Now hop on to SmartDeposit, the new feature from Betterment, that offers automated investing solution for excess cash in your bank account. You can now stop fretting about finding time for the right investment options. Betterment, the investing solution service is launching its SmartDeposit feature that will help members control their money. The service will keep a tab on an account holder’s bank account and invest cash which is just idling there. Earlier, getting cash to Betterment had been a cumbersome process. With SmartDeposit, Betterment is making it easier for its users by automating the process. Users can now set a predetermined threshold on their bank account balance. The feature is designed to detect the excess amount of money in the account, which is not being used and moving it to Betterment, which then invests it. SmartDeposits is one of the more interesting products from Betterment’s stables. Started as an investing solution, Betterment is a tool for those who need to start saving for the future as soon as possible. The tool works on optimising for solid returns for various levels of risk. The service asks a user age and investment goals to help calculate the suitable risk level. The company which claims to have 98, 000 accounts currently, launched in 2010 at the TechCrunch Disrupt NY in 2010. It received $105 million in funding through its various rounds. Betterment has been applauded for being ideal for people who have old, orphaned 401 (k) s at disposal which deserve to be aptly invested. The service handles IRAs exclusively with the option for a user to roll over old 401 (k) s from other employers to Betterment or opening a new traditional or Roth IRA with the company and using it to save for one’s retirement of any future financial target. With little or no paperwork or overhead, Betterment is striving to be as hassle free as possible for its users. It is also putting to practise a welcome approach for rookie investors, who don’t understand the nitty gritty of investing, as well as seasoned hands with a dedicated customer service. Betterment’s also offers more sophisticated tools for fine-tuning and specific asset allocation, over its close rival Vanguard. It provides advanced portfolio customisation features for member who have $100, 000 invested. But, its service charge though not very high, is more than Vanguard and others in the segment and manual options. According to sources, Betterment charges between 0.15 to 0.35 percent. The underlying funds that it buys, called ETFs cost 0.19 percent on average. However, that in comparison to many mutual funds that have expense rations of around 1 percent is good. This can help save money in the long run, and one can end up with more cash at retirement, by transferring from a high-cost fund to a service like Betterment.