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The Best Health Savings Accounts in 2019

Editorial Note: The editorial content on this page is not provided or commissioned by any financial institution. Any opinions, analyses, reviews, statements or recommendations expressed in this article are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by any of these entities prior to publication.

So, you need to choose a health savings account (HSA) to go along with your new health insurance plan. There are plenty of options out there, and it’s easy to get overwhelmed. The best savings accounts help you save money with high interest rates and low fees—your HSA should be no different. With a high-yielding HSA, you can cover your out-of-pocket medical expenses and boost your savings at the same time.

We’ve taken the work out of finding the best health savings accounts on the market. Using data from DepositAccounts.com (similar to MagnifyMoney, a LendingTree-owned company) we scoured more than 17,100 nationwide banks and credit unions to find the highest health savings account rates available. To ensure quality and availability, we excluded institutions with a DepositAccounts health rating below a B and credit unions with restrictive membership requirements.

Health savings account deposits at all of the institutions listed below are insured by the FDIC or NCUA.

The 10 best health savings accounts in 2019

Institution
APYMinimum balance to earn APY
Great Lakes Credit Union2.00%$100
Connexus Credit Union
2.00%$15,000
Evansville Teachers FCU1.86%$500
Interior FCU1.61%$25,000
Summit Credit Union1.15%$10,000
First Technology FCU1.00%$0.01
The Adirondack Trust Company1.00%$1
Lake Michigan Credit Union1.00%$5,000
Elements Financial1.00%$10,000
Matadors Community Credit Union0.75%$5,000

Great Lakes Credit Union: 2.00% APY, $100 minimum deposit

Great Lakes Credit Union offers the highest health savings account rate on balances from $100 to $2,000. Balances over $2,000 will still earn interest, but at a slightly lower rate (more comparable to rates lower on this list).

You will need to meet a few requirements in order to earn interest on a GLCU HSA. For one, you need to receive a monthly direct deposit of at least $500. You’ll also need to make at least 15 signature-based debit card purchases totaling at least $150. Finally, you must also enroll in eStatements and be active with GLCU’s online Bill Pay or Mobile Banking features.

The account does not charge a monthly fee.

Great Lakes Credit Union was founded in 1938 and now maintains 11 branches in Illinois; however, you can also take advantage of CO-OP Shared Branches and surcharge-free ATMs. To become a GLCU member, you’ll just need to open a Share Savings Account and fund it with at least $5.

Connexus Credit Union: 2.00% APY, $15,000 minimum deposit

Connexus Credit Union also offers a high health savings account rate, but you’ll need at least $15,000 in your account to earn at that rate. Still, you can earn at decent rates on all other balances larger than $100, with higher balances benefiting best. The account doesn’t require a minimum balance or charge a monthly fee. You can request an HSA debit card when you open your account for use at Connexus ATMs.

You can find Connexus branches and ATMs in Wisconsin, Minnesota, Ohio and New Hampshire. Connexus is also part of the CO-OP Shared Branch network, which gives you access to more than 5,600 Shared Branches and more than 54,000 surcharge-free ATMs through both CO-OP and MoneyPass. To open an account with the credit union, you’ll need to become a Connexus Credit Union member.

Evansville Teachers FCU: 1.86% APY, $500 minimum deposit

Evansville Teachers FCU’s Health Savings Checking account earns at a great interest rate on all balances of $500 and over. Plus, there’s no maintenance fees. You’ll need at least $25 to open the account. You can also benefit from check writing abilities, debit card access and payroll deductions with an ETFCU HSA.

ETFCU also offers five HSA share certificates with term lengths ranging between one to five years. Each require $1,000 to open and earn at competitive interest rates. However, ETFCU doesn’t recommend you use HSA share certificates unless you’ve had an health savings account established for a while, since locking money in share certificates make it much harder to to dip into your funds.

You can find Evansville Teachers Federal Credit Union locations in Indiana and Kentucky. The credit union is also a member of the Alliance One ATM network, which offers fee-free access to about 5,000 ATMs. ETFCU was started by several teachers in Evansville, Ind. in 1936 — but you don’t have to be a teacher to qualify for ETFCU membership, though.

Interior FCU: 1.61% APY, $25,000 minimum deposit

Interior Federal Credit Union’s health savings account earns its great interest rate on balances of $25,000 and over. All other balances earn at lower interest rates, with balances of $5,000 and over benefiting the most. The account doesn’t require a minimum opening deposit, nor does it charge a monthly fee.

