Stash Invest App Review | What You Need to Know about Stash Fees, Pros, Cons, & Services
If you have 2 minutes, $5, and a phone, the Stash app claims that you can start investing. With such an accessible pricing structure, it’s no wonder that Stash Invest has become one of the most popular investment apps.
Before signing up for the Stash app investing platform, it may be worthwhile to examine various Stash reviews from consumers and financial experts to determine how effective and worthwhile the Stash app is.
Take a look at our Stash invest app reviews to see if the Stash app lives up to its promise, and what you need to know before you open an account.
According to a Stash Invest app review by Policy Genius, the Stash app is aimed at providing a cost-effective, value-based millennial investing platform.
In a similar process to competing investment apps, Stash withdraws money from your bank in increments as low as $5 and sends it to your Stash Invest account.
Then, the Stash app invests money in low-cost exchange-traded funds (ETFs) selected by Stash based on a profile you fill out when you sign up.
Stash Invest App Reviews: Investments
A Stash Invest app review by Business Insider points out that the Stash app helps people, particularly millennials, find investments they can “believe” in. The Stash app review says that people can “invest around a theme that resonates with them.”
If you want to use Stash for investing, there’s a wide range of choices, according to the Stash Invest app review by Policy Genius.
Image Source: Stash Invest App
As a millennial investing platform, the Stash app offers value-based categories of investments, including:
- Clean and green companies
- Aerospace and defense companies
- Companies with equal rights policies
- Political interests
- Healthcare companies
- Financial interests
Photo courtesy of: Stash
These value-based categories can be found throughout customized portfolios which cater to specific lifestyles, personalities, and social influences. Stash Invest portfolios include:
- The Activist
- The Techie
- The Globetrotter
- The Trendsetter
One Stash review from Mymoneyblog.com calls the investments “re-labelled ETFs” that people can buy from any brokerage account.
This Stash app review goes on to say that the idea is to make investing more approachable. Rather than scaring off new investors with things like ticker symbols and limit orders, like other investment apps, Stash adopts a different approach.
Instead, the Stash Invest app uses plain English and gives their investments names like “Park My Cash” and “Roll with Buffet,” according to the Stash app review by Policy Genius.
Stash reviews seem to differ on whether or not individual stocks are available to investors.
The Stash app review by Elephant’s Paycheck says that they only have mutual funds and exchange-traded funds available to invest in, but the Stash review by Investor Junkie says that “there are some individual stocks too.”
The Stash Invest app FAQs explain that most of the investments they offer are exchange-traded funds because of the lower fees, managed risks, and historical performance.
Stash Invest indicates ETFs are better for diversifying a portfolio than individual stocks and that other investments may be added over time. The Stash Invest app does not list all the available investments on the website.
Those who are considering using Stash for investing should know that the Stash approach is to buy, hold, and add, according to a Stash app review by Rucksacked. The Stash review by Elephant’s Paycheck explains their philosophy is to buy and hold investments over the long term.
Stash Invest App Reviews: Stash Fees
The Stash Invest app review by Policy Genius says one point of difference between the Stash app and their competitors is the fee structure.
Rather than taking fees out of your portfolio, the Stash app withdraws fees directly from your bank account. One consideration to take is that, according to the Elephant’s Paycheck Stash app review, the Stash fees are not clearly stated during the sign-up process.
- $1 per month for accounts under $5,000
- 0.25% per year for accounts $5,000 and over
The Stash app itself is free, and the service is also free for the first three months. According to more than one Stash app review, the fees are low and right in line with competitors.
Low fees are appealing to all investors, but particularly to millennials, which certainly contributes to the numerous positive Stash reviews as a millennial investing platform.
Stash Invest App Reviews: Ease of Use
The Stash Invest app review by Mymoneyblog.com says that you’ll need the same information to sign up for the Stash app as you would for any SIPC-insured brokerage account.
That includes your name, address, and Social Security number. From there, the Stash app has you fill out a risk questionnaire, which guides you toward investments that might be right for you.
The Stash Invest app review by Rucksacked says the next step is to link and verify your bank account. The process can take up to 5-6 business days to confirm your bank and transfer funds.
The Stash app review goes on to say that future deposits will take 2-3 working days.
According to the Stash app review by Elephant’s Paycheck, the Stash Invest app is “pleasing to the eye, approachable, and very easy to get started.” The Stash app review talks about a favorite part of the app—the Potential screen.
