Acorns Review: Save, Invest and Earn
Written by
Daria Uhlig
Edited by
Elizabeth Constantineau
Commitment to Our Readers
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20 Years
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by Experts
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Acorns makes it easy to save, invest and earn with no minimum deposit or hidden fees.
Acorns helps you grow your money step by step, starting with checking and investing, then adding high-yield savings — all with no balance requirements. Acorns was ranked the top Neobank in GOBankingRates’ Best Banks of 2025 roundup and also earned a spot among the top High-Yield Savings Accounts.
Acorns is a subscription-based all-digital neobank that offers competitive APYs. Customers can learn how to invest for retirement, college education and other savings goals. The Mighty Oak debit card automatically saves and invests money for you. Acorns’ financial learning platform contains tips, articles and videos to help customers build their financial literacy and investing confidence.
Acorns Checking and Savings Account
Acorns bundles its checking and savings into one account with its Mighty Oak Visa™ debit card. Silver- and Gold-level customers can earn APY on checking and APY on an Acorns Emergency Fund.
The high Emergency Fund yield is a primary reason GOBankingRates named the account one of the Best High Yield Savings Accounts for 2025.
- Basic Acorns checking is available to all tiers of subscribers, including the $3-per-month Acorns Bronze Banking level.
- You need to subscribe to Acorns Silver or Acorns Gold Mighty Oak Banking and use your debit card to earn interest and designate Emergency Fund savings.
- Acorns waives the subscription fees for Might Oak Card users who receive up to $250 per month in direct deposits into their checking accounts.
- The checking account has no overdraft fees and gives you free access to over 55,000 ATMs.
- With Real-Time Round-Ups®, you can automatically invest your spare change.
- All subscribers get access to Acorns’ library financial education resources.
- Silver and Gold subscribers can participate in question-and-answer sessions with investing experts.
- Acorns Later retirement accounts also come with all subscription levels.
- Gold-level subscribers qualify for the Acorns Early money app and debit card for kids and teens.
Best For
High-Yield Savings Accounts
Neobanks
Account Perks
Investment Options
Low Monthly Fees
No Minimum Balance Required to Start Saving
Acorns combines checking and savings into one account with the Mighty Oak Visa™ debit card. Silver and Gold-level subscribers can earn competitive APYs on both checking and Emergency Fund savings, plus access to financial education and investment resources.
Fees
$3 to $12 a month
APY
Up to
Min Opening
$0
Pros
- High APYs with Mighty Oak Banking
- Ability to earn bonus investments by shopping in-app with partner brands
- Easy-to-waive subscription fees for Silver and Gold subscribers
- Eligibility for 1% or 3% match on new Acorns Later funds with Silver and Gold subscriptions, respectively
- Eligibility for 25% or 50% match on bonus investments with Silver and Gold subscriptions, respectively
Cons
- No savings component or interest offered for Bronze-level subscribers
Why We Like Acorns
Acorns makes it simple to manage your money and investments in one place. Silver and Gold members can enjoy high-yield savings, automatic investing and bonus rewards for everyday spending.
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Acorns Fees and Subscriptions
Investors pay no transaction fees or hidden costs, but Acorns bundles its financial tools, products and education services into one of three monthly subscription plans. The plans are tailored to each subscriber’s needs.
- All three Acorns subscription plans include these basic features:
- A checking account that automatically saves and invests for you
- Real-Time Round-Ups® that invests your spare change
- No overdraft fees
- More than 55,000 nationwide and worldwide ATMs
- Metal Might Oak Visa™ debit card — metal composition varies by subscription plan
- The banking, earning, investing and learning features increase with each subscription plan. Here are the plans’ monthly pricing choices:
- Acorns Personal: $3
- Acorns Personal Plus: $6
- Acorns Premium: $12 with the first month free
Acorns Investing Options
Acorns puts your investments on autopilot and recommends an investment portfolio to match your financial goals.
You can estimate your investment potential by using Acorns’ compound interest investment calculator on the website.
With Acorns Round-Ups®, you can link all of your debit and credit cards, and Acorns will save the change from every purchase, round up to the next dollar and invest the money once it reaches at least $5.
Your Might Oak Visa debit card is linked to your Round-Ups® investment account. However, there’s no limit to the number of debit or credit cards you can link.
Pros:
- Automated investing with Round-Ups®
- Robo portfolio selection
Cons:
- Can’t invest in individual equities
Acorns Overall Banking Experience
Millions of customers bank, save, invest and learn with Acorns – a testament to the positive experience Acorns provides, and a reason GOBankingRates named Acorns the Best Neobank in its Best Banks of 2025 rankings.
- Mobile app: The app is highly rated with 4.7 out of five stars on Google Play and the App Store. Across consumer sites, the app has received some reviews with complaints of technical issues or customer service responses. But overall, the experience seems to be positive.
- Customer service: Acorns customer service chat is available 24/7 through the app and on Acorns.com. For more urgent requests, the phone line is available from 5 a.m. to 7 p.m. PT, seven days a week. An email support ticketing system is also available, but you could wait 24 business hours for a response.
- Interest rates: Acorns’ rates are extremely competitive. However, you’ll need a Silver or Gold membership to qualify.
Comparable Neobank Options
With so many neobanks competing for your business, selecting the best one can be challenging. Here’s a look at how Acorns compares to three other neobanks that ranked among the Best Neobanks in GOBankingRates Best Banks of 2025 roundup.
