How To Withdraw Money From Stash Invest

How to Withdraw Money from Stash Invest

If you have a Stash account and are tired of paying the broker's monthly fee, you may want to take your business elsewhere. Here's how to do just that:

First, Link Your Bank Account

The first thing you'll need to do is link your bank account. You can easily do this on the dashboard inside your Stash account. Just click on the Home link in the top row of icons, and you'll get a page where you can establish a link to your external bank account.

On the new page, Stash's software will present you with several icons of major banks, such as Citizens Bank, Wells Fargo, and Chase. If you don't see your bank, you can do a search by name. During our test drive of Stash's software, we were able to find several small banks. When you select your bank, you will be able to quickly link it using your log-in credentials. There's no need to enter account and routing numbers.

If you don't find your bank, you can add your account using account and routing numbers.

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Next, Move Your Money via ACH

Once you have your bank account linked, you'll be able to quickly move cash from your Stash brokerage account to your external bank account with Stash's transfer tool, available on the website and its mobile app.

On the app, just tap on the Transfer icon in the lower row of menu choices. Then enter the amount you want to move. ACH transfers do take a few business days to complete.

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Alternatively, Request a Paper Check

If you don't want to link your external bank account to your Stash account, you can instead request that the broker mail you a paper check. This service does cost $4, which will be deducted from your cash balance.

ACAT Service Is Also Available

If you don't want to sell any securities in your account, you could also do a full account transfer to another broker via the ACAT system. To do this, you'll want to begin at the new broker and request a transfer there. Keep in mind that Stash charges $75 for its end of the bargain.

Alternatives to Stash

If you're using Stash for its fractional-share trading service, there are several other brokerage firms you can choose. Sofi Invest, M1 Finance, and Public are a few examples. Like Stash, M1 Finance offers banking tools.