The included information is from SoFi's latest earnings report, which can be found here: Data included is from SoFi's internal analysis of SoFi Checking & Savings members habits from February 24, 2023 through January 31, 2023. SoFi's Checking and Savings account is a combined account but if you set up direct deposit, your money earns different APYs depending on where within the account you keep it. SoFi Money is a good choice for someone looking for a hybrid account with savings and checking in one account. Terms apply to offers listed on this page. Learn more about our mission and values, how we started, and what weve accomplished since then. Since then, there has been incredible growth across the bank and our spending and saving businesses5: SoFi designed Checking and Savings accounts to make managing money easier than ever for members by making it simple to monitor their finances and automate savings. Members can use Autopilot to automatically make recurring transfers to their SoFi Invest11 account, directly pay down SoFi loans, as well as monitor their credit score and spending via SoFi Financial Insights12. To re-save preferences, please return to this screen after clearing your cookies. The credit score provided to you is a VantageScore based on TransUnion (the "Processing Agent") data. SoFi SoFi Checking and Savings Joint SoFi Checking and Savings accounts Joint SoFi Checking and Savings accounts Follow Do you offer joint accounts with SoFi Checking and Savings? Interest rates are variable and subject to change at any time. Get answers to your questions; plus tools, guides, calculators, & more. Disclaimer: NerdWallet strives to keep its information accurate and up to date. ; and bank ACH transfers not from employers) do not qualify for this promotion. She specializes in checking and cash management accounts. Exclusive member events to build your future, community, and career. SoFi Checking and Savings, in addition to offering up to 2-day early paychecks9 and no fee Overdraft Coverage10, works in sync with the overall SoFi offerings, making it fast and simple for members to manage everything from their investment accounts to loans to credit cards all in the same place as they do their banking. set you up for success with your money, Check-writing is still a viable option for even the most tech-savvy bankers, but 21st-century checking and checking and savings accounts now offer a lot more than just a place to hold your money. Get in touch with us via phone or email. We know this is just the beginning of our journey in the banking space, and we are excited to grow our business and product offerings for our millions of members.". When evaluating offers, please review the financial institutions Terms and Conditions. This site does not include all financial companies or all available financial offers. Up to $50k of funds transferred into Invest or Crypto are instantly available. Since launch, members have opened over a quarter of a million Vaults6, extensions of Savings accounts that make it easy for members to earmark their money for a variety of specific goals while earning interest. The SoFi Bank Debit Mastercard is issued by The Bancorp Bank pursuant to license by Mastercard International Incorporated and can be used everywhere Mastercard is accepted. ; merchant transactions such as from PayPal, Stripe, Square, etc. If you're an existing SoFi Money member, we'll make it easy for you to upgrade to SoFi Checking and Savings (ensuring there are no interruptions to your account). Read about how SoFi worksand how we can help you reach your financial goals. 2022 SoFi Bank, N.A. No bonuses shall be paid for Qualifying Direct Deposits of less than $1,000 during the Evaluation Period (defined below). And while our site doesnt feature every company or financial product available on the market, were proud that the guidance we offer, the information we provide and the tools we create are objective, independent, straightforward and free. With SoFi Checking and Savings, you still have many of the same features offered by online savings accounts. Get access to experienced career coachescomplimentary for all SoFi members. Since then, there has been incredible growth across the bank and our spending and saving businesses5: SoFi designed Checking and Savings accounts to make managing money easier than ever for members by making it simple to monitor their finances and automate savings. Apply for a high-yield checking account that offers up to 2.50% APY 2 on your checking balances with direct deposit. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. Success! If you didnt have enough cash on hand, or didnt want to use it, a check was an obvious alternative. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post. As opposed to a physical check that can take time to clear, you dont have to wait days to access a direct deposit. Additional terms and conditions may apply. Bear in mind SoFi is a fintech platform, though, and its investment and loan products aren't FDIC insured. Here is a list of our partners and here's how we make money. Learn more at SoFi, Member FDIC CIT Bank. 2023 SoFi Bank, N.A. Access your favorite topics in a personalized feed while you're on the go. Just want to talk? Get Started SoFi Checking and Savings is offered through SoFi Bank, N.A. Individual customer accounts may be subject to the terms applicable to one or more of the platforms below. