Stable Money App Review: Is it Safe, Convenient & Reliable?

Описание: To truly understand the reliability of Stable Money, we put the app to the test by investing in some FDs offered on the platform. Here's what we discovered:

Short answer: Not yet.

Here’s why:

1. Limited Bank Partnerships: While Stable Money promotes itself as a comprehensive FD marketplace, the reality is that it currently has partnerships with only a handful of banks, primarily small finance banks. The absence of major banks on the platform limits your options significantly.

2. Bank Account Opening Hurdles: Contrary to its claims of eliminating the need for multiple bank accounts, we found that for many FD investments, you still need to open a bank account. While the app offers some guidance in opening zero-balance online accounts quickly, it's not as seamless as advertised.

3. Video-KYC Challenges: The video-KYC process, which is crucial for finalising your investment, proved to be a major problem. This process is handled by the bank's internal team, not Stable Money, leading to inconsistencies and frustrations. In our experience, one out of two KYC attempts failed because the bank executive unexpectedly ended the call. Re-attempting the KYC isn't straightforward, and many users have reported similar issues.

4. Instant Withdrawal Limitations: While Stable Money claims to offer instant withdrawals, this feature is currently available with only two partner banks - Suryoday SF Bank and Unity SF Bank. For other banks, withdrawals can take 1-2 working days, which isn't ideal for investors who prioritise liquidity.

These shortcomings make us question the platform’s reliability for emergency funds.

To read our in-depth detailed analysis of the Stable Money app for FD investments check out our blog.

Link - https://wp.me/pe5xoh-1tJ

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