Acorns Review 2024: Micro-Investing & More

Acorns  logo


9.0 rating

Expert Take

Acorns is a low-cost investment platform that allows you to automate your account balance and personal finances. You'll have a diversified portfolio, automatic rebalancing when necessary, and financial advisors to guide you along the way.


  • Great for new investors
  • Low Fees
  • No minimum balance requirements
  • Expert financial advice


  • Micro-Investing only
  • No savings account
  • Monthly fees

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Backed by leading investors and innovators, Acorns is an app that makes micro-investing in the stock market virtually foolproof. The app is built for beginners and allows you to learn about markets while your money steadily grows. Continue reading this Acorns review to learn about how this app can help you kickstart your investing journey.

How Does Acorns Work?

With more than 4.5 million users, Acorns is arguably the most popular robo-advisor app available, allowing beginner investors to invest their spare change in a hands-off manner.

According to Acorns’ website, more than 10 million people have used the company’s investing service app since it launched in 2014.

Here’s how Acorns works:

When you sign up, you’ll link your debit or credit card with your Acorns account. Then, every time you make a purchase, Acorns rounds up the spare change of the transaction to the nearest dollar. It then takes that change and drops it into a diversified Exchange-Traded Fund (ETF) portfolio built by its industry experts.

The app also automatically reinvests any dividends that you earn.

Acorns has grown over time to offer even more products to help you earn and grow your money. Below is a brief review of the Acorns app’s products and features.

Acorns Product Review

The app offers the following financial products, all built around its signature low-fee, easy-to-use platform.

Acorns Invest

With the Acorns automated investment account, you can start your portfolio for as little as $3 per month. From there, Acorns takes the reins.

Fortunately, you’ll still retain some control over your investment strategy. You can choose a conservative portfolio option, with low-risk slow burn investments, or choose to be more aggressive. It all comes down to your financial goals and risk tolerance, and you can adjust your approach at any time.

It’s important to note here that, while the Round-Ups™ feature is handy, investing your spare change is not a get-rich-quick avenue. So while your money will almost certainly grow in your Acorns account, don’t expect to turn around massive gains quickly, no matter how aggressive you are.

Acorns Earn

Acorns Earn is formerly known as Found Money. With this feature, the app dips its toes into the world of cash-back affiliate marketing.

Acorns offers a browser extension, which you can download from the website. Once it’s active, it tracks your online purchases from its more than 15,000 partner retailers. These include Walmart, Apple, Nike, and more.

When you make purchases, you’ll earn cash back bonus investments. These bonuses automatically transfer to your account but can take at least 60 days to show up.

Acorns Later

Acorns Later is the platform’s retirement account, and it comes included when you sign up for a standard investment account. You can choose from a Roth IRA, Traditional IRA, or SEP IRA, and Acorns will help you select the best option.

You can start investing in your retirement with as little as a $5 minimum investment. From there, it’s easy to make regular, automated contributions to the account (Acorns recommends a $5 per day recurring investment).

Acorns Early

Acorns Early is a custodial account for children. If you upgrade to Acorns Family ($5 per month), you can open multiple Early accounts for each of your kids.

Acorns Early works similarly to Acorns Later. Just set up recurring deposits of at least $5 per day, week, or month, and watch that money grow.

Early accounts are designated as UTMA/UGMA accounts, meaning that the contents of the account can be used for anything that benefits the child. It also means that the money is easily transferable when your kid comes of age.

Acorns Checking

Acorns Checking, formerly known as Acorns Spend, is an online checking account. It’s included when you sign up for either a Personal or Family plan and has no additional fees.

The main benefit of the checking account is a simplified transaction. Your round-ups and recurring deposits will get into your investment accounts faster, and you won’t have to worry about linking anything.

The bank account also comes with a debit card, early direct deposit, and access to more than 55,000 fee-free ATMs.

Acorns Sustainable

Acorns Sustainable is the platform’s newest product. It’s essentially an alternative version of the standard investment account that focuses on investments in more sustainable companies and industries.

With a Sustainable account, your money goes into iShares ETFs that meet the standard of Global Environmental, Social, and Governance (ESG) standards. While you can feel good about supporting sustainable solutions, you can also expect your account to perform on par with a standard account.

Your asset allocation might consist of small company stocks, corporate bonds, government bonds, and more. The common thread is that each one will be sustainable.


  • Mobile App: Acorns is an entirely digital platform, so you can access your accounts from the website or the app. The app boasts a 4.7-star rating (out of 5) in the App Store based on more than 860,000 customer reviews, and a 4.6-star rating from 266,000 reviews in the Google Play Store. Needless to say, the mobile app is well-liked by its users.
  • Debit Card: With Acorns Checking, you’ll receive a matte green, heavy metal debit card that comes with your signature engraved in it. You can use it anywhere Visa is accepted, and you can withdraw cash for free at any Allpoint ATM.
  • Education: As an entry-level brokerage account, the company also takes financial education seriously. As a member, you’ll have access to a wealth of financial knowledge, plus expert tips to help you along the way.

Pricing and Fees

As I’ve mentioned, there are two different all-inclusive membership tiers. Each one comes with a management fee, which is the only charge that you can expect to see. There are no fees for account minimums or overdrafts.