This screen shows Stash Invest app users how monthly deposits and changes in the market can affect the long-term value of an account. This, according to the Stash app review, motivates users by allowing them to dream about their future returns.
Though the Stash Invest app is geared toward millennials and new investors, the app itself does not provide tools to help people learn about investing or gain experience, according to one Stash Invest app review.
More than one Stash Invest app review points out the lack of website availability. These Stash reviews point out that those who want to use Stash for investing must use the mobile app.
However, the Stash website is the best place to read the extensive list of FAQs.
Though the Stash Invest app reviews vary on the finer details, there are many points upon which the Stash reviews agree.
- Low minimum to start
- Low fees
- Buy, hold, add
- Well-designed user interface
- Values investing
A few pros that were mentioned in some Stash Invest app reviews, though not across the board, were the range of investment options and the portfolio tools. There are approximately 30 different investment choices.
Another feature mentioned in the Investor Junkie Stash app review is the ability of users to share their investment activities on social media.
The Stash Invest app allows you to opt out if you’d prefer to keep your investments private; however, this feature seems to be a good fit for the target audience.
Photo courtesy of: Stash
- No account access through website
- No purchase of individual stocks
- App doesn’t work offline
- Email notifications
- Costly fees for larger accounts
The Stash app review by PCMag.com talks about the lack of comparison tools to see how your funds compared to others. The Stash Invest app review goes on to say that it’s a “simple app that would benefit from additional features.”
Consumer Stash Invest App Reviews
The app is relatively new, having only been released in October 2015, but users of the Stash app are already making their thoughts known.
Users of the Stash Invest app on Google Play give the app 4.0 stars. Stash Invest app users on the iOS store give the app a 4+ rating. Below, we’ve recapped what consumers said they liked and disliked about the Stash Invest app.
- Easy-to-use app
- Can make small investments
- Fun way to invest
- Good customer service
- Makes saving simple
- Good for beginners
Auto-stash is a feature the Stash Invest app added after the initial release, and it was not mentioned in the majority of Stash reviews.
However, the Stash Invest app review at Elephant’s Paycheck says it’s a way to “automate investing small amounts regularly.”
- Glitches in the app
- Setup process
Most of the customer issues with the Stash Invest app revolve around the functionality of the app. The other issue that was mentioned in more than one Stash app review was whether or not this is legitimate.
The issue may stem from the newness of the Stash app, as the majority of users seem pleased.
Though the Stash app fees are only $1 per month for accounts less than $5,000, some users point out that if you start with only $5, your investments must make more than $1 per month just to break even in the first 5 months.
In that scenario, the fee is comparatively high, according to more than one Stash review.
Is the Stash Invest App Right for Me?
All investment decisions must be made with your personal situation in mind. Factors such as experience, time, and risk tolerance must be considered, whether you plan to use Stash for investing or seek a different route.
The Stash app review from Investor Junkie points out that the questionnaire you fill out when signing up assesses your risk tolerance. At that point, the Stash app shows you which investments are the best match for you: conservative, moderate, or aggressive.
Who Is the Stash Invest App Best Suited for?
After taking an extensive look at various Stash reviews, our Stash app review has determined that the Stash Invest app is best suited for those who:
- Require a low starting investment
- Need lower fees
- Enjoy accessing their accounts on a mobile device
- Want an easy-to-use app
- Prefer to invest based on personal values
- Are beginners
Who Might Not Benefit from the Stash Invest App?
Taking current Stash reviews into consideration, the Stash Invest app may not be the best investment platform for those who:
- Have more than $5,000 to invest
- Are already knowledgeable investors
- Enjoy buying individual stocks
- Prefer lots of advice from a broker
- Need the ability to access their account via a website
- Prefer short-term investing and frequent trading
Conclusion: Choosing Stash Invest as a Millennial Investing App
By making investments available for as little as $5, the Stash Invest app has removed many of the traditional barriers to investing, according to Stash reviews across the board.
For the 38% of millennials who thought they needed at least $1,000 to get started, this is welcome news.
If you’re a millennial looking to invest for the future, the Stash Invest app appears to be a good place to start exploring the ins and outs of millennial investing.
Their easy-to-understand language, combined with a mobile app for convenience, will ease you into the world of investing.
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