How to Close a Stash Account
Closing a Stash investing account involves multiple steps, so make sure to review our helpful outline below before departing this financial company.
Cancel Stash’s Subscription Fee
Stash charges a monthly fee of $3 or $9, based on the plan you pick. In both situations, the fee is charged around the anniversary of when you first signed up. Since Stash does not offer partial refunds of this fee, it makes sense to shut down the account before the monthly charge.
Also, the subscription at Stash is not the same as the investing account. Ending the brokerage account does not stop the subscription, so if you want to avoid the monthly charge, you must take an extra step once you close the securities account.
Close Stash Account by Transfer
A straightforward method of closing a Stash brokerage account is to move it to another firm. Once Stash gets the request from the new firm, it will shut down the account and send the holdings.
This process uses the Automated Customer Account Transfer (ACAT) electronic system. Stash charges $75 for handling this, although some investment firms are kind enough to repay that fee. Others do not. If you move your account to
Robinhood, it will
reimburse up to $75 of your current broker’s transfer fee
if your transfer amount is at least $7,500.
To begin an ACAT transfer, you must open a brokerage account at a different firm. Since this will be an ACAT transfer, the new firm must allow ACAT transfers. Most do, but some do not.
Once your new account is active, you can request the transfer. For ACAT requests, this process occurs with the receiving broker. Many firms now have online resources for this, so it’s fairly straightforward. Be sure to request a full ACAT transfer (not partial) to close the old account. Also, you may need to list Stash’s clearing firm, not Stash, as the outgoing broker. That clearing firm is Apex Clearing Corp (with DTC # 0158).
Fractional shares cannot be moved using the ACAT system, so Stash will convert them into cash. The cash might show up a few days after the other securities arrive.
Find out more in How to transfer from Stash to Charles Schwab.
Close Stash Account by Withdrawing
Aside from the $75 cost, another drawback of using ACAT is that the account remains open. If you wish to fully close it, you must do so directly at Stash.
To proceed, the initial step (in a self-directed account) is to sell all stocks and ETFs. You can do this easily on the website or mobile app using the same trade ticket you used to buy them.
After the trades settle and only cash remains, it’s time to withdraw the funds. You can do this by using the Transfer link at the top of the site (or at the bottom of the mobile app).
When the account is empty, you can finalize its closure. Send a message to Stash asking for the account to be closed. You can do this by phone (1.800.205.5164) or via the messaging widget. This tool is in the bottom-right corner of the website or mobile app. Look for the speech bubble icon.
Best Free Alternatives
Check out this detailed Robinhood vs Charles Schwab comparison.
Cancelling the Stash Subscription
After the account is closed, the related subscription must also be ended (assuming you want to remove the monthly charge). If you intend to keep other Stash products, like their life insurance or checking account, you can ignore this step.
To stop the subscription from the mobile app, open the main menu (found by tapping your initials in the upper-left corner of the Home screen). Then, pick the subscription plan link. On the next page, choose “Your plan.” Last, scroll down and tap the option to close Stash for good. Follow the instructions to cancel the subscription.
A Note about Robo, Custodial, and Retirement Accounts
Robo accounts at Stash can be shut down or transferred just like self-directed accounts. However, custodial or IRA versions might have special regulations if you remove money from them. Selling in a taxable account could also have tax outcomes. We suggest speaking with a knowledgeable tax professional before taking action.
Updated on 2/23/2025.
Chad Morris is a financial writer with more than 20 years experience
as both an English teacher and an avid trader. When he isn’t writing
expert content for Brokerage-Review.com, Chad can usually be found
managing his portfolio or building a new home computer.
|