STASH, an app that is becoming a common household name all over the United States, it is supported by both Google and Apple Stores. I am sure that you have pretty much heard this app from friends, family, and colleagues. What is this all about? Why are people so hooked on it? Here is an overview of the pros and cons of the Stash app.
This app is utilized for saving and investing. It works as a virtual bank and investment facility. When you use its physical card for spending, you get rewarded with stocks. One highlight of the app is you can invest in well-known companies like Starbucks, Netflix, or Nike, to name a few. The app offers a step by step guidance through the process, so investing is made easy.
From the time Stash was copyrighted in 2017, let us find out if it wise to include this in our financial activities in 2019.
Pros of the Stash App
Fractional shares. Investing in Stash does not need tons of money because you do not necessarily need to buy a minimum of 1 share. You can buy a percentage of a single stock. This means you can invest in meager amounts. Many are happy because when they invested $5, they got a $5 return for signing up.
The investment made easy. When we talk about investing, we often find ourselves confused will all the jargons, computations, and manipulations of figures. Most of who gave five stars to this app never failed to include that Stash is a platform that is easy to use. From choosing the investments to following the procedure, Stash gives complete guidance without being daunted. Stash offers personal investment accounts, retirement accounts, and custodial accounts (under 18 of age).
The procedure is fun and different from the customary. You can build a portfolio that kills common financial mundane steps. It is themed, fun, and secure. Milestones are created to show you your potential success in probable new investments. You can choose a wide selection of stable and trusted companies to invest. Your portfolio can be checked anytime to see if your investment is moving upwards.
Stash banking. Stash offers a debit account with a physical card that you can use in ATMs all over the country. Unlike regular banks, it has no maintaining balance charges or fees. What is famous in Stash banking is Stock-Back TM. You can earn stocks from your purchases just by swiping. Stash gives customers the cashback reward as well. You can get a certain percentage of cashback that you can either withdraw or invest in your chosen stocks.
Automate Stash. Your account will include Auto-Stash tools which help you analyze your spending so that you would have something to spare. Round-up is another prominent feature of the app. To put it, Round-up (when set in automatic mode) will calculate your purchases to dollars so that every time the round-ups totals to $5, the spare will go to your investment accounts.
Cons of the Stash App
Though the pros look very interesting and amiable, just like virtual money and online banking, Stash has its share of paranoid customers. Just last year, some shared that after signing and linking Stash to their bank accounts, the information for review and modification can no longer be found. Because of the lack of transparency to a degree, customers raised doubts about real-time values, knowledge, and percentages.
Another is the cost of Stash at $1 per month is heartbreak for most of the customers. As the app is continuously being compared to its competitors, this amount is high for such a small portfolio. The accumulated value of the fee can affect likely earnings.
Why You Should Download It
Stash shows promise in its 3 or 4 years of existence. It gets reasoned reviews from ecstatic customers who actualized their investing goals despite a lot of doubts,. Just like in any investing undertakings, learn the procedure thoroughly before getting into it.
Start Investing today at Stash!