StashAway Referral Programme
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About StashAway
StashAway is a digital wealth management platform that invests your money in low-cost, risk-managed portfolios of ETFs.
It was founded in Singapore, and is now present in Thailand, Hong Kong, Malaysia, and MENA.
As of 2023, the team has more than 180 people representing more than 25 nationalities in 5 countries.
Accolades
Year 2023:
- The Financial Times’ Top 20 High-Growth Companies, Asia Pacific 2023
- The Straits Times Top 5 Fastest-Growing Companies in Singapore
- CNBC’s Top 200 Global FinTech Companies, 2023
Investor backing
StashAway has raised more than $61.4 million USD in fundraising over the course of 6 fundraising rounds.
Licensed by Monetary Authority of Singapore
StashAway is a brand of Asia Wealth Platform Pte Ltd (201624878Z), which is licensed by the Monetary Authority of Singapore (CMS100604).
Why StashAway?
Notable features
Investing SRS in Simple Guaranteed
With Stashaway, users can invest their monies in their SRS account in Simple Guaranteed to get guaranteed tax savings and guaranteed returns.
Experience sharing
Quick and easy to deposit funds and get started
In the past, it took days to be able to deposit funds and start investing. StashAway has since addressed this issue with eGIRO FAST. I received the following in an email on 28 May 2024:
We’re upgrading our eGIRO service to eGIRO FAST. This means your deposits will reach us immediately, allowing us to allocate them to your portfolio and start investing them within 1 business day.
Read about the previous inconvenient process
I feel the process to deposit funds to invest takes too long.
The current process to invest in a “StashAway Simple Guaranteed” portfolio (as of early May 2024) is as follows:
- Create a deposit request to direct debit from my linked bank account.
- Stashaway will arrange to withdraw funds on the next business day.
- After StashAway receives the funds, it will send me an email like:
- We’ve received $X,000.00 SGD, for your portfolio(s). It takes 1 to 3 business days to process this, after which the money will be reflected in your account and portfolio(s).
- Wait for funds to be into portfolio first, then lock the “StashAway Simple Guaranteed” rates at specific window timings.
This tedious process takes days. I hope StashAway can streamline the process further.
SRS investment into “StashAway Simple Guaranteed”
I invest some of my SRS funds into “StashAway Simple Guaranteed”. As of May 2024, this product offers 3.75% p.a. for a 3 month lock up period which is rather decent.
How to transfer funds from one StashAway portfolio to another?
In July 2024, one of my “StashAway Simple Guaranteed” portfolio matured and I wanted to transfer the funds to a “StashAway Plus” portfolio which had an indicative yield of 4.5% p.a.
I reached out to StashAway customer service via WhatsApp and due to high volume of enquiries, I only receive the following reply the next day:
At your homepage, tap “Transfer” at the bottom of the screen and select “Transfer” > Choose either “One-time transfer” or “Recurring transfers” based on your preference > You should then be able to select funds from the Simple Guaranteed portfolio to transfer to the Simple Plus portfolio.
Disclaimer
All investments involve risks and are not suitable for every investor. There is always the potential of losing money when you invest in securities or other financial products.
Investors should consider their investment objectives and risks carefully before investing.
Content in this article does not constitute as an invitation, inducement, recommendation, suggestion, or solicitation to investing.
Auntiehuat
Web Administrator
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