Wouldn’t it be great if a checking account gave you a $ 75 bonus just for setting up direct deposits?
What if this account also made it super easy to invest your money and grow your wealth?
That’s the idea behind it Spend acorns. It is a checking account that is linked to an investment account that automatically invests your digital “change”.
Acorns’ robo-investment app has become hugely popular since its launch in 2014 and is now expanding to other services – like checking accounts and debit cards. Whenever you swipe your Acorns Spend debit card, your purchases are rounded up to the nearest dollar. Then it redirects that money into stocks and bonds for you.
Because the money is spent in less than $ 1 increments, it is less likely to affect your bank account. (Although you can always turn off the digital “round-ups” for a while if you are in need.)
Oh, and let’s not forget the $ 75. At Acorns, you start with a free $ 5 bonus. With Acorns Spend you will receive a $ 75 bonus after you Activate direct deposit and receive your first two deposits into your donation account.
One of the easiest ways to start investing
If you aren’t already investing, this is one of the easiest ways to get started. With Acorns, you don’t have to decide exactly where to put your money. Instead, answer a few questions about your goals and Acorns will build your investment portfolio options – ranging from conservative to aggressive. If you really want to know the details, the app breaks down which types of funds make up your portfolio. If you don’t want to dive into it, you don’t have to.
Acorns invests your money in popular ETFs or exchange-traded funds, which are collections of hundreds or thousands of stocks and bonds. The app has a handful of different portfolios depending on how much risk you want to take. You can even let Acorns invest a percentage of your direct deposits as soon as they land in your donation account.
It costs just $ 3 per month, and there are no overdraft fees or minimum balance required. You can also use your Acorns Spend debit card, free of charge, at any ATM that accepts Visa cards.
It only takes a few minutes to get started. Click here Enter your email address and set up your account, then set up a direct deposit and hit the road to $ 75 free.
Mike Brassfield ([email protected]) is a senior writer at The Penny Hoarder.