Stairs: Savings App

Wish that Groundfloor would bring back this Stairs app. I loved it as a high yield savings account.

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.

App does not allow withdrawal of available funds to close account.

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.

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

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!

Download and setup was smooth but it keeps canceling my deposits with no explanation….

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.

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.

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.