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You should refer to the Product Disclosure Statement on this Website for more detailed information about the Acorns product.
Why Acorns?

What is Acorns?

Acorns is a financial service, helping you to save and invest your money. We enable Australians to start early, invest often, and reach their financial goals.

How does Acorns work?

Acorns helps you proactively invest. One key feature is round-ups; we round up each of your transactions to the nearest dollar, and invest the change into a diversified portfolio. Simply connect a credit card, debit card, or other funding source, then provide us with some basic information. We give you the option of choosing a portfolio that is in line with your investment goals and the amount of risk you’re comfortable taking.

Note that Acorns offers other great ways of investing besides round-ups, for more info please see this article.

What makes Acorns different?

A personalised investment portfolio, no account minimums, no commissions, and fractional investing – all in your pocket. Acorns wants to make investing more accessible for everyone, and at the same time give the you a service which makes saving easy.

Opening an account

What do I need to get started?

After you’ve installed the free Acorns app, all you’ll need to start investing is:

What’s involved in the signup process?

We’ve kept the signup process as painless as possible. Simply provide your email address, choose a secure password, link a funding account, and answer a few questions about yourself.

Once that’s done we will verify your account as soon as we can.

What is account verification?

The Anti-Money Laundering Act (AML/CTF Act 2006) obliges institutions such as Acorns to collect and verify certain ‘information about a customers’ identity. This is standard for any financial institution. We ask for some basic information (legal first and last name, home address, etc.). We will verify your account as quickly as we can once we have this information, however if there is any inaccuracy in the info provided, your funds will not be invested until your identity is verified.

You can be sure that Acorns will take care of any information you provide and that our procedures will be in keeping with Privacy Act 1998.

Is there a minimum investment amount required to open an account?

No, Acorns has no minimum account balance requirement to open an account, but in order for you to start investing your funds into your chosen portfolio your round-ups/lump sums must amount to more than $5. This is conveniently done through our round-ups process; each time you make a purchase, those rounds-ups accumulate towards the $5 threshold.

What happens if I delete the Acorns App from my device, or get a new phone?

Acorns operates in the cloud and your account and investments are safe even if you delete the app or get a new phone or device. Automatic round-ups and recurring deposits will still be processed even if the Acorns app is not currently installed.

Can I withdraw my money or close my account at any time?

Yes you can withdraw your money anytime through the app or you can close your Australian account anytime by using the email contact,, to receive assistance in the account closure. Please note, that this is for Australian customers only. Also note, that uninstalling the app does not close your investment account, or cancel any pending/scheduled transactions.

What is a Product Disclosure Statement (PDS)

When you opened you Acorns account you were sent a PDS. There is also a PDS on our website. A PDS is the document that contains information about the Acorns financial product including any significant benefits and significant risks, the cost of the Acorns financial product and the fees and charges that Acorns may receive. You should read the PDS carefully before deciding to open an Acorns Investment Account.

My investment portfolio

How do I choose an Investment portfolio?

Acorns has constructed and offers you the choice of 5 portfolios, running from conservative (least risky) and aggressive (most risky) – please refer to the PDS for more information - these portfolios have different risk profiles and accordingly have different expected returns. You can use the iphone or android app or visit our website to see the selection of our portfolios, and read more about the underlying investments in the PDS we sent you. So you can choose a portfolio which best suits you.

What is my investment portfolio? What do I own?

Your investment portfolio is comprised of seven ETFs. ETFs trade like stocks and represent broad holdings of stocks, bonds or cash. For more information on ETFs please read this article.

Can I change my portfolio?

Yes, if you change your mind at any point, you always have the option to change your portfolio to one of the alternatives with no fees being charged for switching. We want you to be sure you’re comfortable with the risk level of whatever portfolio you choose.

Can I invest in individual stocks, bonds or other securities of my choice through Acorns, or opt out of some of Acorns’ investments?

You cannot opt out of any of the ETFs in Acorns’ portfolios, nor of the stocks or bonds of which the ETFs are comprised. You also do not have the option of choosing to invest in other stocks, bonds, or other securities or currency.

Is there risk involved in my investment?

Yes. The securities you own are subject to market fluctuations. This is why we advocate long-term investment goals. For more information about our investment methodology and risks associated with each investment please refer to the relevant sections of the PDS you were sent, on our website.

What is an ETF?

Find out more about ETFs in this helpful article.

What is automatic rebalancing?

