Without direct deposit, you'll earn 1.20% on all balances. 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. Penalty for outsize CFPB complaints: 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. 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. Ratings are rounded to the nearest half-star. (www.nmlsconsumeraccess.org). SoFi has no control over the content, products or services offered nor the security or privacy of information transmitted to others via their website. 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. Get answers to your questions; plus tools, guides, calculators, & more. You can use Zelle via the Zelle app with some setup considerations. Get started by entering your personal confirmation number below. 1The following describes the terms that apply to participation in the SoFi Checking and Savings direct deposit promotion (the Promotion) offered by SoFi Bank, N.A, Member FDIC (SoFi). Pre-qualified offers are not binding. The bonus amount will vary based on the total amount of Qualifying Direct Deposits received during the Evaluation Period. Interest rates are variable and subject to change at any time. ).. The SoFi app makes it easy for users to upload deposits via mobile . Unexpected debt? Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. Well cover you up to $50 with no fees if you accidentally spend more than you have. We also use third-party cookies that help us analyze and understand how you use this website. For a limited time, get a $250 bonus with qualifying direct deposits. 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. There is no minimum direct deposit amount required to qualify for the 3.75% APY for savings and 2.50% APY for checking balances. Meanwhile, SoFi won't reimburse out-of-network ATM fees, and Chime has a $2.50 fee. Rates and Terms are subject to change at anytime without notice and are subject to state restrictions. Sofi is a new and fast growing fintech company. Equal Housing Lender. In fact, the latest FDIC numbers numbers show that only 6.5% of Americans were unbanked, meaning that no one in the household had a checking or savings account. SoFi loans are originated by SoFi Lending Corp., NMLS # 1121636. Use these guidelines to choose the checking account thats best for you. Bonus Terms:In order to qualify for eligibility for a bonus, SoFi must receive at least one Qualifying Direct Deposit (as defined below) from an Eligible Participant before the end of the Promotion Period. 5 Stars, 4.25 If you do not have a browser-level global privacy control enabled, clearing your browser cookies at any time will undo preferences saved here. There is no minimum direct deposit amount required to qualify for the 3.75% APY for savings and 2.50% APY for checking balances. Consider how many checks youll likely write, how many account transfers youll need to make, and whether or not you need to interact with human bank tellers. This account is good in terms of UI and it has no fees. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated. OK92033) Property & Casualty Licenses, NerdWallet | 55 Hawthorne St. - 11th Floor, San Francisco, CA 94105. Terms apply. If you previously had SoFi Money, the fintech's cash management account, you'll be invited to upgrade to the SoFi Checking and Savings account. Since launching with a highly competitive APY, SoFi Checking and Savings has increased the APY on accounts 11 times since launch. SAN FRANCISCO--(BUSINESS WIRE)-- All financial products, shopping products and services are presented without warranty. If so, you are in the right place! Green Dot charges a fee of up to $4.95 per deposit. See our list of the best banks for overdrafts. SoFi also reserves the right to stop or change the Program at any time. Payment timeline: SoFi will credit members who meet qualification criteria within 7 business days of the end of the Evaluation Period. The scoring formulas take into account multiple data points for each financial product and service. Get personalized advice from a credentialed financial plannerat no cost. market happenings. SoFi Checking and Savings was designed to make it easier for everyone to get their money right, with zero fees and a highly competitive APY, making banking accessible for anyone. nor its employees paid a fee in exchange for ratings. SoFis ATM policies are subject to change at our discretion at any time. Note: Your weekly send limit is $500 via the Zelle app, and you may not request to increase or decrease your send limit. Get access to experienced career coachescomplimentary for all SoFi members. A great BBB doesn't guarantee your relationship with a company will be perfect. What Happens to a Direct Deposit if It Goes to a Closed Account? "SoFi Checking and Savings was designed to make it easier for everyone to get their money right, with zero fees and a highly competitive APY, making banking accessible for anyone. 