I signed up for Stash after seeing an ad on Facebook. They were advertising, "Get $50 to invest after making your first $5 deposit." I decided to sign-up and deposit $5 to give it ago. Went through the sign-up process, linked my bank account, and deposited $5. Invested the $5 to their "Smart Portfolio" since I'm not familiar with investing. A few days later I sent an email to their support team inquiring about the $50 and was told it would take 2-4 business days and that it was confirmed. I waited 4 business days and logged into my account to see the $5 I deposited was missing from the "Smart Portfolio". I sent an email asking about the $50 sign-up bonus and to inquire about the missing $5.
The reply I got back was, "Unfortunately the transfer of $5 that you initiated to receive the Quick Start promo never actually made it successfully into your invest accounts. Because the terms state you need to complete a transfer of $5 into your account and you did not our system retrieved the promotional funds back. You do however have until 4/30/2024 to deposit $5 successfully and if you do you can contact us again and we can apply a new Quick Start promotion with the same terms but for a $5 & $5 value this time."
I contacted their support number who put me on hold for 5 minutes after listening who then returned to tell me the same thing. I asked how, if it never made it there, I was able to invest with it. She told me it's just their system and that it happens and that I was no longer eligible for the bonus, which is fine, because I instructed her to close the account.
I'm glad I did not deposit more than $5 and even more happy that I decided to wait to turn on "Auto-Invest". I'm down $5 to company who has no idea where it went. Avoid this company. After reading other comments on that ad on Facebook, I'm not the only one who has had issues with this promotion. They bait you into depositing and signing up for the app, which has a monthly subscription fee by the way, and make it to where you can't take advantage of a promotion. Lesson learned. Scam company.
