STASH Bridges Gap Between Banking and Investing With Stock-Back
In few instances, true innovation can be seen in the financial industry. Today, however, STASH has announced a new gamut of mobile-first banking services, released alongside Green Dot Corporation and Green Dot Bank. One of those features is “Stock-Back”, a new service that allows customers to earn fractional stocks based on the purchases made through a STASH debit card.
The best part of this new service is that you can potentially have stock in the brands that you monetarily support on a regular basis. Imagine a feature of your bank card that allows you to earn stock in whatever it is you buy. Now you can do so with “Stock-Back”, purchasing fast food, making online purchases or paying bills and earning the publicly traded stock of those companies.
“80% of Americans are living paycheck-to-paycheck…. Stock-Back is our way of utilizing STASH’s smart, patent-pending technology to help people build better financial habits and invest in their future. Our ability to give customers the opportunity to save and build portfolios that mirror their spending behavior and preferences is incredibly powerful. During the testing period, we saw an overwhelmingly positive response from users as they pay ordinary bills like Netflix, and in return received Netflix stock as well as access to dividends, educational resources and financial advice. It’s a winning combination.” said Co-Founder and President, Ed Robinson.
Trading and investing has, for a long time, been an activity that seemed out of reach for many. Either it was too costly or too confusing, as many trading platforms tend to assume your knowledge of stocks, ETFs and dividends is workable enough to take part in building a portfolio. With Stock-Back from STASH, you can essentially build a portfolio of stock that represents the companies you frequent.
Who knew your next steak bowl from Chipotle would come with a side of publicly traded stock?