- Open your Acorns account.
- Select “Invest for your future” from the Present screen.
- Select “Invest”
- Select “Recurring Investment”
- Select “Stop Recurring” on the desktop app.
- Tap On the mobile app, toggle off your Recurring Investment.
How to Be Financially Free Add
Acorn will stop investing when an investment account reaches £100,000. This means if you set up a new Acorn investment account with £1, it will automatically start investing in shares at the next available opportunity. Assuming that the markets are open and you have enough cash to invest, Acorn will then buy whatever stocks or funds are associated with your chosen portfolio for that month.
If I stop my direct debit can I get my money back?
You may cancel your direct debit at any time, but this does depend on how long before the end of the month you do so. If you cancel it within 14 days of having registered and less than 12 hours after registering we should be able to return your deposit for you in full. After this time, your money will have been spent on buying the first stocks and shares in your portfolio so we can’t return them to you. You will still be able to cancel your subscription at this point, but you won’t get your initial deposit back.
What is the minimum investment amount?
There is no minimum monthly investment amount; you’re free to invest as little or as much as you like each month. The only restriction is that there’s a maximum of £1,000 that can be invested per day on most accounts (this can be up to £5,000 if previously verified).
How are my investments spread over overstocks and funds?
Once registered for an Acorn account you’ll need to choose which portfolio you’d like to buy shares in – here are three examples:
Acorns Core Portfolio invests with a mix of round lot (minimum £1) stocks and funds from across the FTSE 100, 250, and the MSCI World Ex-UK index (that’s all international shares for those of you who are unfamiliar with financial terms).
Investing in Acorns Balanced Portfolio is a little different in that it features a lower percentage of cash and fixed income (bonds), meaning your money will be invested more at risk if you’re looking to make bigger returns. The aim here is to invest slightly less conservatively while still keeping your money protected. You’ll get a bit more growth potential than with the Core Portfolio but remember that this means there’s also more risk involved too.
The Acorns Aggressive portfolio invests almost entirely in high-growth stocks and funds. Now this is a risky portfolio so be aware of the potential for losses should things go awry but if you’re willing to take that kind of risk your returns could be far greater.
Note: as well as these three main portfolios, you can also choose to diversify your portfolio by investing in an ‘Acorns Plus Portfolio’; however this will cost an extra £1 per month on top of your standard subscription. For more details see our Acorns Fees section below.
How do I enter the platform?
To sign up to Acorn all you need is a UK bank account, which must be completely free of any charges or fees (including those pesky overdraft fees). All deposits made to Acorn are held in ring-fenced accounts, which means they can only be used to invest.
You’ll also need to be 18 or over and have a copy of your passport/driving license handy – we’ll ask for these in order to avoid any fraudulent activities.
The actual sign-up process asks you about your investment goals, risk appetite, and attitude towards risk as well as where you want the money invested (see all three above). Once that’s done you’ll have an account! It really is that simple. Just make sure you set up a direct debit to pay monthly contributions so Acorn has the capital to invest every month. If not, Acorn will hold back half the balance of your account
What you MUST know about Acorns Investing
Note: you must set up your direct debit within 14 days of registration or your account will be closed and any money refunded to you as a cheque (rather than back into the account).
How do I sign up for Acorn?
To start investing with Acorn, simply click on this link. The next page should ask you which type of investor you are; choose between:
a) New Investors (don’t worry about this if you’re already investing): If it doesn’t automatically select this option, scroll down through the choices and ensure that ‘New Investors’ is selected. Click to continue. You’ll then need to enter some basic details such as your personal information followed by a few questions about your financial goals. Once that’s done, click ‘Create My Acorns Account’ and you’re done!
b) Existing Investors: If it does automatically select this option, then you don’t need to do anything as Acorn will simply look for a previous sign-up to verify you’re the same person. Otherwise, if it doesn’t automatically pick this, scroll down through the choices and ensure that ‘Existing Investors’ is selected. Click ‘Continue’. You’ll then need to enter some basic details such as your personal information followed by a few questions about your financial goals. Once that’s done, click ‘I’m ready – let’s get started!’
How do I make an investment?
All investments are made by setting up a regular direct debit payment from your bank account. You can do this through the app or online, so clicking here will get you started.
