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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To the extent that any provisions in the Business Terms of Service conflict with these Terms, the Business Terms of Service shall govern to the extent of the conflict.
Regardless of who terminates these Terms, both you and Snap continue to be bound by Sections 2, 3 (to the extent any additional terms and conditions would, by their terms, survive), and 6 - 25 of the Terms.
"If you join any Wait List, you acknowledge and agree that joining such Wait List does not and will not make you our client (or a customer of any of our affiliates), obligate us to provide you any services, or create any other legal or regulatory duty on our part...Excerpt from Acorns's Terms of Service
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The clause states: “If you join any Wait List, you acknowledge and agree that joining such Wait List does not and will not make you our client (or a customer of any of our affiliates), obligate us to provide you any services, or create any other legal or regulatory duty on our part...”
ConductAtlas has identified this type of provision across 298 platforms. See the full comparison.
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