Stash App Review: Is This Investment App Safe or A Scam?

This blog is supported by sponsored links & ads. But “Eddy with a y” only personally recommends companies I trust and researched.

Anyone that is wealthy will tell you, that the best way to make money is to have your money work for you. But let's face it, most of us are terrified of the stock market, which would help you achieve this. Apparently that has changed because of investment apps like the Stash app. But is it really any good? You may have already read other Stash reviews to get the details on what the app has to offer, but need some more information to help you decide if it is right for you. Let's get into all the details on this investment app, including all the complaints.

What is the Stash App?

Stash is an investment smartphone app from stashinvest.com that features a brokerage account and a selection of approximately 30 various exchange traded funds. (ETFs). Stash was founded in 2015. The company's headquarters is located in New York, New York. Did you know you can get paid for downloading apps like this on Swagbucks.com and FusionCash.com?

How Does The Stash App Work?

The Stash investing app allows you to choose from 30 different exchange traded funds based on the risk assessment questionnaire you fill out when you sign up. The app will label you as either a Conservative, Moderate, or Aggressive Investor. You place an initial investment deposit and can add more by fractional share ownership. All Stash investments are covered by the Securities Investor Protection Corporation.

Stash simplifies investing by offering value-based categories of investments. You can select a customized portfolio based on your financial, political, or environmental interests and more. Stash also employs a different approach in presenting their investment portfolios by giving them interesting names such as “Roll With Buffet” and “Park My Cash” rather than the intimidating stock ticker symbols used by other apps. The investments are designed on a buy and hold basis.

How Much Does Stash Cost?

New investors can start an account with a $5 investment. New investors get the first month free of any fees and then are charged a $1 per month for accounts under $5,000 and 0.25 percent per year for balances over $5,000. There are no commission fees for stock trades and no bank transfer fees on deposits and withdrawals.

How Do I Start With The Stash App?

You can download the smartphone app for Apple devices on iTunes and Android devices in the Google Play Store at no cost. You will need to provide your personal information and complete a short-risk questionnaire that will help you select an appropriate investment when you sign up. Fund your chosen investment with any bank account. You will need to verify your bank account with either 2 small test deposits or linking your login credentials. Linking your bank account can take up to 6 business days.

You must be 18 years old to open an account. Stash tries to make investing less scary for new investors. If you want an alternative option to create more income, then check out my Best Work At Home Recommendation.

Stash Complaints

So on the surface, this sounds all good. It would seem like the stash app would make investing simple for anyone that wants to give this a shot. But like any app, it does have some flaws that you should be aware of to make the right decision for you.

Account Choice Limitations: Unlike other investment apps like Betterment and Wealthfront, Stash only provides taxable brokerage accounts. Investors won't be able to take advantage of investing and maximizing contributions to individual retirement or 401k accounts.

Horrible BBB Rating: At the time of this review, Stash has a D+ rating and no accreditation with the Better Business Bureau. According to some of the complaints, the company failed to respond to a billing complaint. Swagbacks.com & FusionCash.com are companies that make you money with positive BBB ratings.

Expensive Account Subscription Fees: Stash charges fees which are taken from your bank account rather than your investment portfolio. The company charges $1 per month for accounts under $5,000 and 0.25% per year for accounts over $5,000 after the first month.

Not For Experienced Investors: Those who are knowledgeable about investments may not find the app suitable for them. The company does not offer advice from brokers and does not allow investing in individual stocks. Dividends are not automatically reinvested. These things tend to be turnoffs from many investors with larger accounts.

No Website Availability: Some users complain that the only way that they can access their investments is through the app. Certain investors would like to track their portfolios online on their desktop computer or laptop.

    Money Making Tip

    People think that making money online means chasing down an elusive job or peddling crap to your friends & family that they don't need. That's just a recipe for losing patience & people that you like. Let's stop all that BS, there is a better way...

    This Tip Box Was Proudly Built With Thrive Content Builder

    No Financial Education Resources: The company does not provide information for new investors on the different types of investments and how to invest properly for their financial goals.

    Stash App Alternatives

    Stash App is a good tool for beginning investors but it does have its flaws. There are several financial investment apps online available for you to consider. Two popular choices out there you might want to consider are Acorns and Digit. Both of these smartphone apps have more investment features than Stash and can help you with your spending and savings goals.

    So Is Stash Legit or a Scam?

    The stash app is a legitimate investment app for those who are new to the world of investing. New investors with under $5,000 can start a new account with only a $5 deposit. The first month is free with a $1 per month subscription fee thereafter. The app makes investing easier to understand, but experienced investors will find many features lacking for their individual financial needs.

    Now that you have read all the other Stash reviews as well as mine, you should have a complete understanding now of the app and its offerings. The Stash app can be a useful tool to use with your multiple streams of income. However, its fees are pretty expensive for investors with larger accounts. If you want other ways to make passive income, I would invite you to check out my  Top Work At Home Recommendation, FusionCash.comSwagbucks.com and my Work At Home Courses. If you have any experiences with this app, I'd love to hear your comments so please feel free to post them below. And if you enjoyed this review, please free to check out my other work at home reviews as well.

