Acorns
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Acorns
Security
Protecting your information and money is our priority
When you use Acorns, you’re trusting us with your money, and we take that responsibility seriously. We use a variety of security tools to help keep your information safe, whether you’re investing through Acorns.com or the Acorns app.
Your privacy is important to us
We don’t sell your personal information to, or share it with, unaffiliated third-parties for their own advertising or marketing purposes. Check out our Privacy Policy for more information.
A culture of security & privacy
We take rigorous steps to ensure our employees know and adhere to our security and privacy policies. We foster a culture of security, and empower employees to be security-aware and on the lookout for security fraud and threats.
Always up to industry standards
Our financial platform’s technical controls (measures taken to protect systems and data) are assessed by a third-party to validate SOC 2 compliance. That means we meet rigorous industry standards for protecting customers’ information.
Regular security audits
Our internal controls are audited by a “Big 4” accounting firm, and our systems go through continuous security testing to ensure we’re always up-to-date on ways to protect you and your information.
Multi-factor authentication
We use multi-factor authentication to help make sure you’re the only person allowed to access your account. That means we verify your identity during login through a security code we send directly to you.
Role Based Access
Employee access to Acorns’ internal systems is enforced through Role Based Access and multi-factor authentication, meaning only employees who absolutely need access to those systems are given it.
Your data is encrypted
We go the extra mile when it comes to safe-keeping your personal information. We use 256-bit or higher encryption at all times to protect your data.
We always keep a lookout
Our Security Operations team monitors for suspicious activity 24/7. We also monitor our own layered, security defenses to help protect your data from potential threats.
Proactive communication
We’ll alert you ASAP if we detect any suspicious activity on your account. We’ll also regularly update you on any fake Acorns emails and customer support scams, as well as provide tips on how to protect yourself.
Frequently asked
What is two-factor authentication and why do I need it?
You may be using Two-Factor Authentication already for other services, like your email provider or digital file storage. As a first step, or “factor,” you log in to your account with your credentials. As the second security step, you receive a text message with a code, and enter the code to access your account.
If you enable Two-Factor Authentication for your Acorns accounts, it will only take effect if:
- You are logging in with your email address and password, not your PIN
- The login attempt is flagged as suspicious or you are logging in from a device we don’t recognize.
Your security is our top priority, so we’re always looking for ways to better protect your information. Two-Factor Authentication is a technology that can help keep your accounts and information secure, so we strongly recommend enabling it as an extra layer of security for your Acorns account designed to ensure that you are the only person who can access your account, even if someone knows your password.
To enable Two-Factor authentication on your Acorns account, follow our guide here.
How do I upload documents?
Your security is our primary concern, so we take every measure to verify that you are you and that any changes requested are authentic.
You can easily upload documents through our in-app secure uploader. Once we receive your documents, please allow 1-3 days for your documents to be reviewed.
How does Acorns protect my money?
Opening an Acorns account is opening an investment account; therefore your gains/losses are subject to tax laws. Because of this, and because Acorns is subject to regulatory oversight by FINRA, and the SEC, we are required to gather personal information from you in order to abide by the rules and regulations put forth by these organizations. We have to make sure that we are stringent with account approvals and comply with all regulations. We hope you understand.
Additionally, the Patriot Act requires all financial institutions to obtain, verify, and keep certain records that identify each person who opens an account. We also require your social security number in order to issue you a tax reporting form at the end of the year. As for security, here is some information on how we do everything we can to keep your data secure.
- Member of SIPC. Securities in your account are protected up to $500,000. For details please see www.sipc.org*.
- FDIC Protected Acorns Checking Account: Your deposits in your Acorns Checking account are insured up to $250,000 - that’s because our banking partners, Lincoln Savings Bank and nbkc bank are both FDIC members.
- Security: Your peace of mind is our highest priority. Acorns works to secure your information, prevent unauthorized account access, and to notify you of unusual activity.
- SSL Encryption: The website and app are secured with 256-bit encryption.
- Account Alerts: We will contact you about unusual account activity to help secure your account against fraud.
- Account Safeguards: Automatic logouts and ID verification to help prevent unauthorized access.
- Privacy: Acorns is committed to maintaining the confidentiality, integrity and security of any personal information about our users.
Your account security is our top priority at Acorns. If you see any transactions that you do not recognize, be sure to first check if there is an automatic transfer set up on your account. For more information regarding your recent account activity, please click here.
*SIPC does not protect against market risk, which is the risk inherent in a fluctuating market.
Does Acorns store my bank login information on their servers?
No. Acorns does not store your bank log in information.
For security, here is some information on how we do everything we can to protect your data:
- Security: Your peace of mind is our highest priority. Acorns works to protect your information, prevent unauthorized account access, and to notify you of unusual activity.
- SSL Encryption: The website and app are secured with 256-bit encryption.
Member of SIPC. Securities in your account are protected up to $500,000. For details please see www.sipc.org*. - Account Alerts: We will contact you about unusual account activity for protection against fraud.
- Account Safeguards: Multi-factor authentication, automatic log outs, and ID verification help prevent unauthorized access.
- Privacy: Acorns is committed to maintaining the confidentiality, integrity and security of any personal information about our users.
*SIPC does not protect against market risk, which is the risk inherent in a fluctuating market.
How else can I protect my Acorns account?
Here are some ways that may help protect your account:
- Always log out of your account after use. In fact, we automatically log you out of the app after periods of inactivity and require you to enter your passcode again to get back on
- Check your account(s) regularly so you can know if/when something is wrong
- Use a strong, difficult to guess password
- Set up two-factor authentication, which requires you to take an extra step to authenticate who you are
- Be careful where you access your account. Someone could be looking over your shoulder as you log in or a hacker may be able to gain access through public Wi-Fi connections
- Never share your banking information with anyone!
Where can I find Acorns’ Privacy Policy?
Acorns’ Privacy Policy can be found here.
How can I report a security vulnerability to Acorns?
If you found a security issue or vulnerability related to Acorns services, then we would like to hear from you. You may report it to bugbounty@acorns.com or through our vulnerability disclosure program here: https://bugcrowd.com/engagements/acorns