Automatic rebalancing is Acorns’s method of maintaining your specific portfolio allocation. Market fluctuations may cause some of the securities in your portfolio to appreciate or depreciate in value. When this occurs, we use automatic rebalancing to bring your portfolio back to its specified allocation. This ensures that the securities in your investment account are proportioned correctly.

How does Acorns rebalance my portfolio?

Acorns automatically rebalances your portfolio as you invest. Every time you deposit or withdraw funds, we adjust the proportions of ETFs purchased to move your account towards its target portfolio allocation.

We also periodically review, typically on a quarterly basis, and rebalance your portfolio whenever the percentage holding of one or more ETFs fluctuates 5% above or below its target allocation. We sell overrepresented ETFs and use the proceeds to buy underrepresented ETFs to bring your portfolio towards its target allocation.

Rebalancing also occurs whenever you request to change your portfolio. We adjust the allocation of each fund to match the new risk profile. We sell overrepresented ETFs and use the proceeds to buy underrepresented ETFs to bring your portfolio in line with its new target allocation. This rebalancing occurs within a few business days of a portfolio change request.

Won’t I earn dividends and distributions from my portfolio?

Yes you will! Your dividends and distributions will be automatically reinvested in your portfolio, you can view your dividends and distribution history through the platform.

How often do I earn dividends and distributions?

The seven ETFs that make up your portfolio pay dividends and distributions on varying schedules – for more detailed information on the ETFs and their dividend schedules please refer to the prospectus of each individual ETF, which will be found on their websites.

How do I cancel pending transactions?

In order to cancel pending investments, please visit the "History" page of the app and find the transaction that you would like to cancel, under the "Pending" tab. Swipe the pending transaction to the left and tap the "Cancel" button to stop that transaction.

Please note: If a lock is displayed then the transaction is currently processing and cannot be canceled.

Deposits and Withdrawals

Can I withdraw my money whenever I want?

Yes you can withdraw money from your Acorns account at any time. This will take 5-7 business days to process before the funds become available in your account.

How long does it take to transfer funds into my Acorns account?

It will take 1-3 business days for funds transferred to your Acorns account to become available to invest. These funds will be shown as “pending” during this time period.

Is there a limit to how much money I can deposit at one time?

Yes. There is currently a daily deposit limit of $10,000

Is there a limit to how much I can withdraw at one time?

No. You can withdraw any amount from your balance at any time.

Can I change my funding account?

Yes, if you wish to change your funding account, you must first unlink your current funding account, then add a new one. In accordance with our anti-fraud procedure we may require further verification before a change of funding account is processed – which could take up to 90 business days.

I received a NSF (non-sufficient funds) or fee on my bank account because of Acorns! Can you reimburse me for this?

Acorns remind all customers to always make sure that their account has the proper funds before committing to an investment in the app. If, for any reason, investments made by you (or because of a setting which you configured in the app) are charged back due to non-sufficient funds or cause a fee on your account, Acorns will not be responsible for any of these fees charged to you by your bank.


Why does Acorns need my bank login information?

You can monitor your spending through the app, allowing you to spot investment opportunities. To access this you’ll need to provide your online banking login information. However, this information is not stored and is not viewable by Acorns- it’s simply used to import your spending activity. This will not enable money to be transferred from your bank account.

Does Acorns store my bank login information on their servers?

No. Acorns does not store your bank login information.

Why does Acorns need my Tax File Number?

We require your Tax File Number to issue you a tax reporting form at the end of each year.

How do I protect my Acorns account?

We recommend that you keep your Acorns account secure by always logging out after use. In fact, we automatically log you out of the app after periods of inactivity and require you to enter your passcode to get back on. Additionally, you should choose a difficult-to-guess password and store it in a secure location.

My account has been locked due to suspicious activity, how can I get it unlocked?

For your security, we require that you contact the Acorns Investor Success Team in order to unlock your account. Note that this will require the confirmation of some personal information. Please visit the bottom of this page to reach our Support Team.

Taxes and Fees

Do I have to pay taxes on money I make through my Acorns account?

Yes, you need to pay taxes on all realised capital gains. You can also deduct any realised capital losses.

How do Acorns make money?

Acorns is completely free to download. Once an account is opened, there are no fees on $0 balances and after that we only charge $1.25 per month for accounts with a balance under $5,000 and 0.275% per year (charged monthly, computed daily), for accounts with a balance of $5,000 and over. For more information on our fees, including our Fee Estimator, please visit the PDS on our website.

How and when does Acorns receive its fee?

