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
-
Q. Turning Round-Ups On and Off
You can easily manage your Stock-Back® Card round ups on the Stash app or website.1 Follow these steps to turn round-ups on/off. On the app: Login to the Stash app. Tap Bank at the bottom of the screen. …
-
Q. All About Instant Transfers
What are instant transfers? Transferring money within Stash generally is effective immediately but could take up to a few minutes; however, transferring to an external bank account can take 1-3 business days. Instant transfers allow you to transfer money to an external bank from your Stash banking account instantly for a 1% fee.…
-
Q. Earning Stock-Back® Rewards with Stash
Want to make your money work harder for you? The Stash Stock-Back® Debit Mastercard® allows you to invest while you spend.1 Read on to find out the details of this benefit, offered exclusively by Stash. How does Stock-Back® work? To earn Stock-Back® Rewards,…
Didn’t find your question?
Tell us what you’re looking for, and we’ll search for resources that could help.
Ask your question
