How to Close an Acorns Account: Highlights
• There are several ways to close an Acorns account.
• To stop being charged a monthly fee, the Acorns subscription must also be canceled.
• You can close an account and cancel a subscription on the Acorns website or app.
Acorns provides both checking and investing accounts. The steps to close an account will depend on the account type and your own financial situation.
Free Method to Close an Acorns Account
To close a robo or checking account at Acorns for free, log in on the website or mobile app and go to the account closure link. On the website, go to the dashboard and click on Profile & Settings at the bottom-left. This will bring up a page with various settings. Under Personal Settings, there is a link called My Subscription.
Click on this link to see a list of all accounts you have at Acorns. Each open account will have a green Active button next to it. Click this button to see a drop-down menu, then select the option to close the account. Follow the on-screen steps to finish closing the account.
If you are closing a securities account (a robo account), Acorns will sell everything in the account and send the cash balance to your linked external bank account. Remember, selling investments or taking out money can lead to a Form 1099 for taxes, depending on your account and what happened.
You can also use the Acorns mobile app to close an account. Open the app and go to the settings menu (the head and shoulders icon in the upper-left). Tap on Settings. On the next screen, tap My Subscription. Find the account you want to close and tap the green Active button. Follow the instructions on the screen to close the account.
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How to Cancel Acorns Subscription
Closing an account at Acorns only closes the account. It does not stop the monthly subscription, which has a fee. To avoid the fee, you also need to cancel the subscription. Go back to the list of accounts on the website or app and scroll to the section for managing subscriptions. Here, you’ll find a link to cancel the subscription.
Best Free Alternatives
Read detailed Robinhood vs Charles Schwab comparison.
Other Acorns Closing Methods
In addition to the main method above, there are two other ways to close an account:
Closing with a Full Transfer:
You can move an Acorns securities account to another investment company. Doing this will close the Acorns account. However, the account will now be with the new company, so this isn’t an option if you want to sell everything and take out the cash.
The benefit of closing by transfer is that the ETF shares do not have to be sold. However, fractional shares will be sold for cash, and this cash will be sent to your linked bank account. This is still a withdrawal and can have tax effects in some situations.
Note: Acorns requires a full transfer, not a partial one, to close the account.
Internal Transfer:
If you have two accounts with the same tax setup (for example, two Roth IRAs), and want to close one, you can do an internal transfer. This moves everything from one account into the other. The outgoing account will then be closed by Acorns. To do this, contact Acorns for help.
Fees for Transferring or Closing an Acorns Account
Closing an Acorns account using an internal transfer or the close button does not cost anything. If you transfer your account to another investment company, Acorns charges $35 per ETF. If your account has five ETFs, the total would be $175. Charles Schwab will
reimburse up to $100 of the transfer fee
if your transfer is at least $10,000.
Updated on 5/21/2025.
Chad Morris is a financial writer with more than 20 years experience
as both an English teacher and an avid trader. When he isn’t writing
expert content for Brokerage-Review.com, Chad can usually be found
managing his portfolio or building a new home computer.
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