Is "Acorns Invest Transfer" fraud?

Written by Ethan Patel

June 18th, 2024

Medium Risk

What is "Acorns Invest Transfer"?

Established in 2012, Acorns is a financial technology and financial services provider. It offers a micro-investing platform with features including automated investment in a portfolio of exchange-traded funds (ETFs), arranged in five different types of portfolios. In addition, Acorns provides a checking account service with a debit card offering that assists customers in making wise monetary decisions. Besides that, they provide a cash-back program where users can earn as they shop with Acorns’ 350+ partners.'

Acorns: The name of the company or platform involved in the transaction.

Invest: Indicates that the transaction is related to an investment activity.

Transfer: Indicates that the transaction involves the movement of funds from one account or platform to another.

Verify if this transaction is fraud in 30 seconds

Verify With Receipt

The best way to tell if this charge is fraudulent is to find the receipt. You may have an electronic copy of the receipt, which you can finding by searching in your email accounts for.

Or, if you want to automatically find and reconcile receipts so you never worry about fraud, you can use SimplyWise to automatically match all bank and credit card transactions to email and paper receipts. The app instantly reconciles your expenses and flags anything that doesn't match.

STEP 1

Connect your Email

Download the SimplyWise app and connect your email account. SimplyWise will search through your emails and find all the receipts in your inbox. This allows you to understand what exactly you are paying for when you see a bank transaction on your statement.

STEP 2

Connect Your Bank

Connect to your bank account/credit card transactions through the secure (256 bit encryption) Reconciliation feature within the app.

STEP 3

Reconcile

Reconcile the charges reported by your financial institution against what you've recorded in your SimplyWise account. Find fraud quickly! SimplyWise will match your transactions to your bank/credit card spending and check those items off.

SimplyWise Community Comments

PayPal Terminator

First off stop using your cell phone for doing any type of banking! Banks have the worst security around because they are cheap asses. Banks dont care about you or your money. Banks are so stupid that they use the same type of security measures as all of them. You'd think they'd have any brains to have different security measures to protect customers data and money. The fact is if a bank has a set of security measures, they all have the same exact ones. DO NOT use your cell phone for banking, none! The fact that your cell phone is on 24/7 and your hearing about this company getting hacked and that company getting hacked its obvious they don't care and have not got a clue on how to protect your data. How many scams do you hear about cell phone calls and text messages, well you should now clearly that you use your cell phone for anything, that information is getting collected and sold. You still want to use your cell phone for banking, the law should be then you should be responsible for