Is Acorns a scam?

Article author
Trish V.
  • Updated

No, Acorns is not a scam. 

We've been helping everyday Americans save and invest since 2014. We've served over 13,000,000 customers, who have invested more than $20,000,000,000 with us.

Your trust means the world to us — it’s why we're committed to keeping your investments, savings, and personal information secure. Keep reading to learn more.


When you invest with Acorns, your money is invested into a SIPC-insured Acorns portfolio. SIPC, or the Securities Investor Protection Corporation, protects investments up to $500,000. SIPC was created to protect investors from the rare scenario of a brokerage company going under. 

Think of it like a safety net for your money — just like homeowners or renters insurance, this kind of insurance is there in the unlikely event of a disaster that's out of your control. Here's how SIPC protection works.

Acorns diversified portfolios are built by experts and are made up of exchange-traded funds, or ETFs. Here's a list of all the ETFs that make up our Base portfolios.

We'll recommend a Base portfolio for you based on your long-term money goals. And while we can’t guarantee the performance of the stock market, we'll help keep you on track for your goals with automatic portfolio rebalancing. 

You can check out how your investments are doing any time in the “Account Value” section of your Acorns app or 


Acorns Checking is our smart checking account that automatically saves and invests for you. 

Acorns isn't a bank — we partner with Lincoln Savings Bank or nbkc bank to provide Acorns Visa™ debit cards and banking services. Both banks are members of the FDIC to help give you peace of mind about the safety of your money. 

The FDIC, or the Federal Deposit Insurance Corporation, insures deposits in bank accounts up to $250,000. You can learn more about how your money is protected here.

Can I withdraw my money?

You can withdraw your money from your Acorns investment or checking accounts and close your Acorns account at any time. Here's more info on how to withdraw your money from your Acorns Invest account — heads up that withdrawals may take 3-6 business days if we need to sell your shares. 

Privacy and security

We make protecting your data, privacy, and assets a top priority. Acorns doesn't store your bank login information on its servers. But, we will need to ask you for some personal information so you can start investing. 

For example, we'll need to confirm your identity with your SSN or ITIN when you're setting up your account. We need to do this because of regulatory requirements, and also so we'll be able to send you the right tax forms.

For more information, here’s what we need from you to get started with Acorns

And if you have any questions about security, check out our privacy policy or get in touch.

Investing involves risk, including the loss of principal. Please consider your objectives, risk tolerance, and Acorns’ fees before investing. Acorns Advisers, LLC (“Acorns”) is an SEC-registered investment adviser. Brokerage services are provided to clients of Acorns by Acorns Securities, LLC. Member FINRA/SIPC. For more information visit

Investment advisory services offered by Acorns Advisers, LLC, an SEC-registered investment adviser. Acorns Securities, LLC is a member of SIPC. Securities in the account are protected up to $500,000. For details, please see SIPC does not protect against market risk, which is the risk inherent in a fluctuating market. Acorns is not a bank. 

Acorns Visa™ debit cards and banking services are issued and provided by Lincoln Savings Bank and nbkc bank, Members FDIC. Any balances you hold with Lincoln Savings Bank and nbkc bank, including but not limited to those balances held in Acorns Checking accounts, are added together and are insured up to $250,000 per depositor through Lincoln Savings Bank and nbkc bank. If you have funds jointly owned, these funds would be separately insured for up to $250,000 for each joint account owner. Lincoln Savings Bank and nbkc bank utilizes a deposit network service, which means that at any given time, all, none, or a portion of the funds in your Acorns Checking accounts may be placed into and held beneficially in your name at other depository institutions which are insured by the Federal Deposit Insurance Corporation (FDIC). For a complete list of other depository institutions where funds may be placed, please visit Balances moved to network banks are eligible for FDIC insurance once the funds arrive at a network bank. To learn more about pass-through deposit insurance applicable to your account, please see the Account Documentation. Additional information on FDIC insurance can be found at

Over 13 million all-time customers and over $20 billion invested since inception as of 01/23/2024. App store star rating as of January 2024. 

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