Let’s take a look at what comes with each option.

Acorns Personal

  • $3 monthly fee
  • Acorns Investment Account (or Sustainable Account)
  • Acorns Later Account
  • Acorns Checking Account
  • Bonus Investments
  • Educational Tools

Acorns Family

  • $5 monthly fee
  • Acorns Investment Account (or Sustainable Account)
  • Acorns Later Account
  • Acorns Checking Account
  • ​Acorns Early
  • Bonus Investments
  • ​Exclusive Educational Content

How to Sign-Up

Getting started is simple. Download the app, and you can set up your account in minutes.

Once you select your membership tier, you’ll gain access to your accounts. There’s no credit check required, and accounts are open to US citizens with a Social Security number at least 18 years old.


Here are some of the best Acorns promotions going on right now:

1. Acorns Invest - $20 bonus

Expires: Limited Time

Acorns is offering users a $20 welcome bonus when you open a new Invest account. You just need to open the account from the link below and fund it with $5 to earn the reward.

What's more? They've been running amazing referral bonuses. So, sign up for a new account and then share your referral link with friends and family, and you could be pocketing up to $1,000+ each week!

How to earn the bonus

The Acorns Invest sign up offer requires you to complete the following in order to earn the $20 bonus. Full requirements to receive this bonus are:

  1. Open a new Acorns Invest account using the link below.
  2. Fund account with at least $5.

read the full terms


With Acorns, your online and financial security is a top priority. The app partners with Lincoln Savings Bank to provide FDIC insurance on its deposit account, but it has a bunch of other measures in place, too. Take a look at what you can expect:

  • SSL Encryption: The website and app are secured with 256-bit encryption
  • SIPC Protected Accounts: Every account comes with up to $500,000 of protection
  • Account Alerts: Acorns will contact you about unusual account activity for protection against fraud
  • Bank-level Security: Secure servers, security, and privacy verified by the top digital security and privacy companies
  • Account Safeguards: Multi-factor authentication, automatic logouts, and ID verification help prevent unauthorized access

Online Support & Customer Reviews

Acorns’ online help center hosts a ton of helpful information to help you troubleshoot the app. The site also offers a virtual assistant, though it’s effectively a search bar for the FAQ section.

If you do need to speak with someone, you can reach out via email ( or over the phone (855-739-2859). Customer service hours are 5 a.m. to 7 p.m. Pacific time, every day of the week.

Unfortunately, not everyone is thrilled with their approach to customer service. On Trustpilot, the app has a lackluster rating of just 2.3 stars (out of 5). Keep in mind that the Trustpilot rating of Acorns is based on just 322 customer reviews.

However, Acorns fares worse with the Better Business Bureau (BBB), which has rated the company an F for the number of unresolved customer complaints filed through the BBB in the last several years.

Pros and Cons



  • Great for new investors
  • Low fees
  • No minimum balance requirement
  • Expert financial advice


  • Micro-investing only
  • No savings account
  • Monthly fees
  • Poor customer service ratings


Acorns is far from the sole contender in the realm of investment apps. Here’s a look at a few of our top alternatives to check out:

  • M1 Finance: M1 Finance is a one-stop shop for investing, borrowing, and spending. Each of these functions works together all from within the app in a seamless fashion. We cover the ins and out of this industry stalwart and pioneer in our M1 Finance review.
  • Betterment: Betterment is another app that aims to make investing easy. It’s just as accessible, but takes a slightly more hands-on approach, using fractional share investing and tax loss harvesting. It also offers a connected checking account.
  • Wealthfront: Wealthfront offers automated, diversified investment portfolios. With the platform, you can open an investment account and a checking account, and you can also open a line of credit.
  • Vanguard: Vanguard is a more traditional investment platform. It’s an all-in-one wealth management company and is well-known for keeping its fees generally lower than most of its big-name competitors.


Does Acorns actually make you money?

Yes, but not a ton right away. You’ll see your balance grow, but you won’t get rich. Think of Acorns as a starting point to investing, not a one-stop solution on its own.

Can Acorns be trusted?

Yes. Acorns is a reputable financial technology company, and it’s one of the most popular apps in the space. It has a partnership with an FDIC-insured bank and is a perfectly legitimate place to put your money.

What is the catch with Acorns?

There’s no catch, as long as you know what to expect. Micro-investing is a great way to get started. But, as I’ve mentioned, it isn’t a great way to get wealthy. The monthly fee is small, but so are your monthly returns. As long as you’re earning more than you’re paying, there’s no catch here.

Is Acorns worth it?

It depends. If you’re a new investor, the knowledge you’ll get is very likely to be worth it. From a monetary standpoint, you’re unlikely to lose money, so you can consider it worth it there, too. Before you sign up, think about what you want to get out of it.

Is Acorns Right For You?

Based on our review of Acorns, the app is a low-cost investment platform that allows you to easily automate several aspects of your personal finances. Still, the app isn’t for everyone.

There are a ton of different investment options out there, and if you’re more experienced, you might be better off with a more advanced platform. No matter where you choose to open an investment portfolio, my advice is to find one that fits your experience level. As you get more comfortable, you can work your way up. From there, the sky’s the limit.

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