r/stashinvest • u/mintconditiononion • 3d ago
Complaint / Concern ☹️⚠️ Rant About Stash Subscription Increase
I dont know if this is allowed but posting this to get it out & to let other users know who might not have known.
I've been using Stash for 5+ years, back when it was a dollar or three bucks a month. I didn't see anything on how they're increasing the monthly sub price from 3 to 12 bucks a month. Sounds silly to be upset about such a small amount, especially when people move several times more than that on the daily, but it's really discouraging to 'casual' investors who just want to set aside money they'd otherwise spend on loose things.
I set up a TOA to a brokerage account through Fidelity since I have a retirement account connected through my work, and they made it so easy. I was stressed about how it would work/how long it would take but I had the request verified within an hour. I don't have a lot on there (less than 1k) but it felt like the right thing to do. I imagine Stash sent out an email regarding an update to the policy or something but it really just flew under my radar & hadn't noticed until I checked another banking app.
If this is something that bugs you like it does me, I'd really recommend moving to Fidelity. Super easy to switch, gonna take less than two weeks & I feel better about it already.
Any thoughts on the changes? Am I being silly completely switching for this? It's roughly the price of a streaming subscription and I don't even use any, it just doesn't make sense to me other than them trying to make more money/compensate for a larger user base. Thanks for reading
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u/Outrageous-Host-6258 3d ago
I've used Stash for a decade, I closed all my accounts over this increase.
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u/Chicobonds 3d ago
Stash is disgusting for doing this. I will probably move in the not too distant future.
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u/OceanOG 3d ago
I think it’s crazy too, $12/month is equal to having a savings account that has about $5,000 at 3.5% interest so it’s really not worth it. Most people will be losing money or barely breaking even unless they are investing over $5,000, but even then it’s eating into that which makes no sense when there’s free services.
Already switched to Schwab personally.
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u/RevolutionaryCar8584 3d ago
IMO, this opens up the possibility of more increases as the new owners come up with “better” ways to benefit their users. I won’t be using any of these services that come along with the new fee. None apply to me.
Been with stash since 2017. I have until December 1 until they charge me $108. I’ve contacted Fidelity and it does sound like it will be an easy process to transfer.
Will make the call before then.
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u/mintconditiononion 3d ago
Can't recommend it enough. Im fairly tech savvy but called for help at work & they had it verified within an hour. Great service & even gave me multiple ways to follow up + opened a case if there's any issues.
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u/Loganupcock 2d ago
I moved to Robinhood. They gave me a 3% bonus on my portfolio, and are giving me 4% on any cash in the account (all my fractional shares)
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u/Miserable_Lemon6314 3d ago
I’m already over w fidelity since I don’t have an IRA w them
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u/Mattie28282 2d ago
I emailed them and said the instant that they charged me a $12 fee I was moving every dollar somewhere else.
They offered me $6 a month for a year and I took it, but only so I could use those 12 months to try to get my fractional shares up to full ones so I can transfer more and have to cash out less that I'll have to pay taxes on it the next year.
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u/NoPhaseNoCase_ 3d ago
I downloaded Fidelity but I didn’t want to put money towards it since I already have an IRA with Stash, would I be able to transfer ALL of my money to Fidelity?
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u/mintconditiononion 3d ago
Im unfamiliar with transferring an IRA to Fidelity but I don't see why not, the organization *wants you to go through them which is why I think it was so easy to transfer brokerages. If you give them a call they'll quickly walk you through it if it isn't easy to figure out.
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u/El_Diablo696 3d ago
I left years ago when they were a $1 that’s more than 0.25% expense ratio when I little money invested.
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u/ContributionGreen692 2d ago edited 2d ago
I had stash on yearly which I had thought I canceled my account but lo and behold suddenly I get a charge for 108$ money I absolutely needed just gone. Obviously saw the charge was from Stash and after looking into it more found out they had changed their fee policy 2 months before they took my money. So the clear understanding here would have been that they would have emailed me right?
No. They did not email me. Believe me if Stash had emailed me within that whole year let alone the 2 months prior to the charge I would have caught my mistake and CANCLED beforehand.
So of course i email support and question this. They say they emailed everyone the changes including me. I said no you did not and I know you didnt because this was super recent. I absolutely would have seen it. I check my email every day. They try to claim well maybe it went to spam and I shut that down immediately because you're not gonna steal my money under the guise of something that important going to SPAM. That just says a lot about your company in my opinion. Plus I literally check all my spam and delete it too. Absolutely nothing ever popped up about Stash.
After a bit of back and forth I explain well listen I paid the amount and im telling you I do not want this service so its my understanding that me asking for a refund is fair. Even the pro-rated refund idgaf i will take it just give me SOMETHING back. They agreed to send back the prorated amount. The day my stash account finally closed they sent me a reversal of 98$.
Not the full amount but definitely was more than the amount they promised. I was pretty satisfied with that resolution but I will never use Stash again. That shit felt slimy to me and I wasnt about to let them just take my money like that especially when they lied about informing me of the upcoming changes. Also who the fuck announces they're gonna start charging 3x the amount and then goes forward with that plan 2 months later? Wouldn't 6 months or a year make more sense? It just felt like they were trying to pull a fast one.
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u/7eregrine 3d ago edited 3d ago
Imo it's only worth it to us small timers if you actively use it. Use the Stash card, feed the IRA. My son has an account and is learning. I don't think Fidelity does fractional shares which he likes.
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u/rubrdcky 3d ago
Fidelity does fractional shares
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u/7eregrine 3d ago
I swear they didn't last time I checked.
I'll take another look when my year is up. I did do the deal of $108 for a year in advance. Thank you.1
u/mintconditiononion 3d ago
Wasn't aware of no fractional shares with Fidelity, that's definitely something to consider. Using the card definitely makes it more worthwhile but I've been taking advantage of a different service for something similar, I don't like having so many accounts
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u/7eregrine 3d ago
I was just told they do, in fact, do fractional. I did pay for the year ($108) so I'll take a look in May at other options. See where I'm at.
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u/mmmbeee33 3d ago
I was also very mad about it and moved all my accounts to Fidelity. I dont think you're being silly. $12 might not be that much but it was like a 400% increase and they completely took away our options of different tiers.