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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:12/05/2024

    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.
    I had investments set up with Acorns including automatic withdrawals and one-time investments. I needed to pull my money out of my account to put money down on a new rental propterty and the day after I made this withdraw from my Acorns into my linked bank account ********************** locked my account. I called support and the first support agent needed me to go to the app to accept a push notification that never appeared. She then said in order for me to gain access to my account (that is still taking money out for automatic withdrawals btw) I needed to send a picture of my face, my ID, or any other goverment issued ID and a bank statement in PDF form. Then would not connect me with her supervisor and laughed at me on the phone. I then called a second time and I was connected to someone who was able to connect me to their supervisor who insisted on the same information. I only wanted them to complete the transfer request using the already existing linked bank account but it seems when you try to take your money back they give you a bunch of problems. I do not reccomend this company to people who value customer service. I have put in a request to close the account.

  • Initial Complaint

    Date:11/07/2024

    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.
    In the beginning of September, Acorns closed my checking account for "unknown reasons". There was over $1200 in the account which was not returned to me. When I called, they said they would send a check. It is now well into November, and they have not sent a check. Instead, they continuously ask me what address to send it to. No matter how many times I tell them, they still won't send the check. It is awful and wrong for a bank or any institution to do such a thing. They should be shut down if they are going to blatantly steal from customers like this.

  • Initial Complaint

    Date:10/02/2024

    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.
    I emailed them for information on how to transfer my money to a different brokerage because they don't communicate with other brokerages to make a simple transfer easy. Two emails have been ignored. 9/17/24 and 9/23/24.

  • Initial Complaint

    Date:09/24/2024

    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.
    The company is being unreasonably difficult with regard to letting me do an asset transfer to another brokerage. They are running me in circles when any other brokerage would have been able to process my request within a few days. Acorns has taken around 3 weeks and has required 10+ chat sessions and email threads and has been overall just totally unhelpful.

  • Initial Complaint

    Date:09/04/2024

    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 have been locked out of my Acorns account and do not have access to the funds in my account. I have tried to contact Acorns by telephone, seeking to unlock my account and gain access to my funds on several dates:1/29/24,1/31/24,2/2/24,4/5/24,8/15/24,8/30/24,9/4/24 I am continuously being told that it has been escalated and that a team is working on it. On each date, Ive been told I should receive an email in 3-6 business days, but have never received any emails with information about how to unlock my account or gain access to my funds. Several times, I have requested to speak to a supervisor, but was told I cannot. Today (9/4) I was told I would be connected, was placed on hold, was told a supervisor could not be reached and that one would contact me. No one has contacted me. I seek to gain access to my account and the funds in said account.

  • Initial Complaint

    Date:07/09/2024

    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 June 30 I withdrew $3000 from my money market Acorns account to be deposited in my Acorns checking account. My account was frozen. I called to ask to unfreeze. The had me send a photo of myself with my drivers license and a PDF of my CITI checking account. I was told the account would be unfrozen. It was not. I have called every day and spoken to three supervisors all claiming I have complied and they have the documents needed to unfreeze my account. They will still not unfreeze my accounts. This is my only checking account. I am unable to pay my bills. I have exhausted all ways of working this out.I just want my accounts unfrozen.

  • Initial Complaint

    Date:07/05/2024

    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.
    I currently have about $23,000 invested with Acorns. Their investment model works in that you can choose a risk profile and they will put your money into holdings aligned with that profile. In my case I have chosen the "Aggressive" risk profile and Acorns has put my money into 4 different holdings.My issue arose when I wanted to transfer all of my holdings with Acorns to another brokerage. Acorns has informed me that there is a $35 transfer fee for each holding if I want to proceed; so they want to charge me a total $140 to make the transfer. What I take issue with is that there is no subscription level that would ever let you specifically select where your base holdings would be placed. You can add more holdings at higher subscription levels but you can never get rid of the original holdings that Acorns has determined. Their program agreement does say that they will charge $35 per holding for these types of transfers. However, the agreement also says that Acorns can place your money into as many holdings as they deem fit. This seems to me to be an inherent conflict of interest in their policy as they essentially have the power to split my investments in a way that transferring out could be a net negative. I would be fine paying just a single $35 transfer fee for all of my holdings. However, paying $140 for holding distinctions that I have absolutely no control over seems akin to racketeering.

  • Initial Complaint

    Date:06/18/2024

    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.
    *raudulent transaction via ACH transfer on 6/17/24 in the amount of ****** to Acorns investing. Just my wife and I and we do not have an account, plus we both were at work yesterday. I am a 22 year law enforcement officer and called *****'s. Zero help, other than telling me, "it happens" and there was not an account in my name. Thanks, I already knew that!*iled an iC3 complaint and contacting bank first thing in the morning. I see the * rating already and read multiple articles this is going on with this company. Ridiculous!

  • Initial Complaint

    Date:04/26/2024

    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.
    I havent used my Acorns account in about a year and a half. I tried to log into my account and was denied access. Contacted customer support and have gotten no where. When I finally was able to get in, I tried to close the account, to no avail, I had answered all questions asked of the Acorns representatives and sent in every request from a selfie, Drivers license number, social security number, Date of Birth and ***** ********** statement. All of this information was being sent to *****!! Base of Acorns customer service. Ill have to close and reopen a new account, due to the fact all my personal information is the hands of people not in *****************. Acorns will not corporate with me and just release my money. I had contacted my personal attorney who says their hands are tied due to the contract agreement and they cant file a class action lawsuit. They stated its best to contact the Arizona ************************ and the SEC and allow them to investigate and prosecute, along with filing a lawsuit. I dont see any resolution to this matter. Acorns needs to refund my money and close the account. Basically ********************** is not complying with any financial rules or securities rules. I have been patient and complied with all their requests.

  • Initial Complaint

    Date:04/15/2024

    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.
    During the promotional period of 02/18/2024-02/24/2024, Acorns Securities offered a special referral bonus by which any member who referred 5 friends successfully would receive a $1,300 bonus deposited into their Acorns account. Upon successfully completing these steps, I was told that I would have the above amount deposited into my Acorns account no later than April 9th (as that was exactly 30 days after the last day my referees had to make a successful investment, as outlined in the requirements). When that day came and went with no deposit nor contact, I requested a status update where I was told by customer service representative, ********, that all of my referees had completed the necessary ********** would be submitting a request to have my deposit approved by his team. Although he stated on the phone that I 100% would receive my bonus, the words "as long as it's approved" raised concern, so even after having him send documentation of our call (documented below), I decided to call back the following day, On 04/12/2024, I then spoke with ****************, who stated as well that I will definitely be receiving the intended money deposit given that all my friends had successfully completed the mandatory process, but due to a technical issue on their end, mine must have been overlooked. She assured me that I would be getting my deposit this week. That being said, in her documentation e-mail to me, she expressed similar verbiage to *****'s regarding "once it is approved." Neither of these times was any sort of "if" expressed on the phone, but I have received no contact from said "team" or what is being done, if anything, to actually expedite the transferral of funds from Acorns to my account now that days have passed with zero answers or accountability. I would simply like this company to fulfill their obligation & have it show up in my account ASAP so that all the ************* my *********** have spent is worth the hassle it's been. Thank you in advance,

Acorns Securities LLC is NOT a BBB Accredited Business.

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