Category : Finance
The biggest issue that I have with the app is that it's graphs of your money's performance are a straight up lie. It will always show upward movement, even if you've lost money. At no point will the graph show downward movement. It's a scam. Also, it's constantly kicking me out, forcing me to use the password instead of biometrics.
The app works as expected and is very good to invest money. But they originally offered a nice monthly fee and raised the cost after I had a lot of money invested. For the long term they may raise the fees again and you can't do anything about it. Before you start using this app consider if it's worth the risk of having a lot of money and then having no option but paying whatever new price they want because you don't wanna deal with closing your investment account and transferring the money.
Worst app ever! thought that I had canceled my subscription months ago, went through the process in the app, sure looked like I had done everything to cancel it even though the app stops you and asks you and questions you like a dozen times are you sure you want to cancel. They don't ask you that many times when you're signing up. App is broken or has a bug, I got the final cancel button and it says oops, something went wrong. That's it! No option to contact or and help to resolve! Busch league
They've made some changes over time to make it easier to see what acorns is doing for you and I think that's great. They allow for integration for apps like Mint, so this is completely suggestable for people trying to get started working on their financial status. I closed my account at one juncture, and the graphing /yield still shows that old account prior to the current one, but other than that I like what I'm seeing vs my old review.
Seems simple. Not exactly. Features to earn additional investment money are a little misleading in that they seem simple until trying to sign up or purchase the thing and then you learn the hoops required to actually earn. I'd rather get cash from Rakuten or other shopping incentivizer than lose "free" money in stocks right now. Trying to close the account is problematic too. It won't let me close the checking account because of an error on their end that never gets resolved.
Very misleading app. It urges you to create a checking account and get a debit card, telling you all transactions will round up and cents will be invested. Well they don't invest the rounds ups on the card they provide, only from seperate accounts that you link to. If you do allow round ups on the card they provide, they still collect those round ups, so you're basically allowing them to skim off the top of your transactions. Would not recommend.
Started off great. Recently, bank account became unlinked. Went through process of fixing. About a week later received email stating account was no longer linked. Spoke with customer service and eventually learned the email went out in error. Not exactly reassuring coming from a service I'm paying for. Closed account.
This is NOT a viable option for anyone who relies on an income. If you can afford to lose $60 per year just in fees alone (not to mention the money you'll lose to their "investments"), then this is the app to use. You're better off going with something like PayPal or even Chime, where you'll actually get a return on the money you spend using their service. I typically get $20/month back from PayPal due to the money I spend via their debit card alone. Acorns makes THEIR money off of YOUR money.
Worst banking and customer support experience I've ever had in my life. I simply made a deposit of money into my account and they immediately locked it and would not unlock it. Customer support was completely useless. All of their marketing is based on totalized. This is not easier or better in any way. Stay away!
They increased the price of the basic subscription by 200% without notice. I'm ready to pull out all of my investments. Edit: They claim they all investors, which they didn't. And they provided link to their current pricing which also says nothing to the 200% increase. Just false claims of no surprise fees.
I rarely give anything a 5 just because. But this didn't get a higher rating because it takes ten thousand days for investments to transfer. Also, it does not add all investment bonuses to your account, even though you have you card or bank account linked. Other than that, I think it's fine.
The app won't let me past the Referral disclosure agreement. i contacted support for help. they said I'd get a response back in 1-2 business days. that was over a week and a half ago. i tried replying to the ticket and even opened a new ticket. Nothing. No response back at all. I was really looking forward to trying this app out. Update 4/20/22: I've opened 2 new tickets over the course of 2 weeks and neither of them have been, at least , acknowledged.
If you are already good at saving don't bother. Initially I liked the app because of what if had to offer but after more than 1 year all that it's done for me so far is loose money. When you try to change your stance from aggressive to moderate your are penalized. The round ups are only worth it, only if it's going to invest my funds to make me some kind of profit. So far I'm in the red and right now I am seriously contemplating on leaving the platform altogether.
Great concept and idea, a really good idea but no positive return. I set it up automatically for an additional IRA (kind of fire and forget type), as well as for my children but while my active investing portfolios have yielded great gains... the performance on all accounts on here are losing money. While I can change my aggressiveness, it won't allow any changes towards particular ETFs ect. For a fixed contribution and subscription fee, I feel it should allow options to a better degree
Makes it easier to set money aside for future purchases. Update: I'm getting constant notifications about my bank account being unlinked, but this is not the case. My accounts are still functioning just fine, it seems like there's a bug around these notifications.
I've enjoyed saving money with Acorns for years and will continue to do so but their banking is trash!!! I've deposited 2 checks with no problem. I tried to transfer money from my credit union to Acorns checking because I'm going out of the country and my bank does not allow foreign purchases, I found out Acorns does. Well, my debit card has been locked since Monday, today is Thursday. I have submitted the same documents several times, including a screenshot the money has been transferred.
Originally i thought i wasn't having returns because the subscription cost canceled my investments, but now after 3 years they've lost over 10% of what I've invested. It seems no matter what portfolio I choose, losses outweigh gains. I don't understand how any of these reviews say they've had returns.
So Far So Good...!!! .. I Also like that all the Ground Work For the Different Features are so We'll thought out and put together simply in Formats I can use and access confidently and with no stress about TECH savvy issues or having trouble with Navigation errors...I Feel More & More Confident every time I log in or out of my account that ACORNS Was and Is One of The Best overall from A-Z Long Term Financial Decisions I Have Made and visualizing My Enormous structured Trees🥰
As others have said, don't make the mistake of depositing money in here. They are liars and the customer service is garbage. Nothing good to say about the set up. App is a bit confusing but tolerable. All issues are with the service. The "internal team" finds it suspicious to deposit money in your spend account. How else can money get in? You clearly don't want to be a bank. Get rid of the options to e-deposit if you are just going to shut us down for using it! 0 stars 0 stars 0 stars 0 stars 0
After using the app for almost 2 years without any issues, I started to continually be requested to resync my bank info for roundups. After asking about the issue of constantly needing to resync, they blamed my bank rather than actually look into the issue. No financial institution would require re verification of your account every 2 days or sooner.
Scam scam scam! They claim to invest your money for you yet the only money in there after 10+ months was the money they take out monthly. On top of that there's a $5 service fee every month so your paying them $5 a month to have a savings account basically. Just have a regular savings account at a bank. I would give zero stars if it was an option. In the auto generated response you decided to use as feed back to my original review you didn't not adress any of the issues I named.
I changed my review on this app because everything is fine until you want to cancel your account. Over 6 months I've been trying to cancel with no balance in Acorns and they continue to charge me every month and there's a glitch when you try to cancel. Of course you get no answer when you try to contact them!
Love the simplicity of the app. That's the only reason why it's getting 3 stars instead of 1. Doing just a little bit of simple math tells u that commissions and fees are astonishingly high. Still recommend it to beginner investors.
I would have given a 5 star rating. But, I didn't get to use the credit card portion of the company. So I can not rate something i don't know anything about. However, the rest of the app was very easy to use. And the concept behind what they do is great. The customer service was impeccable. My only need for customer service was to close my account. And they made it absolutely easy. And there was no hassle as to why I wanted or needed to cancel my subscription. Thank you all.
Eh it's alright. They canceled my card and then during reactivation took several times of trying to send them a document they'd accept as address verification. As an app, it's fine. Not a lot of customization, more a "set it, then forget it" place. I went moderate to try it out, but with the dollar loosing value and inflation so high, 60% bonds was loosing me money. Trustworthy from what I could see, just not as convenient as some others out there. Really nice checking ATM card, though.