In the recent past, there has been much innovation and specifically in fintech. Many people are currently opting for investing apps. There has been a rise in many free tools and trading commissions. Some of the apps that have been developed to help people invest are Stash and Public. You can use any of the two apps to invest in the stock market. However, each one of them is unique in terms of investment means. This article will highlight the differences between Stash and Public.
- 1 What is Stash?
- 2 What is Public?
- 3 Account Opening Minimums and Commissions
- 4 Stash Investments Options / Public Investment Options
- 5 How to Use Stash / How to Use Public
- 6 Stash App / Public App
- 7 Stash Account Types / Public Account Types
- 8 Learning Materials
- 9 Banking and Budgeting Features
- 10 Stash Website / Public Website
- 11 Stash Supported Countries / Public Supported Countries
- 12 Stash Alternatives / Public Alternatives
- 13 Final Word on Stash or Public
What is Stash?
Stash is an app that provides a one-stop-shop for all your financial needs. You can use it to bank, invest, save, budget and spend your finances. You also get your money back when you shop using Stash. Users need to pay a fee to use Stash.
What is Public?
Public is an investment and social app that you can use to invest and mingle with different investors. It has a chat and comment section that allows for interaction between investors. You can follow other investors and see what they are investing in. when you sign up; you get a free $10 stock slice.
Account Opening Minimums and Commissions
Public is open for investment to anyone and you do not need and minimum account opening. However, you can buy at least $5 minimum stock in whichever company you decide to invest in. Also, trades do not attract any fees. Therefore, you are assured of $0 trading commissions for all your trades.
Stash on the other hand offers retirement accounts. You also get to earn money back at any place you use Stash to shop. Stash just like Public does not have trading commissions and account opening minimums.
Stash Investments Options / Public Investment Options
Stash users can invest in assets like stocks, Exchange-traded Funds. However, Stash limits the number of Stocks and ETFs available. On the other hand, Public users can trade in assets like ETFs, closed-end funds and stocks. Public users can trade stocks and ETFs that cannot be traded on Stash.
How to Use Stash / How to Use Public
Stash is entirely an investment app that you can use to bank, invest, budget and spend your finances. You get to enjoy perks like earning some stock when you shop using Stash.
For Public, it is an investment and social app. you can use it to invest and also interact with investors. The app has comment and chats sections where you can mingle with other investors. You can see what they are investing in and chat with them.
Stash App / Public App
As a Stash customer, you can use the mobile app which is less the same as the web. It usually has similar tools as the website. Some of the tools you will get include spending tools, investing tools and learning tools. The app comes with market orders only.
On the other hand, Public also has a mobile app that comes with a Touch ID as a standard feature. It does not have a mobile check deposit. The app comes to market and limits orders.
Stash Account Types / Public Account Types
With Stash, you can get retirement accounts, custodial and regular brokerage accounts. To open an IRA or custodial account, you may need to sign up for a more expensive plan. As an investor, you can take advantage of tax advantages as you invest. Unlike Stash, Public does not provide retirement accounts.
With Stash, you get some free educational materials that can help you improve your financial literacy. The educational resources are available through blogs, videos for adults and kids and financial news. However, the only downside of these educational resources is that they are usually shallow. You may not get much insight from them.
Banking and Budgeting Features
You can use Stash as your bank account and receive your paycheck 2 days earlier. Stash allows one to make instant transfers from your Stash bank account to your investing account. If you wish to transfer money from an outside bank account to Stash investing account, it takes 3-5 business days.
Stash Website / Public Website
Stash’s website has easy to use interface. It does not have many and advanced tools. However, it usually does not have the ETF portfolio builder tool which is very important for beginners.
Stash Supported Countries / Public Supported Countries
Both Stash app and Public app are open to US citizens and legal residents. It is not possible to open an account if you are from other countries.
Stash Alternatives / Public Alternatives
Good alternatives to Stash and Public include the following:
Final Word on Stash or Public
If you are thinking about which of the two to use to invest in, Stash or Public, it is best you decide on what features you are looking for. For instance, if you want to invest while interacting with other investors, it is best that you go for Public.