Acorns: who holds your money

Acorns's disclosure, read on September 5, 2026, describes FDIC pass-through coverage, deposit insurance through partner banks. Coverage depends on customer identification and recordkeeping. It protects eligible deposits when a partner bank closes, not the app company itself. An app closure does not trigger that protection. The visible disclosure and notes provide the programme’s specific conditions.

Current commentary

Acorns is not itself a chartered bank. Its disclosure, read on September 5, 2026, says customer money physically sits at Lincoln Savings Bank and nbkc bank. Lincoln Savings Bank has letter C here, while nbkc bank has letter A, compared with banks of similar size. Deposit insurance, government protection for eligible bank deposits, reaches customers through each partner bank when Acorns’ records identify each customer. The stated limit is $250,000 per depositor, per insured bank, for each account ownership category, provided the app’s records identify each customer.