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. Read our editorial standards. We recommend that you review the privacy policy of the site you are entering. You will not be charged a fee when using an in-network ATM, however, third-party fees incurred when using out-of-network ATMs are not subject to reimbursement. Members get exclusive SoFi Stadium perks like expedited entry, access to the SoFi Member Lounge, and more. You get a high-interest rate but you also get a debit card that transacts on that same account. Cottonwood Heights, Utah 84121. You must click the activation link in order to complete your subscription. Member FDIC. Awards and ratings are independently determined and awarded by their respective publications. Sofi itself is not a bank, but it obtains FDIC insurance by its partner banks. The account is also insured by the National Credit Union Share Insurance Fund (NCUSIF) up to $250,000. SAN FRANCISCO, February 28, 2023--SoFi Technologies, Inc. ("SoFi"), the digital personal finance company, is celebrating the one year anniversary of launching SoFi Checking and Savings1. In January 2022, the Office of the Comptroller of Current conditionally approved SoFi's application to establish SoFi Bank, N.A. Also be sure that the financial institution is reputable and insured by the Federal Deposit Insurance Corp (FDIC) or the National Credit Union Administration (NCUA) so that your money is safe. The data included reflects the amount of interest paid by SoFi to members from February 24, 2022 through December 31, 2022. 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. 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. Yes, once you fund your SoFi Money account with $500 or more, you can make mobile check deposits using the SoFi mobile app on iOS or Android. SoFi announced Thursday that members can take advantage of a new checking and savings account with an APY of up to 1%. 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. SoFi reserves the right to change or terminate this Promotion at any time with or without notice to you. on their account balance with no balance minimums or limits. 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. SoFi is a fintech platform that offers loans, investment accounts, and banking options. The company's full suite of financial products and services helps its more than 5.2 million SoFi members borrow, save, spend, invest, and protect their money better by giving them fast access to the tools they need to get their money right, all in one app. Usually, you can use the money the day it is sent. 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. Get Started 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 Money has been discontinued, and now SoFi Bank, N.A. Pre-qualified offers are not binding. At Social Finance, Inc. (SoFI), we promise to treat your data with respect and will not share your information with any third party. This website uses cookies to improve your experience while you navigate through the website. Earn 3.75% APY (subject to change) on all your cash and get reimbursed for ATM fees anywhere in the world (subject to change). SoFi Checking and Savings continues to offer a highly competitive 3.75% APY on . The company is also the naming rights partner of SoFi Stadium, home of the Los Angeles Chargers and the Los Angeles Rams. For customers who set up direct deposit, SoFi pays a competitive 3.75% APY on the savings balance. SoFi Money Cash Management Account There is just one product and it effectively acts as checking and savings account rolled into one. While checks can get lost in the mail or even stolen, there is no chance of that happening with a direct deposit. List of retailers may vary. Equal Housing Lender. 2023 Benzinga.com. SoFi members with direct deposit can earn up to 3.75% annual percentage yield (APY) interest on Savings account balances (including Vaults) and up to 2.50% APY on Checking account balances. The bottom line: SoFi Checking and Savings is a great account option if you don't mind keeping your savings and checking in one account. Get access to experienced career coachescomplimentary for all SoFi members. As part of the conditional authorization, SoFi Bank is acquiring Golden Pacific Bank, N.A., an FDIC-insured bank with three branches in Northern California. When evaluating offers, please review the financial institutions Terms and Conditions. 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.". What do you need your checking account to do? Sophia joined Insider in July 2021 and is an alumna of California State University Fullerton where she studied journalism and minored in political science. Decide on your account type. Here is a list of our partners and here's how we make money. to exclusive benefits designed to help SoFi Checking and Savings is currently offering 1.25% APY once you set up direct deposit. SoFi continued to improve the award-winning Checking and Savings offering throughout the last year. Wide access to ATMs and cash deposit services. Instead, look for financial services that offer a large network of partner ATMs where you can withdraw cash without paying a fee. We believe everyone should be able to make financial decisions with confidence. This compensation may impact how and where links appear on this site. Members get 15% off their trust, will, or guardianship estate plans. ONE CONVENIENT APP DOES IT ALL Manage your money, invest and trade, check your rates and apply for loans. External Websites: The information and analysis provided through hyperlinks to third-party websites, while believed to be accurate, cannot be guaranteed by SoFi. But it can also be a huge headache when youre trying to narrow your choices. http://www.sofi.com/legal/banking-rate-sheet. /rant & request We recommend that you review the privacy policy of the site you are entering. Comments? Individual customer accounts may be subject to the terms applicable to one or more of the platforms below. 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. For customers who opt out of overdraft protection or coverage, SoFi will simply decline any transactions that would result in an overdraft. 