How do I close my Invest Account?

At Acorns, you have the ability to close individual accounts or cancel your subscription entirely. 

 

Below you can find some common questions regarding closing an Acorns account. 

For steps on how to close your account and/or cancel your subscription, click Here

For steps on how to Upgrade/Downgrade your subscription, click Here

 

Why was I charged a Subscription fee after I closed my account? This can happen due to the bank's processing times. For more information, please click Here. Closing your account DOES NOT cancel your subscription. You will continue to be billed for your monthly subscription until it is canceled.

How long does it take to get my funds? Once you request to close your account, your funds will be liquidated and returned to your linked primary checking account in 3-6 business days. To learn more about our processing timeframes, click Here.

I have funds in the account, which bank will it go to? You’ll need a verified checking account linked to your Acorns account so that we can transfer your money when closing your account. Your funds will be returned to the Primary bank account you have linked to your Acorns account. For steps on how to view your linked accounts, click Here

What happens to the investments that have NOT begun processing? Any pending investments that have NOT begun processing will be canceled when your account is closed (including, One-time Investments, Recurring Investments, Earn Rewards, Referral Rewards, and Round-Ups®).

What happens to the investments that HAVE begun processing? Investments that have begun processing can’t be canceled but will be liquidated and transferred to your linked primary checking account once they finish processing. You can check the Recent Activity screen to see if there are any processing investments.

*Please note, if there’s a delay in processing due to dividend payouts that were initiated after your withdrawal request, the liquidation process generally takes 3-5 business days to fully process. 

I closed my account by accident, how do I reopen it? In the future, if you would like to reopen your account, you simply need to login into your closed Acorns account and you will see a prompt to reopen the account. That information can also be found Here.

I want to close my Later account, are there any penalties?   With any IRA, there are often tax implications for early withdrawals or transfers (generally a 10% penalty and possibly income taxes and/or other penalties). You can learn more about the specifics from the IRS website Here or consult a tax specialist. To find more information about potential withdrawal penalties with Acorns, please click Here.

If you are closing the Acorns Later IRA account, you may wish to consider a rollover. The IRS allows for one rollover per year by withdrawing your funds and placing them into another qualified retirement account. Please see our roll-over FAQ to see that process. 

I want all my information deleted, how do I do that? As a financial institution, all application and account records are required by law to be retained to meet regulatory requirements. That said, your security is our top priority. We don’t sell any account information to third parties and we use bank-level encryption to ensure that all your info is as secure as possible. If you’d like more information, you can check out our privacy policy at https://acorns.com/privacy/

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