September is Nearly Ended and still No new Stash Accounts

When should we expect stash accounts to reopen because on the roadmap it says July-September and with it being the 29th of September and still no Stash I’m getting worried. Can we get a time frame for when you will reopen?

Hi @lachiec_isme - thanks for getting in touch :blush:

We’re aiming to re-open our Stash accounts within the next few months. Unfortunately this was pushed out as we balance priorities. We don’t have a firmer ETA to share just yet - but as soon we do we’ll let you know.

Hi Lotto

You guys seem to be getting a bit of a hammering here, but I like many I suspect joined Xinja to get a half-decent interest rate on savings.

Can you provide even scant details on what is causing the extended delays? Are they technical issues? Or regulatory?

Or is it because the Stash interest rate is 1.5% on $150k (down from 2.25% on $245k) which is 125bps over RBA cash rate? The cash rate isn’t going to 1.5%++ in the next few months, so do we conclude that we will be waiting while Xinja launches and grows it’s loan book?

If that is the case, what is the realistic time frame on this? I believe your road map is no longer accessible, and from what I have read here, it wasn’t entirely reliable.

I opened an account so I could get a Stash account sooner rather than later, but all I have is a Xinja bank account paying 0%. I’d be foolish to put even $1 into this account. Other neo banks are offering 1.45%, and non-neos are paying up to 1.5% albeit with some obligations.

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Hi @Jon - to echo @xinjalotto we want to reopen Stash as soon as we can, but there are multiple factors affecting the decision on when. I’m sorry we can’t be clearer but at the moment, we genuinely don’t know.

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