5. Acorns review

Acorns Spend

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.

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