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
Using the service constitutes an express grant of authority for Acorns to access financial institution data on the user's behalf and a separate agreement to Plaid handling that data, involving a named third party in sensitive financial data flows.
Interpretive note: The canonical claim contains two independent legal effects joined by 'and': the grant of authority to Acorns and the separate agreement to Plaid's data handling. These are closely related and arise from the same triggering act (using the service), but they are technically independent propositions. Both are included because they are inseparable in establishing the full scope of what using the service entails with respect to Plaid.
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.
View change record →By using Acorns' service, you authorize Acorns to access your financial institution data on your behalf and agree that Plaid will transfer, store, and process that data.
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"By using the Service, you grant Acorns the right, power, and authority to act on your behalf to access and transmit your personal and financial information from your relevant financial institution. You agree to your personal and financial information being transferred, stored, and processed by Plaid.Excerpt from Acorns's Privacy Policy
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Using the service constitutes an express grant of authority for Acorns to access financial institution data on the user's behalf and a separate agreement to Plaid handling that data, involving a named third party in sensitive financial data flows.
By using Acorns' service, you authorize Acorns to access your financial institution data on your behalf and agree that Plaid will transfer, store, and process that data.
ConductAtlas has identified this type of provision across 281 platforms. See the full comparison.
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