Any thoughts about Stashaway simple?

Realised that the account takes a while (3-4 biz days) to be funded and processed after the deposit. Haven’t tried to withdraw but I assume it takes the same amount of time. Not advisable if you need the funds immediately like now or yesterday.

Was intending to park some funds there ahead of using for an investment. The turn around time was too long to make the investment so I had to divert from other accounts. Luckily the amount in the account was small, as a test of the product.

Disclosure: I am a current user of the StashAway with investment in one portfolio, other than StashAway Simple.

Mixed feelings about this one. On the plus side - Its a money market fund, so I think genuinely likely you can get 1.9% (after fees) from this which is a very decent return and still have the flexibility of a at-call deposit.

The minus side - I am a bit upset with the lack of disclosure; there is a management charge with trail rebate - so obviously they are putting the underlying into something; but you have to click through a few areas before they share the underlying funds. There is a few throwaway comments about risk but no proper fund fact sheets as part of the mainline sales process.

Also given that Stashaway is the latest fintech/robo wave - I'd say this looks like an instrument to draw people into their underyling product rather than a long term offering. Tldr - good topline return, take advantage it while you can but it isn't a risk free.