Software · head to head
Acorns vs Venmo
The short version
- Only Venmo 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; Venmo instant transfer costs 1.75 percent with a minimum fee of 0.25 USD and a maximum of 25 USD, while the free standard transfer takes 1 to 3 business days
- They diverge on capability: Acorns covers Round-up investing, Venmo covers Money transfers.
Where they differ
Only the attributes on which Acorns and Venmo actually diverge.
Identical on both: platforms (Web, IOS, Android), 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
Only in Venmo
- Money transfers
- Bill splitting
- Social feed
- Transaction history
Both cover
- Bank accounts
- Debit cards
- Web support
- 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 Venmo
- Retirement saving through Acorns Later IRA accountsnot Venmo
- Checking and high-yield savings alongside investingnot Venmo
- Custodial investing and debit cards for children through Acorns Earlynot Venmo
- Earning cashback that is invested rather than bankednot Venmo
Venmo
- Splitting bills and reimbursing friends in the United Statesnot Acorns
- Accepting payments through a Venmo business profilenot Acorns
- Buying and holding cryptocurrency inside the payments appnot 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
Venmo
- Instant transfer costs 1.75 percent with a minimum fee of 0.25 USD and a maximum of 25 USD, while the free standard transfer takes 1 to 3 business days
- Sending money funded by a credit card carries a 3.00 percent fee
- Cryptocurrency fees are tiered by trade size, from 2.20 percent on purchases of 1.00 to 74.99 USD down to 1.50 percent above 1,000 USD
- Business profile payments cost 1.9 percent plus 0.10 USD, and Tap to Pay costs 2.29 percent plus 0.09 USD
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
Venmo
Free- FreeFree
- P2P transfers
- Bill splitting
- 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.
Choose Venmo if
- You need money transfers.
- You want to start without paying.
- You work on Web, IOS, Android.
- You also want bill splitting.
Questions people ask
- Is Acorns or Venmo better?
- Neither clearly leads. Acorns starts at On request and Venmo at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
- Which is cheaper, Acorns or Venmo?
- Venmo has a free tier; the other does not. Paid plans start at On request for Acorns and Free for Venmo.
- Does Acorns or Venmo run on more platforms?
- Both run on Web, IOS, Android, so platform support will not decide this one for you.
- Can I use Venmo for free?
- Yes. Venmo 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 Venmo is typically brought in for.
- What can Acorns do that Venmo cannot?
- Acorns covers Round-up investing, Automated investing, Portfolio management, Recurring investments. Venmo covers Money transfers, Bill splitting, Social feed, Transaction history. Both handle Bank accounts, Debit cards, Web support, IOS support.