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Square Cash vs Acorns

S

Square Cash

Software

Send money easily with Square Cash

From
Free
Rated
-
Full reviewWebsite
Acorns logo

Acorns

Software

Invest your spare change

From
On request
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: 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; Acorns a flat monthly subscription regardless of balance, so $3 a month on Bronze is a heavy percentage on a small account
  • They diverge on capability: Square Cash covers Money transfers, Acorns covers Round-up investing.

Where they differ

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

Attributes where Square Cash and Acorns differ
AttributeSquare CashAcorns
Starting priceFreeOn request
Pricing modelfreesubscription
Free tierYesNo
PlatformsIOS, AndroidWeb, IOS, Android
Founded20142012

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 Square Cash

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

Only in Acorns

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

Square Cash

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

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

Where each one falls short

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

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

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

Pricing, plan by plan

Square Cash

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

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

Which should you pick?

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

Choose Acorns if

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

Questions people ask

Is Square Cash or Acorns better?
Neither clearly leads. Square Cash starts at Free and Acorns at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Square Cash or Acorns?
Square Cash has a free tier; the other does not. Paid plans start at Free for Square Cash and On request for Acorns.
Does Square Cash or Acorns run on more platforms?
Square Cash runs on IOS, Android. Acorns runs on Web, 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 Square Cash best used for?
Square Cash is most often used for budget management, expense tracking, investment tracking. Of those, budget management and expense tracking are not what Acorns is typically brought in for.
What can Square Cash do that Acorns cannot?
Square Cash covers Money transfers, Instant deposits, Transaction history, Customer support. Acorns covers Round-up investing, Automated investing, Portfolio management, Recurring investments. Both handle Bank accounts, IOS support, Android support.
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