The Interior FCU Health Savings Account includes an HSA Visa debit card, which you can use for your medical purchases and at over 55,000 surcharge-free ATMs worldwide, including those at Walgreens, 7/11 and WaWa. Interior FCU has only two branches, one in Washington D.C. and one in Reston, Va. However, you’ll also have access to 5,600 Shared Branches/Service Centers in the country through the CO-OP network.

Interior FCU has been around since 1935. To open an HSA with the credit union, you’ll first need to be a member with a Primary Savings account. You can be eligible for an Interior FCU membership in a number of ways, often depending on your place of employment.

Summit Credit Union: 1.15% APY, $10,000 minimum deposit

You’ll need at least $10,000 in your Summit Credit Union Health Savings Account to earn at the most competitive health savings account rate. All other balances still earn interest, but the lower the balance, the lower the rate. Luckily, there’s no minimum deposit requirement, nor is there a pesky monthly fee. The Summit HSA comes with a free debit card, which you can use at Summit, Cirrus and Nyce ATMs.

Summit Credit Union was founded as CUNA Credit Union in 1935 in Madison, Wis.; you can find the credit unions branches throughout southern Wisconsin. Notably, unlike many credit unions, Summit Credit Union has an open charter, which opens up membership to anyone. You’ll need to open Primary Savings account with $5 to become a member.

First Technology FCU: 1.00% APY, $0.01 minimum deposit

First Technology Federal Credit Union’s HSA Checking account is easy to open and own. In addition to its decent rate, it doesn’t charge setup or monthly service fees on its health savings account, nor are there any minimum balance requirements. You just need at least $0.01 to open the account and to start earning interest. To open this HSA, you can call First Technology FCU at 855-855-8805.

You’ll receive a free HSA debit card with the account, which you can use at over 30,000 CO-OP ATMs. You can also visit over 40 First Tech branches and access more than 5,000 CO-OP Shared Branch locations.

You can qualify for a First Tech membership depending on your employment or residence. First Technology Credit Union was founded in 1952 by members of Hewlett-Packard and Tektronix. You can find First Tech branches, known as Experience Centers, in California, Colorado, Georgia, Idaho, Massachusetts, Oregon, Puerto Rico, Texas and Washington.

The Adirondack Trust Company: 1.00% APY, $1 minimum deposit

To get started with an Adirondack Trust Company Health Savings Account, you’ll only need to deposit $1 — after that, there’s no other minimum balance requirement to earn interest. To access your health savings account, you can take advantage of free unlimited check writing and free ATM access with your ATC HSA Visa debit card. Getting paper statements on this account will cost $4, while using online banking will still cost you $2.

Founded in 1901 in upstate Saratoga Springs, N.Y., ATC maintains 13 branches along the Adirondack Mountains area and offers access to two Amsure branches in Saratoga Springs and Albany, N.Y.

Lake Michigan Credit Union: 1.00% APY, $5,000 minimum deposit

While you’ll only need $5 to open a Lake Michigan Credit Union, you’ll need at least $5,000 in your health savings account to earn at the listed APY; balances below $5,000 will have a much lower rate. The account doesn’t charge a monthly service fee and comes with a free debit card. You can use this debit card to pay for your medical costs and withdraw cash at any LMCU branch. You can also access your LMCU HSA funds through unlimited check writing and online banking.

Founded in 1933, Lake Michigan Credit Union offers open and free membership. As you might expect, you can find LMCU branches in Michigan, but there are also several branches in Florida. Plus, in addition to LMCU ATMs, you can also take advantage of over 55,000 Allpoint ATMs.

Elements Financial: 1.00% APY, $10,000 minimum deposit

You can benefit the most from Elements Financial’s health savings account if you have $10,000 available to set aside for future medical expenses; lower balances (of $100 and over) still earn interest, but at lower rates. The account does charge a $4 monthly fee, but you can avoid it by averaging a daily balance of at least $2,500.

The account includes a free Visa debit card, which you can use for purchases and to access your funds with over 78,000 ATMs worldwide through the Allpoint, CO-OP and Alliance One networks. In addition to these ATMs, you can visit Elements Financial branches and over 5,000 CO-OP Shared Branches in all 50 states and 50 countries.

Elements Financial is a credit union that requires membership before you open an account. Founded in 1930, it currently serves employees from over 135 companies in the U.S. If your company is an Elements partner, you can open a checking or savings account or complete an application for a loan or credit card to start the application process.