    Until next time,

    Eddy with a y

    Sponsored Ads

    Share This Post!
    Click Here to Leave a Comment Below
    Justin C. - July 21, 2017 Reply

    I can’t honestly say that I am excited about the Stash App. With no real help or guidance it seems like you are all on your own. Since the app is supposed to build confidence in those who are skeptical and intimidated by trading, I feel there should be some resources available through the app that in a way guide you in the right direction. I do think that this app can serve a valued position in one’s arsenal. But it can’t be the sole tool in the bag. I do like the valued-based categories, the questionnaire, and the customized portfolio so you are not entirely on your own. I believe this app has a ways to go, but might still be worth considering. Great article Eddy!

    Justin C. - July 21, 2017 Reply

    I can’t honestly say that i am excited about the Stash App. With no real help or guidance it seems like you are all on your own. Since app seeks to simply and build confidence in those who are skeptical and intimidated by trading i feel there should be some resources available through the app that in a way guide you in the right direction. I do think that this app can serve a valued position in ones arsenal but it can’t be the sole tool in the bag. I do like the valued-based categories, the questionnaire, and the customized portfolio so you are not entirely on your own. I believe this app has a ways to go but still is worth the consideration. Great article Eddy!

      Eddy Salomon - July 21, 2017 Reply

      I guess it all depends on your needs. Thanks for sharing your insight.

    Andrew G - July 20, 2017 Reply

    I have not seen this, but have seen Acorns advertised and then downloaded the app. Only to find that I never have yet taken the time to open it up and use it, even though it sounds interesting. The BBB rating is very important so this is way too scammy for the average investor I would say, hopefully not too many have lost their savings.

    Ryan - July 20, 2017 Reply

    I actually got Acorns first. I liked the simplicity, and not being confused with all the extra stock market mumbo jumbo. My job was offering a deal to start an initial $5 investment with Stash and receive a $10 credit to the stash. This is only short term for me, since I am new to the game. I like both apps. But i like the fact that Stash lets me know what type of stocks I am investing in. Overall, I don’t think rewards programs to, earn money, can even touch investing. Even if it is a measly app, for me, its a great way to get into the game without wasting hours of my life earning rewards points with other companies. When someone invests in the stock market, they are really making the money work, while they literally don’t have to lift a finger in the process.

      Eddy Salomon - July 20, 2017 Reply

      I’ve actually reviewed the Acorns app so I’m familiar with it as well. I agree in general that investing your money is the best way to make money since it’s totally passive. But that’s assuming you pick the proper investments and you have the delayed gratification to wait for it to grow. Reward sites are good for short term cash. It pays you for things you’re already doing. So I don’t think you need to pick between the two. I’m all about multiple streams of income. So make investments through apps like this and working on reward sites can be a great combination. You never just want to have all your eggs in one basket.

    Joe Petruzzi - July 19, 2017 Reply

    Honestly, the $1 a month fee seems reasonable. I certainly would not feel too bad about starting Stash if I knew this was the worst that could be charged. The only concern is, can I back out of the monthly fee at any time? If not, then this could be dangerous as other up selling or fees might come into play. Either way, great review, you have peaked my interest and I look forward to researching this a little more.

      Eddy Salomon - July 20, 2017 Reply

      You can cancel your account at any point. So if you don’t think the app is making you money and the $1 monthly fee is losing you money, then you can cancel.

    Joey - July 19, 2017 Reply

    Thank you.  This is a great review of the Stash app. Stash and other similar apps are going to be the new norm for investing, especially for long term, buy and hold investors. I’ve been saying this for years… you don’t need a financial adviser anymore. Why would I pay someone ridiculous fees and commissions for a simple 60/40 stock, bond portfolio I can build myself.

      Eddy Salomon - July 19, 2017 Reply

      I guess it all depends on how comfortable you are investing on your own. I know it’s always been an unknown to me. But I think apps like this will help educate newbies like myself to feel more confident. Thanks for chiming in.

    Dennis - July 17, 2017 Reply

    Hey Eddy with a Y, thanks for the very fair review of Stash. I was thinking of doing some investing on a small scale. I think I will give the app a try so I can start following the Icahn holdings portfolio. The only concern I have is the low BBB rating. Hopefully, that will improve as more people put their reviews.

      Eddy Salomon - July 17, 2017 Reply

      Hey Dennis,
      You’re very welcome. Take the BBB reviews with a grain of salt. I know a lot of people want to live and die by them. But I tend to just use them as one of many points of research. I wouldn’t let it stop you from giving the app a try and making your own decision. Hey, I checked out your site. It’s very informative. What’s the best way to reach you? I have a question about it.

    Leave a Comment: