Stash has unveiled its own flavor of cash back rewards program. Stock-Back automatically invests in the companies where Stash debit card holders spend money. So, if a Stash user shops at Amazon, she'll accrue factional shares in AMZN. If he eats at McDonalds, he'll automatically become an MCD shareholder. “Our ability to give customers the opportunity to save and build portfolios that mirror their spending behavior and preferences is incredibly powerful," said Stash co-founder and president, Ed Robinson.
Stock-Back has been in a limited beta release for the past few months and Robinson told Tearsheet that Stash made over 100,000 allocations of stock rewards during this period. Stock-Back rewards are tiered:View this post on Instagram
- 5 percent stock-back at Netflix and Spotify
- 2 percent at Starbucks and Dunkin'
- 12.5 basis points for all other swipes or 25 bps if a customer has direct deposit turned on in her Stash account