Acorns Account Security

Article author
Alex
  • Updated

Opening an Acorns account is opening an investment account; therefore your gains/losses are subject to tax laws. Because of this, and because Acorns is subject to regulatory oversight by FINRA, and the SEC, we are required to gather personal information from you in order to abide by the rules and regulations put forth by these organizations. We have to make sure that we are stringent with account approvals and comply with all regulations. We hope you understand. 

Additionally, the Patriot Act requires all financial institutions to obtain, verify, and keep certain records that identify each person who opens an account. We also require your social security number in order to issue you a tax reporting form at the end of the year. As for security, here is some information on how we do everything we can to keep your data secure.

  • Member of SIPC. Securities in your account are protected up to $500,000. For details please see www.sipc.org.

  • FDIC Protected Acorns Checking Account: Your deposits in your Acorns Checking account are insured up to $250,000 - that’s because our banking partners, Lincoln Savings Bank and nbkc bank are both FDIC members. 

  • Security: Your peace of mind is our highest priority. Acorns works to secure your information, prevent unauthorized account access, and to notify you of unusual activity.

  • SSL Encryption: The website and app are secured with 256-bit encryption.

  • Account Alerts: We will contact you about unusual account activity to help secure your account against fraud.

  • Account Safeguards: Automatic logouts and ID verification to help prevent unauthorized access.

  • Privacy: Acorns is committed to maintaining the confidentiality, integrity and security of any personal information about our users.

Your account security is our top priority at Acorns. If you see any transactions that you do not recognize, be sure to first check if there is an automatic transfer set up on your account. For more information regarding your recent account activity, please click here

 

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