Stash offers two main features: investing and banking. A two-tiered monthly management fee gives you access to both services, and you maintain separate balances with each service.
The investing service allows you to buy stocks, exchange-traded funds (ETFs) and crypto, starting with a $5 minimum investment. From there, you can add more money if you wish, or you can schedule automatic, recurring deposits.
You can choose between a taxable investment account or a tax-advantaged individual retirement account (IRA)—either a traditional IRA or a Roth IRA. If you have children younger than 18, you can open a custodial investment account on their behalf.
For hands-off investors, the Smart Advisor option offers a robo-advisor account. After you fund your account, Smart Advisor creates and manages a custom portfolio based on your risk tolerance and financial goals.
Stash Banking
There’s no minimum deposit requirement to open the online bank account, but you need to deposit at least $1 to receive a debit card. There are no overdraft fees, no minimum balance requirements and no monthly maintenance fees. Stash partners with Stride Bank to hold your deposits.
You may instantly transfer funds between your investment account and your bank account balance. The debit card provides fee-free withdrawals from more than 55,000 ATMs worldwide and cash deposits at retail locations at participating CVS, Rite Aid and Walgreens stores.
Debit card purchases earn 1% rewards on all purchases in the form of fractional shares of stock. You can choose a stock to earn as a reward, which is deposited into your investment account.
As noted above, the bank account lets you round up debit card purchases to the nearest dollar and deposits the balance in your investment account.
The Stash mobile app enables mobile payments via your online bank account. It also includes budgeting tools so you can track your spending and savings. Finally, if you receive direct deposits, the account gives you access to your money up to two days before payday.
Budgeting Features
Stash doesn’t offer the robust budgeting features found with many other budgeting apps. But within the banking portion of Stash, you can set savings goals and automate savings to fund your goals. Users can track spending with Stash, which will help you understand your expenses better and provide guidance when planning your monthly budget.
Security
Stash uses the latest security measures to protect its customers, including 256-bit encryption, biometric authentication and other cutting-edge technologies.
Deposits to Stash bank accounts are FDIC insured up to the legal limits through a partnership with Green Dot Bank. Investments with Stash are protected up to $500,000 through partner company Apex Clearing Corporation.