You have to set up a direct debit within 14 days of registration otherwise your account may be closed. You’ll also need to provide Acorn with your sort code and account number but if you’re unsure these are available on a recent bank statement or in the bottom right-hand corner of your computer screen when logging in to online banking. If you’re still stumped just give them a call on their customer service line (see below for more information).
There is no fee to open an Acorns UK investor’s account but there are costs associated with using the platform. These fees are tiered depending on the amount you invest and will be deducted directly from your Acorns portfolio every month.
Acorns Plus Portfolio (offered as an add-on to your UK class A portfolio)
You can choose to take up Acorns Plus for a one-off payment of £12; this will entitle you to additional premium features within the app including:
Advanced tax control.
Access to private market funds (pending regulatory approval) such as venture capital, property, and partnerships; Acorns will notify you when these are available to invest in. These opportunities will not be available to Class A investors.
A platform for businesses allowing an employer or pension fund sponsor to set up a work-based savings plan with Acorns if required by law.
The ability to access your accounts through mobile apps for iPhone and Android devices – ideal for quick transactions on the go!
If you choose not to pay for Plus account features you’ll still have access to premium data from third-party providers via their API platform. This will include access to Morningstar and Credit Suisse, for example, your portfolio’s performance data from third-party providers may be delayed by up to 30 minutes.
Acorns sign-up invitation code
To help you get started with Acorn we’ve been given an exclusive invitation code: DRWLF5PA. You can use it in two ways:
If you’re a new investor, simply click here, enter the invite code (DRWLF5PA) when asked and complete the online process as normal. Your first £50 investment will come with a 0% annual fee credit valid for 7 days from your sign-up date; this works out at about £1 per day on your first £50 invested – not bad!
If you’re already an Acorn investor but want to upgrade your account, click here and enter the invite code when asked. You’ll then be able to select either a £499 or £5,000 investment and will receive a 0% annual fee credit valid for 28 days from your sign-up date; this works out at about £7 per week on your first £500 invested – so again some nice cashback.
Acorns customer service & support
As with all things investing, it’s important to do your research before signing up for any platform. This is especially true if you’re looking into putting away large sums of money over longer periods of time. Thankfully, Acorns UK has very responsive customer service and support available via phone, email, or live chat.
Helpline: 0203 696 0030 (information) – lines are open 8 am to 7 pm Monday to Friday and 9 am to 5 pm on Saturdays. You can also email any questions you may have to [email protected].
We were given an exclusive invite code for Acorn so we could write this review. However, the code mentioned above is available for all investors when they sign up. If you used it as a new investor then your £50 investment would be fee-free for 7 days; if you’re already a client clicking through from the invitation code page you can get free trades for 28 days.
There are also affiliate links throughout this review, however, we only link to services that we use and trust. Should you sign up as a result of clicking on them then the site will pay us a small referral commission – at no extra cost to yourself! We only refer our own clients for services where we have confidence in their reliability. Please see the disclaimer page for full details.
Acorns Summary: Pros and Cons (in our opinion)
Pros: Fantastic first investment tool for beginners who want to get into stocks & shares but don’t know where or how to start. Acorns give users complete control over their portfolio by providing guidance on every aspect of stock market trading without being too complex or technical; ideal if you’re investing.
1. Open your Acorns account.
2. Select “Invest for your future” from the Present screen.
3. Select “Invest”
4. Select “Recurring Investment”
5. Select “Stop Recurring” on the desktop app.
6. Tap On the mobile app, toggle off your Recurring Investment.
Can I pause this subscription instead of canceling No, you cannot pause your service. If you decide to cancel it and need it again in the future, just log back on with the email address and password used when creating your account.
When you invest in an Acorns Core account, we can initiate a transfer to your checking account any time after the first 30 days. However, this does not happen on all retirement and IRA accounts for up to 60 days.
Acorns do not store your bank login information. We protect your account with 256-bit encryption to ensure that it is uncompromised and monitored for unusual activity.
You can make a withdrawal from your Acorns account in the iOS and Android apps or via the web app.
You may have to pay taxes on any dividend you generate. If Acorns automatically reinvests the dividends, the form will note any dividends if your dividends are more than $10 for the past year.