Cashing Out Stash Investments: A Step-By-Step Guide

Stash is an investment app that allows users to transfer or withdraw money at any time. However, there have been several complaints about the platform's ability to restrict users from accessing their funds. Users have reported issues with transferring money from their Stash accounts to their bank accounts, with some stating that they had to wait several days or even weeks to receive their money. To withdraw money from Stash, one must first sell their investments and then wait for the sales to settle, which can take up to three business days. After that, the funds can be transferred to a linked bank account, which can take an additional three business days. It is important to note that there may be tax penalties for withdrawing funds from a Retirement Portfolio before the age of 59 1/2.

Transfer money from your Stash app or web account

To transfer money from your Stash app or web account, you can follow these steps:

In the app:

• Log in to the Stash app.
• Tap 'Transfer' at the bottom of the screen.
• Select the accounts you want to transfer money from and to.
• Enter the amount you want to transfer and tap 'Continue'.
• Review the transfer details and tap 'Transfer' to complete the transfer.

On the web:

• Log in to the Stash website.
• Click the accounts you want to move money from and to.
• Enter the amount you want to transfer and click 'Confirm'.
• Click 'Make Transfer' to complete your transfer.

Note that it may take up to three business days for your transfer to appear in your external account. The exact length of time depends on how quickly your bank processes transfers.

Also, if you have invested money, you'll need to sell those investments first. The money from the sale will be held for two business days before you can transfer it to your bank account.

Withdrawing from your Retirement Portfolio

You can either make a partial withdrawal from your Retirement portfolio (IRA), or you can close it completely. However, there are some important things to note before withdrawing. Firstly, the minimum age to withdraw money from an IRA is 59 ½ years old. Withdrawing funds before reaching this age may result in tax penalties from the IRS. Additionally, if you are withdrawing from a Traditional IRA account, you must review the mandatory minimum tax withholding information to avoid rejection of your transfer.

To withdraw from your Retirement Portfolio, follow these steps:

• Link your external bank account to Stash to enable fund transfers.
• Turn off auto-invest for your IRA.
• Sell a portion of your investments (or all of them if you plan to close your IRA), and wait up to three business days for the sales to settle.
• Wait up to five additional business days for any recent deposits to become available for withdrawal.
• After the deposits are withdrawable, log in to your Stash account to initiate the withdrawal process. Your funds will be sent to your linked bank account within three business days.

Closing your IRA:

If you decide to close your IRA completely, follow these additional steps after completing the above withdrawal process:

• Log in to the Stash app.
• Tap on "Retirement Portfolio."
• Tap the gear icon in the upper-right corner.
• Scroll down and tap "Close retirement account."
• Follow the prompts to close your Retirement Portfolio.
• Click "Close Account" next to "Retirement Portfolio" on the "Manage Account" page.
• Fill out the form, following the on-screen instructions.
• Wait 2-4 business days for your balance to be transferred to your linked bank account.
• After receiving your balance, select your tax withholdings.
• Ensure you follow any specific requirements for your IRA type to avoid transfer rejection.
• Your IRA will be closed within four business days, and you will receive a confirmation email.

Withdrawing from your Smart Portfolio

• Turn off Auto-Stash: Before initiating your transfer, ensure that you have turned off the Auto-Stash feature for your Smart Portfolio. This is a necessary step to enable withdrawals.
• Select the "From" and "To" accounts: Begin by choosing your Smart Portfolio as the "From" account. Then, select your desired destination account, which can be your Stash banking account or an external bank account.
• Enter the transfer amount: Decide on the amount you wish to transfer and enter it into the designated field. You have the option to withdraw a portion of your holdings or all of them.
• Confirm and complete the transfer: After reviewing the details of your transaction, it's time to finalise the transfer. If you're using the Stash app, click "Continue" and then "Transfer." On the web, click "Confirm" followed by "Make Transfer."

It's important to note that investment sales may be necessary to fulfil your withdrawal request, and this process can take up to one business day to complete and settle. Additionally, it may take up to three more business days for the funds to reflect in your bank account. If there are new deposits made to your account while your withdrawal request is being processed, both the withdrawal and the deposits may experience slight delays. The actual transfer amount may also vary slightly due to market fluctuations.

In the event that your withdrawal request is rejected, Stash will hold the withdrawn cash amount in your Stash Account for five business days. During this time, you can retry the withdrawal request. If the withdrawal remains unsuccessful, the funds will be reinvested into your Stash account.

Check your transaction activity and transfer status

To check your transaction activity and transfer status, you can use either the Stash app or the website.

Checking Transaction Activity and Transfer Status on the Stash App:

• Log in to the Stash app.
• Tap your initials (for iOS) or the hamburger icon (for Android) in the upper-left corner.
• Scroll down to the "View activity" section and tap either "Portfolio" or "Bank Account".
• Tap the portfolio you want to view your transaction history for.
• Scroll down to the "Your Transactions" section to view your Stash banking account transaction history.

Checking Transaction Activity and Transfer Status on the Stash Website:

• Log in to the Stash website.
• Click your name in the upper-right corner.
• Click "Portfolio Activity".
• Click the portfolio you want to view your transaction history for.

Understanding the Activity Status:

• If the activity status in account details shows that the transfer is "complete", this means that Stash has processed the transaction.
• If the activity status shows that the transfer is "pending", you might want to verify that your external bank is linked correctly.

It's important to note that transfers out of Stash to a linked external bank account may take up to three business days to appear in your external account. The exact length of time depends on how quickly your bank processes transfers. Additionally, transfers within Stash between your Stash banking account and portfolios are instant, so you can access your money right away.

Transfer limitations and timing

When transferring money out of Stash, it will be removed from your Stash account almost immediately, but it may take up to three business days for the money to appear in your external bank account. The exact length of time depends on how quickly your bank processes transfers. Transfers out of Smart portfolios may take additional time, up to five business days or more, if sales are required.

There are four factors that may impact your ability to transfer out of your Stash Personal Brokerage portfolio:

• Invested funds: If you want to transfer money you’ve invested, you’ll need to sell those investments first.
• Unsettled sales: Funds from an investment sale will take two business days to settle. It should be available to transfer on the third business day.
• Deposit holds: Stash holds recent deposits for up to five business days to protect its clients from fraud. Your money will be available to transfer within six business days.
• Referral and promotional funds: Referral and promotional funds must remain in your Stash account for 90 calendar days before they can be transferred out of Stash.

Additionally, if you are withdrawing from a Retirement (IRA) portfolio, there are tax implications to consider. The minimum age to withdraw money from an IRA is 59 ½ years old. If you withdraw funds from your Retire Portfolio before age 59 ½, you may be subject to tax penalties from the IRS.

Frequently asked questions