Stash Investing has increased the monthly fee on the basic Beginner plan from $1/month to $3/month. The change will go into effect on August 1, 2022. Existing customers on the $1 plan will have their fees bumped to $3 as well. (Email Subject: Time for a change)
A lot of us did a Swagbucks signup offer for Stash in the past.
We’re reaching out to share an important update with you regarding our Stash plans. As we continue to enhance our products and features to help you invest with even greater confidence, the $1 Stash Beginner plan will no longer be available as of August 1st, 2022. This means you won’t be able to downgrade to the $1 plan.
There’s no action required at this time. If you have any additional questions, you can learn more here. For up-to-date info on our disclosures, we encourage you to read the latest version of our Brochure and Advisory Agreement or check out our website.
Hat tip to RobertL and YTHO
I signed up several years ago for the $1/month plan. It’s now June 2023 and I’m still on the $1 plan, they never changed it. Now I don’t even have the option of changing to the $3 plan in the app. I can only upgrade to stash plus for $9.
Stash has worked well for me, but I moved my money around a lot. I made about $200 in returns from my stocks and sold most of it last Christmas to buy my kids an oculus.
Now I pretty much just keep it because I have a custodial account for my son that has grown quite a bit(again I moved the money around to better stocks when I needed).
It would be nice if I could change to the $3 plan because it offers a “smart” portfolio that is managed for you depending on your investment profile.
Hi,
I am trying to sign up for the Swags bonus. They require me to open an IRA account which I already have one? I’m not able to skip this step. I don’t want to cause hassle just to get the bonus.
Thank you for your help in advance.
Why on earth would you want to sign-up for this trash? Read below for all of the negatives that have evolved over the past year.
I google-searched about my mystery monthly subscription fee increase from $1 to $3, and wound up here at doctorofcredit site to find my answer.
Wow.
Okay, so I enjoyed Stash for $1 a month. It was fun during the pandemic, and their newsletter/article/weekly stock market updates were great!
Plus the Stash Parties 🙂 .
It was fun and I learned lots 🙂 !
But since I’m not a serious investor, $3 is too much. Especially since I’m still paying off 2 pandemic loans … another bill (even only $3) is just not fun.
ANYWAY – I just closed my account at Stash.
I hope they send me the value of my stocks but its ok with me either way cause I didn’t have much invested and I had fun for 2+ years.
It’s after midnight here, MountainTime, so it was great to find this article online to solve my mystery, THANK YOU 🙂 !
-Irene.
At what step in the closure process do they offer you a retention offer? I got to the step of them saying they will close my investment and bank account a few clicks in. Not sure if they will offer me anything if I proceed.
Nevermind. If you select the reason for closure = I’m not making money, the retention offer will show.
Took a while but sold everything I got from those parties and stared the closing process. Anyone else get those warnings about never being able to open a Stash Bank account again? Are they scare people from closing, very strange
I don’t get how the beginner plan is going away in a few days yet they are still actively promoting it on their website
The same reason they are no longer accepting any feedback when you close your account, and that their text notifications hardly work, or they give the same canned response to every complaint on their Twitter feed. This fintech “company” sucks.
Has anyone gone though the transferring out to another brokerage process with stash?
I initiated the closure via the app last night and they offered me $3 to stay, so I accepted as my fee hits on the 15th of each month. I’ll initiate the closure by the end of July and let their ~10 day process of doing so take place before the first $3 monthly fee hits in August — assuming that actually happens per their terms/conditions of the closure.
you cant withdraw promo money for 90 days
Got offered the same thing. I wonder if they let you withdraw those $3 since it will be less than 90 days from receiving it. Not sure if the 90 days rule applies to bonuses only and what they consider these $3.
Good point. Guess I’ll find out soon enough!
The $3 retention offer is definitely considered promo money. I’ll wait for my whopping $0.07 in HD stock from last night’s amazing party to hit and then bu-bye!
Hmm, about 3 clicks in.
Thanks. It actually showed up under the reason for closure of I’m not making money. It didn’t show up on the original reason I chose.
It wasn’t too far in at all…3 clicks max. And here I sit still waiting for the closure to happen. Stash is trash. Get out ASAP.
I feel dumb for letting the $3 fee to hit today. I was hoping for a better retention offer but it’s still $3. I wonder if I closed yesterday, would I have gotten the fee today.
My fee is due on August 15. I requested to close August 1 but the membership is continuing until the 15th and there’s no way around that it seems. I’ll be pissed if they nickel and dime me for $3, but I don’t think they will.
Account closure is underway. I invested my $3 retention promo credit into one holding and they don’t seem to be clawing that back. They have also not charged me the $3 fee which ordinarily hit the 15th of every month. I thus think I will end up profiting ~$72 (which includes the $50 sign-up bonus) over 13 months via this amazing “company!”
I have never spent so much time selling so little stock for so little money… working off and on for the last 2 days selling off my umpteen fractions. But I’ll be DAMNED if I’m leaving even my $0.03 in Peloton when I close my account lol
Why did it take so long? Is it because you have so many stocks or some other reason? Are you able to withdraw the funds when it settles 3 business days later?
Just because I had a bazillion fractional stocks from those stash parties and had to go through 6 or 7 clicks to liquidate each one. It doesn’t remove them from your portfolio until after the sale, so I’d do a bunch, forget which ones I’d done, stop, then when I got the emails saying the orders had processed, I’d go back and do more. Still waiting the 2-3 business days for them to settle. Will go back in and transfer out my windfall sometime next week.
After a stock is sold, you will see it marked with a pending transaction in the portfolio. But it still took me about 20 mins to sell my 60-ish fractional stocks through the app, definitely painful.
A Churner of Churns
Your comments are making me remember why I kept on procrastinating selling off everything. I’ll probably wait for 1 more Stock Party and then will sell everything off and close the account hopefully before my next $1 fee gets charged.
Is the only way to sell stocks on the app (rather than on desktop) or did you just do it that way for a different reason?
I did not check the desktop interface. I was just playing with my phone and decided to do it.
Seems like I didn’t see an easy way in the app, so I went to desktop to find one.
Exact same here. I feel seen.
If you close the account, your investments are sold and $ returned to your bank per terms here: https://ask.stash.com/ask/how-do-i-cancel_stash_beginner_subscription/
LOL, NOW YOU TELL ME?????
I don’t like this part: “The complete process can take up to 10 business days.” If I do it all manually, it shouldn’t take more than 3 or 4 business days.
In May I got a $30 bonus offer to reopen my account. Took it and the bonus posted almost instantly. However now when I do to withdraw my funds I am unable to withdraw the bonus amount, and I see a message that says bonuses are ineligible for withdrawal until 90 days after positing. I’ve done a reopening offer before and don’t recall this restriction but I could be misremembering. In any case, I think this will be more of an issue now that they’re hiking the fee to $3/mth – a $30 bonus minus taxes and $9 in fees probably isn’t worth doing. Fortunately I think I’ll only have to pay the $3 fee once before I’m able to zero out and close.
The 90 day restriction has always been there for referrals & I assume other promotional bonuses. Both P2 & I got offers for reopening which should become available shortly before the new fee schedule kicks in. P2 got a $40 offer instead of $30, added $10 in a separate posting, but also posted another $30, so there’s $70 waiting & has been for a while. Gonna cash that and bounce, good riddance, Stash.