Liberty Stash App

Jeruanamo said:
Yep - that's exactly right. We use the confirmation SMSs from your bank ... to determine how much you've spent and calculate the 'digital spare change'.
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Please explain further.

Do you have access to read the SMS messages that the bank sends me when a transaction goes through my account?

If I spend R95 what guarantee do I have that only R100 will come out of my account? What measures are in place to prevent "accidental" deductions of larger amounts?

And, in the above example, is the extra R5 that you deduct treated as a second transaction by the bank, thereby triggering additional transaction fees?
 
DiamondEagle said:
Do you have access to read the SMS messages that the bank sends me when a transaction goes through my account?
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Yes, that's how Stash knows what's been spent.

DiamondEagle said:
If I spend R95 what guarantee do I have that only R100 will come out of my account? What measures are in place to prevent "accidental" deductions of larger amounts?
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System checks are in place to prevent additional deductions. We haven't had a breach of these system checks.

DiamondEagle said:
And, in the above example, is the extra R5 that you deduct treated as a second transaction by the bank, thereby triggering additional transaction fees?
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Yes, it is an additional transaction. It attracts the same (if any) fees as you pay for swiping your card at a merchant. It isn't treated as a debit order. Most banks (by now) have unlimited swipes at a merchant.
 
Eti1 said:
Nice new update for Fnb clients
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Yep - we're using Smart inContact now instead of SMSs. We hope the other banks start using app notifications too. Standard Bank are planning to.
 
Jeruanamo said:
There's no tracking error and zero fees. Liberty is able to offer zero tracking error because it can use its balance sheet (unlike unit trusts which can't).
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Unfortunately, I have been burnt with Liberty before:

This is in your terms and conditions for Stash:
"Charges can be reviewed from time to time"

Can you remove this clause?
 
Cthru said:
Unfortunately, I have been burnt with Liberty before:

This is in your terms and conditions for Stash:
"Charges can be reviewed from time to time"

Can you remove this clause?
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Not necessarily defending Liberty here, but wouldn't every institution have similar clauses in their contracts?
 
Eti1 said:
Not necessarily defending Liberty here, but wouldn't every institution have similar clauses in their contracts?
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I understand why you'd be concerned. I wish we could remove that clause but the legal beagles insisted on it. I can say, though, that the cheapest alternative costs 0.45% p.a. (and Stash is free!).
 
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Eti1 said:
Not necessarily defending Liberty here, but wouldn't every institution have similar clauses in their contracts?
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so these terms allow the institutions to change their fee at will.

I signed up for liberty product, they assured me that there is no advisory fee being deducted. but introduced a platform fee of 3.5% per annum.

So what stops them in 2 years from charging you 10% on Stash. And you won't be able to move your funds without impacting your tax status on these type of funds.

@Jeruanamo just because your "legal beagles" insist on it, does not make this right for a product you claim that you are charging no fees on. I would ask them to embrace the new era of honesty to consumer.
 
Cthru said:
so these terms allow the institutions to change their fee at will.

I signed up for liberty product, they assured me that there is no advisory fee being deducted. but introduced a platform fee of 3.5% per annum.

So what stops them in 2 years from charging you 10% on Stash. And you won't be able to move your funds without impacting your tax status on these type of funds.

@Jeruanamo just because your "legal beagles" insist on it, does not make this right for a product you claim that you are charging no fees on. I would ask them to embrace the new era of honesty to consumer.
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You'll be able to move your TFSA, it's just a matter of time. Will happen next year probably...
 
backstreetboy said:
You'll be able to move your TFSA, it's just a matter of time. Will happen next year probably...
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Yep. Transfers are pencilled in for March 2018 when all tax free providers must allow you to move your money to another company.
 
Cthru said:
so these terms allow the institutions to change their fee at will.

I signed up for liberty product, they assured me that there is no advisory fee being deducted. but introduced a platform fee of 3.5% per annum.

So what stops them in 2 years from charging you 10% on Stash. And you won't be able to move your funds without impacting your tax status on these type of funds.

@Jeruanamo just because your "legal beagles" insist on it, does not make this right for a product you claim that you are charging no fees on. I would ask them to embrace the new era of honesty to consumer.
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We don't​ charge any fees for Stash. The nearest competitor charges 0.45% per annum. Of course, things could change, but we're not planning on it.
 
Please do something about the "You're not stashing anymore" mails. Even though I'm stashing, I still get them.
 
YingYang said:
Please do something about the "You're not stashing anymore" mails. Even though I'm stashing, I still get them.
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Fixed! The systems were down for a second and it caused a never-ending email loop :( We're moving to the cloud soon so that we're always UP
 
Any news on Capitec yet? The app says it's coming soon. I see you're ramping up the marketing for the product, hopefully this bank's integration is a priority.
 
Markhedge said:
Any news on Capitec yet? The app says it's coming soon. I see you're ramping up the marketing for the product, hopefully this bank's integration is a priority.
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It is indeed. We had a few successful tests today, so not too long to wait now :)
 
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