Published 8/20/24 | Updated 9/27/24
For the past 7 years, Grifin has covered 100% of the costs associated with investing - including commission fees, money movement, account openings, management fees, ACH returns, and more - without ever selling any user data or profiting from "payment for order flow" like other companies. ❌
Over the past several weeks, we have sent out communications about our new $5 monthly membership fee, which has now started. This $5 membership goes toward creating the best investing experience, enhancing customer support, and delivering new features, including several exciting new ones launching this month based on your feedback. This change will help ensure our mission remains sustainable for the long run and continue improving Grifin. 💪
Are you a Lifetime Member? 💎
If you were one of the thousands of Grifin users that claimed a Lifetime Membership for $49, then congratulations - you will NOT pay the monthly membership fee, you're all set! In the coming weeks, you will soon see a special badge on your Grifin Profile page indicating that you're a Lifetime Member. 😊
🙋 FAQs:
How will the $5 monthly fee be charged?
The $5 monthly membership fee will be automatically charged to all Grifin accounts that have a Total Account Value of greater than $0.00. In order for Grifin to keep automatically investing on your behalf, you can pay the $5 monthly fee with a credit card of your choice by following these steps:
● Step 2: Open the left side menu
● Step 3: Click "Manage Subscription"
● Step 4: Add your payment method
What will happen if I DON'T add a credit card for my monthly membership fee?
If you do not choose to pay via a credit card, and you have "investable cash" available in your Grifin account (see your Home tab, under where it says "Total Account Value"), the $5 monthly fee will be automatically deducted from your "investable cash" each month.
How do I cancel my subscription and not get charged?
If you would like to cancel your membership and leave Grifin, you must sell all of the stock you own in your Grifin app by pressing the "Sell" button on each company you own. After 1-2 business days, the cash from all the stock sales will appear in your Grifin account.
From there, click the "Withdraw" button on your Grifin app Home tab to withdraw your funds to your linked funding source bank account, explained here. Your cash proceeds will then appear in your bank account within 1-3 business days (depending on the speed of your bank's processing times).
Finally, disconnect all of your banks from both your Funding Source and Transaction Source sections in your Grifin app, to ensure that no further investments are made. Additionally, open your "Investment Settings" and un-check the "Buy Stock Where You Shop" option to turn that off, too.
Once your "Total Account Value" in your Grifin app reaches $0.00, your membership will automatically cancel, and you will not be charged the $5 monthly fee.
For more detailed information about Grifin's fees, please view our Fee Schedule here.