Yes, you may opt out of holding cash at a specific bank. To opt out of a specific bank, please email us. If you already have cash at one of our program banks, you can still choose to opt out of that specific bank. Regardless of the number of program banks participating, the total amount of FDIC insurance available to you through Cash Reserve will be lower by $250,000 for each bank you opt out from. If you have non-Betterment funds deposited at a program bank already and elect not to opt out, ...