Have you been procrastinating about investing because you can’t seem to understand all the complex jargon? Well, you’re not alone because a lot of people, especially youngsters, stay away from investing since it can be intimidating. However, Acorns – an app available for Android or iPhone – intends to make the process easier for people who can be flummoxed at times. In simple words, Acorns helps you save money without making a big dent in your wallet. Read this Acorns app review to know everything you need to know about this revolutionary app.

Acorns app review : What is it all about?

So, what is this revolutionary app, you ask? Good question. In a nutshell, Acorns is a mobile app that helps you invest spare change while helping you achieve your short and long-term goals. Don’t assume that you’ll get nowhere with some spare change because little drops of water make the ocean, isn’t it? Created by a team of professionals, this app recommends portfolios and also tracks them by automatic rebalancing!

For many youngsters who don’t know where to begin, this app can work well since it helps you invest your change that is otherwise lost in your daily dealings. Most importantly, you can get rid of your anxiety that makes you stay away from investing. If you need someone to hold your hand a bit down the apparently difficult road of investing, you can go for this. No drama, no fuss – you simply let the app do the work for you.

You can start off by connecting all your bank accounts (or the ones you deem necessary) to the app. The app will keep a track of your expenditure and invest your spare change according to your daily purchases. Anybody with a smartphone can understand how the app works. However, if you aren’t tech-savvy, you can also use the Acorns web-based version to invest money.

According to several users, the best part of the app is that it deals with small amounts of money, thereby leaving you stress-free. For those who don’t have a lot of time but want to get their feet wet in investing, this app could be the first option. As small amounts are invested daily, it could accumulate over time, and a good return can be expected.

How to Get Started

It’s pretty easy to sign up through the website or your smartphone app. Once you download the app, you’ll be asked to enter a PIN code that will be used for further transactions. As of now, only US citizens can use this app. Described below is the 3-step process that will help you get started.

  • Choose an account

Once you sign up, you can choose your primary round-up account that will invest your spare change for you. With several banking options that include Citibank, U.S. Bank, Chase, and others, you can choose anything that works for you. After that, you can log into the bank and open a round-up account. You can also connect more than one bank account if you want to save more.

  • Connect the Checking Account

This part could be a little tricky for those who are wary about revealing their financial details online since you’ll have to give your personal details to connect the checking account. However, don’t worry about privacy since the app uses encryptions to protect your details. Through the list that’s presented to you, you can use a checking account that already exists and sign up. The checking account is not the same as the round-up account since this account will be used to transfer funds into the Acorns account.

  • Create Investment Account

Just like other apps that ask you questions before you sign up, Acorn will also request your information including your name and address. Next, you’ll see 3 standard questions that inquire about your financial status. Depending on your status, you can answer or leave them unchecked. After that, you’ll be asked for details regarding your employment status. It’s important to read and answer the questions carefully since it will help the app determine the portfolio that suits you the best. Once you choose the type of investment you’re interested in, you can click on the ‘Get Started’ button to begin!

Acorn app review

Important Features

  • No minimum deposit required – This means that even if you don’t have a lot of money, you can sign up and start.
  • Accounts available – As of now, only individual accounts are available, but there are no retirement accounts.
  • Fee structure – Acorns charges $1 every month for accounts that are under $5000. However, once you account crosses the $5000 mark, about 0.25% will be deducted as fees every year.
  • Access to both mobile and website – Gain access to the app either through your smartphone or through the website.
  • No fees for students and youngsters – If you’re under 24 years of age, you don’t have to pay any fees!
  • Schedule your deposits – Having trouble remembering to invest? No problem! You can schedule your deposits as daily, weekly and monthly investments.
  • Spare change – After you purchase an item, your change rounded to the nearest dollar will be invested. For instance, if you spend $9.50 on a sandwich, $0.50 will be added to the round-up balance, and once it totals to $5, the amount will be withdrawn from your bank account and added to your Acorns investment.

What the Users Say

Like all other apps, Acorns has a few advantages and disadvantages. While it may be amazing to see your small change build up, many people aren’t very keen about sharing their financial details to a third party. However, since Acorns is very secure, there’s no reason to worry about it. Another disadvantage is that the app has no retirement options, and people who are specifically looking for retirement options will be disappointed. Last but not the least, no matter how small the amount is, you could lose your amount although the recommended investment options are very conservative. Many users are also attracted to other options that play with big money. A few others also say that they don’t invest in the app since they can’t expect a lot of returns with spare change. In other words, don’t expect to become a millionaire since it only invests small change.


This app works well for beginners who have no clue about how to get started. However, if you know a bit about investing, you can go for other apps like Betterment or Wealthfront that also charges minimal fees and maintains your investments.

If you enjoyed this Acorns app review, please tell us what you think about the app through the comments below.