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Acorns vs Square Cash

Acorns logo

Acorns

Software

Invest your spare change

From
On request
Rated
-
Full reviewWebsite
S

Square Cash

Software

Send money easily with Square Cash

From
Free
Rated
-
Full reviewWebsite

The short version

  • Only Square Cash has a free tier, so it costs nothing to try first.
  • Each has a real cost: Acorns a flat monthly subscription regardless of balance, so $3 a month on Bronze is a heavy percentage on a small account; Square Cash cash App Green status (higher savings rate, free in-network ATM withdrawals, overdraft coverage) requires spending $500 or depositing $300 in Qualifying purchases/deposits per month, per the App Store listing
  • They diverge on capability: Acorns covers Round-up investing, Square Cash covers Money transfers.

Where they differ

Only the attributes on which Acorns and Square Cash actually diverge.

Attributes where Acorns and Square Cash differ
AttributeAcornsSquare Cash
Starting priceOn requestFree
Pricing modelsubscriptionfree
Free tierNoYes
PlatformsWeb, IOS, AndroidIOS, Android
Founded20122014

Identical on both: user rating (Not yet rated), category (Unknown).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in Acorns

  • Round-up investing
  • Automated investing
  • Portfolio management
  • Recurring investments
  • Credit cards
  • Debit cards
  • Web support

Only in Square Cash

  • Money transfers
  • Instant deposits
  • Transaction history
  • Customer support

Both cover

  • Bank accounts
  • IOS support
  • Android support

What people use each for

The jobs each tool is most often brought in to do.

Acorns

  • Automated investing of spare change from everyday purchasesnot Square Cash
  • Retirement saving through Acorns Later IRA accountsnot Square Cash
  • Checking and high-yield savings alongside investingnot Square Cash
  • Custodial investing and debit cards for children through Acorns Earlynot Square Cash
  • Earning cashback that is invested rather than bankednot Square Cash

Square Cash

  • Budget Managementnot Acorns
  • Expense Trackingnot Acorns
  • Investment Trackingnot Acorns

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

Acorns

  • A flat monthly subscription regardless of balance, so $3 a month on Bronze is a heavy percentage on a small account
  • The emergency savings account and the 1 percent IRA match need Silver at $6 a month
  • Custom portfolios, Acorns Early for children and Money Manager are Gold tier only at $12 a month
  • There is no free tier

Square Cash

  • Cash App Green status (higher savings rate, free in-network ATM withdrawals, overdraft coverage) requires spending $500 or depositing $300 in Qualifying purchases/deposits per month, per the App Store listing

Pricing, plan by plan

Acorns

On request
  • Lite$4.99/month
    • Round-up investing
    • Automated portfolio
  • Plus$9.99/month
    • All Lite features
    • Checking account
    • Dollar-based investing
  • Premier$19.99/month
    • All Plus features
    • Premium investing

Square Cash

Free
  • FreeFree
    • P2P transfers
    • Instant deposits
    • Mobile app

Which should you pick?

Choose Acorns if

  • You need round-up investing.
  • You work on Web, IOS, Android.
  • You also want automated investing.
Acorns review

Choose Square Cash if

  • You need money transfers.
  • You want to start without paying.
  • You work on IOS, Android.
  • You also want instant deposits.
Square Cash review

Questions people ask

Is Acorns or Square Cash better?
Neither clearly leads. Acorns starts at On request and Square Cash at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Acorns or Square Cash?
Square Cash has a free tier; the other does not. Paid plans start at On request for Acorns and Free for Square Cash.
Does Acorns or Square Cash run on more platforms?
Acorns runs on Web, IOS, Android. Square Cash runs on IOS, Android.
Can I use Square Cash for free?
Yes. Square Cash has a free tier, so you can try it without paying. Acorns starts at On request.
What is Acorns best used for?
Acorns is most often used for automated investing of spare change from everyday purchases, retirement saving through acorns later ira accounts, checking and high-yield savings alongside investing, custodial investing and debit cards for children through acorns early. Of those, automated investing of spare change from everyday purchases and retirement saving through acorns later ira accounts are not what Square Cash is typically brought in for.
What can Acorns do that Square Cash cannot?
Acorns covers Round-up investing, Automated investing, Portfolio management, Recurring investments. Square Cash covers Money transfers, Instant deposits, Transaction history, Customer support. Both handle Bank accounts, IOS support, Android support.
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