to deactivate your Invest account and revoke your Acorns subscription.
Tap My Subscription under Settings in your Acorns app.
You should be aware that when your account is closed, any outstanding investments that haven’t started processing will be canceled.
Yes. Thank you for considering how your acorns account affects the environment. Anytime, for whatever reason, you are free to close an acorns account. To close your acorns account, just send an email to email@example.com or give us a call at 888-232-7586. We’ll take care of it right away. There is no minimum balance requirement or holding term before an acorns account may be closed. The costs listed on our Fees page will continue to apply to any funds left outside of your Acorns portfolio while you maintain a connected bank account and/or credit card, with the exception of any fees that are expressly exempted by law (such as purchase transaction fees on our Starter Checklist).
If you close your acorns account, we’ll give you a last statement and cancel any outstanding regular payments. Any unpaid credit card balances will be deducted from your bank account or, if applicable, charged to the credit card linked to your acorns account. After canceling an acorns account, we may retain data for up to one (1) month; however, after that time has elapsed, all data collected via your use of the acorns platform will be deleted, with the exception of aggregated transaction data used in accordance with relevant law. When your Acorns account closes, we may transfer any funds still in your connected financial institution account if you have one if you have linked it to your Acorns account and they are not already in the Acorns portfolio.
Remember that you won’t be able to earn or redeem acorns if you close your acorns account. If you later decide to change your mind and wish to reactivate an acorns account.
Please be aware that when you terminate automatic payroll contributions to a company 401(k) plan linked to an Acorns Core Account, those contributions will stop until (a) you decide to resume them, or (b) up to one year after the termination date, in which case they will resume with net pay deductions being made available on the first of each month, unless you specify otherwise.
Can I withdraw my funds before the deadline?
Whatever happens, you have 30 days to use our trading platform to its fullest capacity. After that, you can withdraw your money with the possible exception of any costs brought on by account inactivity. Although we provide a wide range of investment options, their availability to trade may change at any time without prior notice and is dependent on market conditions. Regulatory requirements apply to the fees for some investments (e.g., sale transaction fees as described on our Starter Checklist).
You can use the Withdraw Funds function found under “Account Tools” to withdraw money ahead of schedule by logging into your acorns account. This will enable you to request a check to be mailed out of your connected checking account or to move money from your portfolio into an outside bank account.
You can redeem your acorns for cash at any moment by clicking the “Redeem Acorns” button in the app or visiting acorns.com/redeem in addition to being able to transfer money out of your account. We must charge a $25 redemption fee because we want to ensure that you got value from your acorns while they were invested on our platform and we need your money back so that it can be used to cover transaction fees in the future.
Please email firstname.lastname@example.org if you have used up all of the available acorns in your account so we can assist with processing a redemption and mail a check to you. Please be aware, however, that as was previously indicated, we do not regard the $25 charge as earnings for tax purposes. Regarding the tax repercussions of redeeming acorns, please speak with a tax professional.
Yes! It is important to note that once this occurs, there will be no way to seek termination of an IRA. If you have linked a bank account to your acorns account and have money remaining outside of the Acorns portfolio when it is closed, we may move that money to your linked bank account. However, if you’ve selected the IRA option or have invested in our Traditional or Roth Portfolio product(s) and would prefer to withdraw those monies from your associated bank account when your acorns account is closed, please visit our Help Center page, “How can I take my money from an IRA?”
We’ll liquidate any outstanding securities after your acorns account is closed by selling them. Any revenues that we earn may include taxable gains or losses and will be paid to you via cheque. Your matched investments will continue to be managed by Acorns even if some of them have been moved from Acorns Core to one of our other portfolios.
How can I prematurely end my Acorns account?
Enter your Acorns login information.
In the top left corner, tap the menu.
“My Subscription” can be tapped.
Choose “Close Account” at the bottom of your subscription by scrolling down.
Pick Early in the dropdown menu.
Follow the instructions to close the Early account.
How can my acorns account be cancelled?
Click “Settings” and then tap the “My Subscription” option to delete your account. You will be asked to choose a reason for your departure from Lifelock’s services after choosing this menu item.
Can you ever take money out of an acorn?
Anytime, without incurring any fees, you can move money from your Spend account to an external primary checking. Please log in and follow the instructions below to send the money:
Toggle “Spend Smarter” on or off.
Choose the “Transfer Funds Out” link.
Enter the dollar amount you wish to transfer, or tap or click one of the suggested transfers provided under Transfer.
Is it punishable to take money out of acorns?
There is no fee if you take your money out of the app early. Taxes on earnings while in the Acorns account are the only expense.
What occurs if I delete my account with Acorns?
Your funds will be liquidated and transferred back to your linked checking account in 3-6 business days after you request that your account be closed. Please be aware that for any investing activity throughout the year, we might issue you a 1099 form.