Overview of Stash Invest App
Stash is a Smartphone app designed for keeping an investment on a hold over a long term, though not for recurring trading. It’s an investing platform with a real brokerage account under it that enables you to invest in a curated choice of approximately 30 ETFs (Exchange Traded Funds).
With as low as $5 you can start and include more in any addition by means of partial share possession. The app has a very exciting interface. The Stash Way is Buy, hold, and add.
ETF is an acronym for Exchange Traded Funds; it’s traded on stock exchanges, totally like stocks. An ETF is a collection of assets such as bonds, stocks, or commodities. Due to their moderate costs, expansion and stock-like components, ETFs can be alluring as investments.
How Do You Sign Up?
• Download the app.
• Fill out your personal information such as name, address, and SSN. This is the same as SIPC for insured brokerage accounts. Stash only needs your social security number to issue you a tax reporting form at the end of every year.
• Select your investment, this you can review or change later if you so desire.
• Fund your investment with any bank account and to verify you simply make a little test deposits. As for chosen banks, you can facilitate the process of linking to your bank account using your bank login credentials.
Investment Portfolio Details
You can select from around 30 various investments, all of which are simply re-tagged Exchange Traded Funds (ETFs) which every other individual with a brokerage account can buy.
The simple rationale here is to make things more attainable without creating the fear of things like limit orders, ticker symbols, etc.
What is The Time Lag for Getting Transfer Funds to My Stash Account?
In the event that you are utilizing micro deposits to confirm your bank, the whole procedure can take 5-6 business days to interface your bank and transfer funds.
After your Stash account is finished and confirmed, it takes 1-3 working days for micro deposits to show up in your connected bank account. Following this step is to verify those micro deposits in the app and your bank will be connected.
Now, the transfer will be asked for and will be accessible within 2-3 business days. Until they transfer, they’ll be recorded as “uncleared deposits” on the record tab of the app. After your bank is connected and confirmed, future deposits will take 2-3 working days. If you’re using your bank login data to connect your bank with Stash, your transfer will be accessible within 2-3 business days.
Downloading Stash invest app is free but investment cost is only $5. This is relatively an advantage of Stash program over other investing services which charge fees for using their services.
In Stash, users with less than $5,000 in the app are given the first three months free and thereafter there is a charge of $1 per month.
That subscription fee is pulled out of your linked bank account, not your investments. Users with $5,000 or more invested get charged 0.25 percent of their account balance every year.
Every basic ETF has their respective expense ratio included. No commission fee for stock trades, deposits or withdrawals through electronic bank transfer.
Reversal Fee For Bank Transfer
An Apex Clearing (ACH) bank reversal happens when an earlier transfer of funds is reversed from a user bank for reasons such as insufficient funds, cancelled or halted.
This may happen when there are no sufficient funds in your bank account, transactions are duplicated, or denied, or when there is an inaccurate type of account. Where there is an ACH reversal, a $30 fee will be incurred by the user and the funds will be credited back to the first account.
Stash is not liable for any ACH reversal costs incurred by the user.
Other Key Points To Note About Stash
• Only one bank account can be linked at a time to Stash. To effect a change on this you’ll have to send an email to them via their support email address.
• There is a limit of deposit of up to $10,000 per day via online bank transfer. Deposit of physical checks is not allowed.
• Online statements are free but paper statements attract a fee of $5 each.
• Withdrawal of up to $10,000 per day via online bank transfer is allowed. No use of the physical check.
Who is Stash app Invest for?
Stash is suitable for upcoming investors and people who need a simple way to hold an investment and watch it accumulate. It’s a good means of expanding some of your holding from individual stocks into funds.
The app itself has no avenue for you to learn more about investing to gain expertise in your decision making and habit. It would be beautiful if every fund alternative is connected to information relating to the fund.
Since they’re funds, they’re extremely disconnected from the individual holdings to link quarterly conference calls.
The app is also great for people who want certain investments that aligns to their values.
• Permits buy, hold and add
• Affordable and regular investment amounts
• Cheap cost or fees which align to their major value of buy, hold and add
• Well designed user interface
• Allows investments in alignment to your values
• Good portfolios tools with information on prospective investments.
• Easy-to-use mobile app for investment management ranging from buying and selling
• Enables only Mutual Funds and ETFs, no provision for individual stocks
• Portfolio is the only tracking metric
• Allows for working online only, the app doesn’t work offline
• No obvious disclosure of fee at the sign-up process except in the FAQ
• Notifications are conducted only via email, no mobile notifications. There are notifications in the app, but they don’t include all the notifications in an email.
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I hope this review has help answer some questions you might have had about the Stash App, if I didn’t answer your questions please feel free to leave them below and I will get back to you.
Thank you for your time and may you have a great day/night.