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
The updated policy discloses that Acorns collects and processes personal information from users of its Invest My Tips feature, including public profile data, payment information, and QR code details. This information is shared with payment processors and fraud detection providers to enable the feature. The policy also establishes that Acorns does not sell or share text messaging opt-in data to third parties outside of carriers and service providers, which provides a specific protection for SMS communications.
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We will retain your Data for as long as necessary: (i) to achieve the purposes as set out in this Policy; (ii) as required by applicable laws and regulations, including any mandated retention periods...
We retain personal information for as long as necessary to provide the products and fulfill the transactions you have requested, comply with our legal obligations, resolve disputes, enforce our agreements, and other legitimate...
We may continue to retain some information even after you delete your account if we are required to do so in order to comply with applicable laws.
"The length of time we retain particular categories of personal information is determined based on whether it is sufficient to fulfill the purposes for which we collected it, including to satisfy legal, regulatory, accounting, or reporting requirements...Excerpt from Acorns's Privacy Policy
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The clause states: “The length of time we retain particular categories of personal information is determined based on whether it is sufficient to fulfill the purposes for which we collected it, including to satisfy legal, regulatory, accounting, or reporting requirements...”
ConductAtlas has identified this type of provision across 267 platforms. See the full comparison.
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