How to Cancel Acorns Subscription

Paying $3 a month to invest in portfolios built and managed by investment firm heavyweights BlackRock and Vanguard sounds great.

But if you can’t invest enough to have dividends in the double digits at the very least, then you’re essentially settling for the crumbs left behind by Acorns.

If your current financial situation doesn’t allow you to invest a larger amount of money within the year, your best move might be to learn how to cancel your Acorns subscription.

How to Cancel Your Acorns Subscription Online

Follow the steps below to cancel your Acorns subscription on the website.

1. Log into your Acorns account.
2. Click on your Profile icon.
3. Go to “Personal Settings” and click “My Subscription.”
4. Scroll down to “Manage” and click “Cancel Subscription.”
5. Follow the instructions on how to close your accounts.

How to Cancel Your Acorns Subscription on the App

1. Open the Acorns app.
2. Tap your Profile icon.
3. Tap “Settings.”
4. Tap “My Subscription.”
5. Scroll down to “Manage” and tap “Cancel Subscription.”
6. Follow the instructions on how to close your accounts.

💡 Note: Once you cancel your subscription and your accounts are closed, Acorn will automatically sell all shares and transfer the balance to your verified checking account.

Is Acorns Worth its Monthly Fee?

Acorns is an ideal app for people looking to get their feet wet in the exciting, high-stakes world of the equities market while saving money simultaneously.

However, if you have limited funds to invest, the monthly charges will add up and make the investment expensive to manage. You might want to consider investment apps that charge a percentage of your investment as management fees.

For example, if you signed up for the $3 per month Acorns Personal subscription, the annual cost of maintaining a $100 investment will be $36.

A $100 investment at Betterment, which charges 0.25% as its annual management fee, will only cost you $0.25. If you don’t feel confident about your financial prospects this year, you can still cancel your Acorns subscription and look for other ways to grow your wealth.

How to Close Your Acorns Account Online

Follow the steps below to close your Acorns account on the website.

1. Log into your Acorns account.
2. Click your Profile icon.
3. Click “Profile & Settings.”
4. Click “My Subscription.”
5. Scroll down to “Change Tier” and click “Close Account.”
6. Select the accounts that you want to close.
7. Follow the instructions to complete the account closing process.

💡 Note: Closing an account won’t cancel your Acorns subscription. To avoid being billed for the following month’s fees, cancel your subscription before closing your accounts.

How to Close Your Acorns Account on the App

1. Open the Acorns app.
2. Tap your Profile icon.
3. Tap “Settings.”
4. Tap “My Subscription.”
5. Select the accounts you want to close.
6. Tap “Close Account.”
7. Follow the instructions to complete the account closing process.

💡 Note: Closing an account won’t cancel your Acorns subscription. To avoid being billed for the following month’s fees, cancel your subscription before closing your accounts.

How to Manage Your Acorns Subscription

Your Acorns subscription has built-in features that allow you to manage key functions and troubleshoot your account.

1. How to get your Acorns account unlocked:

• Acorns will email you a list of documents you must submit to unlock your account.
• Acorns will give you instructions on how to upload the documents, or you can use this link.
• Once logged in, a pop-up window should appear on your screen. Select “Document Uploader.” If the pop-up window doesn’t appear, contact customer support.
• When the documents have been successfully uploaded, expect someone from the customer support team to contact you.

2. How to reset your Acorns password:

• Click “Forgot Password?” on the log-in page.
• Enter your email address, click “Send Email.”
• Open the “Reset password” email and click “Change my Password.”
• Provide the required information, then click “Change Password.”

3. How to reset your Acorns Login PIN:

• Log into your Acorns account.
• Click “Profile & Settings.”
• Go to the “Security” section and click “Change Login PIN.”
• Enter your current PIN.
• Enter your new PIN and re-enter it to confirm.
• Click “Submit.”
• Follow the instructions to confirm your new PIN, click “Submit.”

Frequently Asked Questions (FAQs)

1. Why can’t I cancel my Acorns subscription?

Before you cancel your Acorns subscription, check if you have a verified checking account linked to it. After you cancel the subscription, Acorns will transfer all account balances to your verified checking account.

2. How do I stop Acorns payments?

You can stop Acorn payments by canceling your subscription. Closing an account does not cancel your subscription, and you will continue to be billed monthly fees.

3. How do I cancel my Acorns contribution?

To cancel your Acorns contribution, you have to cancel your Acorns subscription and close your account.

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Summary

To cancel your Acorns subscription, log into your Acorns account, click on your Profile to get to the Personal Settings section, then click My Subscriptions Scroll to the Manage section and click Cancel Subscription.