This analysis describes what Acorns's agreement states, permits, or reserves. It does not constitute a legal determination about enforceability. Regulatory applicability and practical outcomes may vary by jurisdiction, enforcement context, and individual circumstances. Read our methodology
This provision operationalizes account establishment procedures for minor beneficiaries under COPPA (Children's Online Privacy Protection Act) compliance requirements, establishing parental responsibility as the control mechanism for account administration and data submission accuracy.
The updated policy removes explicit language describing how data flows when users sign in via Apple or Google, including what information those services share with Acorns and how it is used. Previously, the policy stated that Acorns receives information such as name and email address through third-party sign-in services solely to manage accounts and provide services. The revised language also shifts the AI chatbot from an optional feature users 'may access' to a stated service Acorns 'uses' to direct users to internal articles. Users no longer have a published explanation of third-party sign-in data practices in the privacy notice, though the terms suggest data shared through third-party services remains subject to those providers' terms.
View change record →Parents and guardians opening Acorns Early accounts are required to provide accurate identifying information for the minor beneficiary and assume responsibility for data accuracy as a condition of account establishment. The terms apply verifiable parental consent requirements before collection of personal information from children under 13.
How other platforms handle this
Our platform is not directed to children under the age of 13, and we do not knowingly collect personal data from children under 13. If we become aware that we have collected personal data from a child under 13, we will take steps to delete that information.
Our Services are not directed to individuals under the age of 18. We do not knowingly collect personal information from children under 18. If we become aware that a child under 18 has provided us with personal information, we will take steps to delete such information.
Our Services are not directed to children under the age of 16 and we do not knowingly collect personal data from children under 16. If we become aware that a child under 16 has provided us with personal data, we will take steps to delete such information.
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"Acorns Early accounts are investment accounts for minors managed by a parent or guardian. We collect information about the minor beneficiary including name and date of birth as required to establish and manage the account. Parents and guardians are responsible for ensuring that any information submitted about a minor is accurate. We do not knowingly collect personal information from children under 13 without verifiable parental consent.— Excerpt from Acorns's Acorns Privacy Policy
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This provision operationalizes account establishment procedures for minor beneficiaries under COPPA (Children's Online Privacy Protection Act) compliance requirements, establishing parental responsibility as the control mechanism for account administration and data submission accuracy.
Parents and guardians opening Acorns Early accounts are required to provide accurate identifying information for the minor beneficiary and assume responsibility for data accuracy as a condition of account establishment. The terms apply verifiable parental consent requirements before collection of personal information from children under 13.
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