Fees will be charged on the last market trading day of the month. For accounts with balance over $5,000, Acorns will sell ETFs (or in most cases, fractional ETFs) from your account to cover the fee. For Accounts with balance under $5,000, fees will be charged by direct debit from your nominated funding source.

Are there withdrawal fees?

No. It is always free to move money in and out of your Acorns account.

Will I be charged a fee if I have a $0 balance?

No, there are no fees on $0 balances.


A “round-up” is the virtual spare change captured from rounding up a transaction to the nearest dollar. When you link a credit or debit card to your Acorns account, we track the spare change from your transactions and make it available for you to invest. Your round-ups will be viewable in the app. Simply choose which ones you would like to invest, or change your settings to automatically invest round-ups after each purchase.

Where does the round-up money come from?

Round-up funds come from the funding account that you connect as a funding source for Acorns. If you connect multiple bank accounts, credit or debit cards, then all of your round-ups will still come from only the connected funding account. This funding account is also the account that funds are sent back to when a withdrawal is requested. For example, if you spend $3.50 using your credit card then that $.50 will eventually come out of your funding account when the round-ups add up to at least $5.

How do I set automatic round-ups?

Automatic round-ups can be turned on and off on the “Settings” section under the “Accounts” screen.

Can I still use round-ups without making them automatic?

Yes. If automatic round-ups are turned off, you can go to the “Round-ups” screen and manually select which round-ups you want to invest.

Is there a limit on the number of cards I can use for round-ups?

No. You can link as many cards as you like.

Will there be a round-up on even amounts of money?

Yes, even amounts will round up an entire dollar. However, you can change the amount that is rounded up in these cases, to any amount from $0.00 to $1.00. See our App Guide for instructions on how to configure this.

What happens if one of my linked cards is lost or stolen?

Your account with Acorns is not at risk if one of your linked cards is lost or stolen. However, you should still unlink the card from your Acorns account. This can be done in the Round-up Accounts section.

How does tipping at a restaurant affect round-ups?

Round-ups are based on final amounts charged to your card, including tips.

Still need help?

You can refer to the PDS on our website or contact our Investor Success Team using the contact information below and we would be more than happy to assist you.

My Finances & Carbon Footprint Calculator

What is My Finances?

My Finances is your personal finance concierge, delivered in the Acorns app. My Finance allows you to gain a personalised overview of where you spend your money & your forecast future cashflow, and receive tips & insights regarding your spending & savings.

How does it work?

My Finances uses your already-linked spending accounts. You can view and overview on where you spend your money based on high level categories such as “Shopping” or “Food & Dinning”. It also harnesses machine learning & artificial intelligence to recognize your spending habits and earnings, to create a cashflow forecast to assist you in your financial planning.

Personal tips will be displayed in the Acorns App to help you get a better understanding of your personal finance, without having to add a budget.

What are the benefits to me?

My Finances can help you effortlessly budget, and analyse spending, by providing personalised tips which give you insights on where you spend your money, and how you may be able to save more money.

Do I have to have a spending account linked?

To get the most benefit and useful insights you need to link your spending accounts through the Acorns app, so that My Finances can gather the data necessary to provide personalised tips.

If you haven't done this already, you can do this by going through the Acorns app to settings > spending account > add a new spending account.

What if I just have my funding source linked?

My Finances will not have data if you only have a funding source linked. This is because linking spending accounts provides consent to us to uses transactional data, whilst your funding source may only be linked by using a BSB and Account number for direct debits/credits only.

What if some of my transactions aren't categorised?

If you find that some of your transactions are not yet categorised, you can go through the Acorns app into My Finances > Transaction Categorisation > No Category. Here you can designate your transactions to specific cateogories which will help the app learn to categorise spending in the future. You can also change the automatic categorization done by the Acorns App.

What if I want to not include some transactions in my calculations?

If you would like to uncategorise some transactions, you can do this too. Please go to My Finances > Transaction Categorisation and then select which transactions (e.g., like transfers) you would not like to Include.

Can I get my IRR (Internal Rate of Return)?

Yes, you can! If you would like a more specific IRR to understand your returns including the effect withdrawals have on your ongoing Market Return, you can ask us on and we can have our data scientist work on that for you.

What is the Carbon Footprint Calculation?

The Carbon Footprint estimates your carbon footprint, based on your spending activity. Acorns’ calculator was built using a model from industry experts, and has the stamp of approval from Emerald Club Ltd., Australia’s largest socially-responsible platform.