ACAT Fee For Transfers Into Acorns
Acorns does not charge any fees if you transfer your account to them. You can use the promotion link below to open an account and start the transfer:
Open Acorns Account
How to Close an Acorns Account
If you’re tired of paying a monthly account fee to Acorns, it might be time to move on.
To close your account, first click on the Menu icon (shaped like a person) in the top-right corner of the computer screen. Then select Profile & Settings from the drop-down menu that appears. You’ll be taken to a new page with several options. Click on My Subscription, and you’ll see various subscription settings.
Here, you can downgrade or upgrade your subscription if you wish. You can also view your subscription history. Finally, there is a Cancel subscription button on the page. Click on this, and you’ll be able to close your Acorns account.
If you have any investments that are pending but haven’t started processing, they will be automatically canceled. Existing positions will be liquidated, and the resulting cash balance will be transferred to your linked bank account. This process usually takes about a week.
The closure process is the same for both Acorns Invest accounts (regular taxable brokerage accounts) and Acorns Later accounts (IRAs).
Acorns Top Competitors
| Broker Review |
Stock/ETF
Commission |
Mutual Fund
Commission |
Options
Commission |
Maintenance
Fee |
Annual IRA
Fee |
|
Charles Schwab
|
$0
|
$49.95 ($0 to sell)
|
$0 + $0.65 per contract
|
$0
|
$0
|
|
Robinhood
|
$0
|
na
|
$0
|
$0
|
$0
|
|
Firstrade
|
$0
|
$0
|
$0
|
$0
|
$0
|
On the Mobile App
You can also close an Acorns account using the mobile app. The process is quite similar.
First, tap on the Menu icon in the upper-left portion of the app. You’ll see three horizontal lines. Next, tap on My Settings (indicated by a gear icon). Then, tap on Manage My Account. On the next screen, tap on Close Account. You may be asked to select a reason from a drop-down list. A confirmation screen will then appear, asking you to confirm your cancellation request. Once you do that, you’re all set.
A closure request submitted through the mobile app takes the same amount of time to process as one sent through the website.
Alternatives to Acorns
In today’s competitive brokerage world, there are always other options. If you want to continue using round-up services, you could move your money to Stash. Stash offers a round-up service that sends small amounts of change into a cash balance within a taxable brokerage account. Stash also has a Stock-Back® program that lets you earn free shares of stock. Like Acorns, there is a monthly fee.
If you want to avoid a monthly fee altogether, you could open a Charles Schwab account, which has no monthly or annual charge.
Get $0 commissions + satisfaction guarantee at Charles Schwab.
Open Schwab Account
Updated on 8/31/2024.
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