When it comes to our personal finances and investing, everyone wants an easy way to control their money. However, that’s not always easy to figure out how to use all the different investing and banking apps out there.
But there is hope!
The Stash investment app has taken the U.S. by storm, helping people navigate investing and weather their personal finance storm with ease.
So what makes Stash different from other investment apps and Robo-advisors?
Read on to learn about it in our Stash review. We’ve got the details on everything there is to know about the newest smart way to invest!
Stash Review: At A Glance
- It only takes 2 minutes and $1 to get started with Stash
- Can buy fractional shares
- No minimum account balances
- Offers smart portfolios and DIY pick your own investments
- Bank account and Stash Visa Debit card is powered by Green Dot Bank
What is Stash?
Stash is a startup that was founded in 2015 with the goal of giving everyday Americans the personal finance tools and investment guidance they need to reach their financial goals.
The company is helmed by Brandon Krieg and Ed Robinson, who bring more than 20 years of combined experience in the fintech and banking industry to the table.
One thing that makes Stash stand out from the competition is its focus on making personal finance easy for everyone, regardless of age or skill level. The app is designed with the user in mind, making it simple to use and of the best ways to invest.
And because Stash is constantly evolving and innovating, users can expect to find new features and tools being added all the time.
Who Is Stash Best For?
The Stash app is an excellent option for beginners interested in learning how to invest their money but not knowing where to start. The app offers a variety of investment options and features that will help you get started on your path to financial success.
Stash is also great for anyone of any age who wants to start learning about personal finance. The easy-to-use app allows users of any skill level or age group to navigate their way through all their newfound knowledge easily.
With its friendly interface and easy-to-use system, this app will make it easier than ever before for people to start investing wisely and building wealth today.
Investing With Stash
Signing up for a Stash account only takes minutes, and you don’t have to make a lump sum investment right away, which is perfect for getting started with any new type of investing.
Here are the investment options available through Stash currently:
Automated Investing- Smart Portfolio
Stash’s Smart Portfolio is the perfect investment option for anyone looking for a hands-off approach.
It is an individual taxable brokerage account that uses automated investing in creating a personal portfolio tailored to your specific goals and risk tolerance.
You can get started with as little as $5 if you have subscribed to the Growth or Stash+ plans that give you access to more features and investment options.
Stash investment experts build your investment portfolio using exchange-traded funds (ETFs) that are tailored to your risk profile, so you can be sure that your money is being put to good use.
What’s more, the Smart Portfolio is regularly monitored and updated, so you can rest assured that your investments are always in balance.
There are 3,860 stocks listed on the Stash stock page. Some of the stocks we saw listed on the page are Kellogg’s, Kroger’s, Monster, and General Mills, just to name a few.
Retirement & Custodial Accounts
Stash offers retirement and custodial accounts to Stashers. With just a minimum account, you can get started saving for retirement or saving for your kid’s future!
Saving for retirement doesn’t have to be complicated, and a Stash Retire account makes it easy for young investors to get started.
Stash customers can invest in fractional shares of stocks and funds for just 1 penny or 5 cents for shares priced over $1,000. And you can set up automatic contributions to your retirement account, so you never have to worry about forgetting to save.
Stashers can set up a Roth IRA or Traditional IRA to save for retirement with Stash. One retirement account is included in the Stash Growth and Stash+ plans. The maximum contribution to the retirement investment account is capped at $6k per year ($7k if over the age of 50).
Not sure how much money you need to save for retirement? Use the Stash retirement calculator to see how much money you need to save.
Custodial investment accounts
A custodial account is an investment account for a minor that can get money started for their brighter financial future, and it’s only available on the Stash+ plan. With this account, you get two custodial accounts for free.
There is no limit to the number of custodial accounts you can have, and the same minor can have more than one custodial account. Additional custodial accounts can be opened by contacting the Stash customer support team with your query.
The money in the custodial account is the minor’s property, and it can be used by the parent or legal guardian for things that benefit the child.
However, the adult or custodian who opens an account can manage it until the minor reaches age 18 or 21, depending on where they live.
When you buy fractional shares with Stash, you are buying a piece of a larger company. This can be a great way to get started investing, even if you don’t have a lot of money to invest.
Fractional shares are a way for users to invest in stocks without buying an entire share. This is beneficial for people who want to invest in a company but don’t have the money to buy a whole share.
