I finally got stash. My sister told me about it last year but it was only available to Android users so I pre-regiserted for IOS and forgot all about it until recently.
Stash is a Tax free investment app launched in April 2017 that allows you to invest your spare change by linking your debit, credit or cheque card to the app which then rounds off your transactions to the nearest R10.00, R20.00, or R50.00 (your choice) and places the difference into your stash account. You can also choose to stash specified amounts on rainy/sunny days, month end or you can log in and stash randomly. The app monitors your bank balance and never transfers more than you can afford and it allows users too set monthly stash limits.
Setting up an account takes less than a minute. There are no forms to fill or documents to submit and you can withdraw your money whenever you please (You will need to submit a photo of your ID and proof of residents to withdraw though). It is easy passive investing for beginners and the best part is that it’s absolutely free, no charges whatsoever. Liberty actually gives you R50.00 to start your stash journey and you get R10.00 per friend referral.
The money you’ve stashed is invested in the JSE top 40. Liberty takes care of all the costs involved in managing the investment account however because its tax free you cannot invest more than R33 000.00 per annum and/or R500 000.00 over your lifetime (This goes for all your tax free investments combined).
So lets start stashing, there are really no excuses this time.