With the economy continually taking us on a rollercoaster, investing your money into sound investments can be just the lifeboat you need in order to stay afloat during the rough times.
While many are wary of investing, there is an app to help you do just that with security measures in place to make sure your cash is safe.
What is Stash?
Stash is an app that invests your spare change. This means that every time you swipe your card, Stash detects the transaction, rounds it up to the nearest R10 and invests your spare change. This small amount of spare change is then invested in SA’s Top 40 Biggest Companies.
As these companies grow, so does your Stash.
Introducing the Stash App, Image Source: Stash.co.za
What is the Maximum you can Stash Each Year?
The maximum is currently R33 000 from 1 March to the end of February each year. If you exceed this by investing in more than one tax-free savings account elsewhere; SARS will ask for 40% of the amount you go over by.
Hot Tip: Currently, stash allows you stash R500 000 over your lifetime
Is Stash safe?
Yes. Stash uses state-of-the-art 128-bit bank-level security. Your personal information is anonymised, encrypted and securely stored.
Stash is backed and operated by Liberty who has been creating new ways for South Africans to ensure, save and invest for over 50 years.
How do I Protect my Stash and How Secure is the App?
With a PIN and (if you phones support it) your fingerprint.
Which Bank Cards Can I Connect to Stash?
Any debit, credit or cheque card from FNB, Standard Bank, Absa, Nedbank, Investec, RMB, Capitec and Discovery Card (VISA and MasterCard).
Does Stash Cost Anything?
Stash is absolutely FREE! You will see ‘Hello Stash’ transactions on your bank statement, but these are just transfers to and from your Stash.
Which operating system does Stash work on?
Though only available for Android, for now, an iOS version of Stash will follow.
Stash That Cash!
With Liberty targeting users between the age of 18 and 28, the aim is to guide and help those who are not generally inclined to save or invest; due to the stigma that comes with investing and its complexity and labour.
Signing up is as easy as downloading the app, punching in your first name and your phone number and voila, you can begin investing!
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