Less than two months ago I shared with you the exciting news that we launched Stock-Back: the first rewards program that gives you stock when you spend through Stash Banking.
Today I have an update: Stashers have already earned Stock-Back over 1 million* times!
That’s an incredible milestone for the more than three million customers who make up the Stash community, and we couldn’t be prouder of you. You’re showing us that not only are you building your portfolios to save for your future, you’re making smarter decisions about your everyday finances. And you’ll be leaving hidden bank fees behind, turning your spending into another opportunity to invest.
So if you don’t already know, what is Stock-Back? It’s our rewards program that lets you earn stock when you spend with your Stash debit card1. Simply make a purchase at any of the 10+ million businesses where Visa is accepted and you can get rewards in the form of a fractional share of stock, on us2.
For example, if you buy something from Amazon, you’ll earn AMZN Stock-Back as a reward. Buy burgers and fries at McDonald’s—MCD will hit your invest account. But it’s not just these businesses, you can earn Stock-Back if you spend at any company whose stock is currently available on the Stash platform.
And if you spend at a company that isn’t available as an investment on the Stash platform, you’ll earn Stock-Back in the Stocks Worldwide ETF.
We’re delighted to offer a debit account that not only charges zero overdraft and monthly maintenance fees3, but actually gives you rewards as you spend. While credit cards often give rewards, most debit cards do not.
Who’s earning what?
So what are the top places that Stashers are earning their Stock-Back? The top three places are Amazon, McDonald’s, and Walmart. Each of the places has been featured in our monthly Stock-Back bonus offers, which means that Stashers earned extra when they spent there during the bonus period. The Amazon and Walmart 3% bonuses are still live now, so you can start to earn some extra stock at these places and more once you’ve enrolled in the Stock-Back program. See all of the current bonuses here.
Also at the top of the Stock-Back list are gas stations, restaurants and grocery stores. It’s great to see Stashers pulling out their Stash debit cards to make these everyday charges, and get them with a side of stock. 🙂
The top investment Stashers have earned from Stock-Back though isn’t a big company stock, it’s the Stocks Worldwide ETF. Why? We give you a piece of this global fund when you spend at companies without a publicly traded stock on Stash—like your local car wash, florist, or pizza place.
More about Stock-Back
Once you enroll in Stock-Back, you’ll earn 0.125% of your purchase back in stock every time you spend4—or up to 5% when you spend at a bonus merchant5. Those small amounts can add up to real value as you use the card over time. The stock you earn on qualifying purchases will be added to your investment account automatically.
How to enroll
To earn Stock-Back, you need a Stash investment account and debit account. You can open a debit account in the Stash app in minutes—and there are no additional fees to open the account.2
Stashers want more from their financial institutions than unnecessary fees and charges for using their own money. We think Stock-Back is another building block to enable you to take control of your finances.
So happy Spring, congrats on reaching this milestone and keep on Stashing with Stock-Back! Together we are creating a banking revolution.
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*As of May 15, 2019