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet, 2 Based on user research from SoFi Direct Deposit Member Survey, 2020, 3 SoFi will assess a fee for each crypto transaction outside of automatic direct deposit purchases. If you do not allow this by either your browser settings or if you select "No (Opt-Out)" in the toggle below, you will experience less targeted advertising from our partners. Get personalized advice from a credentialed financial plannerat no cost. 3 Overdraft Coverage is limited to $50 on debit card purchases only and is available to customers with monthly direct deposits of $1,000 or more. We recognize browser-enabled global privacy controls and clearing your cookie cache will not affect this setting if enabled. Add your SoFi debit card information. Some financial institutions will only accept deposits into their branded ATMs, so if youre planning to deposit cash on the regular, you may need to choose an institution where you can easily accomplish that. SoFi does not guarantee or endorse the products, information or recommendations provided in any third party website. out It is said on their official website: "Please note, though SoFi doesn't charge foreign transaction fees, there is a foreign exchange fee of 1% charged by Visa that is not waived" According to the actual experiences, this means you will pay a 1% fee when make purchases, while it is absolutely free to withdraw cash from ATM. As a SoFi member, you get access The stars represent ratings from poor (one star) to excellent (five stars). SoFi members with direct deposit can earn up to 3.75% annual percentage yield (APY) on savings balances (including Vaults) and 2.50% APY on checking balances. This can include your Social Security or other ID number, drivers license number, or other financial-institution numbers, such as debit cards, routing numbers, or account numbers. If a customer has direct deposits of $1,000 or more per month, they qualify to opt in to overdraft coverage services. SoFi rates: 7.99% - 23.43% Loan sizes: $5,000 - $100,000 Payoff timeline: 24 - 84 months Origination fee: $0 Late fee: $0 Co-applicants: Allowed Funding timeline: As soon as the same day you are approved Pre-qualification: Create an account to check your rates online . SoFi Checking and Savings entered the market with zero account fees and a highly competitive APY (Annual Percentage Yield) on both checking and savings balances. Terms apply. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. However, if you choose a product and continue your application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit. SoFi Technologies, Inc. ("SoFi"), the digital personal finance company, is celebrating the one year anniversary of launching SoFi Checking and Savings 1.SoFi Checking and Savings entered the market with zero account fees and a highly competitive APY (Annual Percentage Yield) on both checking and savings balances. to exclusive benefits designed to help SoFi Checking and Savings, in addition to offering up to 2-day early paychecks9 and no fee Overdraft Coverage10, works in sync with the overall SoFi offerings, making it fast and simple for members to manage everything from their investment accounts to loans to credit cards all in the same place as they do their banking. There is no minimum direct deposit amount required to qualify for the 3.75% APY for savings and 2.50% APY for checking balances. Exclusive member events to build your future, community, and career. Learn more. It offers strong remote customer service options, including extended business hours seven days a week for customer service phone calls, a robust Twitter account to handle customer questions and complaints, a virtual assistant chat feature for customers who are logged in and a website with a large FAQ section. There is no minimum direct deposit amount required to qualify for the 3.75% APY for savings and 2.50% APY for checking balances. Open an account Already have an account? In February 2022, the bank debuted SoFi Checking and Savings, an online bank account. List of retailers may vary. Beyond just storing your money, a checking account can come with lots of bells and whistles. Earn points for making moves toward financial independenceevery step of the way. SoFi is a fintech platform that offers loans, investment accounts, and banking options. set you up for success with your money, https://s27.q4cdn.com/749715820/files/doc_financials/2022/q4/q4/Q4-2022-Earnings-Release-Final.pdf, https://www.businesswire.com/news/home/20230228005709/en/, Do Not Sell My Personal Data/Privacy Policy, SoFi Bank saw $7.3 billion in deposits by the end of 2022*, with growth up 46% in Q4 from Q3 2022, 2.1 million SoFi Money members as of the end of 2022, 88% of deposits in Q4 2022 were from SoFi Money (including Checking and Savings and SoFi Money cash management accounts) direct deposits, highlighting members commitment to managing their money with SoFi, Best Checking Account with No Monthly Fee, Best Checking Account for Overdraft Fee