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What is Overdraft Intelligence?

Article author
Alexander G.
  • Updated

Acorns has an agreement with some of the major banks, where if a deposit is attempted that may put your primary checking account under a certain amount (usually around $25), our system will flag it as a deposit that may not complete and it is automatically canceled.

For example, if there is $30 in your primary checking account and you try to invest $15, the deposit will be canceled. Keep in mind that this is only at the exact time the system tries to make the investment, and if you have a pending deposit to your checking account it may not register quite yet. This doesn’t actually put a suspension on your account, it just cancels that single investment. If a recent deposit was made into your checking account, it can take Acorns anywhere from 24-48 hours to read the accurate balance and release the pause.

However, keep in mind this is not 100% effective protection against overdrafts due to deposit processing times (which takes 1-3 business days). If there is an investment triggered on Tuesday and it is not identified as a problem, it might not be pulled from the checking account until Thursday. If there are numerous other transactions within your checking account between that Tuesday and Thursday, this may cause an overdraft.

Please note, we are unable to disable this feature.

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