[Product Suggestion] USAA should add a micro-investing feature to its app

Regular Contributor

Hi USAA,

 

Hope things are well.

I recently read about the micro-investing app called Acorns - https://www.acorns.com/-  and was pretty impressed with the idea. (Please note I'm not affiliated with Acorns in any way).

 

Their idea was to link to your credit or debit cards, and whenever you make a purchase the amount charged on the card is rounded up to the nearest dollar. The difference between charge amount and actual item price is then invested (in ETFs in their case).

 

So for example: when you spend something like $85.15, the app will round it up to $86 and invest the extra 85 cents.

 

Given how good  USAA is with information technology it should be possible to offer such a micro-investment service to its members via the USAA app.

 

I think USAA should do whatever it can to incentivise saving.

 

Please consider adding these kinds of tools.

 

 

 

 

 

 

7 REPLIES

Thank you for your post, Cleisthenes. We appreciate the feedback and suggestion as we're always looking for ways to best assist our members. I will be sharing your comments with the appropriate area for further review and consideration. Thank you for your membership. -Meredith

I would be interested in this too!

Thanks for your feedback, heatseker! I will be sure to pass this feedback on for further review. Have a great evening! -Meredith

It would be a great addition to USAA's service portfolio, especially if there is the ability to link other accounts (like AmEx Serve and other banks) as there is in the MyUSAA page...or use those accounts that are already linked (including being able to deposit to existing investment accounts). I've opened an Acorns account but would rather not link my USAA accounts to it. Thanks!

I think this is a great idea.  It would be an easy way to save, and even a little bit at a time adds up over time.  Good suggestion!

So what I'm hearing is this doesn't currently exist at USAA, correct? I'm sad because I don't want to share my banking information with another company, but I guess have to for now. Please keep us posted once you do introduce something similar to Acorns! :)

Quimi - We appreciate your interest and will keep you posted. - Jason