Matadors Community Credit Union: 0.75% APY, $5,000 minimum deposit

The health savings account from Matadors Community Credit Union requires a minimum opening deposit of $100, but you’ll need at least $5,000 to earn the highest rate tier on the account — you’ll still earn interest with balances of $100 and over, just at lower rates. There’s also a $3 monthly fee on the account.

In addition to a free MasterMoney Debit Card, you’ll also have use of unlimited check writing abilities to use your HSA money. You can use your debit card to make your medical purchases, and at Matadors Community CU and 30,000 fee-free CO-OP ATMs. You can also visit two Matador branches in Chatsworth and Northridge, Calif. or over 5,000 CO-OP Shared Branches. MCCU offers membership to employees of partner employer groups in the San Fernando, Simi and Santa Clarita Valleys of California.

How to use your HSA wisely

Health savings accounts are used only for medical expenses, and if you shop around you can earn interest on your balances with the right account. But did you know HSAs offer tax benefits, too? You fund an HSA with pre-tax dollars, which lowers your taxable income in the year you make the deposit. As long as you spend HSA funds on approved medical expenses, it doesn’t get taxed. If you do use your HSA funds for something other than approved medical expenses, you may get hit with a 20% tax penalty.

This HSA tax advantage can come in especially handy in retirement. Funding an HSA today reduces your tax burden come tax time. If you wait until retirement to make those withdrawals, you can turn your HSA into a significant retirement contribution. Not only has the balance been earning interest for years, but now you can use that money for medical expenses, which tend to pile up in retirement. Plus, after you reach age 65, you can use your HSA for non-medical expenses without triggering the 20% tax penalty, although the withdrawals are taxed like normal income, similarly to IRA withdrawals. This also applies in the event you become disabled or die.

HSA requirements

You can generally open a health savings account if you’re already covered by a high-deductible health plan (HDHP). This works well since the HSA funds can help you cover the higher out-of-pocket costs that usually come with having an HDHP. To qualify for an HSA, you also can’t have other health coverage, be enrolled in Medicare or be claimed as a dependent on someone else’s tax return.

HSA contribution limits

As set by the IRS, the amount you can contribute to your health savings account will depend on your HDHP coverage, your age, the date you become eligible and the date you stop being eligible. For 2018, if you had self-only HDHP coverage, you can contribute up to $3,450 to your HSA. If you had family HDHP coverage, you can contribute up to $6,900.

For 2019, the contribution limits for self-only HDHP coverage is $3,500 and $7,000 for family HDHP coverage.

For tax year 2018, you can make HSA contributions until April 15, 2019. Even if you weren’t eligible in 2018, you can still make HSA contributions until that date for the months you were eligible. If you have an employer contributing to your HSA, they can do so from Jan. 1, 2019 to April 15, 2019. They just have to notify you and the account trustee that the contributions are allocated for 2018.

HSA vs. FSA

A flexible spending account, or FSA, is another type of supplemental medical spending account. Like a health savings account, FSAs are also funded with pre-tax dollars to use towards qualified medical expenses like prescriptions and copayments. FSAs are employer-sponsored, however, and are usually funded through voluntary salary contributions, but your employer can also contribute. You cannot open an FSA if you’re self-employed. No taxes are deducted from your contribution. For 2018, you cannot contribute more than $2,650 to an FSA.

What further sets FSAs apart from HSAs is that you must use the money in an FSA by Dec. 31 of the contribution year, unless you’re granted a grace period or a $500 carryover option by your employer. A big drawback to FSAs is that if you don’t use the money in the account on time, your employer gets those funds. This is also true if you were to leave the company. To the opposite, the funds in an HSA are yours to keep even if you leave your company.

Health savings account vs. online savings accounts

While health savings accounts help you designate funds toward medical expenses, most HSAs don’t earn at the competitive rates we’ve come to see from online savings accounts. A $10,000 deposit into a health savings earning 2% APY would yield $200 after a year of annual compounding interest. This doesn’t fall too far behind some of the best online savings accounts. A savings account earning 2.45% would yield only $45 more than the HSA after a year.

Still, you’ll find plenty more high-yield options to really boost your savings by looking at online savings accounts, and not just for medical expenses. Plus, you typically don’t have to meet any requirements to open a savings account, like having an HDHP or meeting credit union membership qualifications.

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

Lauren Perez
Lauren Perez |

Lauren Perez is a writer at MagnifyMoney. You can email Lauren here

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Best Savings Account Bonus Offers

Editorial Note: The editorial content on this page is not provided or commissioned by any financial institution. Any opinions, analyses, reviews, statements or recommendations expressed in this article are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by any of these entities prior to publication.