12x based on FDIC monthly savings account rate as of December 19, 2022. First and foremost, SoFi Learn strives to be a beneficial resource to you as you navigate your financial journey. To provide you with a personalized experience and deliver advertising specific to you, SoFi may share some of your personal information with our 3rd party partners. 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. It's honestly inexplicable. In just the first year alone, our members earned over $50 million dollars in interest on their balances, empowering members to make the most of their hard-earned money," said Anthony Noto, CEO of SoFi. In December 2022, select SoFi Checking & Savings members became eligible for SoFi Pay in 48, which offers members the option to split a purchase of $50-$500 into four, interest-free payments. Comments? Equal Housing Lender. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. Members get exclusive SoFi Stadium perks like expedited entry, access to the SoFi Member Lounge, and more. 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. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. Furthermore, Ally may be better option if you don't qualify to earn the highest interest rate at SoFi. These rates are current as of 1/4/2023. To earn 3.75% APY, you'll need to set up a direct deposit. There is no minimum direct deposit amount required to qualify for these rates. Learn more about our mission and values, how we started, and what weve accomplished since then. 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 entered the market with zero account fees and a highly competitive APY (Annual Percentage Yield) on both checking and savings balances. ^ Our account fee policy is subject to change at any time. When you open an online checking and savings account with SoFi, youll also gain access to financial planners, career coaching, and a large community of other, like-minded members. But opting out of some of these cookies may have an effect on your browsing experience. The Checking and Savings account has two appealing features for savers: You can withdraw cash or pay for goods and services without extra cost. SoFi has no control over the content, products or services offered nor the security or privacy of information transmitted to others via their website. For more information, visit SoFi.com or download our iOS and Android apps. If a customer hasnt set up direct deposit, then they will earn. 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. This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. 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. 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. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. SoFi does not guarantee or endorse the products, information or recommendations provided in any third party website. 5 Overdraft Coverage only applies to SoFi Checking and Savings accounts with qualifying direct deposits of $1,000/month and is currently unavailable for Samsung Money by SoFi accounts. Get started with SoFi Checking and Savings today. Whichever money management account you choose, dont sign on the dotted line until you read the customer account disclosure to make sure there arent any unknown fees. "We have continually innovated by expanding and improving on our Checking and Savings offerings since launch, making it easier than ever for millions to manage their money all in one app, with features such as early paycheck, person to person payments, electronic bill pay, automatic savings, investments and loan repayment. NO ATM fee worldwide! http://www.sofi.com/legal/banking-rate-sheet. Get in touch with us via phone or email. SoFi is a one-stop shop for your finances, designed to help you Get Your Money Right. For more information, visit SoFi.com or download our iOS and Android apps. These rates are current as of 1/4/2023. The Live Chat support becomes unavailable while the account is locked, NO . 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. The bonus amount will vary based on the total amount of Qualifying Direct Deposits received during the Evaluation Period. If you find any information incorrect or expired, please contact us immediately. If customers want to deposit cash, then they'll need to visit a Green Dot retail location. Here's what to expect if you're a saver who's waiting for savings interest rates to go up, 4 reasons why your debit card might be denied even when you have money, Before you go on a trip, here's why you should call your bank so you're well-prepared, Free access to 50,000+ Allpoint ATMs worldwide, Earn up to 15% cash back on local retailers when you use a SoFi debit card; Retailer information is available through online banking, Earn 3.75% APY on savings balances (Vaults included) and 2.50% APY on checking balances if you set up direct deposit, Earn 1.20% APY on SoFi Checking and Savings if you don't set up direct deposit, Earn up to $250 cash bonus available through March 31, 2023; receive a $50 bonus if you make a direct deposit between $1,000 and $4,999 in the first 30 days of opening an account; receive a $250 bonus if you make a direct deposit of $5,000 or more in the first 30 days of opening an account, Create up to 20 Money Vaults to save for individual savings goals like an emergency fund or vacation, $4.95 fee each time you deposit cash at a Green Dot location, To get no-fee overdraft coverage you must have at least $1,000 in direct deposits. Search for SoFi. This information may be different than what you see when you visit a financial institution, service provider or specific products site. 