Acorns Banking / High-Yield Checking Account and Emergency Fund

Acorns banking is a checking account, emergency savings, and debit card that saves, invests, and earns money for you.

  • No minimum balance or overdraft fees.
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Acorns Banking review quick take: A high-yield checking and emergency fund account that saves, invests, and earns for you.

What is Acorns Banking?

Acorns banking offers a checking account, emergency fund, and the Mighty Oak debit card, which introduces a new way of banking that saves and invests for you.

Acorns is not a bank. The Mighty Oak debit card and banking services are provided by nbkc bank, Member FDIC.

Get started with the Might Oak banking account.

How Acorns Banking Works

At the center of Acorns Banking is the debit card, which puts investing at the center of your money and takes advantage of the company’s well-known features, such as investing your spare change.

  • You must have an Acorns account to get banking services
  • Access to a checking account, emergency savings account, and debit card
  • No minimum balance is required, and no hidden fees
  • Tungsten metal card with laser engraved signature
  • Banking accounts are FDIC insured up to $250,000

Acorns Banking Review

Key Features

  • High APYs on checking and emergency fund
  • Early payday for direct deposit (up to 2 days early)
  • Access to over 55,000 fee-free ATMS through AllPoint Network
  • Mobile check deposit and digital checks and transfers
  • Split your paycheck and have a portion invested each time you get paid
  • Real-time round-ups to invest your spare change
  • Bonus investment reward when you make a purchase in over 15,000 brands


You must be subscribed to Personal Plus or above to access Mighty Oak banking.

  • Personal Plus: $5 per month.
  • Family: $9 per month.

Customers who set up direct deposit of at least $250 per calendar month into their Acorns Checking account will receive a subscription waiver as long as they meet eligibility requirements and have direct deposit set up.


  • Minimum balance: $0
  • Overdraft fees: $0
  • In-network ATM fees: $0

Pros and Cons


  • No account minimums
  • Automatic savings and investing feature
  • Early payday


  • No physical branch locations
  • Lack of personal and live customer service support

Who is it best for?

Acorns banking is best for current customers and users of the Acorns investing app. It’s also a good alternative for those who want an integrated checking, savings, and investing service.Acorns Banking Review Mighty Oak

Acorns Banking Review

Acorns banking is a legitimate service and not a scam. It offers an exciting Might Oak service that integrates checking, emergency savings, and debit cards with higher-than-average yields and competitive features.

In our Acorns banking review, we learned that the app has 4.7 out of 5 stars in the App Store and over 700k reviews. However, customers on Trustpilot have given it a poor rating of 2.4 out of 5, based on a little over 400 reviews.

What we like the most are the high APYs, savings and investing automation, and access to thousands of surcharge-free ATMs. That said, it’s important to understand that Acorns is not a bank.

How to Start with Acorns Banking

Minimum Requirements

  • Be 18+ years old 
  • A valid email address
  • Social Security Number
  • Must be a Personal Plus subscriber

Step-by-Step to Open an Acorns Banking Account

The time needed: 3 minutes.

  1. Getting started
  2. Enter email and password
    • Submit your personal information, set up a PIN access code, and log into your new account.

Acorns Banking Alternatives

Acorns banking alternatives include SoFi Bank, Stash Banking, and more.

Visit the marketplace to find more banking options.

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1 Review For This Product

  1. 01

    by Jason Vitug

    Acorns Spend Review: Is it worth it?

    Acorns banking is a great option for those already using Acorns to invest.

    During my Acorns Spend review, I learned the cost is well worth it when you use all the products together as it was created. There’s something about spending money that helps you save and invest too. It’s good for people who need a little help and may think they don’t have extra cash to start investing.

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