Why is there a subscription for the Mighty Oak Card?

Article author
Alexander G.
  • Updated

There is not a separate charge for the Mighty Oak Card. The Mighty Oak Card is available at the $6 and $12 subscription tiers. The subscription is a monthly cost for a suite of Acorns products that can help you save and invest for your future.

When signing up for the Mighty Oak Card, you can get your entire subscription fee waived by setting up direct deposit!

To receive a fee waiver with your Mighty Oak Card, you must do the following:

  • Have a minimum of $250 directly deposited into your Acorns Checking Account within 45 days of signing up for your Mighty Oak Card

In order to qualify, you will need set up direct deposit through your employer's payroll provider (ADP, Dayforce, Quickbooks, Paylocity, etc.) then the fee waiver will automatically be applied once the direct deposit hits the Acorns Checking account. Also, if you are self-employed, you are still eligible for the waiver! Simply set up direct deposit through the payroll provider you use.

So anyone in the Personal Plus & Premium tiers are eligible as long as you sign up for the Mighty Oak Card and set up direct deposit through your payroll provider. Setting up direct deposit through their employer’s HR department using an account and routing number won’t qualify.

To continue receiving a fee waiver, you must have at least $250 in direct deposits per month in your Acorns Checking account. This can also be broken down into two $125 biweekly direct deposit payments. 

 

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