There’s no shortage of checking account bonus offers, with everyone from small local banks to the big household names offering hundreds of dollars to new customers. Banks know it’s hard to get you to leave your old bank, especially when you’re comfortable with the accounts you have. But what better way to entice you than with a big cash bonus?

You’ll find these bonus offers attached to more checking accounts than savings accounts. After all, checking accounts are a crucial part to banking, as they allow you to easily access your money for purchases and transfers.

That’s not to say there aren’t any opportunities to earn money with a new savings account. We’ve found five of the best savings account bonus offers as of the date of publishing. It’s easy to go straight for the highest amount, but pay attention to the bank and the account you’re getting ready to open. Make sure it’s a bank you actually want to do business with.

Further, double check that you’ll be happy with the new account for months to come. It can take months to meet the offer requirements and even longer to actually receive the bonus. If there’s a monthly fee on the account, you could be stuck paying that unnecessary fee, especially if you can’t meet the balance requirements to waive it. You may not even be happy with the interest rate on the account, which might make the savings account bonus offer not entirely worth it.

The 5 best savings account bonus offers in 2019

Methodology

To find the best savings account bonus offers, we looked for the highest bonus amounts offered. Below, you’ll find the five biggest bonus offers on savings accounts being offered. Offers are current as of this publication date and we will update the article periodically to show the freshest ranking.

Capital One — $500 bonus with $50,000 minimum deposit

Offer ends 5/19/2019

Offer rules: If you open a new Capital One 360 Money Market account with an opening deposit of at least $10,000, you can snag up to $500 in bonus cash. The money needs to be new to Capital One and deposited within the first 10 days of account opening. To earn the $500 bonus, you must maintain an account balance of $50,000 or higher within the first 90 days. If you can’t reach that balance, maintaining between $10,000 and $50,000 for those 90 days will earn a $200 bonus instead. If your balance dips below $50,000 at any time during that period, you’ll earn the lower reward even if you boost it back up with another deposit.

Who’s eligible: You cannot redeem this savings account bonus offer if you have or had a Capital One savings product after Jan. 1, 2016. For those who do qualify, you’ll need to enter the promotional code EARN500 to snag the offer when you open the new account.

Account details: The Capital One 360 Money Market account is on our list of the best money market accounts out there. It earns at a competitive 2.00% APY on balances of $10,000 and over. Lower balances also earn interest, just at a lower rate of 0.85%. Plus, the account is free to use, as there are no monthly maintenance or ATM fees.

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Discover — $200 bonus with $25,000 minimum deposit

Offer ends 4/1/2019

Offer rules: Discover customers can benefit from a $200 bonus by opening a Discover Online Savings account and depositing at least $25,000 into the account by April 15, 2019.

If you can’t meet that minimum amount, you can earn a $150 bonus instead by depositing at least $15,000 into the new account by April 15, 2019.

Bonuses will be credited to your account by April 29, 2019.

Who’s eligible: You must be a new Discover customer to qualify for this savings account bonus offer. You must not have had a savings account that was co-branded or an affinity account provided by Discover either.

You can apply for the offer with the code “MM319” either online or by phone.

Account details: Discover’s Online Savings Account earns at a competitive interest rate of 2.10% on all balances. There’s no monthly service fee and Discover promises no hidden fees. You’ll only face a charge for excessive withdrawals, stop payments, insufficient funds and outgoing wire transfers. Discover will waive the first excessive withdrawal, insufficient funds or stop payment fee you encounter each calendar year. Keep in mind that these bonuses are considered interest and will be reported on a 1099-INT form.

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Chase — $150/$350 bonus with $10,000 minimum deposit

Offer ends 4/15/2019

Offer rules: In another bonus offer from Chase, you can get $150 when you open a new Chase Savings account. You’ll need to deposit at least $10,000 in new money (not previously held with Chase or its affiliates) within 20 business days and maintain at least that minimum balance for 90 days.

Want to do more banking with Chase and open a Chase Total Checking account, too? Opening both a new checking and savings account can get you a $350 bonus, as long as you follow the above savings account rules and set up direct deposit on your new checking account.

Who’s eligible: You’re eligible for the Chase Savings account bonus offer if you are not already a Chase savings customer. You also cannot have had an account that was closed within 90 days or with a negative balance.

If you close this new savings account within six months after opening, Chase will deduct the bonus amount from the account at closing.