You can buy fractional shares for as little as 1 cent, making it easy to get started. Plus, you don’t have to worry about buying too much or too little of a company when you buy fractional shares.
Investing novice or not, the Portfolio Builder is an excellent way for Stashers to make investing easy and quick. Plus, it’s free!
The Stash Portfolio Builder is a great way for beginning investors to create a diversified portfolio with asset allocation without doing all of the research themselves.
Stashers can choose from various ETFs and stocks to create a well-rounded portfolio that fits their risk tolerance. Users can choose how much money to put toward each asset class, giving them control over their investments.
The Stash platform offers three monthly subscription plans.
Each one of the Stash plans offers the same basic features plus some added features for the Stash accounts. The Stash monthly fees can be deducted from your Stash banking account balance.
The first subscription plan is the Stash Beginner plan.
The Beginner plan monthly fee is only $1 a month and is an excellent plan for those who are just getting started with investing.
Stasher’s get access to a personal investment account, a Stash bank account and Visa Debit Card by Green Dot Bank, and Stock-Back® and a $1k life insurance policy on the Beginner plan.
The next subscription plan is the Stash Growth plan, which only has a $3 monthly fee.
You get all the features of the Beginner plan plus access to Advice about growing your personal finances and the Stash Smart Portfolios and Retirement Portfolio.
The Advice for Stash comes from an SEC registered investment adviser, which can help you with growing your portfolio.
The third plan is the Stash+ plan which costs $9 a month.
With this plan, you get everything in the Stash Growth plan plus Advice for family finances and Stash+ Market Insights, 2 Kids Portfolios (custodial accounts), Banking access (2x stock with the Stock-Back Card), and a $10k life insurance policy.
Stash offers a variety of features that help users with their personal finance. Some of these features include the ability to:
Banking & Debit Card
The Stash Bank Account and Debit Card are great tools to have for personal finance. Green Dot Bank powers the bank account through Stash Investments, LLC.
The Stash bank account comes with a Stash Debit account card that has no fees when used at ATMs nationwide, and once you sign up for an account, your money is FDIC insured.
There are no minimum balance requirements or overdraft fees, making this the perfect bank account to use daily!
Additionally, the Stash Banking Account allows you to get paid 2 days early with ASAP Direct Deposit, making it an excellent choice for those who are paid via direct deposit.
When you sign up for one of the Stash subscription plans, you’re automatically enrolled in the Stock-Back rewards program. Stock-Back rewards are not FDIC insured and are not bank guaranteed
This means that you’ll earn free shares of stock at the companies where you shop – just for using your Stash debit card by Stash Investments LLC. You can qualify for at least 0.125% Stock-Back, and some store bonuses can be as much as 5%.
So, how does it work?
When you make everyday purchases with your Stash debit card by Green Dot Bank at a store listed in the Stash portfolio, the stock rewards earned are invested in stock for the store where you shopped.
If the store is not listed in the Stash portfolio, the Stock-Back you earn is invested in a diversified investment fund.
This ensures that your stock rewards are continuously being put to good use and that you’re not taking on any more risk than you need to.
Auto-Stash is a great way to save money without thinking about it.
You can choose how much you want to save and also how often the money moves from your bank checking account to your Stash Investment account.
There are two ways to Auto-Stash– Set Schedule and Round-ups.
With Set Schedule, you decide how much you want to save and how often you want the money transferred.
With Round-ups, your transactions are automatically rounded up to the nearest dollar, and the difference is transferred to your Stash account. This is a great way to save without even noticing!
Cash Management is a big part of personal finance. When it comes to cash management, you need to have a plan for where your money is going and what you’re doing with it. This can be tough, but Stash makes it easy!
With the Stash app, you can easily see all of your transactions in one place. This makes it easy to track where your money is going and how much you’re spending.
You can also set up alerts so that you’re notified when certain transactions occur, so you’ll always be up-to-date on your finances!
Fees & Commissions
- Account minimum: $1 to open an account, $5 to invest
- Account subscription fees: $1, $3, or $9 per month
- Trading fees and commissions: $0
- Stash Beginner: $1 per month
- Stash Growth: $3 per month
- Stash+: $9 per month
Stash Pros & Cons
- There are no minimum account requirements for your investment account
- Investing only costs 1 cent to get started
- The app has built-in assistance to assist you in investing
- Stash offers Auto-Stash, which sets up automated processes
- Stock-Back rewards are given
- With Smart Portfolios, you may create a portfolio that matches your risk tolerance.
