Update 7/17/22: They’ve extended the offer for lifetime membership through July 26, 2022.
Additional clarification: “If you have less than $4.95 in your Stockpile account and you don’t take any action, your account balance will go to $0 when the membership fee is drawn. You will not hold a negative balance, and you will not receive any further bills. Your account will also be automatically closed.”
Original Post:
Stockpile, a stock gifting platform known for their credit card funding, is transitioning to a paid membership model. The change will take place on July 15th. There are two options:
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Lifetime membership: Pay a one-time $19.95 fee and get lifetime membership. The lifetime membership offer for current customers is available now for $19.95 through the end of June 2022. Each lifetime membership includes 1 adult brokerage account and up to 5 kids brokerage accounts. When children reach the age of majority, they will still be able to keep their lifetime Stockpile access.
- Monthly membership: Costs $4.95 each month. Each membership includes 1 adult brokerage account and up to 5 kids brokerage accounts.
You’ll automatically be charged the monthly fee if you take no action. Presumably accounts that have no funds in them will not have a charge, let us know if you can verify this point.
You can close your Stockpile account by going to the Help blurb at the bottom-right of the screen, then Search “close” and the top result should be the closure form which you can fill out.
Those who use Stockpile might find the $4.95 monthly fee worthwhile. The $19.95 fee could be an excellent deal as well for someone who gains from the service, whether the credit card funding or otherwise.
Currently, you can get $2,000 in credit card funding per year with Stockpile, so some might consider it worth the $20 to get that for the upcoming years. Of course we don’t know if that will last or if the company will last forever.
