![]() “Grow”: Interviews, news, and how-tos are available on the website or within the app.“Learn”: Acorns features an education section that includes investing basics, FAQs, and a glossary.Scheduled deposits: Set recurring daily, weekly or monthly investments.Acorns Later is included in the Personal and Family account. Acorns later: Acorns users can invest in a specially designed individual retirement account (IRA).Smart deposit: With Acorns Spend, you can automatically allocate a portion of your paycheck into your Invest, Later, or both accounts. ![]() Spend accounts are included with the Family account. Spend accounts are FDIC insured up to $250,000. The debit card is offered through Visa, and you can use it at over 55,000 fee-free Allpoint ATMs across the country. You can also invest up to 10% of your everyday purchases from local retailers that are not enrolled with Acorns Earn. You can set up recurring deposits on a daily, weekly, or monthly schedule if you prefer.Īcorns has a checking account called Spend with a debit card that applies Acorns and Acorns Later investing functionality to every purchase you make.Spend lets you instantly do real-time Round-Ups, as well as automatic retirement savings and extra savings via Acorns Earn. Or you can choose to invest lump-sum amounts in addition to your Round-Up deposits. The potential to magnify the savings is enormous.Īdditionally, you can deposit cash reward bonuses from your bank or other rewards programs you currently have. So instead of pitching in just those 57 cents from my gas station purchase, I can elect to invest as much as $5.70 for that transaction automatically. However, you can also use Round-Up Multipliers to boost your extra investment by two, three, or 10 times. You can choose which transactions you want to include in your Round-Up amount or set it to “automatic,” in which case Acorns will apply the feature to all eligible purchases. Once the Round-Up balance reaches $5, the money will be withdrawn from my bank account and added to my Acorns investment. That amount was rounded up to $23, and the extra 57 cents were added to my Acorns Round-Up balance. ![]() It pulls the difference from your checking account and invests it in an Acorns account that you set up.Īcorns is a great starting point for anyone who hasn’t invested yet or needs a bit of guidance in the beginning, and you can actually make money using it for investing.įor example, I spent $22.43 at the gas station this week. You can invest for retirement, set up a checking account, and set up a custodial investment account for your children, among many other services.īy linking your credit card and checking account, Acorns reads your spending habits on your credit card and rounds each transaction up to the nearest whole number. While microsavings is still Acorns' main driver, Acorns does more than just invest your spare change. However, Acorns recently unveiled a web-based version for desktop and portable users, as well.Įssentially, this app is a great starting point for anyone who hasn’t invested yet or needs a bit of guidance in the beginning. The Acorns app is targeted at a much younger, more tech-savvy generation (Millennials) since the entire investment experience can be created and managed from a smartphone. You link a credit card and checking account, and Acorns does the rest.This microsavings app makes investing almost painless because you're spending only pennies at a time.
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