Neobanks come in many forms, and Acorns has stood out as one of the more unique choices since its founding in 2012. Since then, it has received $507 million in funding, received the title of one of the best neobanks in the US, and has become a well-known name among its peers. However, recent reviews have cast a different light on the platform during a time when money is tighter than ever.
What Acorns offers: Among neobanks, Acorns offers quite a bit, starting with the ability to invest spare change, which is a defining feature of the platform. However, it also offers banking, earning, and learning opportunities, which all take place on a single platform.
- The Round-Ups feature invests spare change on every purchase. For instance, a purchase totaling $4.50 would become $5, with $0.50 being invested.
- There are also bonus investments when users shop with certain brands.
- Online banking services are also available, including direct deposit, check deposit, check sending, and free transfers.
- The platform has attracted over 10 million all-time users who have invested over $15 billion.
Acorns does have a monthly cost with two subscription tiers, including a tier for personal accounts and one for family accounts. The personal account is $3 per month and comes with all the features offered, such as investment and retirement accounts, banking, and bonus investments. The family account is $5 per month, but it gives users access to everything from the personal tier and an early…
