Why is Acorns changing my subscription payment?

Article author
Devon
  • Updated

Thank you for being a part of Acorns. To continue growing our technology, business, and team, we upgraded our Acorns Lite customers to Acorns Personal on September 21st, 2021, and removed Acorns Lite from our Subscription Center. We hope you received our notices in the three emails we sent prior to this change, and the push notification to eligible devices. If you were on Acorns Lite before September 21st, your subscription will change from $1 per month to $3 per month, billed on your regular billing date. 

If you saw our notes, you know that we offered any customers experiencing economic hardship the option to stick with the $1 per month tier by opting out of the upgrade by September 21st. To ensure every customer can keep investing, we will maintain a $1 per month option through a new tier, Acorns Assist, designed for those facing economic hardship. Acorns Assist will include Acorns Invest, Acorns Earn, and Grow. Tap here to learn how you can choose Acorns Assist for $1 per month. 

We don’t take these decisions lightly and want you to understand how we came to this one.

  • Since 2014, we have not changed the price of our $1 per month subscription tier. We’ve grown the technology, security, team, and product, so it costs more to operate and we’ve carried that cost. But, that’s not sustainable in growing a business that advances our mission.
  • This change aims to create revenue that we can reinvest in Acorns, so we can bring you and everyone more tools of wealth-making.
  • The majority of our new customers are choosing the Acorns Personal or Acorns Family tiers, so we believe these tiers are providing more of the services that people want and need.

Like every decision we make, this one was filtered through our mission to look after the financial best interests of the up-and-coming, beginning with the empowering, proud step of micro-investing. We are excited to grow Acorns even more efficiently with you and will work every day to help everyone save and invest.

Please don’t hesitate to contact our support team with any questions.

What are the Benefits of Acorns Personal?

  • Real-time Round-Ups® Invest spare change with every swipe of your new Acorns debit card, instead of waiting for it to add up to $5
  • Smart Deposit Automatically invest a piece of each paycheck
  • Acorns Later Easy, automated retirement account with potential tax advantages while you invest
  • Acorns Checking Our smart checking account with a heavy metal debit card that invests in you

Can I Stay at the $1 Tier Even if I'm Not Experiencing Financial Hardship?

Thank you for your honesty. Acorns Assist is designed to help those who are facing economic hardship and we trust you to make that decision. Simply select Acorns Assist and we will honor your request. You will remain at the $1 per month tier with access to the features you use today. We're excited to help you grow your oak.

How do I choose Acorns Assist?

If you are experiencing economic hardship, you may downgrade to Acorns Assist by following these steps. Acorns Assist includes Acorns Invest, Acorns Earn and Grow, for $1 per month. 

For Mobile:

  1. After logging in to your account, tap the menu (avatar) in the upper left corner of the screen
  2. Tap "Settings"
  3. Tap "My Subscription"
  4. Under the "Manage" header you can tap "Need another option"
  5. Tap "Downgrade now" and you will walk through a closure process to close any accounts in the premium tiers
  6. Close any individual account(s) that you have open (Later, Checking, or Early) 
  7. Tap "Close account" and we'll guide you through the process
  8. Once premium tier accounts have been closed you can tap "Switch to Acorns Assist"

For Web:

  1. After logging in to your account, click on the menu (avatar) in the upper right corner of the screen
  2. Click on "Profile & Settings"
  3. Click on "My Subscription"
  4. Under the "Manage" header you can tap "Need another option"
  5. Tap "Downgrade now" and you will walk through a closure process to close any accounts in the premium tiers
  6. Close any individual account(s) that you have open (Later, Checking, or Early) 
  7. Tap "Close account" and we'll guide you through the process
  8. Once premium tier accounts have been closed you can tap "Switch to Acorns Assist"

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