Looking for an app similar to the Acorns investing app?
So currently on the app store for Iphone there is an app called Acorns. Say you spend 1.75 on a drink, well the Acorn app basically rounds your purchase to 2 dollars, so that it can invest 25 cents of your purchase. So after some time, your purchases are slowly rounding up and investing for you. Well i'm looking for an app that does this rounding system, only instead of investing that 25 cents, it actually just saves it in a savings account through my bank. So as time goes by, i'm slowly saving into a bank account. Is there any apps like this?
- audreyLv 76 months ago
I have that feature st BOA.
- Casey YLv 76 months ago
Some banks offer similar services, but I'd need to have a lot of trust in an app before I provide any of my banking information. Also, the app would actually need to intercede on any transaction...something I simply wouldn't trust.
Additionally, check out the fee structure. While appealing when compared to other investing, until you have a good chunk of money in there, you are burning through your spare change at $1 per month...
So, basically, you are paying them a buck a month to compile your spare change...perhaps only totaling $2 a month...