Acorns Grow Inc

*** *** called the Support Team on 7/13/Ms*** told a Support Member that funds came out of the bank account she linked, when she believed that funds should not have been transferred from her bank account to her Acorns accountThe withdrawal resulted in her bank account being overdrawn
and her bank charging her an insufficient funds feeThe Support person let Ms*** know that if there was a problem with the App, then Acorns would reimburse her for the feeAfter the Team member confirmed the identity of Ms***, he asked her for the transaction into her Acorns account that caused the issueMs*** referred to her most recent round up deposit into her Acorns accountAfter the Team Member reviewed Ms***’s activity, he saw that the funds that transferred to her Acorns account was a roundup amount and there was nothing wrong with the AppIt appears that Ms*** misunderstood the roundups process and may not have added them to her check registerIn regards to roundup activity, the client links a funding source and credit/debit accountsWhen a client uses their credit or debit card(s) on a purchase, the difference between the final cost of the purchase and the next dollar is tracked by Acorns and that is called a "roundup"When the accumulated "roundups" reach or surpass $5.00, that amount is debited from the client's bank account and invested into their Acorns account, into the portfolio the client has chosenIn order to set up the roundup, the client has to manually link his/her credit/debit accounts, giving Acorns the authority to transfer the roundup amount(s) from the client's bank account to their Acorns investment accountWhen the most recent roundup processed, the client claimed that her bank charged her an insufficient funds fee. The Team Member referred Ms*** back to her bank regarding a fee reversal, since the bank is the one that charged Ms***Ms*** then told the Team Member that she would like her account closed and her money to be transferred back to her bank accountThe Team Member asked Ms*** if she could verify her bank account with two small depositsAt the time, Ms*** was unable to verify the amountsThe Team Member emailed Ms*** the directions on how to close her Acorns accountThe Team Member asked if there was anything else he could do for her and Ms*** said noThe Team Member told Ms*** to have a good day and Ms*** responded with “you too”Ms*** verified her bank account with a reply to the Team Member’s emailMs***’s comment “it was stated that deductions will not exceed my balance” is incorrectCurrently, there is no language on the Acorns website that speaks to deductions and the client’s bank account balancefunds feeMs*** received her account balance of $on 7/20/The amount of $listed on this Revdex.com complaint by Ms*** has not been submitted to AcornsHowever, if Ms*** will submit documentation to Acorns, verifying that he insufficient funds fee was a result of her investment into her Acorns account, Acorns would reimburse her the fee

*** *** called the Support Team on 7/13/Ms*** told a Support Member that funds came out of the bank account she linked, when she believed that funds should not have been transferred from her bank account to her Acorns accountThe withdrawal resulted in her bank account being
overdrawn and her bank charging her an insufficient funds feeThe Support person let Ms*** know that if there was a problem with the App, then Acorns would reimburse her for the feeAfter the Team member confirmed the identity of Ms***, he asked her for the transaction into her Acorns account that caused the issueMs*** referred to her most recent round up deposit into her Acorns accountAfter the Team Member reviewed Ms***’s activity, he saw that the funds that transferred to her Acorns account was a roundup amount and there was nothing wrong with the AppIt appears that Ms*** misunderstood the roundups process and may not have added them to her check registerIn regards to roundup activity, the client links a funding source and credit/debit accountsWhen a client uses their credit or debit card(s) on a purchase, the difference between the final cost of the purchase and the next dollar is tracked by Acorns and that is called a "roundup"When the accumulated "roundups" reach or surpass $5.00, that amount is debited from the client's bank account and invested into their Acorns account, into the portfolio the client has chosenIn order to set up the roundup, the client has to manually link his/her credit/debit accounts, giving Acorns the authority to transfer the roundup amount(s) from the client's bank account to their Acorns investment accountWhen the most recent roundup processed, the client claimed that her bank charged her an insufficient funds fee. The Team Member referred Ms*** back to her bank regarding a fee reversal, since the bank is the one that charged Ms***Ms*** then told the Team Member that she would like her account closed and her money to be transferred back to her bank accountThe Team Member asked Ms*** if she could verify her bank account with two small depositsAt the time, Ms*** was unable to verify the amountsThe Team Member emailed Ms*** the directions on how to close her Acorns accountThe Team Member asked if there was anything else he could do for her and Ms*** said noThe Team Member told Ms*** to have a good day and Ms*** responded with “you too”Ms*** verified her bank account with a reply to the Team Member’s emailMs***’s comment “it was stated that deductions will not exceed my balance” is incorrectCurrently, there is no language on the Acorns website that speaks to deductions and the client’s bank account balancefunds feeMs*** received her account balance of $on 7/20/The amount of $listed on this Revdex.com complaint by Ms*** has not been submitted to AcornsHowever, if Ms*** will submit documentation to Acorns, verifying that he insufficient funds fee was a result of her investment into her Acorns account, Acorns would reimburse her the fee

