Update 11/25/21: Offer been sent out again.
Offer at a glance
- Maximum bonus amount:Â $75
- Availability:Â Nationwide
- Direct deposit required:Â Two direct deposits of $250+ required
- Additional requirements:Â None
- Hard/soft pull:Â Unknown
- ChexSystems: Unknown
- Credit card funding:Â Unknown
- Monthly fees:Â None
- Early account termination fee:Â Unknown
- Household limit:Â None
- Expiration date:Â September 30, 2021
Contents
The Offer
- Acorns is offering a bonus of $75 when you open a new Acorns checking account and complete the following requirements:
- Receive two direct deposits of $250+
The Fine Print
- Offer available for both new and existing Spend customers who have never setup a Direct Deposit.
- Two Direct Deposits of at least $250 each must be made into your Acorns Spend account to quality for this promotion.
- The qualifying Direct Deposits must be made by the individual’s employer, payroll provider, or benefits payer by Automated Clearing House (ACH) deposit. Bank ACH transfers, verification or trial deposits from financial institutions, peer to peer transfers from services such as PayPal, Cash App, or Venmo, mobile check deposits, and cash loads or deposits are not qualifying Direct Deposits.
- The $75 reward will be invested as a lump sum in the form of a purchase of investments in your Acorns Invest account within 45 days of receiving your second Direct Deposit to your Acorns Spend account.
- Your Acorns Invest account must be open, verified, and in good standing at the time of reward fulfillment, as well as the Spend account.
- This offer is only available to the email recipient and is not transferable.
- This offer will be valid for qualifying Direct Deposits received on or before September 30, 2021.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
This account has no monthly fees to worry about
Early Account Termination Fee
I wasn’t able to find a fee schedule so unsure if there is an early account termination fee.
Our Verdict
Previously this was a targeted bonus and only required one direct deposit. Usually we don’t post bank account bonuses under $100, but as this is nationwide we made an exception. Need to know if it’s a hard or soft pull before adding it to the best bank account bonuses.
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- What Banks & Credit Unions Do/Don’t Pull ChexSystems?
- How To Use Our Direct Deposit Page For Bank Bonuses Page
- Common Bank Bonus Misconceptions + Why You Should Give Them A Go
- How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
- Affiliate Links & Bank Bonuses – We Won’t Be Using Them
- Complete List Of Ways To Close Bank Accounts At Each Bank
- Banks That Allow/Don’t Allow Out Of State Checking Applications
- Bank Bonus Posting Times
Too bad this bonus isn’t churnable since you can’t open another checking account after closing your first one. Though, I recently received a targeted email offering me $15 to reopen my account with a minimum $5 investment. Subject line is “Restart your financial goals with a $15 bonus investment!” I was charged the $3 monthly fee once, and because the bonus posted in less than a month, I was able to withdraw from my account and close it without incurring any other fees, making this deal a $12 MM.
Update: bonus received without any problems! 🙂
As I posted in early April, I did the Swagbucks/Mypoints offer for the Investment account.
After that you’re automatically invited to open the banking account for this extra $75.
Used Schwab for DD’s and got a MO for spend.
So earned about $140 from Acorns without much work…
Might be a good deal to repost,
William Charles
recently took part in the Swagbucks offer https://www.doctorofcredit.com/swagbucks-signup-for-acorns-investing-and-get-23-50/ and got me an Investment account.
Then logging into Acorns, I saw the $75 bonus mentioned on the ‘Bank smarter’ account opening tab.
Clicked it and opened Checking and got a welcome email stating:
“Hi Investor, welcome to Acorns Checking! Simply set up and make two qualifying Direct Deposits of $250 or more. When you’ve spent at least $500 with your Acorns Checking account within 3 months of your first Direct Deposit, we’ll invest $75 into you!”
Just letting you know its currently available and can be stacked with the Swagbucks/MyPoints bonus, making it a nice moneymaker (63+75)… 🙂
Terms (from email):
“This offer is valid for new Acorns Checking customers only. This offer will be valid for customers who are approved for an Acorns Checking account through 05/31/2022. To qualify for this promotion you must (1) Receive two qualifying Direct Deposit paychecks of at least $250 each into your Acorns Checking account within 45 days of being approved for an Acorns Checking account and (2) Spend at least $500 from your Acorns Checking account within 3 months of your 1st qualifying Direct Deposit. The following debit card based transactions will qualify towards the $500 spending requirement: (1) card swipe transactions/chip reader transactions and 2) online card purchases. The qualifying Direct Deposits must be made by the individual’s employer, payroll provider, or benefits payer by Automated Clearing House (ACH) deposit. Bank ACH transfers, verification or trial deposits from financial institutions, peer to peer transfers from services such as PayPal, Cash App, or Venmo, mobile check deposits, and cash loads or deposits are not qualifying Direct Deposits. The $75 reward will be invested as a lump sum in the form of a purchase of investments in your Acorns Invest account within 45 days of qualifying for this promotion. Your Acorns Invest and Checking accounts must be open, verified, and in good standing at the time of reward fulfillment.”
completed requirements late Dec last year, bonus pending since early Feb, but still waiting for the bonus credited. Asked the company 6 times, and there is never useful response or clear explanation.
How soon can we close the account after receiving the $75 bonus? I don’t see we have to keep the $75 there in the fine print.
Data point from today: Transferwise with reference “Direct Dep” was recognized as a direct deposit.
Acrons shows Wise as an ACH Transfer for me as of this morning. Where are you seeing the Direct Deposit?
I participated in the promotion three months ago and finished the requirements very soon. Well, in order to receive the bonus, I need to keep the invest account open, which is at least $3/month.
I finished the requirements 45 days ago, but didn’t receive the bonus. I called today, and was told that, the bonus will be given 45 days after the END OF PROMOTION, not after I finished the requirements. The promotion ends on 03/31/2022, which means it will be in May.
OK, that means, I need to pay the monthly fees 7 times to receive $75 taxable bonus. Well, still a moneymaker, and they indeed have every reason to do so, but definitely, the worst experience I ever have.
Also, when I signed up the account, the promotion was said to end on 12/31/2021 (According to the website, it says paid out within 45 days from the data of meeting all the requirements, not consistent with what the representative said). Does that mean, if they want to keep extending the promotion, then I will never receive the bonus.
does Acorn provide instant debit card number in app?
Does Acorns have a monthly fee. I used to have an invest account but closed. Now I opened a checking account. It says there is a $3 fee for personal account.
Whether Acorns will do a hard credit pull? Or is it Chexsystem sensitive?
Whether Paypal or brokerage ACH transfer will court as Direct Deposit?
Thank you!
There’s typically no hard pull unless you apply for a credit line.