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 terms clarify FDIC insurance protections for Acorns Checking depositors. The prior disclosure stated that Acorns Checking itself is not FDIC-insured; the updated language states that balances held with Lincoln Savings Bank or nbkc bank, including those in Acorns Checking accounts, are insured up to $250,000 per depositor through these member banks, with separate coverage for joint account owners. The updated terms preserve the disclosure that funds may be placed at other FDIC-insured depository institutions through a deposit network service. The revised ATM language specifies access to 'over 55,000 fee-free ATMs' rather than a general reference to the AllPoint Network.
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If you believe we have taken action against your content or account in a way that does not comply with these Terms, you have the right to bring a claim for breach of contract under UK law.
These Terms and the licenses granted hereunder may be assigned by the Company but may not be assigned by you without the prior express written consent of the Company.
"If any part of these Terms of Use is determined to be invalid or unenforceable...then the invalid or unenforceable provision will be deemed superseded by a valid, enforceable provision that most closely matches the intent of the original provision...Excerpt from Acorns's Terms of Service
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The clause states: “If any part of these Terms of Use is determined to be invalid or unenforceable...then the invalid or unenforceable provision will be deemed superseded by a valid, enforceable provision that most closely matches the intent of the original provision...”
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