This is because paying almost $60 per year is a massive fee for very small accounts, which might be what your child has. The announcement of switching to a paid membership structure isn't great news for Stockpile. Lifetime membership: $19.95 (available for a limited time).Monthly Stockpile membership: $4.95 per month ($59.40 per year).However, as of July 15th, 2022, you need to pay for a Stockpile monthly membership to use the platform. In late 2021, Stockpile went fee-free and doesn't charge commission for stock and ETF trades. The material is presented in simple terms that can be easily understood by an investment novice or even a child. In addition to the purchase of cards, the Stockpile website also has some excellent educational material. They can hold the shares with Stockpile, but fractional shares cannot be transferred to another broker. One other important point is that the gift recipient is likely to use the gift card to purchase fractional shares. The account requires no minimum balance, but Stockpile is switching to a monthly paid membership model that costs $4.95 per month (more on that below). All trades are settled and cleared through Apex Clearing Corporation, which is also a member of both FINRA and SIPC. The brokerage account is held through Stockpile Investments, Inc., a registered broker-dealer, FINRA member and SIPC participant. The gift card can also be used to purchase a stock other than the one actually listed on the card.

citizens and residents can open a Stockpile brokerage account and redeem the cards for stock. Fortunately, if the recipient can’t redeem the gift card for stock or chooses not to, the card can be swapped for a retailer gift card. Or the company may even go out of business or discontinue the program.Īnyone can purchase a Stockpile gift card. But only U.S. In the intervening years, the gift card may be lost or forgotten. Since the gift cards never expire, the recipient could simply wait until he turns 18 to open an account. Since the recipient is often not of legal age, the parents will have to open a custodial account in his name. In order to redeem a gift card, the recipient must open a brokerage account with Stockpile. (Check availability at specific stores, as not all stores in the same chain will carry the cards.) Redeeming Stockpile gift cardsĪs easy as it is to purchase a Stockpile gift card, redeeming it for actual stock isn’t nearly as simple. You can also buy physical gift cards in some stores. These include major retailers, such as Kmart, Kroger, Lowe’s, and Toys“R”Us. Once you have completed the page, you can click the “Checkout” button.Īt the checkout page, you have the option to pay by credit card, debit card, or PayPal. You can also leave an optional gift message. Here, you provide the recipient’s name and email address and also add your name as the giver. Once you’ve done that, click “Next” and you’re brought to the recipient page. Now you select the amount of the card: $25, $50, $100, $200, or another amount. That’s where you select the dollar amount you want on the gift card. After choosing the stocks, click “Next” at the bottom, and you’ll be brought to the Choose Amount page.

Once there, you can check the stocks that you want to purchase gift cards for. This takes you to the stock selection page. When you’re on the Stockpile website, click “Buy” at the top of the page. They have no expiration date so that they can be redeemed at any time. The cards are issued by Stockpile Gifts, Inc., and can be purchased either as e-gifts or as physical gift cards. The variety of companies is enough to get kids excited about investing, and there's over 1,000 companies to choose from. Stockpile gift cards are available towards the purchase of stock in hundreds of well-known companies like: The first is buying the gift cards, and the second takes place when the recipient exchanges the card for stock. There are two parts to Stockpile's gift card program. Phone: M-F 9A-6P ET email How does Stockpile work?īy offering small amounts of stocks - commonly referred to as “ fractional shares” -and making investing in household-name companies accessible to a broad audience, Stockpile fills the gap left by Loyal3, which shut down unexpectedly in May 2017.

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