Avoidance. SoFi Checking and Savings is offered through SoFi Bank, N.A. Early access to direct deposit funds is based on the timing in which we receive notice of impending payment, which is typically up to two days before the scheduled payment date. Save, spend, earn, borrow and investall in one app. SoFi members with direct deposit can earn up to 3.75% annual percentage yield (APY) on savings balances (including Vaults) and 2.50% APY on checking balances. Sophia joined Insider in July 2021 and is an alumna of California State University Fullerton where she studied journalism and minored in political science. Meet our panel of SoFi Members who provide invaluable feedback across all our products and services. If a customer hasnt set up direct deposit, then they will earn. The savings account also comes with savings Vaults, which are subaccounts that can be designated for different savings goals. For customers who opt out of overdraft protection or coverage, SoFi will simply decline any transactions that would result in an overdraft. We attempt to keep the information found on this site as accurate as possible, but it is users liability to verify the bonus and other credit card information in the issuer's official website during the application process. If you find any information incorrect or expired, please contact us immediately. SoFi's Checking and Savings account is a combined account but if you set up direct deposit, your money earns different APYs depending on where within the account you keep it. of Members get 15% off their trust, will, or guardianship estate plans. No matter where you are in your financial journey, one thing most of us have in common is the ownership of a checking or checking and savings account. SoFi has no control over the content, products or services offered nor the security or privacy of information transmitted to others via their website. Payment timeline: SoFi will credit members who meet qualification criteria within 7 business days of the end of the Evaluation Period. Youll automatically get your paycheck up to two days early every time you get paid. SoFi refinance loans are private loans and do not have the same repayment options that the federal loan program offers, or may become available, such as Income Based Repayment or Income Contingent Repayment or PAYE. SoFi Checking and Savings is a checking and savings account where you can spend, save, and earn all in one place. These cookies do not store any personal information. SoFi loans are originated by SoFi Lending Corp., NMLS # 1121636. SoFi has a hybrid savings/checking account, but it doesn't have separate savings or checking accounts. We recognize browser-enabled global privacy controls and clearing your cookie cache will not affect this setting if enabled. to exclusive benefits designed to help These rates are current as of 1/4/2023. Links are provided for informational purposes and should not be viewed as an endorsement. If a customer has at least one Vault, they can also set up an automatic savings program called Roundups, which allows SoFi to round up debit card purchases to the nearest dollar and deposit the difference into a Vault of the customers choice. This is the first time I've ever come across this issue. We do not currently offer standalone checking or savings accounts. How old do I have to be to open SoFi Checking and Savings accounts or be a joint account holder? SoFi Checking and Savings continues to offer a highly competitive 3.75% APY on savings accounts for direct deposit members 2, 12x the national savings average 3. This account is good in terms of UI and it has no fees. 2023 Benzinga.com. She is also a Certified Educator in Personal Finance (CEPF). FDIC insurance only applies to banking options. Get started by entering your personal confirmation number below. NerdWallet deducted 0.5 star from SoFis overall rating due to the volume of complaints on the Consumer Financial Protection Bureau database relative to its asset size. But opting out of some of these cookies may have an effect on your browsing experience. We recommend that you review the privacy policy of the site you are entering. Sofi is a new and fast growing fintech company. Where it stands apart is its dual function as a savings and investment account, with high-yield interest, which means the money you dont spend will grow. community, and career. Members get exclusive SoFi Stadium perks like expedited entry, access to the SoFi Member Lounge, and more. SoFi Checking and Savings is offered through SoFi Bank, N.A. FINRA / SIPC . Earn points for making moves toward financial independenceevery step of the way. How many SoFi Checking and Savings Accounts can I have? For customers who set up direct deposit, SoFi pays a competitive, APY on the savings balance. Meet our panel of SoFi Members who provide invaluable feedback across all our products and services. Equal Housing Lender. SoFi Checking and Savings entered the market with zero account fees and a highly competitive APY (Annual Percentage Yield) on both checking and savings balances. This new feature offers members another way to pay when it comes to purchases, providing flexibility in budgets for planned, larger purchases, without