Do I need to withdraw my money before canceling Acorns?

Yes. You must withdraw all funds from your Acorns Invest, Later (IRA), and Early Invest accounts before you can close them and cancel your subscription. The withdrawal process can take 3-6 business days.

Will I be charged taxes if I withdraw from Acorns?

Withdrawing from your Acorns Invest account may trigger capital gains taxes if your investments gained value. Withdrawing from Acorns Later (IRA) before age 59.5 may incur early withdrawal penalties and taxes. Consult a tax professional for your specific situation.

How long does it take to close an Acorns account?

The account closure process itself takes a few minutes, but the fund withdrawal can take 3-6 business days. You need to wait for all funds to be transferred to your bank before the accounts can be fully closed.

Will I get a refund on my Acorns subscription?

Acorns does not typically offer refunds for subscription fees already charged. Once you cancel, billing stops at the end of the current billing period.

Last verified: February 2026

How to Cancel Your
Acorns Subscription

Cancel your Acorns subscription in about 10 minutes. Important: you must withdraw all funds and close your investment accounts before you can cancel.

Quick Overview

Difficulty

Hard

Time

~10 minutes + wait

Method

App only

Refund

No fee refunds

Important: Tax Implications

Closing your Acorns investment account involves selling your investments, which may trigger capital gains or losses for tax purposes. If you have an Acorns Later (IRA) account, early withdrawal before age 59.5 may incur a 10% penalty plus income tax. Consider consulting a tax professional before proceeding.

Cancel Acorns via the App

Open the Acorns app

Open the Acorns app on your iPhone or Android device and make sure you are signed in. Acorns account management is primarily done through the mobile app, not the website.

Withdraw all funds from your accounts

You must withdraw all money before closing. For each account (Invest, Later, Early Invest, Checking), initiate a full withdrawal to your linked bank account. Go to each account, tap Withdraw, select the full balance, and confirm. Withdrawals typically take 3-6 business days to reach your bank.

Wait for withdrawals to complete

You need to wait until all pending withdrawals have fully processed and your account balances show $0.00. You cannot close accounts with pending transactions. Check back in a few business days if the withdrawals are still processing.

Go to Settings and close each account

Once balances are at zero, go to the Settings section (tap the profile icon, then Settings). Look for each account listed under your subscription. Tap on each account and find the Close Account option. Close each account individually (Invest, Later, Early Invest, Checking).

Cancel your subscription

After closing all accounts, go back to Settings and look for Subscription or Cancel Subscription. Tap it and follow the prompts. Acorns may offer discounts or try to retain you. Decline these offers and confirm your cancellation. You will receive a confirmation email.

Subscribed Through Apple or Google?

Even if you subscribed through Apple or Google, you still need to close your investment accounts through the Acorns app first. Then cancel billing through the platform that charges you.

Cancel via iPhone / iPad

1. Open Settings on your iPhone
2. Tap your name at the top (Apple Account)
3. Tap Subscriptions
4. Tap Acorns in the list
5. Tap Cancel Subscription and confirm

Cancel via Android

1. Open the Google Play Store app
2. Tap your profile icon (top right)
3. Tap Payments & subscriptions
4. Tap Subscriptions then Acorns
5. Tap Cancel subscription and confirm

What Happens After You Cancel Acorns?

Your investments are liquidated and returned

When you close your Acorns Invest account, your portfolio is sold and the cash is sent to your linked bank account. This process takes 3-6 business days. You will receive your remaining balance minus any applicable fees.

You will receive tax documents

Acorns will send you a 1099 tax form for the year you closed your account, reporting any capital gains or losses. If you had an IRA, you will also receive a 1099-R. Keep these for your tax records.

Round-Ups and recurring investments stop

All Round-Ups (spare change investing), recurring investments, and any referral bonuses or rewards in progress will be stopped immediately upon cancellation. Found Money rewards from linked cards will also cease.

Acorns Checking (debit card) is deactivated

If you have an Acorns Checking account, your debit card will be deactivated and direct deposits will stop processing. Make sure to update any direct deposits or automatic payments linked to your Acorns debit card before canceling.

Frequently Asked Questions

How much does Acorns cost?

Acorns offers several tiers: Bronze at $3/month (Invest account), Silver at $6/month (adds Later IRA and Checking), and Gold at $12/month (adds Early Invest for kids and premium features). Students with a .edu email may qualify for discounted pricing.

Do I have to withdraw money before canceling?

Yes. You must withdraw all funds from every Acorns account (Invest, Later, Early Invest, Checking) and wait for the withdrawals to fully process before you can close the accounts. Once all accounts show a zero balance, you can proceed with cancellation.

Will I owe taxes when I cancel Acorns?

Possibly. Selling investments in your Acorns Invest account may result in capital gains (or losses) that are reported to the IRS. If you withdraw from your Acorns Later (IRA) account before age 59.5, you may face a 10% early withdrawal penalty plus income taxes on the amount. Consult a tax professional for personalized advice.

Can I transfer my IRA to another provider instead of withdrawing?

Yes. Instead of withdrawing your Acorns Later (IRA) funds and paying penalties, you can initiate a rollover to another IRA provider. Contact the new provider to start an IRA transfer or rollover. This avoids early withdrawal penalties and taxes.

Can I reopen my Acorns account later?

Yes. You can download the Acorns app and sign up again at any time. However, your previous investment history and portfolio will not be restored. You will start fresh with a new portfolio and new investments.

Related Cancellation Guides

Cancel Robinhood Gold

Medium · 5 min

Cancel Monarch Money

Easy · 3 min

Cancel YNAB