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How do I cancel my acorns membership?

Answer

  1. To close your Invest account and cancel your Acorns subscription.
  2. Go to the settings in your Acorns app.
  3. Tap My Subscription.
  4. Click ‘Cancel subscription‘ and we’ll guide you through the process.

We want you to be happy. So if you decide that acorns isn’t for you, contact Support and we’ll help you out.

When I cancel my membership, do I lose access to all the other investment opportunities?

You will retain your acorns Core balance because it is not tied to a specific investment portfolio. This amount will always be available for spending or reinvesting – even after canceling your account. If you cancel an Acorns Later subscription, any remaining funds in your Acorns Core balance will be used to purchase additional shares of ETFs in that account’s respective portfolio at the end of 3 months, 6 months, or 12 months; they will then remain in those accounts until further notice from you.

If I cancel my acorns membership do I keep the shares that I purchased in my Acorns Core portfolio?

No. If you have a full Acorns Core balance, and you decide to close your account, any remaining money will be used to purchase additional shares of ETFs in your investment accounts at the end of three months, six months, or 12 months; they will then remain in those accounts until further notice from you.

I have an Acorn IRA and want to quit investing with Acorns but keep the account open for 5 years before converting it into a Roth IRA. Will this work?

Yes. Simply close your account prior to the five year mark (if that is what you have chosen). At that point, you can transfer the funds into a brokerage account and close it as well. You will be able to find another low cost provider or broker who won’t charge annual fees.

I have an Acorns Core + Acorns Later subscription and I want to cancel my Acorns Later subscription only, do I need to cancel both?

Yes. To close your acorns later account, you must also close your current acorns core subscription. You may not retain one while canceling the other. But don’t worry – if you decide in the future that you would like to begin investing through acorns again Fundrise may still be an option for you! Please email: [email protected]

How do i cancel my account?

We want you to be happy. So if you decide that Acorns isn’t for you, just email Support and we’ll help you out.

If my account is cancelled will I still get an annual statement?

At this time, we are not sending out any statements regarding the balance in your acorns accounts or the value of your portfolio. If there’s anything else we can help with please don’t hesitate to contact support at https://support.acornsinc.com/hc/en-us/.

Can I close my Acorns Core account before 5 years and transfer it over to another broker?

Yes – but only if it is funded with $1000 or more. Simply close your account prior to the five year mark (you won’t be penalized). At that point, you can transfer the funds into a brokerage account and close it as well. You will be able to find another low cost provider or broker who won’t charge annual fees.

I just canceled my Acorns membership, when should I see my balance again How about the portfolio?

We’ll send out an email letting you know when we’ve completed processing your request. This usually takes about 48 hours after we receive your cancellation. Your statements are available on both our app and website at any time during this process – even while we’re still processing your withdrawal. We have overnight processing scheduled for every single day of the week, so even if you made your request on a Saturday, we still have 48 hours to process it before it falls on a Sunday and has another 24 hour delay.

Will I get any kind of notice when my account is being cancelled?

You will receive an email from [email protected] asking you to confirm that you would like to cancel your Acorns Core subscription and withdraw your funds. If the reason for cancelling was not related to investment performance please reply yes in the body of the email that you sent us, along with an explanation as to why you decided on this course of action. This way we can work towards improving our service rather than just closing accounts without actually knowing what we did wrong.

I closed my account and I want to reopen it but I can’t sign in now. What’s happening?

If you recently closed your Acorns Core or Acorns Later account, you will need to wait until the next business day before being able to login again. We have a 48 hour process schedule which means that if the request for cancellation is made after 5pm on Friday, your account will be cancelled at 12PM (noon) on Tuesday unless we have any investor alerts currently triggered, such as an investment performance alert. If there are any outstanding alerts processing on the account when you make your request for cancellation these will take precedence while our system is still running these processes and logging new data into our database.

If a withdrawal has been requested, will I be able to find out the status of my request via email?