Account details: The Chase Savings account earns interest at a nominal rate of 0.01% APY, which isn’t ideal for savings growth. There is a $5 monthly fee on the account. You can waive the fee with one of the following, each statement period:

  • A daily balance of at least $300
  • At least one repeating automatic transfer of $25 or more from your personal Chase checking account or Chase Liquid® Card
  • An account owner who is younger than 18
  • Linking this account to a Chase Premier Plus Checking, Chase Sapphire Checking or Chase Private Client Checking account

You could also face a $5 fee for each excessive transaction you make over the six-transfer limit per statement cycle.

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Associated Bank — $100 bonus with $10,000 minimum deposit

Offer ends 3/31/2019

Offer rules: Opening a new Associated Bank Money Market account can get you a $100 bonus. You’ll need to deposit at least $10,000 in new money (held outside Associated Bank) at opening and maintain at least that much in the account for 90 days to receive the bonus.

If you also want an Associated Bank Packers Checking account, you can earn another bonus of $175. This requires an opening deposit of $100 in new money and at least three online bill payments or one direct deposit at least least $300 within 45 days of account opening.

Who’s eligible: You can redeem this savings account bonus offer online or by taking the coupon sent via email to an Associated Bank branch. This offer is limited to one per household. Households who have or have had an Associated Bank Money Market account within the last six months do not qualify. You must be 18 years or older to apply for the bonus.

If you close the new account within 12 months of opening, Associated Bank can deduct the bonus amount from your funds at closing.

Account details: The Associated Bank Money Market account is a true money market account with the ability to write convenience checks and access Associated Bank and MoneyPass ATMs. It earns interest, too, between 0.05% and 1.00% APY. You can earn at higher rates by having a higher balance and a qualifying Associated checking account.

The money market account does charge a $16 fee, which you can waive by maintaining a $1,000 minimum balance.

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First Tennessee — $50 bonus with $5,000 minimum deposit

Offer ends 4/30/2019

Offer rules: When you open a new First Tennessee Money Market Savings account with at least $2,000 you have a chance at earning a $50 bonus. To snag the offer, you must also deposit a total of at least $5,000 in the first 30 days of account opening. Your deposits must be made from accounts outside of First Tennessee Bank.

Who’s eligible: To redeem the offer, you can open the account online with the Promo code “SVSC50.” You can also visit a First Tennessee branch and present a copy of the offer. You must be a resident of Alabama, Arkansas, Georgia, Kentucky, Mississippi, Tennessee or certain parts of Virginia (Bristol, Weber City, Gate City) to qualify. You must also be a new customer to the bank, meaning households with current consumer savings accounts or accounts closed within the past 12 months at First Tennessee Bank or Capital Bank cannot redeem the offer.

Account details: The bank’s Money Market Savings account earns interest according to balance tiers, so the higher your balance, the higher the rate. Overall, however, the rates are relatively low, ranging between 0.01% and 1.00% APY. You’ll need $250,000 or more to earn at the highest level.

You can access your Money Market Savings funds through ATM or check. There is a $9 monthly fee on the account. You can waive the fee with either a qualifying checking account or if your total combined balance in First Tennessee accounts is at least $5,000.

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How do these accounts compare to the best online savings accounts?

When looking for the best online savings accounts, you won’t find much overlap here. Bonus offers tend to come from brick-and-mortar banks, as incentives for you to place your deposits with them.

Online banks still win by and large. But don’t let these financial carrots mislead you into thinking they are the best on the market — many of the best accounts are being offered by online banks these days. Online accounts tend to have the highest interest rates and the lowest fees — what more could you want? That’s why you’ll find most sign-up bonuses being offered by brick-and-mortar banks.

Know the pros and cons. You should figure out whether it’s worth it for you to open a new account with a traditional bank just for a bonus offer. Don’t forget, you can’t open a new account for a bonus offer and close it immediately. Qualifying for and receiving the bonus takes months. You could even lose your bonus offer if you close the account too soon. Plus, a savings account bonus offer is a short-term boost in savings, rather than the ongoing growth of a high-yield account. It won’t help your savings situation if your new account charges a monthly fee that you can’t waive, either.

Factor in fees. If you do desperately want to snag a couple hundred dollars by opening a new account, make sure you won’t be paying a monthly fee for the months you have the account. That way, you won’t lose any of that bonus right off the bat. Again, double check the account’s closing terms to ensure you won’t lose the bonus at closing, either. It’s also important to be able to meet the account’s minimum balance requirements. It may not make sense for you to keep $10,000 in a low-earning account just to earn a $200 bonus, for example.

