Acorns

Acorns

 3.7/5 (131 ratings)
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Written by Lorraine Roberte
Edited by Shawn Richardson

About Acorns

This profile has not been claimed by the company. See reviews below to learn more or submit your own review.

Acorns is an investment app that lets you easily invest your spare change from purchases made on linked credit or debit cards. This money can go into investment accounts that match your risk tolerance. Acorns only offers managed portfolios of ETFs (exchange-traded funds) for investing, but it also provides checking accounts and bonus investments for shopping with over 12,000 brands.

Overall Satisfaction Rating

  • 5 stars
  • 4 stars
  • 3 stars
  • 2 stars
  • 1 stars

Pros

  • Automatically invests spare change
  • Earn bonus investments for shopping
  • Sustainable portfolios available
  • Bitcoin-linked ETF available

Cons

  • Can only invest in ETFs
  • $50 ETF transfer fee

Bottom Line

The Acorns app makes it simple for you to invest automatically. Additional perks, like checking accounts with smart deposits, can help you earn more. However, you might want a more robust platform for serious investing.

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Acorns Reviews

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Page 2 Reviews 10 - 40
Rated with 1 star
Verified Reviewer
Original review: Jan. 7, 2022

I woke up this morning to find ACORNS took $126.44 from my account. All I wanted was the spare change to go into Acorns. Called and texted customer service. Guess what? They blocked me. Used my mother's phone to call this company and they have a whole different name. The number magically disappeared, They froze my account. I had to pay my bank $35 to stop the transaction... STAY FAR AWAY FROM ACORNS.

7 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Nov. 9, 2021

I have had an investing account with Acorns for a couple years now with no issue, but recently I get my round ups restarted, open a retirement account, and a checking account with them as they were offering a couple promotions. Well as soon as my direct deposit confirms to my Acorns checking account and my debit card is activated, my ENTIRE account is suspended because suddenly they are "audited" and need to confirm my address. They didn't halt transfers, or restrict a couple features, no they completely suspended my entire account refusing me access to even SEE my own account balances or check on ANYTHING. I supply them with a renter's insurance policy bill, internet bill, home security bill, water bill, energy bill, and gas bill, all in my name at the address in question. They state that it will take 1-2 days to review, completely unsatisfied with that answer I go to their site to chat with a live agent.

It takes almost 30 minutes to get a live agent who does nothing but says my ticket has been submitted to an "internal review team" and will take 1-2 days before I can access my account again. Still unsatisfied, I call them and wait on hold for 2 ENTIRE HOURS, to be told the same thing and when I ask to be directed to this "internal review team" I am told that they can't be reached but my ticket will be given the "highest priority". How is a high priority supposed to mean anything when you can't even reach these people?

How is this acceptable that I have an account about to receive my entire paycheck and I can't access it to pay any of my bills? I won't be able to see my money and confirm it has been deposited, I won't be able to access it for groceries, bills, rent, or gas, and I can't even log in to withdraw from my accounts so I can cancel them and take my business elsewhere. Completely unacceptable service from a financial institution. Steer very clear from Acorns.

11 people found this review helpful
Rated with 5 stars
Verified Reviewer
Original review: Oct. 22, 2021

Acorns is great. The round up feature helps to remember to invest. It's also fun to watch my balance grow. I have referred this company to my friends and family as well. They seem to love it. I will continue to use this service.

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Rated with 4 stars
Verified Reviewer
Original review: Oct. 7, 2021

It's easy to use and doesn't require much work or effort. You just have to sign up with an account and it will round up to the nearest dollar and invest the change. It hasn't been a noticeable amount but it's nice to see it add up over time.

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Rated with 1 star
Verified Reviewer
Original review: Sept. 21, 2021

Don't fall for it like I did. I'm going to go elsewhere and encourage others too as well. After saving 13k with their program, I fell for one of their incentive program pitches and had two friends sign up, make deposits, etc. within a week. They met all the requirements AND a rep assured me they were counted and I'd get the $200 bonus. A few weeks later I inquired as to when the bonus would be available and was told I was no longer getting it and they wouldn't tell me why. A very convenient set-up for them...I just hate dishonest manipulative marketing. Don't fall for it.

8 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Aug. 23, 2021

I set up an Acorns account about two years ago. I wasn't using it as a serious investment tool, thankfully. Just putting in a little a month, and doing the "round up" thing with one of my debit cards. I kind of forgot about it, then decided I didn't need it and wanted to close my account. I have never had so much trouble trying to get access to my own money! Customer support is a joke. After finally getting someone on chat, who was no help, I was told that my issue would be escalated and I would get an email in one or two days.

That never happened, went back through the chat thing, still no help. Cannot be provided with a phone number to an actual human who can accomplish anything... Once again told that I would be emailed (and if I have an escalation ticket, don't you think they could provide a ticket number??). I may or may not receive a phone call from a supervisor, because apparently they are so busy they might not get around to it. This company is a joke, but not a funny joke... because they won't give you your money back without a fight.

8 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: July 13, 2021

I opened an Acorns account around January 2020. It was a great experience saving change that was rounded up. So, I also decided to open a spend account with them as well in which you purchase a debit card to use and have your funds transferred from your other bank. I have never had a problem and had enjoyed using it. Last week, Wednesday, I transferred $1030 to my spend account knowing I needed to pay some bills and have money for the weekend. It usually takes 1-2 days for the transfer to complete.

On Friday I was doing a little online shopping and went to pay for my purchase and my payment did not go through. I then went to check my balance on the acorns app and had a message that I needed to provided additional verification. So, I called Acorns and the customer service rep advised me that we would have to complete a 3 way call to my bank to confirm I had the funds transferred. The transfer was successfully verified. I was told that my account would be released and that my funds would be available in my spend account on Monday and she would be having them expedite this. Had to go through the weekend without my money.

Okay, so Monday I checked my account and was still unable to login and received the same message. I called customer service for a second time. This time I was told that I had to provide a screenshot showing that the funds had been taken out of my regular bank account. I asked the customer service rep why I wasn’t told this on Friday. He had no answer for but kept apologizing to me and telling me he understands. I told him that this is not right and I wanted to know why I was being treated this way and that I was very ticked off. Again, no answer.

He told me that after I send the screenshot of the said transfer I would have to wait for 2-3 days for my funds to be available to me. Well, then I was really ticked off! I am being treated very unfairly and I know that this is not right and can’t get any answers as to why this is happening. Now my bills are late and I am not sure what to do, because no one is giving me answers! If I get on there in a couple days and my money isn’t available to me, I’m not sure what my options are.

11 people found this review helpful
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Acorns Company Information

Company Name:
Acorns
Website:
www.acorns.com