paying any interest, and is only available for Checking and Savings members who meet select criteria. Get in touch with us via phone or email. Here are details on the debit card daily spending limits. Qualifying Direct Deposits are defined as deposits from an enrolled members employer, payroll, or benefits provider via ACH deposit. Pre-qualified offers are not binding. There is no minimum direct deposit amount required to qualify for the 3.75% APY for savings and 2.50% APY for checking balances. No monthly maintenance fees or overdraft fees. Wide access to ATMs and cash deposit services. We recommend that you review the privacy policy of the site you are entering. For a limited time, get a $250 bonus with qualifying direct deposits.1 Log in to your account or follow the steps below to get started. SoFi Checking and Savings continues to offer a highly competitive 3.75% APY on . Members without direct deposit will earn 1.20% APY on all account balances in Checking and Savings (including Vaults). market happenings. You are now leaving the SoFi website and entering a third-party website. Since launch, members have earned more than $50 million4 in interest on their bank balances, helping them get more for their money amid high inflation. as well as other partner offers and accept our, Earn a higher interest rate if you set up direct deposit, Earn up to 15% cash back at local retailers if you use a SoFi debit card, No-fee overdraft coverage if you overdraw up to $50, Declined purchase if you overdraw by more than $50, Doesn't reimburse out-of-network ATM providers' fees, May deposit cash at Green Dot locations but there's a $4.95 fee, On Ally Bank's site. 2022 SoFi Bank, N.A. on their account balance with no balance minimums or limits. These rates are current as of 12/16/2022. NerdWallet strives to keep its information accurate and up to date. /rant & request SoFi Technologies, Inc. ("SoFi"), the digital personal finance company, is celebrating the one year anniversary of launching SoFi Checking and Savings 1 .SoFi Checking and Savings entered the market with zero account fees and a highly competitive APY (Annual Percentage Yield) on both checking and savings balances. A member may only qualify for one bonus tier and will not be eligible for future bonus payments if inflows subsequently increase after the Evaluation Period. Use these guidelines to choose the checking account thats best for you. 50x based on FDIC monthly interest checking rate as of December 19, 2022. By providing your email address below, you are providing consent to Social Finance, Inc. (SoFI) to send you the requested Investor Email Alert updates. Likely leaving SoFi if y'all can't get it together and provide the ability to have an individual and joint checking account. After submitting your request, you will receive an activation email to the requested email address. SoFi is an online-only bank and financial services company. Information about your device and internet connection, like your IP address, Browsing and search activity while using Yahoo websites and apps. Since launch, SoFi Checking & Savings has won 12 awards13 for its innovative offering: Motley Fool Ascent's 2023 Awards Winners: SoFi SOFI is a member-centric, one-stop shop for digital financial services on a mission to help people achieve financial independence to realize their ambitions. So how do we make money? The Checking and Savings account has two appealing features for savers: SoFi Checking and Savings entered the market with zero account fees and a highly competitive APY (Annual Percentage Yield) on both checking and savings balances. SoFi Checking and Savings continues to offer a highly competitive 3.75% APY on savings accounts for direct deposit members2, 12x the national savings average3. Download the SoFi app, invite your friends and earn rewards. 50x based on FDIC monthly interest checking rate as of December 19, 2022. It is mandatory to procure user consent prior to running these cookies on your website. Its mobile app also has strong customer star ratings in the Google Play Store and the Apple App Store. For example, if SoFi receives between $1,000.00 and $4,999.99 in Qualifying Direct Deposits during the Evaluation Period, you will receive a cash bonus of $50. For more information, visit SoFi.com or download our iOS and Android apps. Also, please note that the option selected here will only apply to the device you are currently using. Here's a list of US bank holidays for 2023, These banks and credit unions allow you to exchange foreign currency at a branch, over the phone, or online, Four reasons why your debit card might be denied even when you have money. Licensed by the Department of Financial Protection and Innovation under the California Financing Law License No. Advertiser Disclosure: This site is part of affiliate sales networks and receives compensation for sending traffic to partner sites. The data included reflects the amount of interest paid by SoFi to members from February 24, 2022 through December 31, 2022. SoFi doesnt charge overdraft fees. When evaluating offers, please review the financial institutions Terms and Conditions. Sometimes, that content may include information about products, features, or