Liberty Stash App

Amberstorn said:
Any plans to allow other forms of investment, ie not in a tax free one. I like the idea of using the change but already have the TFSA so would consider if you do
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Not quite yet. As long is in total you don't contribute more than R30 000 in a tax year to Stash and your other tax-free investments, then you won't pay a penalty to SARS.

Stash has no fees too, so it's worth thinking about. :) Our February release is going to have two great features which we're really excited about.
 
I have already maxed out my TFSA does Stash have a non TFSA account
 
Jeruanamo said:
Not quite yet. As long is in total you don't contribute more than R30 000 in a tax year to Stash and your other tax-free investments, then you won't pay a penalty to SARS.

Stash has no fees too, so it's worth thinking about. :) Our February release is going to have two great features which we're really excited about.
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The terms and conditions say that you can't have another Liberty tax free investment - is that correct? (I already have a tax free investment account with Liberty...)
 
hj2k_x said:
The terms and conditions say that you can't have another Liberty tax free investment - is that correct? (I already have a tax free investment account with Liberty...)
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It may be with STANLIB? Stash is Liberty's only tax-free savings account. Liberty will make sure you don't stash more than R30,000 in a tax year, but it's up to you to check across other providers :)
 
tehtorq said:
Any news on FNB integration? Keen to try this out :-)
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FNB, VISA and Standard Bank (our bank) are taking far longer than expected to resolve the issue. We're hoping to have a solution by the end of February. (I'd promise sooner, but I don't want to let you down.)
 
Hi Jeruanamo.

When I added my nedbank card I saw a message from the app to say that I need to setup nedbank sms alert or something. Is this a requirement for Stash to work?

Also if I do not have the funds in my "Where the money comes from" account for the stash will it take it from the other card that has been setup?
 
Anyone using a Huawei phone and having any issues? Can't seem to get it to work on my Mate 8...
 
This is a nifty idea, and clearly inspired by the likes of www.acorns.com in the US.

Its admirable to have these interventions to get people to start saving, but I would prefer if didn't automatically go into Tax Free savings bucket. Firstly, virgin savers will need to save a lot and earn a decent return before those returns would be taxable anyway (outside of a tax free wrapper), and that's because the first few thousands of investment return every year is tax free in your hands anyway.

Secondly, for people saving already, this is not the nicest vehicle to do you tax free savings in - even though its free. Personally I would want to put the tax-free maximum away with intent (if I could afford it) and know that box is ticked.

This app for me is clever because it gets people to save without it being noticeable. The fact that its tax-free, means that one needs to take notice of how much is going in, in the off chance you might breach the limits and face the hefty SARS penalties.

And finally, the cynic in me believe that "when a product is free, you are the product". Either Liberty is getting a wealth of fantastic data on you (and spending habits and data is very rich and powerful) or it might be a matter of time before a Liberty adviser starts calling.
 
SyncopicNexus said:
Hi Jeruanamo.

When I added my nedbank card I saw a message from the app to say that I need to setup nedbank sms alert or something. Is this a requirement for Stash to work?

Also if I do not have the funds in my "Where the money comes from" account for the stash will it take it from the other card that has been setup?
Click to expand...

Yeah, Stash works by finding the amounts in your banking SMSs. The money will only come from your 'Money comes from' account I've been away in Rome for a bit so apologies for taking so long!
 
hj2k_x said:
Anyone using a Huawei phone and having any issues? Can't seem to get it to work on my Mate 8...
Click to expand...

Be sure to make Stash a 'protected app'. Only Xiaomi and Huawei devices require this. We're not quite sure why. Have a look at our in app FAQ for how.
 
superuser610 said:
This is a nifty idea, and clearly inspired by the likes of www.acorns.com in the US.

Its admirable to have these interventions to get people to start saving, but I would prefer if didn't automatically go into Tax Free savings bucket. Firstly, virgin savers will need to save a lot and earn a decent return before those returns would be taxable anyway (outside of a tax free wrapper), and that's because the first few thousands of investment return every year is tax free in your hands anyway.

Secondly, for people saving already, this is not the nicest vehicle to do you tax free savings in - even though its free. Personally I would want to put the tax-free maximum away with intent (if I could afford it) and know that box is ticked.

This app for me is clever because it gets people to save without it being noticeable. The fact that its tax-free, means that one needs to take notice of how much is going in, in the off chance you might breach the limits and face the hefty SARS penalties.

And finally, the cynic in me believe that "when a product is free, you are the product". Either Liberty is getting a wealth of fantastic data on you (and spending habits and data is very rich and powerful) or it might be a matter of time before a Liberty adviser starts calling.
Click to expand...

Great points. Stash is certainly not pretending to be for everyone. The savings industry is way too confusing and intimidating which is why we set up Stash. It's simple and it's free. Treasury plans to do away with the tax free allowances for interest and capital gains over time. Even though someone may not have saved on any tax now, they may well do so in the future when their employment situation and circumstances change
 
Jeruanamo said:
Be sure to make Stash a 'protected app'. Only Xiaomi and Huawei devices require this. We're not quite sure why. Have a look at our in app FAQ for how.
Click to expand...
Thanks, I've been back and forth with the service department. Apparently there is a bug which will be fixed when the next update is rolled out. Until then, it won't work for me.
 
Jeruanamo said:
Treasury plans to do away with the tax free allowances for interest and capital gains over time. Even though someone may not have saved on any tax now, they may well do so in the future when their employment situation and circumstances change
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Could you please elaborate a little on this?
 
hj2k_x said:
Thanks, I've been back and forth with the service department. Apparently there is a bug which will be fixed when the next update is rolled out. Until then, it won't work for me.
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In case anyone else with a Huawei phone is battling, the update to the app sorts it out :)
 
hj2k_x said:
Thanks, I've been back and forth with the service department. Apparently there is a bug which will be fixed when the next update is rolled out. Until then, it won't work for me.
Click to expand...

It should work now. We released a new version yesterday. :)
 
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