Acorns has a checking account called Spend with a debit card that applies Acorns and Acorns Later investing functionality to every purchase you make. Spend lets you instantly do real-time Round-Ups, as well as automatic retirement savings and extra savings via Acorns Earn.
You can also invest up to 10% of your everyday purchases from local retailers that are not enrolled with Acorns Earn. The debit card is offered through Visa, and you can use it at over 55,000 fee-free Allpoint ATMs across the country. Spend accounts are FDIC insured up to $250,000. Spend accounts are included with the Family account.
Other perks of Acorns Spend include:
- Smart Deposit — With Acorns Spend, you can automatically allocate a portion of your paycheck into your Invest, Later, or both accounts.
- Acorns Later — Acorns users can invest in a specially designed individual retirement account (IRA). Acorns Later is included in the Personal and Family account.
- Scheduled Deposits — Set recurring daily, weekly or monthly investments.
- “Learn” — Acorns features an education section that includes investing basics, FAQs, and a glossary.
- “Grow” — Interviews, news, and how-tos are available on the website or within the app.
- “Potential” — This tool allows users to see the impact that a theoretical additional investment (daily, weekly, or monthly) would have on their account.