in future, but not yet, so want to earn some serious interest on it in the meanwhile.

Which fixed term CD do we recommend on

The Ponce Bank CD is a good option for anyone looking to keep their money somewhere for a relatively short period of time while earning increased interest on it. While most CDs ask you to not touch your money for several years, you’re much less restricted here. It offers:
  • 1.31% interest – which is 7.7 times higher than the national average for CDs
  • 13-month term – great if you have a major purchase coming up next year so don’t want to spend the money just yet
  • Fee-free
  • FDIC insured
  • $1 minimum opening deposit

Who is SaveBetter for? is going to be particularly good for certain people, especially:

  • Anyone who knows they should be saving but is feeling overwhelmed by all the options available. There are literally thousands of savings products in the market, so it can be hard to compare all of these and figure out which one is best for you. In those cases, having a service like SaveBetter’s is going to be helpful for comparing several products in one place.
  • Anyone wanting to save more but hasn’t even started to see how they could do that. Much like the person above, figuring out how to get started with sorting out your finances can really feel like a lot to handle. This is when streamlining things, especially so that you can see everything in one place, can really help to make this more manageable.
  • Anyone simply wanting to check if there’s a better saving product out there than the one they currently have. You may have your savings in a great account right now, but it never hurts to see what else is out there to check you’re getting the best deal. In that case, taking a look at what offers could help.

You may also be interested in: 43 Easy Ways to Drastically Cut Expenses

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Who SaveBetter isn’t for

As with everything, SaveBetter’s service isn’t going to be for everyone. For example, you may want to consider another option if:

  • You’re still paying off high-interest debt – Everyone should have an emergency fund of at least three to six months of living expenses, ideally kept in a high-interest savings account. However, if you already have that but still have high-interest debt, I wouldn’t generally recommend focusing on your savings right now. Instead, aim to do everything you can to destroy your debt and then you can look into saving and investing more.
  • You’re happy keeping your savings in your current account – SaveBetter’s platform is going to be best for people who really need to streamline the savings process. That said, it’s more than possible that you already have your savings in a single account that you’re satisfied with. That means that if you have no need at the moment to make the savings process easier or look for a better product, you probably don’t need to consider SaveBetter’s service right now.
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SaveBetter partner banks has several partner banks in its system, each of which have several products available under each of the categories we just mentioned. A few of them can be found below, but you can see the full list directly on SaveBetter’s website.

Ponce Bank

Ponce Bank was established in 1960, having originally been founded in The Bronx. It’s now got branches at various places throughout New York and New Jersey.

Among other things, it’s been certified as a Community Development Financial Institution (CDFI) by the US Department of Treasury due to the fact that it has invested more than 80% of its assets in low and moderate income communities.

Continental Bank

Continental Bank is much younger, having been founded in 2003 in Utah. It’s particularly focused on supporting small- to medium-sized businesses, although does offer savings products to individuals too.

Both Continental Bank and Ponce Bank provide the most savings products in SaveBetter.

Central Bank of Kansas City

The Central Bank of Kansas City was first started in 1950 and has grown since then throughout the city. Like Ponce Bank, it has also been certified as a CDFI.

As you saw earlier in our SaveBetter review, CBKC’s biggest role here is as the custodian when you deposit funds through the platform in your various savings products. It does, however, also offer savings products itself much like the other banks.

man reading if savebetter is legit on his laptop

Is SaveBetter legit?

SaveBetter’s service is definitely legit. While it has a relatively small range of products on offer at the moment, the products are legitimate, particularly given that they are all FDIC insured. This ensures that your money is secure, including when you transfer it through the SaveBetter platform to any accounts held by its partner banks.

When looking at SaveBetter reviews online, no red flags were obvious. That said, to be fair, there currently aren’t that many SaveBetter reviews available, given that this is a relatively new system in the US.

But any comments that are available, including on its overseas services as well as reviews of the specific partner banks, are generally positive. Any criticisms appear to be fairly minor and are about the banks themselves, mainly relating to normal customer service-related complaints that seem to have been resolved pretty quickly. 

You may also be interested in: 54 Frugal Tips to Live Cheap and Save You Money

SaveBetter review: Summary

Based on our SaveBetter review, you can generally break this down as follows:

  • No fees charged by or on the accounts – the entire process is free!
  • Great that you can streamline both the application process and the management of these accounts by doing it all in one place
  • Good for easily comparing different products
  • All products are entirely secure, including that they’re FDIC insured
  • Limited range of products, so still worth shopping around a bit to double check, although those that are on this platform offer interest rates that are very competitive in the overall market
  • If you intend to sign up for any of SaveBetter’s savings products while also having accounts outside of this system, it won’t be quite as efficient compared to if you had all your savings in accounts on SaveBetter’s platform

Final thoughts based on our SaveBetter review

Based on our SaveBetter review, this platform offers some very solid products that will go a long way towards boosting your savings. Even if it isn’t the biggest product range in the world, a quick search will show you that the interest rates on offer are seriously competitive compared to what else is out there.

However, the real benefit of this system is just how much time it saves you. That is, by being able to see all of your savings information in one place, it makes it much easier for you to manage your money by immediately being able to see the status of your savings. 

This, in turn, means you’re much more likely to actually organize your savings so you’re earning as much interest as possible, while also increasing your savings rate.

SaveBetter’s services won’t be for everyone, especially if you have a savings account elsewhere with an interest rate that’s comparable to what you see here. If that’s you, then there’s probably not much benefit in moving over.

But if you’re trying to kick your savings into gear and have needed a bit of a push to sort it all out, you may want to give SaveBetter’s platform a second look. When it comes to your savings, it really could make your life a lot easier.

Find out more about SaveBetter here.

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