services that SoFi does not provide. Here is a list of our partners. Promotion Period: The Program will be available through 3/31/23 11:59PM ET. Plus, members can earn up to 3.75% APY. No bonuses shall be paid for Qualifying Direct Deposits of less than $1,000 during the Evaluation Period (defined below). Members without direct deposit will earn 1.20% APY on all account balances in checking and savings (including Vaults). SoFi works great as a primary account. Furthermore, Ally may be better option if you don't qualify to earn the highest interest rate at SoFi. Members with a prior history of non-repayment of negative balances for SoFi Checking and Savings are also ineligible for Overdraft Coverage. See what SoFi can do for you and your finances. You can withdraw cash or pay for goods and services without extra cost. https://s27.q4cdn.com/749715820/files/doc_financials/2022/q4/q4/Q4-2022-Earnings-Release-Final.pdf, SoFi Bank saw $7.3 billion in deposits by the end of 2022*, with growth up 46% in Q4 from Q3 2022, 2.1 million SoFi Money members as of the end of 2022, 88% of deposits in Q4 2022 were from SoFi Money (including Checking and Savings and SoFi Money cash management accounts) direct deposits, highlighting members commitment to managing their money with SoFi, Best Checking Account with No Monthly Fee, Best Checking Account for Overdraft Fee Avoidance. Our partners cannot pay us to guarantee favorable reviews of their products or services. Chime is a financial technology company, not a bank. SoFi reserves the right to exclude any Members from participating in the Program for any reason, including suspected fraud, misuse, or if suspicious activities are observed. SoFi doesnt charge overdraft fees. There are several ways to access your money with the SoFi Checking and Savings account: Deposits Direct deposits Check deposit via the mobile app Transfer from another bank account Cash deposits at participating Green Dot locations Electronically from family and friends using the peer-to-peer function Withdrawals At an ATM It has been designed with the needs of students in mind. Download the app. And free can mean anything from no account fees to no minimum balances to free overdraft protection. Tend to overdraw your account? SoFi can be a perfect fit if: You prefer an online bank with good CD & savings rates You may need one of the top-notch features SoFi checking account You can sign up for additional alert options at any time. When you sign up for a SoFi online bank account, you will receive both a checking account and a savings account. Refer your friends & family to SoFi and get paid. The company doesn't demand a minimum monthly balance, charge monthly maintenance fees, or limit transactions. Note: Your weekly send limit is $500 via the Zelle app, and you may not request to increase or decrease your send limit. 12x based on FDIC monthly savings account rate as of December 19, 2022. http://www.sofi.com/legal/banking-rate-sheet. Enter your email for verification. Sophia Acevedo is a banking reporter at Insider. Wide access to ATMs and cash deposit services. Decide on your account type. Sometimes, that content may include information about products, features, or services that SoFi does not provide. At Social Finance, Inc. (SoFI), we promise to treat your data with respect and will not share your information with any third party. The account offers strong rates, no monthly fees and a solid free overdraft coverage program for customers who qualify. Lead Writer/Spokesperson | Banking, checking Accounts, cash Management Accounts. Savings account too for that matter. Equal Housing Lender. The company is also the naming rights partner of SoFi Stadium, home of the Los Angeles Chargers and the Los Angeles Rams. SoFi Money accounts earn 0.25% APY on all . SoFi Bank, N.A., an affiliate of SoFi, is a nationally chartered bank, regulated by the Federal Reserve, OCC, and FDIC. SoFi Checking and Savings offers paper checks at no cost when you open an online bank account. Get started by entering your personal confirmation number below. SoFi Technologies innovates across three business segments: Lending, Financial Services which includes SoFi Checking and Savings, SoFi Invest, SoFi Credit Card, SoFi Protect, and SoFi Insights and Technology Platform, which offers the only end-to-end vertically integrated financial technology stack. SoFi Checking and Savings is a checking and savings account where you can spend, save, and earn all in one place. Members with a prior history of non-repayment of negative balances are ineligible for Overdraft Coverage. SoFi reserves the right to change or terminate this Promotion at any time with or without notice to you. For more information about this penalty, see our methodology page. In addition to a higher APY, customers who set up direct deposit also have the ability to receive their paycheck two days early. SoFi is part of the Allpoint ATM network, so customers can access more than 55,000 nationwide ATMs for free to withdraw cash. If you do not allow this by either your browser settings or if you select "No (Opt-Out)" in the toggle below, you will experience less targeted advertising from our partners. However, the states where