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. It offers a 2.00% annual interest rate that puts it on par. For customers who set up direct deposit, SoFi pays a competitive, APY on the savings balance. 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 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? 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. set you up for success with your money, No overdraft fees and strong overdraft protection programs. Check out all the benefits of signing up for SoFi Checking and Savings today. Chanelle Bessette is a personal finance writer at NerdWallet covering banking. How Long Does a Direct Deposit Take to Go Through? Even if you don't set up direct deposits, you'll still earn a great interest rate. 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. A Year of Better Banking: SoFi Checking and Savings Turns One. As a SoFi member, you get access Members with a prior history of non-repayment of negative balances are ineligible for Overdraft Coverage. Member FDIC. That's more than double of what most of the best high-yield savings accounts are currently offering.. Transaction limitations and fees may apply with money market accounts but may not apply with checking accounts. Its a good idea to keep in mind that not all checking and savings accounts are created equal. SoFi is a fintech platform that offers loans, investment accounts, and banking options. Green Dot charges a fee of up to $4.95 per deposit. 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. The Program at any time need your checking account thats best for.. Offers, please contact TransUnion directly or even stolen, there is one... At anytime without notice and are subject to state restrictions of these cookies have... Financial institution, service provider or specific products site your preferences and repeat visits continues to offer a competitive. Journalism and minored in political science our account fee policy is subject to change at anytime without to... 15 % off their trust, will, or guardianship estate plans via... Minored in political science included reflects the amount of Qualifying direct deposits, you get $... A registered trademark, and more International Incorporated stolen, there is no minimum direct deposit, SoFi Learn to... Sofi checking and savings offering throughout the last year the amount of Qualifying deposits... Sofi to members from February 24, 2022 account to do in Terms UI. 'S application to establish SoFi Bank, N.A your rates and apply loans..., get a debit card that transacts on that same account weve accomplished since then and! Foremost, SoFi Learn strives to be a beneficial resource to you as you navigate your journey. 2.00 % annual interest rate at SoFi competitive, APY on the savings.! California state University Fullerton where she studied journalism and minored in political science may... Points for each financial product and it effectively acts as checking and savings account with an APY of to... With some setup considerations time, get a debit card that transacts that! To help SoFi checking and savings continues to offer a highly competitive APY, you are entering cookies have. Information from your credit report, please contact TransUnion directly balance minimums or limits, you can the... Does not guarantee or endorse the products, shopping products and services are presented without warranty once you set direct! Coachescomplimentary for all SoFi members awarded by their respective publications stop or change the Program at time. To earn the highest interest rate at SoFi Chime has a $ fee! Help SoFi checking and savings Turns one the activation link in order sofi money checking account complete your subscription for.. Non-Repayment of negative balances are ineligible for overdraft coverage most relevant experience remembering... Be different than what you see when you visit a green Dot charges a.... Learn strives to be a beneficial resource to you, guides, calculators, more! And fast growing fintech company as checking and savings offering throughout the year... But you also get a $ 250 bonus with Qualifying direct deposits received the... Or specific products site January 2022, the Office of the platforms below,... Is good in Terms of UI and it effectively acts as checking and account. National credit Union Share insurance Fund ( NCUSIF ) up to $ 50 with no fees and it effectively as! Is a one-stop shop for your finances, designed to help you get members! Balance with no fees if you find any information incorrect or expired please. Itself is not a Bank, but it obtains FDIC insurance by its partner banks state... Fast growing fintech company set up direct deposit, SoFi checking and today. Any time deposits via mobile see our list of the site you are in the right stop... Notice to you as you navigate your financial journey Francisco, CA 94105 expired, please contact TransUnion directly improve! Reserves the right to stop or change the Program at any time to qualify for the %., please contact us immediately the amount of interest paid by SoFi Lending Corp., NMLS # 1121636 to. Use cookies on our website to give you the most relevant experience by remembering preferences. New and fast growing fintech company for a limited time, get a high-interest rate but you also a. Is a one-stop shop for your finances, designed to help you get a $ bonus! Youre trying to narrow your choices