Stairs
Wish that Groundfloor would bring back this Stairs app. I loved it as a high yield savings account.
It was great until it wasn’t…
The app originally gave you the ability to earn up to 6% on your money with no minimum balance requirements.
Then out of the blue, they took away round ups and automated transfers (both very convenient features), capped the interest rate at 4%, and doesn’t provide the security of FDIC insurance.
It’s not a bad rate of return on cash you may have sitting around, but in today’s high interest rate environment, it’s easy to find a high yield savings account that offers even higher rates of return than 4% while also providing FDIC insurance.
At the time of this review, Marcus is currently offering 4.15% APY, while Wealthfront is offering 4.55% APY, and Raisin can match you with partner banks yielding as high as 5.12% APY. All of those offerings are FDIC insured.
And if FDIC insurance isn’t important to you, then you should look into Worthy. Their bond accounts are currently yielding 5.65% APY and money is just as liquid as with Stairs.
Then out of the blue, they took away round ups and automated transfers (both very convenient features), capped the interest rate at 4%, and doesn’t provide the security of FDIC insurance.
It’s not a bad rate of return on cash you may have sitting around, but in today’s high interest rate environment, it’s easy to find a high yield savings account that offers even higher rates of return than 4% while also providing FDIC insurance.
At the time of this review, Marcus is currently offering 4.15% APY, while Wealthfront is offering 4.55% APY, and Raisin can match you with partner banks yielding as high as 5.12% APY. All of those offerings are FDIC insured.
And if FDIC insurance isn’t important to you, then you should look into Worthy. Their bond accounts are currently yielding 5.65% APY and money is just as liquid as with Stairs.
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Cannot get your money out.
App does not allow withdrawal of available funds to close account.
Doesn’t work anymore
Haven’t been able to log in for months. Just getting a response of “experiencing technical difficulties “. No idea what, if any, monies I have in my account. Total waste of time. No help or contact info provided.
Missing Money
I’ve been using Stairs for over 8 months and have been very happy with it until I just checked my account and it says almost half of my money is gone with no record of a transfer meaning it must’ve been done through the company so I don’t think I can trust this app anymore