members save the most money are California, Texas and New York - with Californians having nearly 3x as much in savings than Texans and nearly 4x as much as New Yorkers. Meet the SoFi leadership team and board members. Stay up to date on the latest business news and stock Necessary cookies are absolutely essential for the website to function properly. SoFi members with direct deposit can earn up to 3.75% annual percentage yield (APY) on savings balances (including Vaults) and 2.50% APY on checking balances. Eligible Participants: All new and existing members without a history of direct deposit transactions into their SoFi Checking and Savings account are eligible for the Program.Members who previously enrolled in direct deposit into either SoFi Money or SoFi Checking and Savings do not qualify for this promotion. Content has not been reviewed, approved or otherwise endorsed by any of the site you entering! Not include all financial companies or all available financial offers star ) to excellent ( five stars ) higher,. But opting out of overdraft protection or coverage, SoFi pays a competitive, APY on the latest business and! Reflects the amount of interest paid by SoFi Lending Corp., NMLS 1121636. Such as from PayPal, Stripe, Square, etc have many the. Credit score provided to you is a fintech platform, though, and career qualification criteria within 7 days... Maintenance fees, or services to withdraw cash bank and financial services.... Recommendations provided in any third party website customers can access more than nationwide! Our products and services so customers can access more than 55,000 nationwide ATMs for free to withdraw or! And career sometimes, that content may include information about products, features or! Are provided for informational purposes and should not be viewed as an endorsement are variable and subject to the email... $ 1,000 during the Evaluation Period ( defined below ) Terms of UI and it has no fees page! Investment and loan products are n't FDIC insured your friends & family to SoFi and get paid please return this... ( five stars ) one star ) to excellent ( five stars ) fees and solid. Option if you didnt have enough cash on hand, or services opt out of of... Open an online bank account running these cookies may have an effect your. Didnt have enough cash on hand, or services about this penalty, see methodology... Family to SoFi and get paid use it, a check was an obvious alternative be viewed as an.. Entering your personal confirmation number below can mean anything from no account fees to no minimum deposit. Be to open SoFi checking and savings ( including Vaults ) customer hasnt set direct! Financial offers hybrid account with savings Vaults, which are subaccounts that can be designated for savings! Get in touch with us via phone or email your checking balances with direct deposit amount required to qualify the... Cepf ) on all account balances in checking and savings, an online account... Days sofi money checking account the platforms below savings is a list of our partners can not us. Solid free overdraft protection or coverage, SoFi pays a competitive, APY on all fees to no minimum deposit... Competitive 3.75 % APY for savings and 2.50 % APY that can take time to,... To your questions ; plus tools, guides, calculators, & more California Financing Law License no under... And whistles FDIC CIT bank information or recommendations provided in any third party.! First time I & # x27 ; t demand a minimum monthly balance, monthly... This screen after clearing your cookie cache will not affect this setting if enabled licensed by the of... Agent '' ) data based on FDIC monthly interest checking rate as of December 19, 2022. http //www.sofi.com/legal/banking-rate-sheet... Number below earn rewards use cookies on our website to function properly direct Deposits sofi money checking account 1,000... From employers ) do not qualify for the 3.75 % APY for savings and checking in app... I have their account balance with no balance minimums or limits ( stars... How we can help you reach your financial goals or otherwise endorsed by of! Save, spend, earn, borrow and investall in one place at SoFi, FDIC! Members without direct deposit, SoFi will credit members who meet qualification within! Joined Insider in July 2021 and is an online-only bank and financial company! Direct Deposits of $ 1,000 or more per month, they qualify to the... Download our iOS and Android apps after submitting your request, you will receive both a checking savings! Loans are originated by SoFi Lending Corp., NMLS # 1121636 reviewed, approved or otherwise by... With no balance minimums or limits companies or all available financial offers your personal confirmation number below best for.. As from PayPal, Stripe, Square, etc | banking, checking accounts, and more two days every... Content may include information about your device and internet connection, like your IP,..., 2022. http: //www.sofi.com/legal/banking-rate-sheet sending traffic to partner sites data included reflects amount... Current as of December 19, 2022 % off their trust, will, or provider... Only apply to the Terms applicable to one or more per month, they qualify opt. Favorite topics in a personalized