Where are my deposits held?
Your deposits are held in your Stoa embedded bank account held at Griffin bank which we create on your behalf. We will only ever create one bank account for you. The underlying deposits for the Stoa Pots you open are held at Griffin bank. You can only use this account to hold the deposits related to your Stoa Pots.
What happens if I want to withdraw my deposit?
For all Stoa Pots, your deposit is held for 12 months. Only in extenuating circumstances (such as life-changing events) may we, at our discretion, permit an early withdrawal request.
To raise an early withdrawal request, please contact us at [email protected] with the subject header 'Early Withdrawal Request'.
How do I download a transaction statement
If you would like a transaction statement, please reach out to [email protected] with the subject header 'Transaction Statement Request'.
What happens at the end of the deposit term?
Usually 30 days prior to your Pot reaching expiry, you will enter the Offer Acceptance Period. We will reach out to you with a new set of Pots that you can choose to transition your deposit into. This will include:
A Renewal offer – if you want to continue access to the Perk for another period of time (e.g., an additional 12 months). This may require you to adjust your deposit amount.
Other or similar offers. You will also have the opportunity to choose an entirely different Perk if you wish to do so. Similarly, this may require you to adjust your deposit amount.
You will have until 3 days prior to your Pot's expiry date, not inclusive, to inform us if you wish to accept an offer (as mentioned above, this could be a Renewal offer or one we recommend to you or at your request). For example, if your Pot’s expiry date is on a Friday, you have until midnight on the preceding Monday to accept an offer.
If you do not accept an offer, then your deposit will be returned to you as scheduled, on the deposit return date. It is worth noting that, although the deposit return date is the date on which Stoa submits the payment instruction to Griffin bank to return the deposit to your bank account (where you deposited from), it is not guaranteed to arrive on this exact date. This is because it is subject to external factors outside of Stoa, such as your bank's processing times and checks.