Janice Lozano
The Stash investment app is a popular tool for college students and recent graduates to start investing and saving money. It offers automated and DIY investing with a low minimum balance of $5 to start investing. However, to use Stash, a Social Security number is required, which may pose a challenge for international students. While there is no specific law preventing international students on F1 visas from stock trading, their visa type may impact their ability to open a Stash account. International students should review the eligible visa types and ensure they can provide the necessary documentation before signing up for Stash.
| Characteristics | Values |
|---|---|
| User Type | US Citizens, Legal residents of the United States with a Green Card, or certain visa holders |
| Visa Types | E1, E2, E3, F1, H1B, L1, O1, or TN1 |
| Social Security Number | Required |
| Account Types | Stash Growth ($3/month), Stash+ ($9/month) |
| Investment Types | Individual brokerage account, ETFs, US stocks, international stocks, US bonds, international bonds, fractional shares |
| Additional Features | Life insurance access through Avibra, educational tool for users |
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What You'll Learn
Visa requirements for international students
To use Stash as an international student, you must be a legal resident of the United States with a valid visa. Stash accepts the following visa types: E1, E2, E3, F1, H1B, L1, O1, or TN1.
Now, for the visa requirements for international students: To study in the US as an international student, you must obtain a student visa. There are two non-immigrant visa categories: F and M visas. The F-1 Visa is for full-time international students pursuing academic studies, while the M-1 Visa is for those pursuing vocational studies. To qualify for an F-1 Visa, you must be enrolled in an academic program, language-training program, or vocational program at an accredited institution. Your school must be approved by the Student and Exchange Visitor Program (SEVP), and you must be enrolled in courses that are certified by the SEVP. Additionally, you must demonstrate English proficiency or be enrolled in courses leading to English proficiency, have sufficient funds for self-support during your studies, and maintain a residence abroad.
The process of obtaining a student visa involves an interview with a consular officer, who will determine your eligibility. As part of the application process, ink-free digital fingerprint scans will be taken. After your visa interview, you may need to pay a visa issuance fee, depending on your nationality. It's important to note that a visa does not guarantee entry into the US; it only allows you to travel there.
The J-1 exchange visitor visa is another option for international students. This visa is for foreign nationals participating in work-and-study-based exchange programs, such as visiting scholars, camp counselors, au pairs, or research assistants. Students with F-1, M-1, or J-1 visas may be eligible to work in the US, but their work is typically limited to on-campus jobs or positions related to their studies.
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Social Security Number needed
Stash is a platform that is open to US citizens and legal residents of the United States with valid visas. The eligible visa types include E1, E2, E3, F1, H1B, L1, O1, and TN1. To use Stash, a Social Security Number (SSN) is required. This is for two reasons: The Patriot Act, which requires financial institutions to obtain, verify, and record information to identify each person opening an account, and for tax reporting purposes, as Stash issues all clients a tax reporting form at the end of the year.
The Social Security Administration (SSA) assigns a nine-digit Social Security number to each US citizen and eligible US resident. This number is used to track an individual's income over their lifetime for Social Security benefits. It is also used for tax purposes and to verify identity.
To obtain a Social Security Number, an international student must first check their eligibility. F-1 students are eligible to apply for an SSN if they have an offer of employment in a position that is considered essential to their studies. M-1 students are not eligible for SSNs. Students must then gather the necessary documents, which include their passport, I-94 form, I-20 or DS-2019 form, and proof of employment if applicable. They can then take these documents to their local Social Security office and fill out an application form.
It is important to note that the process and requirements for obtaining an SSN may vary depending on the individual's specific situation and visa status. It is always recommended to consult official government sources or seek advice from an international student advisor for the most accurate and up-to-date information.
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Eligibility for F1 students
Stash is a platform that makes saving money easy and rewarding for its customers. It is open to US citizens and legal residents of the United States with valid visas of types E1, E2, E3, F1, H1B, L1, O1, or TN1.
For F1 students, the visa needs to be accompanied by a Social Security Number (SSN). This is because all financial institutions are mandated by the Patriot Act to obtain, verify, and record the SSN of each person opening an account. Additionally, Stash requires an SSN to issue a tax reporting form to its clients at the end of the year.
F1 students with a valid visa and SSN can, therefore, use Stash to save money and access financial guidance. They can also take advantage of features such as automatically putting money into savings and earning rewards by setting up payroll contributions.
It is important to note that Stash is not open to individuals with certain visa types (B1, C1, H2B, H3, or K1) and cannot accommodate people with visas not mentioned in the eligible list. Additionally, Stash does not open accounts for DACA recipients.
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DACA recipients eligibility
Stash is a platform that makes saving money easy and rewarding for millions of customers. It is, however, not open to DACA recipients.
DACA, or Deferred Action for Childhood Arrivals, is a program that provides temporary protection from deportation and work authorization for young immigrants who were brought to the US as children. DACA recipients are not eligible for a Stash account because they do not have Social Security Numbers, which are required by Stash and all financial institutions due to the Patriot Act.
To be eligible for DACA, individuals must have been brought to the US as children and meet several other guidelines. DACA recipients can renew their status and work authorization every two years. They can also travel outside the US, but they must first obtain advance parole to reduce the risk of being unable to re-enter.
While DACA recipients can work, they are not eligible for federal health coverage through programs like Medicaid, the Children's Health Insurance Program (CHIP), and the Affordable Care Act (ACA) health insurance marketplaces. This has resulted in higher uninsured rates among DACA recipients and barriers to accessing healthcare. The Biden Administration attempted to expand eligibility for ACA Marketplaces to include DACA recipients, but as of January 2025, this expansion is blocked in 19 states due to pending litigation.
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Stash's availability outside the US
Stash is a financial service available to US citizens and legal residents of the United States. To use Stash, you must have a Social Security Number and one of the following valid visa types: E1, E2, E3, F1, H1B, L1, O1, or TN1.
Stash is not available to people with visa types other than those listed above. Additionally, Stash cannot accommodate DACA recipients or those without a Social Security Number.
If you are an international student in the US with a valid visa type, you may be able to use Stash. However, it is important to note that Stash requires all users to have a Social Security Number, which may be a limiting factor for some international students.
It is always recommended to review the eligibility requirements and terms and conditions before signing up for any financial service, including Stash.
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Frequently asked questions
Yes, international students can use Stash. However, to use Stash you must have a Social Security number and be on one of the following visa types: B1, C1, H2B, H3, or K1.
You can sign up for a Stash account through the robo-advisor's website or app. You'll need to provide your bank account information, Social Security number, age and proof of identity. After paying the monthly subscription fee, you can fund your account and start investing.
You only need $5 to open an account and start investing with Stash.
Stash makes saving money easy, fun and rewarding for millions of customers. Stash offers automated investing and DIY investing, a banking account with no overdraft fees or minimum balance, and a tool to educate users about investing.
Alternatives to Stash include Acorns, Betterment, and Robinhood.