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
$3 to $12 a month
None
No monthly service fee
APY
APY
APY
Up to
N/A
Min Opening
Min Opening
Min Opening
$0
$0
$10
Acorns vs. Betterment
The savings component of Betterment’s high yield cash account earns , which is slightly less than you’ll get with an Acorns Emergency Fund. But Betterment’s Cash Reserve and Checking accounts are free unless you want to invest. Investors pay $4 per month, or 0.25% annually.
Acorns vs. Chime®
Whereas Acorns combines banking with investing, Chime* combines banking with a credit building account1 that helps you build a history of on-time payments. Chime’s savings account earns just APY compared to Acorn’s APY2, but Chime accounts are free3.
Acorns vs. Varo
Varo helps you build credit, like Chime, and it also gives cash back on purchases from partner retailers, similar to Acorns’ investment bonuses. But Varo has a cash advance option that can get you up to $500, interest free.
Final Take
Acorns helps its customers grow their wealth stage by stage. Although it prioritizes investing over emergency savings, you can add savings for an extra $3 per month and receive high yields on both balances. That makes Acorns a good choice for anyone who’s actively saving and looking for a sustainable way to grow their money over time.
Acorns FAQ
Here are the answers to some commonly asked questions about Acorns.- Is Acorns safe to use?
- Yes. Acorns banking services are provided by Lincoln Savings Bank or nbkc bank, both of which are FDIC insured.
- Does Acorns have a savings account?
- Acorns has a combined account. With a Silver membership or higher and the Mighty Oak Visa debit card, you can designate Emergency Funds in your checking account.
- What types of investment accounts does Acorns offer?
- Acorns offers robo portfolios made up of exchange-traded funds containing stocks and/or bonds. The portfolios are built by experts to meet a variety of investment goals.
- How does Acorns' round-up feature work?
- Whenever you use a linked debit or credit card to make a purchase from your Acorns account, Acorns will round up the purchase amount and reserve the extra money. Acorns invests the reserved funds whenever the amount reaches $5.
- What are the fees associated with Acorns accounts?
- Acorns fees consist of subscription fees. They vary by level:
- Bronze: $3 per month
- Silver: $6 per month
- Gold: $12 per month, beginning the second month
- Acorns waives these fees when Silver and Gold customers receive $250 per month in their checking accounts via direct deposit.
- Acorns fees consist of subscription fees. They vary by level:
- Can I withdraw money from my Acorns account at any time?
- Yes. Withdrawals from your Invest account to a bank account can take up to six days to complete because Acorns has to liquidate shares to cover the withdrawal. Checking withdrawals are on-demand when you use your Mighty Oak card at an ATM.
Cynthia Measom, Cynthia Bowman, Kathy Evans and Laurel Funk contributed to the reporting for this article.
Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Dec. 11, 2024.
Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.
To determine rankings GOBankingRates looked at the following factors from all banks: (1) minimum deposit to open an account; (2) monthly savings fee ratio (percent the minimum to avoid fee compared to the monthly fee itself); (3) minimum needed to earn APY; (4) savings APY; and (5) the average mobile app rating between the Google Play (Android) and Apple stores. All factors were then scored and combined, with the lowest score being the best. Factors (2) and (3) weighed 1.5 times, factor (4) weighed 4 times; and factor (5) weighed 0.5 times. To be considered for the HYSA, the product offered had to have an APY above 0.45%. All products and offerings had to be available as of Nov. 1, 2024, to be considered. Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Dec. 11, 2024.
Neobanks are fintech firms that offer apps, software and other technologies to streamline mobile and online banking. These fintechs generally specialize in particular financial products, such as checking and savings accounts. To determine rankings for the Best Neobanks of 2025, GOBankingRates analyzed the following factors: (1) monthly checking fee ratio (percent the minimum to avoid fee compared to the monthly fee itself); (2) minimum needed to earn APY; (3) savings APY; (4) products/services offered (credit cards and investment services); (5) the average mobile app rating between the Google Play (Android) and Apple stores; and (6) number of extra benefits and perks unique to neobanks. All factors were then scored and combined, with the lowest score being the best. Factors (1) and (2) were weighed 0.5 times, and factors (3) and (6) were weighed 2 times. All products and offerings had to be available as of Nov. 1, 2024, to be considered. Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Dec. 11, 2024.
*Chime is a financial technology company, not a bank. Banking services provided by, and debit card issued by, The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC.
1To apply for Credit Builder, you must have received a single qualifying direct deposit of $200 or more to your Checking Account. The qualifying direct deposit must be from your employer, payroll provider, gig economy payer, or benefits payer by Automated Clearing House (ACH) deposit OR Original Credit Transaction (OCT). Bank ACH transfers, Pay Anyone transfers, verification or trial deposits from financial institutions, peer to peer transfers from services such as PayPal, Cash App, or Venmo, mobile check deposits, cash loads or deposits, one-time direct deposits, such as tax refunds and other similar transactions, and any deposit to which Chime deems to not be a qualifying direct deposit are not qualifying direct deposits.
2The Annual Percentage Yield (“APY”) for the Chime Savings Account is variable and may change at any time. The disclosed APY is effective as of September 20, 2023. No minimum balance required. Must have $0.01 in savings to earn interest.
3There’s no fee for the Chime Savings Account. Cash withdrawal and Third-party fees may apply to Chime Checking Accounts. You must have a Chime Checking Account to open a Chime Savings Account.
