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Business Profile

Investment Management

Acorns Securities LLC

This business is NOT BBB Accredited.

Find BBB Accredited Businesses in Investment Management.

Complaints

Customer Complaints Summary

  • 112 total complaints in the last 3 years.
  • 30 complaints closed in the last 12 months.

If you've experienced an issue

Submit a Complaint

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

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Complaint status

Complaint type

  • Initial Complaint

    Date:02/24/2025

    Type:Billing Issues
    Status:
    Unanswered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    I had an investment account with this company they locked up my account said they wanted me to send a picture of my ID and I sent that and my social security card and they still haven't unlocked it now they want me to take a picture with my ID ******** put it on my face I'm not doing all that I just want my money back that I put in the investment account and that's it

  • Initial Complaint

    Date:02/22/2025

    Type:Service or Repair Issues
    Status:
    Unanswered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    I referred several people (about 15) to Acorns. I have not gotten any of the referral rewards (about $3000). Upon investigation, multiple phone calls to Acorns, hours on the phone, I finally got an answer. There is hidden fine print that says an investment may take up to five days to settle. The referral person has a deadline that they must invest by or they do not count. However, since it takes up to five days to settle, they must invest at least 5 days before the deadline. Also, if the investment was made on a weekend, it wont begin processing til Monday which increases the settling time even longer. Acorns originally told me that a minority of referrals were in good standing, and even gave me a date when the first referral reward would deposit. I never got the reward. So that led me to call them back. After more phone calls, more confusion, and contradiction, the last agent investigated for me and seemed to genuinely try to help me. At the end of the call, she seemed disgusted with Acorns and the underhandedness they showed by having this fine print stipulation that is hidden. She encouraged me to have all my referrals cancel their subscriptions as well as mine. She said she could probably get in trouble for telling me that, but she totally understood how they had tricked me.

  • Initial Complaint

    Date:02/21/2025

    Type:Service or Repair Issues
    Status:
    Unanswered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    I cancelled my Acorns account in January 2022. I have e-mail customer service multiple times but they are still charging me $3 EVERY month and it's been two years. No matter how many times I reach out to have it resolved, they still charge me. They've stolen so much money and this is not the first time they've done this to people.

  • Initial Complaint

    Date:02/19/2025

    Type:Billing Issues
    Status:
    Unanswered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    I am stuck at a huge inconvenience with you all. My account was locked with no communication of it happening, why, or how to resolve. I logged into my account today where it told me to refer to an email to upload necessary documentation. I called customer service because as I have mentioned, I have not received any email or correspondence regarding the issue. I was told on the phone my account was locked in 2021 and thats not possible because I have been using it for quite some time now for my payroll from job. Today I am suppose to get paid and unable to pay my bills or feed myself as I am pregnant and very hungry. I am very frustrated with the assistance I have received and planning on closing my account with ********************** as soon as this is resolved. Ive called in a couple of times where I was told the first time couldnt see why so would put in an escalation request. The second time I called the *** told me my account had been locked since 2021 and I had to get navy federal on the line to verify ownership of account. The last time I called he said my account was never locked and there is no suspicious activity on the account that would have prompted and he was going to escalate. Again I am pregnant and have my toddler and we are hungry. Not one email has been sent by acorns in regard to the matter and no update of when this will be solved.

  • Initial Complaint

    Date:02/04/2025

    Type:Billing Issues
    Status:
    Unanswered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    I signed up for Acorns service to build my investments. So far they have deducted a total of 8 five dollar amounts from my bank, yet they claim they have only invested $15. I turned off automatic investments immediately after signing up, and yet they're making withdrawals from my bank regularly. They even report that NO investments have been made in the last 30 days, even though my bank shows they've withdrawn $5 eight different times in the last 30 days.

  • Initial Complaint

    Date:01/31/2025

    Type:Billing Issues
    Status:
    Unanswered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    On January 14, 2025, an unauthorized withdrawal of $14,000 was made from my Acorns account. Following this incident, Acorns locked my account and requested that I participate in a three-way call with the fraudulent company involved. I am concerned that this requirement may be inappropriate and potentially unlawful.Under the *************** Transfer Act (****), consumers are protected against unauthorized electronic fund transfers. Regulation E, which implements the ***** outlines procedures for resolving errors and limits consumer liability for unauthorized transactions. Specifically, 12 CFR ****** states that a consumers liability for unauthorized electronic fund transfers is limited, provided the financial institution has been notified promptly. ?Furthermore, the **** mandates that financial institutions must investigate and resolve errors reported by consumers. Requiring a consumer to engage directly with a fraudulent entity as part of this process may not align with the protections intended by the ****. According to the ************************************ (****), the **** provides important safeguards when consumers experience unauthorized withdrawals, emphasizing the responsibility of financial institutions to address such issues. ?Given these protections, I believe that Acorns request for a three-way call with the fraudulent company is not appropriate and may contravene consumer protection laws. I respectfully request that Acorns proceed with the investigation and resolution of this unauthorized transaction in accordance with the **** and Regulation E, without requiring direct interaction with the fraudulent party.

  • Initial Complaint

    Date:01/23/2025

    Type:Billing Issues
    Status:
    Unanswered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    On July 20, 2022, I opened an Acorns investment account and deposited $100. On August 5, 2022, I received an email requesting that I provide personal information and identification by September 4, 2022, with a notice that failure to do so would result in account closure. Due to personal commitments and relocation, I missed this communication and assumed the account would be closed after the deadline. However, the account remained active, and automatic investments continued without my consent. Additionally, the account was suspended, yet monthly fees were still deducted. As of now, the account is still active, and fees continue to be charged. I wish to have the account closed and my initial $100 deposit refunded, as per the August 5, 2022, email.

  • Initial Complaint

    Date:12/19/2024

    Type:Sales and Advertising Issues
    Status:
    Unanswered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    I had an investment account open that had accumulated $118, then I decided to close the account. My bank account has been connected to the Acorns app and they have been successfully withdrawing funds monthly from that account in accordance with my investment plan. However, when I closed my account and requested all the funds be returned to my bank account, suddenly there is an issue with my account information and the money is unable to be returned to me. They send me emails under the guise of "we want to get your money back to you!" except they ignore all my replies. When I spoke with my bank, *****, they also said they get MANY calls from people trying to get their money back from Acorns, so this is clearly a common trick they pull.

  • Initial Complaint

    Date:12/11/2024

    Type:Product Issues
    Status:
    Unanswered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    On October 23rd I initiated a withdrawal of $1100. I never received it not was it returned yo my acorn account. Your system claimed I received the withdrawal on October 28th. I didnt. I submitted multiple times my bank statement for the time frame in question which proves. I never record THE OCTOBER WITHDRAWAL. Now November ***** around. I boated a separated withdrawal of $1100 on November 24th. That one I did receive. So to simplify it. OCTOBER WITHDRAWL NEVER RECEIVED, NOVEMBER WITHDRAWL RECEIVED.

  • Initial Complaint

    Date:12/11/2024

    Type:Service or Repair Issues
    Status:
    Unanswered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    Like many others that have left reviews, my account was closed with no explanation other than review of a possible security threat. 6 days ago I was told it would take 1-3 days for the review to be completed. 3 days ago I called and again told it would be 1-3 days to complete the review. Meanwhile my fund have been locked and account closed and no access to my money and still no explanations or insight whatsoever as to the status of my account or why its even under review.

Acorns Securities LLC is NOT a BBB Accredited Business.

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