What type of custodial account does Stash offer?
Stash offers Custodial Accounts that are called UTMAs (Uniform Transfer to Minors Act) and UGMAs (Uniform Gift to Minors Act) as allowed by state law.
How is the account type determined?
The account type (UTMA or UGMA) is decided by which state the person opening the account (AKA the Custodian) resides in.
What are the differences between these two accounts?
These two accounts are similar, but there is a difference in the kind of assets you are allowed to transfer to a minor.
UGMA law limits gifts and transfers to securities and bank deposits. This means you can’t transfer assets like real estate with UGMAs.
UTMA law allows virtually any kind of asset, including real estate, to be transferred to a minor.
Related questions View all Custodial
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Q. Why can’t I add more investments to my Set Schedule?
You may have reached the Set Schedule investments limit. Stash has a limit of 500 Set Schedule allocations for all Stashers to avoid an error that could put your Set Schedules at risk of not executing. To add new investments to Set Schedule,…
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Q. What’s Plaid?
Plaid is a technology that allows for people to connect their financial accounts to a mobile application. It makes it possible for your external bank and Stash to talk to one another. When you link Stash to your external bank, Plaid encrypts your bank information,…
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Q. How do I opt out of Plaid?
You can easily opt out of Plaid in the app. Here’s how to get started: From the Home screen, tap your account icon in the top left corner Tap on Personalization & Data below Privacy & Legal Tap Opt-out of transaction data sharing at the bottom of the screen …
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