Acorns Spare Change Review 2021

acorns spare change review full

Acorns is that app that automatically invests your spare change by rounding up the nearest one dollar with a linked credit or debit card.

Acorns spare change review is a micro-investment app-based service that works by rounding up your daily spending.

Once you download this phone application, you are all set to sign up for free. Join with our referral link and get instant $5 in your piggy bank

Full Acorns Spare Change Review


Acorns spare change investment app was founded in early 2014, and to date, they are managing more than 4 million active users that are worth $85M.

The app monitors your bank accounts and automatically invests the change after the system rounds-up. It can understand the term “Round-Ups” with the

Example: Suppose you buy something that costs you $5.30, Acorns will round up to $6 and automatically invest $0.7, and the transaction details can be viewed by logging in to your account.

The fame of Acorns spare change is because of this crucial feature and the plus point it is easy to use.

Acorns Features And Services:

Although Acorns has modernized the old-school style to save spare change, You link a card and checking account, and acorns do the rest.

In our honest acorns spare change review this micro-savings service investing for a new user who has not enough knowledge of investing, it teaches you all also the service is collecting investing in pennies at a time so this micro saving app makes investing almost painless.

You don’t have to stop at points to think about savings because it automatically does by using round-ups on every purchase you made.

The entire investment experience is a mobile-friendly app as well as a web app that attracts college students, more tech-savvy generation to manage their future savings.

Other services of Acorns include:

Acorns Later: This Acorns service is for an individual retirement account. A user who has IRA through Acorns, they are being charged $2 per month for both accounts.

Acorns Spend: Acorns spend a checking account that lets you instantly do real-time round ups. This service offers a debit card that applies acorns later and acorns investing functionality on all purchases that users made. Acorns spend account is FDIC insured up to $250,000, and it costs $3 per month.

Found Money: This one is a unique feature that helps you to add investment in a portfolio when the user shop from any assigned acorns partner. It is just like a reward for purchase from a designated partner.

Some famous brands with the collaboration of Acorns are Nike, Walmart, and Warby Parker.

How Can Get Access To The Primary Dashboard:

You are required to access online acorns via a web link here. or you can also download it from the app store on your mobile phone.

The app is available and can be download from both android (play store) or iPhone (apple store). The interface is straightforward to sign up just by clicking on it.

You are required to enter your email and choose your password that will be used to login to your account in the future. (This service is right now available only in the USA). Check the option and confirm you are a U.S. citizen.

Acorns provide more comfort to the user by selection a round-up account and balancing the portfolio.

Next, you choose the bank account for your transactions being rounds up and invest the change, among the most famous banks of the USA.

In case your bank is not listed you can proceed to the next step by clicking next and there you will find options to attach your bank manually.

You will then ask to put your personal information like First name, last name, DOB and to choose a security question/answer. Now, this is the time to fill out your address and check if you are a U.S citizen or not.

After you got to succeed in bank attachment, you will now be asked to link your bank accounts which you want to use as spare change investment to be monitor.

A pop window will appear on screen by asking three questions:

  1. Are you or have you been affiliated with a broker-dealer?
  2. Has the IRS notified you of being subject to backup withholding?
  3. Are you a 10% shareholder of a publicly-traded company?

If you are not applicable to answer those questions, just let them uncheck, those are standard questions that need to answer by the SEC under the conditions to open a brokerage account.

  1. The next screen is the final submission before you choose your portfolio, there you have to fill out the information on employment, net worth you have in the bank and in the form of asset, yearly income and the reason why you are investing.

Here are five different reasons you can choose from the purpose of investing:

  • Long-term investment
  • Short-term investment
  • Major purchase
  • Children
  • General

These are the answers to the questions which will help Acorns to generate customized advice and recommended portfolios created by the backend team of experts.

At the end of sign up, you need to provide evidence of US citizens by filling in social security numbers that can be used for tax reporting, fraud prevention, and ID verification.

Acorns List of Available Portfolios

In our Acorns spare change review, this investment application is designed like other Robo-advisor, uses Modern portfolio theory which is known as MPT to exaggerate the best experience by allocating the needs of the user.

There are five offers of portfolio you can choose from:

  • Conservative
  • Moderately Conservative
  • Moderate
  • Moderately Aggressive
  • Aggressive

Read also our review on Zack Trade and Personal Capital.

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