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
Good app
I’ve experimented with all features in the app and they all work well. Can’t complain at all so I have to give it a 5/5.
Transferred $5k + RoundUps + Recurring
I’m a professional real estate investor. The company behind the Stairs app (GroundFloor) loaned our company the funds to buy & rehab a house less than 3 miles from where I live. As a result, I started studying their business model and discovered the Stairs app. I’ve decided to use it for my short-term cash / emergency fund. I’ve got my monthly savings on auto-pilot with a recurring transfer. Plus, they round up each of my debit card transactions… should have almost $12,000 saved in Stairs app in 12 months, earning 6% interest, and able to withdraw the cash at any time, with no penalty. Can’t beat that!
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Can’t deposit:(
Download and setup was smooth but it keeps canceling my deposits with no explanation….
It’s the best of both worlds
I don’t understand anyone giving this less than 5 stars. Maybe some of negative reviews are from when it first launched and still had some bugs. I’ve never had an issue and the customer service is very helpful and responsive. Whenever I’ve had a question it’s been answered the same day or the very next.
Stairs is the best of both worlds. You’re earning 6% while your investment is still fairly liquid. That’s an insnaley high rate considering how liquid your investment is. You can add and withdraw funds easily. It takes a few days for the funds to hit just like venmo or PayPal. If you have a chunk of change sitting around earning nothing but you want to be able to access it in the event of an emergency this is a no brainer. It’s also great for stashing your cash until you find another investment you want to go in on that has an even higher return. Don’t let your money just sit in a checking or savings account and earn practically nothing. This is a great app that’s backed by a great company in Groundfloor.
Stairs is the best of both worlds. You’re earning 6% while your investment is still fairly liquid. That’s an insnaley high rate considering how liquid your investment is. You can add and withdraw funds easily. It takes a few days for the funds to hit just like venmo or PayPal. If you have a chunk of change sitting around earning nothing but you want to be able to access it in the event of an emergency this is a no brainer. It’s also great for stashing your cash until you find another investment you want to go in on that has an even higher return. Don’t let your money just sit in a checking or savings account and earn practically nothing. This is a great app that’s backed by a great company in Groundfloor.
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Money missing
App is clunky and difficult to navigate. Additionally my account doesn’t add up to the correct balance of all deposits let alone interest that was supposed to be deposited. Customer service is condescending and unhelpful. I’ll be closing my ground floor account as well as this one.
Not available
I was inspired by the amazing yield and all the content on the web site so I thought I would set it up, linked to my Groundfloor account. All I got was an “unable to register” error. So very helpful! I contacted support and was referred to a waitlist, apparently because Stairs is no longer accepting new users until the next version comes out. This should have been put on the web site. If a company can’t be bothered with such small - but important - details, I’m not going to trust them with my money.
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Trouble linking to Groundfloor
Keeps saying unable to register with a dismiss button when I try linking, so can’t even get in to use app
Not Reliable
I have had various issues ranging from account balance showing inaccurately, interest not calculating correctly, app not letting me log in, bank account disconnecting, account settings being reset or partially shut off so that my rate is dropped back to the lowest rate while having turn the settings back on and needing to wait the additional 3 month period for rate to take effect again. I have been using this app from its launch and feel it is just getting worse with time.
The fact that it is unreliable and I have had to reach out to support on multiple occasions alone is concerning enough to not use it until they can get the app to where it needs to be. I would stay clear of it unless you’re willing to track your funds meticulously and go through “testing” with the app builders and want to watch money disappear. By the way my account balance is still showing incorrectly as of today.
The fact that it is unreliable and I have had to reach out to support on multiple occasions alone is concerning enough to not use it until they can get the app to where it needs to be. I would stay clear of it unless you’re willing to track your funds meticulously and go through “testing” with the app builders and want to watch money disappear. By the way my account balance is still showing incorrectly as of today.
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Its easy and simple…
Easy simple investing. I would have given it five stars, but they got rid of the ticker function that I loved too much.
5 days is more than a week sometimes
Last amount added to my account was on June 8th. Called the support number but there was no answer. But I guess something sometimes is better than next to nothing anytime.
It’s about time! Thank you Stairs / GroundFloor
The app is great and the interest accrual is accurate. They had an issue with the real time ticker but I knew it was glitchy. Bottom line is you can’t make 6% on cash in anything that’s like a savings account. It’s a beautiful thing to see 100’s of dollars getting generated month after month compound. I love the “just add cash” simplicity and its perfect for anyone who wants to put their money to work.
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Response from developer
Thanks for leaving a review! We're happy you are enjoying Stairs!
App is terrible
I’ve never been able to log into the app it kicks me out everytime. Save yourself some time and just bookmark GROUNDFLOOR to your homepage.
Sad sad stay away
I have been with them form the get go, and boy has it been amateur hour, I would suggest to you stay on the sidelines till they get it right IF THEY EVER DO. I personally don’t see that they care to get it right, release after release after release same problems, new problems.. and you spend more time emailing them and getting their “engineers”
To update than it’s worth.. if they eventually get it correct it could be good. BUT RIGHT NOW STAY AWAY AND DONT INVEST ANYTHING YOUR NOT READY TO POTENTIALLY LOOSE..
To update than it’s worth.. if they eventually get it correct it could be good. BUT RIGHT NOW STAY AWAY AND DONT INVEST ANYTHING YOUR NOT READY TO POTENTIALLY LOOSE..
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Terrible
Okay I ran out of patient with this app. They have problem with bank confirmation for more than 6 months now. I reported it and they said they know about it, so you know about it now what? I can’t deposit money nor confirm my bank account (I tired like 100 times). How many month it takes to solve such small technical bug.
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Needs a whole level of improvement.
I was attracted to this app due to the interest rate and fact that it is owned by ground floor. But the app is terrible and has a mind of its own. It can reduce your balance to any number it pleases. You keep on contacting support and try to keep on getting your balances fixed. I needed to withdraw some money and am not sure how to proceed with it as at present my balance is shown as $0. There is no phone number to speak to a person or chat with someone to solve the problem or help with withdrawal. They don’t give you a monthly statement. Till all these issues are resolved, I would advice to stay away from it.
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Response from developer
Hi there, we apologize for the issues you're facing. You can reach our team at support@stairsapp.com for any questions or concerns, or to check on your account balance.