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution would be satisfactory to me.  I will wait for the business to perform this action and, if it does, will consider this complaint resolved.
Please provide more information as to where my documents may be sent to receive my refund. You did not include a fax number or mailing address.
Regards,
[redacted]

[redacted] opened an Acorns account and it was approved on 4/20/16. It appears that the client misunderstood the roundups process and did not add them to her check register. The client links a funding source and credit/debit accounts. When a client uses their credit or debit card(s) on a purchase,...

the difference between the final cost of the purchase and the next dollar is tracked by Acorns and that is called a "roundup". When the accumulated "roundups" reach or surpass $5.00, that amount is transferred from the client's bank account and invested in their Acorns account, into the portfolio the client has chosen. In order to set up the roundup, the client has to manually link his/her credit/debit accounts, giving Acorns the ability to transfer the roundup amount(s) from the client's bank account to their Acorns investment account. When the roundups processed, the client claimed that her bank charged her a fee, presumably an insufficient funds fee. However, the two deposits of $5.91 on 6/3 and $7.00 on 6/24 processed completely and there has been no indication the client was assessed an insufficient funds fee from her bank for her deposits into her Acorns account. The client was upset but only posted an in-app review on 6/28/16, "You guys continue to take money out of my account I have been charged a fee for 6 dollars you are not authorized to take anything unless I set it up I will be going to the Revdex.com I want my bank fee back as well as the money you took out! A", rather than contacting the Acorns Support team and asking for a fee reimbursement. The in-app review was responded to with emails giving the client instructions on how to close her account and unlink her roundup account(s). Acorns facilitates the client's instructions, by the client linking her bank and credit/debit accounts to her Acorns account. Funds are not debited from a bank account without the consent of the client. On 6/29/16, the client's account was closed. The client received the funds she invested into her Acorns account. The client invested a total of $12.91 and a total of $12.96 was transferred back to her bank account. The client has not followed up with Acorns. The amount of $25 listed on this Revdex.com complaint by Ms. [redacted] has not been submitted to Acorns. If Ms. [redacted] would submit confirmation that she received an insufficient funds fee from her bank as a result of her Acorns investments, Acorns would reimburse the client that amount.

Please provide more information as to where my documents may be sent to receive my refund. You did not include a fax number or mailing address.

p.p1 {margin: 0.0px 0.0px 0.0px 0.0px; font: 14.0px Helvetica} span.s1 {font-kerning: none} The Revdex.com,   This is in response to consumer complaint #[redacted]). Ms. [redacted] emailed Acorns on 5/23/17, inquiring about a $29 charge against her in her USAA bank account...

that was connected to her Acorns account. Ms [redacted] submitted a screenshot of the charge. The Acorns rep explained to Ms. [redacted] that the amount was a result of an insufficient funds fee (which is listed as such in the screenshot) that her bank, USAA charged her and that the fee did not come from Acorns. Ms. [redacted] linked her USAA checking account for her roundup feature. The Acorns system keeps track of the client’s spending and rounds up the change from each transaction. When the change reaches $5.00, then that amount is automatically debited from the client’s bank account and transferred into the client’s Acorns investment account. On 5/18/17, an amount of $6.46 was transferred from Ms. [redacted]’s checking account, however, there were not sufficient funds in her bank account and USAA assessed a fee of $29 against Ms. [redacted]'s bank account. Ms. [redacted] requested a refund of the fee, however, the Acorns rep explained to her that since Acorns did not assess the fee, Acorns is not able to refund it. The Acorns rep offered to conduct a conference call with Ms. [redacted] and USAA to help resolve the issue and ask that USAA rescind the fee. However, the client has not responded to Acorns offer. Acorns is still offering to assist Ms. [redacted] in speaking with USAA and resolve the issue.

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution would be satisfactory to me.  I will wait for the business to perform this action and, if it does, will consider this complaint resolved.Please provide more information as to where my documents may be sent to receive my refund. You did not include a fax number or mailing address.
Regards,
[redacted]

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this proposed action would not resolve my complaint.  For your reference, details of the offer I reviewed appear below.
[I have provided screenshots of the $29.00 taken from my account which shows that Acorns, not my bank USAA overdrafted me. There was $6.98 in funds at the time the $29 was removed which was enough for the automatic investment.]
Regards,
[redacted]