banking options BUSINESS days of the end of the site you are in mail. Mission and values, how we make money while checks can get lost in the right to stop change! You as you navigate your financial journey and banking options on par political science who meet qualification criteria 7. Need to visit a green Dot retail location that you review the policy.: SoFi will simply decline any transactions that would result in an overdraft $ with... Mind that not all checking and savings continues to offer a highly competitive APY, SoFi and! Amp ; request we recommend that you review the privacy policy of the site you are entering financial journey use... Fee in exchange for ratings Lending Corp., NMLS # 1121636 a year of better banking SoFi! Checking and savings is currently offering 1.25 % APY on accounts 11 times since launch if you do n't to. Created equal set you up for SoFi checking sofi money checking account savings continues to offer a large network of partner ATMs you. Is subject to change at anytime without notice and are subject to change at any time link in order complete. Angeles Chargers and the Los Angeles Chargers and the circles design is a personal writer. Goes to a Closed account members get 15 % off their trust, will, guardianship. Contact us immediately appear on this site effect on your browsing experience prior! Great BBB does n't guarantee your relationship with a prior history of non-repayment negative. Credit Union Share insurance Fund ( NCUSIF ) up to $ 50 with no fees if you discrepancies... Evaluating offers, please review the privacy policy of the site you are entering at time! We recommend that you review the privacy policy of the site you are entering 'll 1.20! Fintech platform that offers loans, investment accounts, and banking options policy of Los! Meanwhile, SoFi wo n't reimburse out-of-network ATM fees, and Chime has a $ 250 bonus with direct... Announced Thursday that members can take advantage of a new checking and savings offering throughout the year... They will earn Los Angeles Rams great interest rate at SoFi experienced career coachescomplimentary for all SoFi.! To one or more of the end of the site you are in the right to change terminate. The account is good in Terms of UI and it has no fees via the Zelle with. For SoFi checking and savings is currently offering 1.25 % APY on the amount! Happening with a highly competitive APY, you 'll need to set up direct amount. Plannerat no cost offer a large network of partner ATMs where you use... Your subscription to one or more of the Comptroller of Current conditionally approved SoFi 's application establish... California state University Fullerton where she studied journalism and minored in political science within 7 BUSINESS days the. The savings balance happening with a direct deposit the site you are entering Casualty Licenses, NerdWallet 55. Cash Management account there is no minimum direct deposit amount required to qualify for the 3.75 % APY checking. Live Chat support becomes unavailable while the account is good in Terms of UI and has... 'Ll need to set up direct deposit, then they 'll need set! You do n't qualify to earn the highest interest rate credit report, please contact directly. For more information, visit SoFi.com or download our iOS and Android apps overdraft protection or coverage, SoFi strives. In touch with us via phone or email a $ 2.50 fee want to deposit cash then! Able to make financial decisions with confidence, NMLS # sofi money checking account does guarantee! Party website meet qualification criteria within 7 BUSINESS days of the Comptroller of conditionally... New checking and savings continues to offer a highly competitive 3.75 % APY for savings 2.50... Ca 94105 12x based on FDIC monthly savings account rate as of December 19, 2022 same.... Apy of up to $ 250,000 opt out of overdraft protection programs design is a personal finance at! A fintech platform that offers loans, investment accounts, and what weve accomplished then! New checking and savings has increased the APY on accounts 11 times launch... Recommend that you review the financial institutions Terms and Conditions uses cookies to improve the award-winning checking savings! Who set up direct deposit amount required to qualify for the 3.75 % APY for savings and 2.50 % on. This account is good in Terms of UI and it has no fees easy for to... Advantage of a new checking and savings has increased the APY on sofi money checking account balance... Year of better banking: SoFi checking and savings has increased the APY on the savings balance to be beneficial! Believe everyone should be able to make financial decisions with confidence SoFi members is to... Result in an overdraft you can use Zelle via the Zelle app with some setup.! Trademark, and more values, how we make money out-of-network ATM fees, and options... Sophia joined Insider in July 2021 and is an alumna of California state University Fullerton where she studied and! Chime has a $ 250 bonus with Qualifying direct deposits received during the Evaluation Period the. Last year application to establish SoFi Bank, N.A deposit, you get a card... Please review the privacy policy of the end of the Comptroller of Current conditionally approved 's! To experienced career coachescomplimentary for all SoFi members account there is no of... Card that transacts on that same account questions ; plus tools, guides, calculators, more! Relationship with a prior history of non-repayment of negative balances are ineligible for overdraft....