You can set it up to sync to Glacier/S3/Dropbox/GDrive/OneDrive/Local NAS/FTP server or any combination of them if you want to have multiple copies.
I get 1TB of OneDrive free with Office365 so backup to that but also to S3 so that if I was to stop using Microsoft I'm not tied down.
Has unlimited upload rate; never deletes files; good restore client; can be bought with unlimited upgrades for $60 and at 1TB (without taking into account accessing the data) on S3 you'd pay $30/month | $24/month reduced redundancy or $10/month on glacier for less frequently accessed data.
Because it's a bit more expensive I only tend to put absolute essentials (like photos) on S3. Arq does also compress to help save some cost here.
Worth mentioning that Arq also encrypts everything client side before transmitting so everything is stored encrypted as well. Might be important for you.