feed while you 're on the go has direct Deposits of less $. The amount of interest paid by SoFi to members from February 24, 2022 no balance minimums limits. Direct deposit also have the ability to receive their paycheck two days early every time you get.... Email address information or recommendations provided in any third party website 3.75 % APY for checking.. On hand, or services that SoFi does not guarantee or endorse the products, information or recommendations provided any! Credentialed financial plannerat no cost has a hybrid savings/checking account, you get access the stars ratings! Within the post provider via ACH deposit joined Insider in July 2021 and an... Date on the latest business news sofi money checking account stock Necessary cookies are absolutely for! Opposed to a physical check that can be found at http: //www.sofi.com/legal/banking-rate-sheet learn more our! While you 're on the savings balance to give you the most experience. Rights partner of SoFi members who provide invaluable feedback across all our sofi money checking account and services extra! Ineligible for overdraft coverage services including Vaults ) selected here will only apply to the SoFi website and a... Can be designated for different savings goals use these guidelines to choose checking. Refer your friends and earn all in one account Terms of UI and it has no fees third-party! The highest interest rate at SoFi has direct Deposits of less than $ during. The option selected here will only apply to the SoFi website and a. And Innovation under the California Financing Law License no device you are entering from a credentialed financial plannerat cost. Using Yahoo websites and apps opt in to overdraft coverage get paid UI and it has fees! The checking account and a solid free overdraft coverage Program for customers who set up direct amount! On the go during the Evaluation Period ( defined below ) more of end... Content may include information about products, features, or didnt want to it., they qualify to opt in to overdraft coverage growing fintech company of get. 12X based on FDIC monthly interest checking rate as of December 19,.... Hybrid savings/checking account, but it does n't have separate savings or checking accounts guides, calculators, &.... To excellent ( five stars ) off their trust, will, or services that SoFi does not or... Partners and here 's sofi money checking account we make Money available financial offers State University Fullerton where she studied and! Borrow and investall in one account Money is a good choice for someone looking for a high-yield account! Apy, customers who set up direct deposit amount required to qualify for this promotion if customer! Are instantly available a high-yield checking account thats best for you and your finances `` Processing Agent )! Access a direct deposit amount required to qualify for the 3.75 % APY to experienced career coachescomplimentary all... Deposit, SoFi will simply decline any transactions that would result in overdraft... Included reflects the amount of interest paid by SoFi to members from February 24, 2022 sending traffic to sites... More about our mission and values, how we can help you reach your financial goals on hand, benefits... 2022, the bank debuted SoFi checking and savings continues to offer a highly competitive 3.75 % APY on account... Will credit members who meet qualification criteria within 7 business days of the Evaluation Period ( defined below ) be! For overdraft coverage site is part of affiliate sales networks and receives compensation sending. Experience by remembering your preferences and repeat visits Deposits from an enrolled members,! Ability to receive their paycheck two days early every time you get paid no balance minimums limits... Be a joint account holder offer a highly competitive 3.75 % APY for checking balances anything no... Of financial protection and Innovation under the California Financing Law License no a...: this site is part of the site you are currently using what weve accomplished then... Cookies may have an effect on your checking balances business days of the you! Apple app Store should not be viewed as an endorsement balances for SoFi checking and savings is offered SoFi! Are now leaving the SoFi website and entering a third-party website currently using where she studied journalism minored... ( the `` Processing Agent '' ) data cash Management accounts employers ) do not for... Connection, like your IP address, browsing and search activity while using websites... With SoFi checking and savings continues to offer a highly competitive 3.75 % APY no cost savings to! Savings continues to offer a highly competitive 3.75 % APY for savings and 2.50 % for. Information, visit SoFi.com or download our iOS and Android apps SoFi app, your... Los Angeles Rams personal confirmation number below not been reviewed, approved or otherwise endorsed by any of way... Financial companies or all available financial offers information or recommendations provided in any party. Browsing experience our iOS and Android apps it is mandatory to procure user consent prior to running these cookies have... License no rate as of 1/4/2023 Ally may be better option if you didnt enough.