When you make a purchase from a checking account, credit or debit card linked to your Acorns account, Acorns rounds up to the nearest dollar and sets aside your change. The fintech company is also considered a robo-advisor because it automatically invests your money into one of several pre-designed plans. The company has raised more than $500 million from the likes of NBCUniversal, BlackRock, PayPal, Jennifer Lopez and Alex Rodriguez.

You can even increase your balance by shopping with the company’s retail partners (more on that later).Īcorns had 4.6 million users and $6.2 billion in assets under management as of 2022 with an average account balance of $1,338. You can make traditional money transfers and deposits. The “Round-Ups,” Acorn’s name for its loose change method, are not the only way to fund an Acorns account.

You can also save for retirement, open a checking account or invest for your children through Acorns. It charges a monthly fee between $3 and $9. The same can be true of investing if you subscribe to Acorns’ way of doing things.Īcorns rounds your purchases up to the nearest dollar and automatically invests the change in exchange-traded funds (ETFs). To paraphrase an old saying, a mighty oak tree starts with a tiny acorn. Its name explains what it does in a metaphorical way. I’ll also address whether the platform’s fees are worth it so you’ll understand who should - and shouldn’t - pay for this service.Īutomatically invests change on purchasesĪcorns launched in 2012 as a micro-investing app. In this Acorns review, I’ll explain how the automated investing tool converts your change on every purchase you make into an investment portfolio - with almost no effort on your part.

If you’re looking for companies to help you invest your money, one big player is the Acorns platform.

Acorn app review