How long does it take to withdraw money?

Article author
Alexander G.
  • Updated

How withdrawals work with the stock market 

Important information about withdrawals

If you want to take money out of your Acorns Checking account, you can do it whenever you like, and you won't pay any penalties. It typically takes 1-3 business days for the transfer to finish and show up in your other bank account.
When you take money out of your Acorns Invest, Early, or Later accounts, you have to sell your shares first. It can take 3-6 business days for your withdrawal to show up in your bank account.

How withdrawals work with the stock market

IIf you make a withdrawal from your Acorns Invest, Early, or Later accounts before the stock market opens, it's usually done on the same day. But if you make a withdrawal after the market opens or on a weekend, your withdrawal will happen on the next day. We then have to wait another 2 days before we can finish your request because of a government rule known as T+2.

Important information about withdrawals

Remember, there might be tax consequences when you sell your investments. Plus, pulling out money during a market dip can mean you're selling investments when their value is low. You're not giving your money a chance to bounce backHistory has shown that every time the market goes down, it eventually goes up again. So, if you're in it for the long haul, sticking with your investments could give your money a better shot at growing over time.

Instead, you may want to consider pausing your contributions.

If you do make a withdrawal, we may send you tax forms that you’ll need to file with your yearly taxes. We'll email you more information when it's close to tax time, or you can check for tax forms under Settings.

Your tax situation is unique, so you may want to consult a tax advisor or visit www.irs.gov with any questions before making a withdrawal. Acorns doesn't provide tax advice, but if you have any questions or issues with your withdrawal, please contact us.

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