- No trading fees or commissions on stocks and ETFs
- It offers resources and tools to assist you in learning more about investing.
- Stash offers bank account services provided by Green Dot Bank
- It doesn’t provide access to live personalized investment advice or financial advisor.
- Compared to the return on small accounts, the monthly subscription fee may be steep.
- Tax-loss harvesting is not possible.
- The account will not be rebalanced automatically.
- The debit account doesn’t offer any interest.
How much does Stash cost?
Stash is a personal finance app with three monthly subscription fees of $1, $3, and $9.
After that, there are standard fees and expenses reflected in all stock and ETF trading, which is the same as every app.
What basic features come with the 3 tiers of the monthly subscriptions?
Each tier of the monthly subscription comes with the same basic features.
The features are access to a Stash bank account, a VISA Debit card, a personal investment account, Stock-Back®, and a $1k life insurance policy.
What bank does Stash use for the bank account?
Stash uses Green Dot corporation for the Stash bank account and the Stash Visa Debit cards.
Does Stash offer FDIC insurance?
The FDIC insures the deposits to the Stash bank accounts through the partnership with Green Dot Bank.
Is it safe to use Stash?
Yes. The app is safe to use.
Stash offers the same 256-bit encryption that many banks use.
Plus, you can set other safety features, such as fingerprint access, four-digit security code, and facial recognition.
How should I invest my money?
There are three risk tolerance levels – Conservative, Moderate, or Aggressive. To figure out which one is best for you, answer the Stash questions to help define your risk tolerance.
You can choose your risk tolerance level on the Stash Financial Profile. For more investment advice you should check with a financial advisor.
Other Investment Apps
Perhaps you are an experienced investor and need a little more than Stash offers. There are other investment apps that may fit your situation more than Stash.
Some apps that you might want to consider are:
Robinhood is a commission-free stock trading app that allows you to invest in stocks, ETFs, options, and cryptocurrencies.
It’s an excellent app for beginners because it’s easy to use and provides educational resources to help you learn about investing.
You can use the Robinhood app to monitor your portfolio, explore new investment opportunities, and more.
You can also use Robinhood to buy and sell cryptocurrencies, which is an excellent option if you’re interested in investing in this asset class.
Although there are no investment minimums, fees, or account minimums at Robinhood, you have to wait two days for cash deposits and withdrawals.
Learn more in our Robinhood review!
Betterment is an online financial advisor that aims to make personal finance easy for its users. It has grown to become one of the world’s largest and most popular Robo-advisors.
Robo-advisors are investment services that use computer algorithms to manage your investments, and Betterment is one of the pioneers of this industry.
The app has a user-friendly interface, and it provides a wealth of educational resources to help users learn about personal finance and investing.
Custom-building portfolios with low-cost, diverse ETFs is what Betterment does. The app is best for users who want to start investing and managing their own money.
Find out more in our Betterment review!
One of the most popular personal finance apps is Acorns. It’s an app designed to be easy for users of all ages and skills levels, that allows you to invest your spare change into an investment portfolio of stocks and bonds.
This is an excellent option for people who are just starting to invest and want to start small. It takes only $3 or $5 to get started.
Acorns will round it up to the nearest dollar and invest the difference when you make a purchase. You can also set up recurring investments or have your money invested in a variety of different options.
Check out our article Acorns Vs. Robinhood to see which investment platform would benefit you more!
M1 Finance is a tool for smart investors. The Robo advisor platform allows you to create a portfolio of stocks and ETFs from various companies and allows the user to create their custom investment strategy.
This can be great for experienced investors who want to invest in a customized way that works best for them.
Check out our review of M1 Finance!
Personal Capital is a free online service that helps you manage your finances rather than invest.
The website provides you with a dashboard to view all of your financial accounts in one place, including your bank accounts, credit cards, investment accounts, and more. You can also use Personal Capital to track your spending and create budgets.
The best part about Personal Capital is that it’s totally free to use. You can sign up for an account on their website or download their app for iPhone or Android.
We hope you enjoyed our Stash review!
Overall we think Stash is a good investment app that allows you to easily and quickly invest your money into low-fee ETFs and stocks.
They have it set up for users of all skill levels and age groups, making it great for everyone. There are no account minimums and monthly fees, which is excellent for those who want to invest without paying large sums of money just to get started.
Give Stash a shot for free and see how you like it today.