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Acorns helps you save, invest, and grow for your future.
By Mei-Lin Chua
Contributing editor, apps and storefronts
Acorns is a personal finance app for saving, investing and spending from one place. The developer presents it as a way to manage spending now, set money aside and invest for later, all at the same time.
The listing says the tools are aimed at everyone, not only people with high incomes. It is a fit for someone who wants automated help with building savings and a stock or ETF portfolio.
The build we hold is Acorns: Save & Invest Money 4.218.0 (APKS split bundle) for Android 10 and up.
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The core of the app is automated saving and investing. The listing names stocks and ETFs as the investment options, so the portfolio is built from those two kinds of holdings.
The developer cites more than 16 million Americans who have invested over $33 billion through the service. That figure comes from the developer and has not been checked here.
Alongside saving and investing, the app includes spending tools and a checking account. The listing ties these to the same account, so spending and savings can be watched in one place.
Investment accounts are SIPC-protected up to $500,000. Checking accounts are FDIC-insured up to $250,000.
The app uses 2-factor authentication to confirm logins and includes fraud protection. Data is protected with 256-bit encryption.
A card can be locked digitally from within the app through what the listing calls all-digital card lock. This is the feature to use if a card is misplaced or used without permission.