Step 5 – Secure Your Account
Now, you need to secure your account. For that, all you need to do is provide your social security number.
You’ll also be asked some legally required questions and if you’d like to add a trusted contact in case there’s any suspicion of fraud. But answering the legal questions takes 1-2 minutes as they don’t apply to most people. And adding a trusted contact is optional.
Step 6 – Set Up Automatic Funding
Next, you’ll be asked to fund your accounts. To do that, you’ll be asked to select a transfer schedule for your personal investment portfolio and Stash banking account.
You can choose to put nothing in the Stash banking account. But if you want to get the Stock-Back® Card that rewards you with stock after certain purchases, you need to deposit money in your Stash banking account.
You can change your automatic money transfer schedule at any time.
Step 7 – Link Your Bank Account
To fund your account, you’ll need to transfer funds from a checking account. So, the next step is linking your bank account.
But before Stash can link your checking account, you’ll need to verify that the account is yours. Depending on the method you use, this can be done instantly (using Plaid) or manually, which takes around 3 business days.
Once the account is linked, it takes an additional 2-4 business days for the money to transfer from your checking account to your Stash account.
Note: You cannot fund your Stash investment or banking account using a credit card.
Step 8 – Decide Whether You’d Like To Invite A Friend
You’re almost done with setting up your account now. Now, you just need to decide whether you’d like to refer a friend to Stash.
This step is optional. So, no worries if you’d like to try Stash on your own before recommending it to anyone else.
But, if you do refer a friend and that friend opens a Stash account, you could both receive a $20 credit to buy stock in a company of your choosing. You can also refer your friends later and earn up to $1,000 in bonus investments.
Step 9 – Choose Your Investments
Once the funds reach your account, you can begin choosing your investments.
If you’re not sure what to invest in yet, you may want to consider subscribing to the Stash Growth or Stash+ plans. As a member of either plan, you gain access to Stash Smart Portfolios. These investment portfolios are automatically balanced and managed by Stash to fit your risk tolerance.
If you want to invest on your own, you’ll buy stocks through your Personal Portfolio. Within the Personal Portfolio, you can search companies and ETFs.
Although the Personal Portfolio is less hands-off than a Smart Portfolio, Stash still makes using this DIY investment portfolio easy to use for beginners by showing you a curated selection of stocks, companies by industry, and ETFs by categories that are easy to understand.
You can also take advantage of the investment advice within the app to learn more about how to invest in stocks and ETFs.
