Betterment's services are intended for adults and the company states it does not knowingly collect data from children under 13, consistent with federal law.
This analysis describes what Betterment's agreement states, permits, or reserves. It does not constitute a legal determination about enforceability. Regulatory applicability and practical outcomes may vary by jurisdiction, enforcement context, and individual circumstances. Read our methodology
This provision establishes the minimum age restriction for Betterment's services and confirms that any inadvertently collected data from minors will be deleted.
New provision adds compliance with COPPA and demonstrates commitment to child protection, a standard regulatory requirement for services handling personal data.
View full change record →This provision means Betterment does not offer services to children under 13 and will delete any such data if discovered, which is required under federal law but provides limited additional protection for minors.
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The Service is intended for general audiences and is not directed to children under 13. We do not knowingly collect personal information from children under 13. If you are a parent or guardian and believe that your child under the age of 13 has provided us with personal information without your cons...
enableGpcSdk: true, gpcSetting: { privacyPolicyLink: '/Privacy-Security-Policy-a-282.html' }
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"Our services are not directed to children under the age of 13, and we do not knowingly collect personal information from children under 13. If we learn that we have collected personal information from a child under 13, we will take steps to delete that information as soon as possible.— Excerpt from Betterment's Betterment Privacy Policy
1) REGULATORY LANDSCAPE: This provision addresses the Children's Online Privacy Protection Act (COPPA), which prohibits collecting personal information from children under 13 without verifiable parental consent. The FTC enforces COPPA. For financial services platforms, the minimum age for account opening is typically higher than 13 due to contract capacity requirements and financial regulatory standards, which may make this provision largely precautionary. 2) GOVERNANCE EXPOSURE: Low. The provision is standard COPPA boilerplate. Given that Betterment requires users to be of legal age to enter financial contracts, the practical risk of collecting data from children under 13 is low but the disclosure remains a regulatory requirement. 3) JURISDICTION FLAGS: COPPA applies nationally. California's Age-Appropriate Design Code Act imposes additional requirements for services that are likely to be accessed by minors under 18, which may require assessment depending on Betterment's user base demographics. 4) CONTRACT AND VENDOR IMPLICATIONS: Betterment should confirm that age verification mechanisms at account registration are sufficient to satisfy COPPA's reasonable measures standard and that any analytics or marketing vendors are not collecting data from underage users. 5) COMPLIANCE CONSIDERATIONS: Compliance teams should confirm that account registration flows include effective age gates; establish a process for handling reports of underage user accounts including prompt data deletion; and assess whether California's Age-Appropriate Design Code applies to any Betterment products.
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This provision establishes the minimum age restriction for Betterment's services and confirms that any inadvertently collected data from minors will be deleted.
This provision means Betterment does not offer services to children under 13 and will delete any such data if discovered, which is required under federal law but provides limited additional protection for minors.
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