Yes! We’ll send you an email when your withdrawal is completed in order to let you know that your account balance and portfolio have been updated to reflect those final changes made as a result of the withdrawal request you submitted. Keep in mind that it may take up to 24 hours before this message is received by you; at which point, we are already well on our way through processing your request.

Why does it cost money to close my acorns core account?

Closing the Acorns Core account requires incurring expenses for regulatory purposes such as having our custodian bank execute all fund transfers requested by our customers and communicating to all outside parties (like PayPal) that you’re withdrawing your funds from the account. We also have overnight processing scheduled for every single day of the week which means that it’s best to get these requests in during normal business hours. This keeps our costs down, but also means occasionally we need extra time over weekends or holidays when only a few members are requesting withdrawals.

I can’t sign into my acorns smartphone app after cancelling my account! I still want to get notifications about my portfolio balance so what should I do?

The Acorns Core app will stop sending push notifications after you cancel your subscription because it no longer has access to your personal information; such as credit card number, email address and social security number. You will still be able to monitor your account balance and portfolio performance through the app as well as on our website, but you won’t get push notifications about each change that happens in your account or any income you earned from your investments unless you subscribe again.

If I cancel my Acorns Core subscription how long do I have before incurring a fee for having a free open acorns core account?

If you cancel within 14 days, we’ll close your account for no charge. If it’s been 15 days, we’ll assess a $50/month maintenance and storage fee beginning on the next month after cancellation is requested. If you would like to add money to your portfolio while the fees are waived, please contact us to discuss this.

There are additional fees for maintenance and storage if I cancel my account after 15 days. What does that include?

This covers any costs incurred by us over the next year, in which we keep your data and maintain a facility used to power our services. We also cover storage during this time period as we continue to monitor performance of your portfolio income and investment holdings against market benchmarks.

Can I make more than one withdrawal request at once?

Currently, you can only have one outstanding withdrawal pending at a given time; if you submit another request for a new withdrawal before the first is completed then the second will be cancelled along with any pending details or balance inquiry requests associated with it. You will need to wait for the status of your first withdrawal to change from “Pending” to “In Process” before you can make a second request.

If I have money in my wallet how long does it take before funds are withdrawn?

Funds will be withdrawn as soon as they are available during regular business hours, 7 days a week. If your request is placed outside of the normal business hours it may not be processed until after our next overnight processing cycle. We’ll send an email confirming when and how your transaction was completed within 24-48 hours. This maintenance schedule ensures that every day we process withdrawals by either 1AM or 6AM Pacific Time (9PM or 12AM Greenwich Mean Time).

How long does it take Acorns Core to process a withdrawal?

The time it takes Acorns Core to process a withdrawal request depends on the amount of money you wish to withdraw and how much is currently available in your wallet. Most withdrawals are processed within 24-48 hours but may take up to 5 days, depending on the method of payment used to top up your account in the first place. If you have an existing pending or open withdrawal request please remember that we cannot complete any new requests before completing all existing ones per our Terms of Service. We will send an email confirming when and how your transaction was completed within 24-48 hours. This maintenance schedule ensures that every day we process these withdrawals by either 1AM or 6AM Pacific Time (9PM or 12AM Greenwich Mean Time).

How do I cancel my acorns membership?

1. To close your Invest account and cancel your Acorns subscription.
2. Go to the settings in your Acorns app.
3. Tap My Subscription.
4. Click ‘Cancel subscription‘ and we’ll guide you through the process.

What happens if you close your acorns account?

If you want to close your account, be aware that we will liquidate all of your holdings and refund the money to your linked checking. We may send a 1099 form if there are any transactions on your account, though most people complete their taxes without it.

Is there a penalty for pulling out of acorns?

There are no penalties for withdrawing your funds from the “invest” part of the app. But it’s important to know that if you make a withdrawal, you’ll have to pay capital gains tax on any earnings since you joined.

Does acorns actually make you money?

Acorns is not a side hustle or money-making app that pays you, but it’s a tool to grow the money you already have with consistent saving and investing. Usually, you’ll earn money from your investments and by making qualifying purchases if you link your card to the Acorns account.

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