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Acorns vs Wallet

Acorns logo

Acorns

Software

Invest your spare change

From
On request
Rated
-
Full reviewWebsite
W

Wallet

Software

Smart expense tracking and budgeting

From
Free
Rated
-
Full reviewWebsite

The short version

  • Only Wallet has a free tier, so it costs nothing to try first.
  • They diverge on capability: Acorns covers Round-up investing, Wallet covers Expense tracking.

Where they differ

Only the attributes on which Acorns and Wallet actually diverge.

Attributes where Acorns and Wallet differ
AttributeAcornsWallet
Starting priceOn requestFree
Pricing modelsubscriptionfreemium
Free tierNoYes
Founded20122010

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
  • Debit cards

Only in Wallet

  • Expense tracking
  • Budget management
  • Receipt scanning
  • Financial analytics

Both cover

  • Bank accounts
  • 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 Wallet
  • Retirement saving through Acorns Later IRA accountsnot Wallet
  • Checking and high-yield savings alongside investingnot Wallet
  • Custodial investing and debit cards for children through Acorns Earlynot Wallet
  • Earning cashback that is invested rather than bankednot Wallet

Wallet

  • 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

Wallet

Nothing recorded yet. See the Wallet review.

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

Wallet

Free
  • FreeFree
    • Expense tracking
    • Basic budgets
  • Premium$4.99/month
    • Advanced analytics
    • Custom categories
    • Receipt scanning

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 Wallet if

  • You need expense tracking.
  • You want to start without paying.
  • You work on Web, IOS, Android.
  • You also want budget management.
Wallet review

Questions people ask

Is Acorns or Wallet better?
Neither clearly leads. Acorns starts at On request and Wallet at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Acorns or Wallet?
Wallet has a free tier; the other does not. Paid plans start at On request for Acorns and Free for Wallet.
Does Acorns or Wallet run on more platforms?
Both run on Web, IOS, Android, so platform support will not decide this one for you.
Can I use Wallet for free?
Yes. Wallet 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 Wallet is typically brought in for.
What can Acorns do that Wallet cannot?
Acorns covers Round-up investing, Automated investing, Portfolio management, Recurring investments. Wallet covers Expense tracking, Budget management, Receipt scanning, Financial analytics. Both handle Bank accounts, Web support, IOS support, Android support.
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