Stock Back Rewards With Stash

Why use Stash?

What is Stash? Simple answer: Stash is an online banking platform.

Online banks are banks that operate without physical branch locations. Without the costs associated with having a physical brick and mortar location, these banks tend to have lower or nonexistent fees and higher interest rates than traditional banks like Wells Fargo or Bank of America, for example. Most have no monthly fee, and some don't even charge overdraft fees. You will never have to meet face to face with a banker, and you can manage your account(s) at anytime on a computer or mobile device. These banks also provide ATM access through networks like Allpoint. 

Why Stash as opposed to another online bank?

Stash does something entirely unique to the banking sector: Stock Back Rewards. Theses rewards function the same way as a cash back rewards does, but instead of receiving cash for your purchase, you receive shares of the company. For example, during Amazon's Prime Day promotion, Stash ran a promotion of their own giving paying out 3% in Stock Back Rewards. So if you spent $100 on Amazon, you would receive $3 worth of Amazon stock. It may not sound like a lot, but these rewards add up. Especially if you are using your Stash account to pay your bills. For example, if you have a $200/Month AT&T wireless bill and a $100/month Direct TV bill, within a few month, you would have received enough in Stock Back Rewards to own an entire share of AT&T, who also pays out a healthy dividend. 

Over the span of a few years, with rewards and reinvested dividends alone, you will surely own several shares of AT&T. If you purchase from a privately owned company or a company not supported on the platform. Your reward will be paid out in the form of shares of your preferred ETF, which also likely pays out a dividend. The best part about a Stock Back Reward is that you are far less likely to end up spending it than with a cash reward. Let's face it, when your Credit Card gives you cash back, most people just apply it towards paying off their balance at the end of the month or just end up spending it. A stock back reward on the other hand helps you gradually build wealth over time.

Need to deposit cash? no problem. With other online banks you may run into difficulties if you want to deposit cash, but your Stash account is affiliated with Green Dot Bank. This allows you to deposit cash at participating retailers. This also mean your bank account is FDIC insured. 

Buying Stock on Stash: The platform also allows you to outright purchase stocks. While accumulating stocks via rewards is a great way to accumulate shares of your favorite companies, it is certainly not the only way to build your portfolio. You can accelerate your growth by making one-time purchases and by opting for reoccurring purchases. You can set your account to purchase a specific dollar amount worth of a particular stock or ETF weekly, bi-weekly, or monthly. Plus, you can set aside some cash in your portfolio to purchase stocks at a later date. Doing so allows you to set cash aside without the risk of succumbing to the urge to spend it. Stash also includes a round-up feature allowing you to invest your spare change.

Stash is a unique platform that allows it's users to take steps towards building wealth effortlessly. Getting started and a lack of knowledge in the field of investing has for long been a major barrier for many. Stash provides both an easy way to get started and a learning center that helps you grow your knowledge of investing and the stock market starting at only $1/month. There are many more features that make Stash great, and if you're interested in learning more and signing up, using this the following link allows you to claim $20 when you fund your account: Claim my $20. Once you've signed up, invite your friends, and you'll be able to receive $20 more for each friend that joins and funds his or her account. I will be compensated for you joining stash, but this is a platform I personally use and believe in myself. I would not recommend it otherwise.  

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