Betterment scams: how to spot fake Betterment texts, calls and emails
Quick answer
Scammers pretend to be Betterment, the investing company, to get your password or login code. Betterment says it will never call, text or email to ask for your password or other sensitive details. If a message asks, ignore it and log in through the app or a site you typed yourself.
- Comes by
- Text, Email, Phone call
- Pretends to be
- Betterment
- Last updated
How it works
Betterment is a real investing and banking company. Scammers use its name because people trust it with money, which makes a message about your account feel plausible.
The usual script is phishing: a text, email or call says there's a problem with your account, a suspicious login or a time-limited offer, and pushes you to click a link or read out a code. The link leads to a lookalike login page. Whatever you type goes to the scammer, who then tries it on the real account.
In January 2026 Betterment reported a security incident in which someone used impersonation to get into some of its systems and sent a fake crypto offer to some customers. Betterment says customer accounts weren't accessed and no passwords or login credentials were taken, but some names, emails, addresses, phone numbers and birthdates may have been viewed, and the offer should be ignored. Details like those are exactly what make a follow-up scam message sound real, so treat unexpected contact with extra care.
The FTC also warns about investment scams in general: someone promises big, easy returns, often in crypto, points you to a site or app that isn't really investing your money, and shows fake reports of growth to get you to put in more.
Red flags
- A message about your account that arrives out of the blue and asks you to click a link
- Anyone asking for your password or a login code by call, text or email
- A crypto or investment offer that guarantees high returns
- Urgency: your account will be locked or the offer expires today
- A web address that isn't the one you normally use to log in
- Generic greetings and typos in a message that claims to be from your investment company
Example message
Betterment security alert: we detected a suspicious sign-in to your account. Verify your identity within 24 hours at [link] or your account will be restricted.
What to do
- 1
Don't click or reply
Delete the message. If you're worried about your account, open the Betterment app or type the address into your browser yourself.
- 2
Check with Betterment directly
Use contact details from the app or the company's own website, not from the message. Betterment says it won't ask for your password or 2FA code except when you log in or edit personal information in the app.
- 3
If you entered your password or a code
Change your Betterment password right away, change it anywhere else you used it, and make sure two-factor authentication is on. Authenticator apps are safer than text codes.
- 4
If money moved
Call your bank or Betterment using numbers you look up yourself, and tell them it was fraud. Ask them to stop or reverse the transfer.
- 5
Consider a credit freeze
If you shared personal details such as your Social Security number, a credit freeze with Equifax, Experian and TransUnion is free and stops new accounts being opened in your name.
Report it
Check if your details are exposed with Serus
Scammers find your number and address on data brokers and people-search sites. Serus removes them.
Why you got it
Scammers pick targets from lists of names, emails and phone numbers that come from data breaches and people-search sites. If your contact details are on those sites, you're easier to reach with a convincing message. Serus finds where your details are listed and removes them where possible, and alerts you if they show up in a breach. See our guide on what to do after a data breach.
Frequently asked
Is Betterment a scam?
No. Betterment is a real company and the target of impersonators. The scam is the fake message that uses its name.
Will Betterment ask for my password?
Betterment says it will never call, text or email you to ask for your password or other sensitive personal information.
Was my account hacked in the January 2026 incident?
Betterment says customer accounts weren't accessed and no passwords or login credentials were stolen. Check its customer update page for current details.
How do I report a fake Betterment message?
Report it to the FTC at ReportFraud.ftc.gov. You can also tell Betterment through the app or its website.
Sources
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