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Acorn Account review

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Acorn Business Account
Account fee
Interest (AER)
0% AER

Our verdict

Take the stress out of your finances with hassle free banking.

With no credit checks or signatures required, it’s easy to open an Acorn current account online.Plus, if you’re looking for a more personal touch when it comes to managing your finances, Acorn’s UK-based account managers might swing it for you.

However, the £14.50 monthly account fees and £1.50 cash withdrawal charges seem pretty high. So even though it might be quick and easy to open an account, make sure you spend the same, if not more, time weighing up the pros and cons beforehand.


  • No credit checks
  • Account manager to manage your account
  • Multiple ways to bank


  • Application fee and a monthly charge apply
  • No interest paid on credit balances
  • Fees apply to everyday banking transactions

In this guide

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  • Your reviews

As an Acorn Account holder, you will have access to a UK-based account manager to assist you with your everyday banking.

What is the Acorn Account?

Acorn has been providing current accounts and payment services since 2007. Accounts are highly functional and easy to open, with no credit checks, signatures or branch visits required. Your regular outgoings are taken care of by Acorn’s Account Management Team.

Acorn believes customers shouldn’t be excluded or pre-judged when it comes to personal finance. You won’t be turned away due to any aspect of previous financial history.

How does the Acorn Account work?

Finances and account preferences can be managed online by logging in to Acorn’s website or via the Acorn app. Account holders can also check their balance and load funds via telephone or SMS.

Features of the account include the following:

  • Account manager: A personal account manager can be spoken to directly. They will set up the necessary direct debits and regular payments from your account.
  • Managing spending: Once the correct funds have been set aside for bills, the remaining balance can be moved to the prepaid Debit Mastercard. This process can be automated if you prefer.
  • Online insight tool: Helping you to see what you’re spending where and where you can make cutbacks.
  • Pay in at Barclays: Take your cash and cheques to your nearest Barclays branch and pay in using your pre-printed GIRO.

Using Acorn abroad

There are fees for using your Acorn card abroad. ATM withdrawals outside the UK are charged at £3.00 plus 2.75% of the transaction value.

There is no overdraft facility on the account.

Acorn fees and limits

  • Monthly fee. There is a monthly fee of £14.50, which is debited from your account on the first of every month.
  • Secondary cardholder/joint account. A secondary cardholder can be added for £5 per month.
  • Withdrawal charges and limits. There is a charge of £1.50 per withdrawal at ATMs while a maximum of £450 per day can be withdrawn from cash machines.
  • Limits. Maximum initial load is £1,250 and the maximum card balance is £5,000.

Is Acorn safe?

Your card will be protected with a four-digit pin, which can be amended at any Mastercard ATM. Acorn’s online account service, where you can check transactions, make payments and download statements, is protected by a personalised password only you have access to.

Your money, however, isn’t protected by the Financial Services Compensation Scheme (FSCS). Instead, your money is held in a segregated account with Acorn’s chosen banking providers. This means that if something happens to Acorn, your money is already separate. Any money on your card is held by the card issuer’s (Fair Payments Limited) chosen banking provider.

Customer service information for Acorn

Email support
Telephone support
In-app or live chat
Contact form
Branch support

Acorn customer reviews

Acorn doesn’t score highly on review site Trustpilot. It currently has a score of 2.4 out of 5 from just 24 reviews, giving it a “Poor” rating (updated January 2024).

Many reviewers have commented on the high fees and premium rate phone number to contact customer service. However, others have said their queries were dealt with quickly.

There are currently no Acorn reviews on Google Play or the App Store.

Frequently asked questions

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