Acorns is a service that helps you invest your money easily, especially by rounding up your everyday purchases to invest the spare change. They offer simple subscription plans starting at $3 a month, which give you access to things like investment accounts, retirement savings, and even kid-friendly investing. Higher-tier plans add benefits like matching retirement contributions, custom portfolios, and life insurance. So if you see a charge from Acorns, it's usually for one of these monthly subscription plans that bundle their investing, banking, and financial tools all in one place.
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The process to cancel an Acorns subscription is straightforward as it can be done within the app by navigating through profile, settings, personal section, subscription, and confirming account closure. However, users must withdraw any pending investments before closing the account, which adds a minor step but is generally simple and quick to complete.
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How to Cancel Acorns: Step by Step
If you purchased through Acorns.com:
- Log in to your Acorns account on the app or website.
- Navigate to the Profile icon on the home screen.
- Go to Settings.
- Select My Subscription.
- Scroll down and click on Cancel Subscription.
- Follow the prompts to confirm your cancellation.
If you purchased through the Apple App Store:
- Open the Settings app on your iPhone or iPad.
- Tap your Name at the top of the Settings menu.
- Select Subscriptions.
- Find and tap on your Acorns subscription.
- Select Cancel Subscription at the bottom of the screen.
- Follow the prompts to confirm the cancellation.
If you purchased through Google Play:
- Open the Google Play Store app.
- Tap the Menu icon (three horizontal lines) in the top left corner.
- Select Subscriptions.
- Find and tap on your Acorns subscription.
- Select Cancel Subscription and follow the prompts.
Tips & Tricks for Canceling Acorns
- Be prepared for verification requests: Acorns may require you to upload utility bills and photo ID before allowing cancellation, so have these documents ready.
- Clear and firm language works best: When contacting support, use firm and clear language laying out your intent to cancel or close the account without further delays.
- Escalate by asking for supervisors: If frontline support is unhelpful, explicitly ask to escalate the issue to supervisors or higher-level support.
- Document everything: Save emails, chat transcripts, and screenshots of cancellation requests or confirmation pages to use as proof if needed.
- Timing matters for transfers: For cancelling money transfers into Acorns, act early in the day (before 7am Eastern on Mondays) to cancel weekly transfers.
- Disable recurring payments separately: Closing the account may not stop subscription charges; ensure you also disable recurring payments with your bank or card issuer.
- Monitor transactions closely: Enable transaction notifications on your bank account to catch any continued charges immediately.
- Contact your bank to block payments if necessary: Some users have had to ask their bank to block Acorns charges due to ongoing billing after cancellation.
- Use firm emails for fund transfers and rollovers: If moving funds out is problematic, send firm emails mentioning rollover rules and legal rights to get action from support.
- Stay persistent: Users report needing to repeatedly contact support over weeks or months to finalize account closure and stop charges.
Acorns Customer Service Info
If you need assistance, here's how you can get in touch with Acorns's support team.
Cancel Acorns Script
Script
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Dear Acorns Support Team,
I hope this message finds you well. I am writing to request the cancellation of my subscription. Due to recent financial changes, I need to reevaluate my monthly expenses and, unfortunately, I have to discontinue my subscription at this time.
I appreciate the services you've provided and hope to consider rejoining in the future when my situation allows.
Thank you for your assistance with this matter.
Best regards,
Frequently Asked Questions
Acorns allows you to cancel your subscription at any time through the Acorns app by accessing settings and managing your subscription. Upon cancellation, all active accounts are closed, which means your shares in investment and savings accounts will be sold and the funds returned to you. You will not be billed further once you cancel your subscription.
Yes, you need your password to cancel your Acorns subscription as cancellation is done through your account settings after logging in. If you don't remember your password, you can reset it using the following URL: https://signin.acorns.com/forgot-password. Once logged in, you can go to your profile settings and manage your subscription to cancel it.
- Continued billing after cancellation: Users report being charged even after canceling subscription or closing accounts.
- Difficulty canceling subscriptions: Acorns sometimes refuses or makes it hard to cancel subscriptions.
- Unauthorized subscription restarts: Automatic investing subscriptions were restarted without explicit permission causing unwanted charges.
- Overdraft fees due to charges: Continued billing led to overdraft fees for some users.
- Delayed fund transfers: Complaints about delays in transferring funds after selling investments.
- Poor customer service: Issues with unresponsiveness, busy signals, and difficulty reaching support.
- Refund issues: Refusal to refund subscription fees withdrawn after cancellation requests.
- Account verification problems: Repeated requests for documents without progress, complicating account management or cancellation.
- Referral bonus issues: Delays or failure in honoring referral bonuses due to identity verification problems.
- Fraud and unauthorized charges: Reports of unauthorized account openings and fraudulent transactions with inadequate support from Acorns.
- Emotional difficulty with withdrawing investments: Some users find it emotionally hard to cancel or withdraw funds despite financial goals.
You can cancel your Acorns subscription at any time without any contracts, lock-ins, or early-cancellation fees. However, to fully stop being billed, you need to cancel your subscription separately from closing your investment accounts, as closing accounts alone does not cancel the subscription and billing will continue until the subscription itself is cancelled. Also, no refunds are provided for mid-billing cycle cancellations.
Before cancelling your Acorns subscription, know that all your active accounts will be closed. This means any investments you have will be sold, and the resulting balance will be transferred to your linked primary checking account. You will lose access to all investment and savings features connected to the subscription. Additionally, withdrawing funds from certain accounts like Acorns Later may involve penalties and potential tax implications. If you are not ready to close your accounts, exploring a different subscription plan might be a better option.
- Acorns account login credentials (email and password)
- Access to your registered email address (for confirmation or verification communications)
- Photo identification (government-issued ID) (may be required for identity verification, especially if your account is locked)
- Proof of address (e.g., utility bill, bank statement, or rent statement) (may be required if account is locked or for additional verification)
- Withdrawal of all invested funds (you will need to liquidate your investments before final account closure)
- Bank account information (to withdraw and transfer any remaining funds in your Acorns account)
- Knowledge of your subscription type (to ensure you are canceling the correct subscription or service tier within Acorns)
We've actually written a step by step guide on how to get a refund from Acorns. Check it out!
The Easiest Way to Cancel Acorns
If you’re frustrated trying to cancel your subscription, membership, or bill from Acorns—or if you didn’t even realize you were being charged—Chargeback can help. Chargeback is a personal subscription manager that automatically detects hidden, recurring charges like Netflix, Hulu, and hundreds of others. With one click, we can cancel unwanted subscriptions, flag suspicious billing, and even initiate refund requests on your behalf. No more waiting on hold or navigating confusing help pages. Just connect your bank or email account, and we’ll take care of the rest.
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What Are Some Alternatives to Acorns?
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Editorial Note: These articles reflect the opinions of Chargeback's writers. Everyone's situation is unique; therefore, it is important to conduct your own research and note that our self-help tools are not guaranteed to help with any specific problem.
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