Do the math. Let’s say you do deposit and maintain $10,000 in a new savings account that has an interest rate of 0.01%, which is typical of brick-and-mortar savings accounts. After a year, you’ll have earned $1 in interest. Add that to your $200 bonus and you can add a whopping $201 to your savings. Now, if you were to forgo the bonus offer and deposit your $10,000 into a high-yield savings account with a 2.25% APY, you’ll earn just over $227 after a year (with monthly compounding) — a better savings boost than the savings account bonus offer.

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

Lauren Perez
Lauren Perez |

Lauren Perez is a writer at MagnifyMoney. You can email Lauren here

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Banking Apps

Stash Debit Card Launches with Stock Rewards

Editorial Note: The editorial content on this page is not provided or commissioned by any financial institution. Any opinions, analyses, reviews, statements or recommendations expressed in this article are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by any of these entities prior to publication.

You’ve heard of earning cash back on your credit card purchases. What about getting shares of stock instead? Investing startup Stash is introducing a unique take on rewards by offering its customers shares of stock for using its new debit card.

The stock-as-rewards feature is the most eye-catching part of Stash’s new mobile banking product, which was first announced a year ago and is launching now. With Stash Stock-Back™ Rewards, instead of cash you can earn shares of stock as rewards when you open a Stash Debit account and make purchases at over 11 million retail outlets.

Stash’s debit account and debit card — powered by Green Dot — comprise a pretty conventional banking option. There are no overdraft or monthly maintenance fees (though the account is far from fee-free), plus free access to over 19,000 Allpoint ATMs nationwide. You’ll also need to opt into the Stock-Back Rewards program in order to start earning shares.

How Stash Stock-Back works

With Stash’s new Stock-Back program, you earn 0.125% of each qualifying purchase you make with your Stash debit card as a stock reward. Some merchants may even offer bonuses where you can earn up to 5% of each purchase as Stock-Back rewards.

The stock rewards can be in shares of the vendor where you made the purchase, and if the vendor’s stock is listed on the Stash Platform, your reward is in the shares of that company. For example, every time you get Taco Bell and pay with your Stash debit card, you earn a small percentage of YUM! Brands stock. If a vendor’s stock isn’t available on Stash, you’ll earn your Stock-Back reward as shares in Vanguard Total World Stock ETF.

Stash invests in fractional shares

Stash’s investment platform facilitates investing small amounts of money in stock by offering users fractional shares. It’s important to understand that with Stock-Back rewards, customers aren’t really getting full shares — or at least not until they’ve done a lot of spending. Instead, they are accumulating fractional shares.

In this category of stock investing, brokerages split shares of stock into smaller parts in order to help small investors diversify their holdings or get access to shares with relatively high per-share prices.

The Stock-Back rewards you earn on qualifying debit purchases using your Stash debit card will be added to your Stash Invest account.

Stash Debit account fees

Stash boasts zero hidden fees on its Debit account, although there are fees on a few transaction types. You won’t face a fee for monthly maintenance, overdraft/insufficient funds, ACH bank transfers, direct deposits and replacement debit cards.

Most significantly, however, you will get dinged for using out-of-network ATMs. Since Stash operates entirely online, it also charges a fee for using a bank teller to withdraw cash. Stash also charges for making cash deposits, which means the account may not work well on its own. Instead, consider pairing it with another checking account that does accept free cash deposits.

Note that Stash Invest accounts do charge a $1 monthly fee on balances under $5,000. The fee structure switches to 0.25% of your assets once you reach $5,000 and higher.

Stash Debit account fees
Out-of-network ATM fee$2.50
Out-of-network ATM balance inquiry fee$0.50
Teller cash withdrawal fee$2.50
Cash deposit feeUp to $4.95, varies by retailer
Foreign transaction fee3% of total transaction amount

What is Stash?

Stash began as a way to simplify, automate and personalize investing. To start with Stash Invest, you’ll need at least $5. Then you can tailor your portfolio based on your risk tolerance and potential passion projects — that allows you to invest in causes you care about from environmentally friendly companies to the newest tech innovators. You can also take advantage of Auto-Stash recurring deposits to keep your investments growing.

Stash Investments is an SEC registered investment advisor. Stash Debit Account Services are powered by Green Dot Bank, Member FDIC insured on your debit account funds.

*Fees and rates mentioned in this article are accurate as of the date of publishing.

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

Lauren Perez
Lauren Perez |

Lauren Perez is a writer at MagnifyMoney. You can email Lauren here

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