The Acorns Android app finally arrives on Google Play
An interesting app has recently touched down in the Play Store, and it’s called Acorns. The Acorns Anroid apps is an investment app that can turn your couch cushion savings into a diversified portfolio with a few clicks, and it’s already generated quite a bit of buzz in its short time on iOS.
The Acorns Android app is an automated portfolio management tool that takes your spare change and puts it to good use through investments. You can’t pick and choose what to invest in, but you can decide how much of a risk you want to take with your portfolio. The whole thing is automated, and the fee’s ($1 per month, .25% – .5%) are minimal compared to other services of a similar nature.
As mentioned, Acorns claim to fame is putting your spare change to good use. The way it accomplishes this is ingenious as it “rounds” up your purchases uses that extra cash to invest. If you hit up Starbucks for $8.42, the Acorn Android app will round it up to $9.00, and it will do that on every purchase you make on every card or bank account you register.
As cool as the Acorn app is, there are two things you’ll want to keep in mind aside from the fee’s. Â The Acorns Android app won’t round those amounts up on the actual card, instead it pulls that “extra change” from the banking account you specify. The app linked to a true investment service as well, so you will have to turn over some sensitive info like your SSN if you want to take advantage of Acorns.
The Acorns Android app is ready to go, but there have been some early reports of issues with the app. Most involve users getting approved, but customer service appears to be responding to all inquiries so that’s a good sign. If you’re intrigued you can read up on the official site for more information. If you want to give it a whirl, Acorns for Android is free to download on Google Play.