The policy states that Betterment retains all customer data for a minimum of three years due to U.S. regulatory requirements, and continues to retain data on closed or deleted accounts for legal, regulatory, and security purposes.
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 that deletion requests, including account closure requests, do not result in full data removal; data is retained for at minimum three years under stated regulatory obligations, and potentially longer for legal or security purposes.
The updated policy discloses a new Fully Paid Securities Lending program through Apex Clearing, under which Betterment will share customer personal information and account details with Apex if customers choose to participate. The revised terms also establish that generative AI service providers have committed that personal information will not be used for model training. For customers participating in promotional offers requiring offline fulfillment, the policy now explicitly states that personal information including mailing address may be shared with third-party partners. You can review the FPSL Program supplemental disclosures for details about the securities lending arrangement, or choose not to participate in the program.
View change record →Under these terms, customers who close their accounts or submit deletion requests should expect that Betterment will retain their personal and financial information for at least three years. The policy states this retention is required by U.S. regulatory requirements and that deletion requests may be denied on these grounds.
Cross-platform context
See how other platforms handle Minimum Three-Year Data Retention Requirement and similar clauses.
Compare across platforms →"Due to US regulatory requirements, we do not delete residual copies of outdated information and must preserve all customer data for a minimum of three years. Please note that we retain information on deleted accounts as required for legal, regulatory and security purposes.Excerpt from Betterment's Privacy Policy
1) REGULATORY LANDSCAPE: The three-year minimum retention period references U.S.
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This provision establishes that deletion requests, including account closure requests, do not result in full data removal; data is retained for at minimum three years under stated regulatory obligations, and potentially longer for legal or security purposes.
Under these terms, customers who close their accounts or submit deletion requests should expect that Betterment will retain their personal and financial information for at least three years. The policy states this retention is required by U.S. regulatory requirements and that deletion requests may be denied on these grounds.
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