In March, SoFi announced that SoFi Checking and Savings members will be able to protect up to $2 million in deposits through the SoFi Insured Deposit Program. 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.įor customer support call or use live chat anytime from 5 a.m. In January 2022, the Office of the Comptroller of Current conditionally approved SoFi's application to establish SoFi Bank, N.A. The SoFi Checking and Savings account is offered through SoFi Bank, National Association (N.A.). SoFi is a fintech platform that offers loans, investment accounts, and banking options.
SoFi Checking and Savings is an excellent choice for people who don't want to deal with standard bank fees, and still earn a strong interest rate. The bonus will be deposited into SoFi Checking and Savings around seven business days after the 25-day period. You'll earn a $50 cash bonus if you receive direct deposits between $1,000 and $4,999.99, or a bonus of $250 if you receive direct deposits of $5,000 or more within 25 days. To qualify for the cash bonus, all you need to do is receive at least one qualifying direct deposit before December 31, 2023. If you're a new customer or existing customer who hasn't set up direct deposits yet, you could also get a cash bonus of up to $250. Even if you don't have qualifying deposits, you'll still earn a great interest rate. You can earn a competitive interest rate that's higher than what many traditional and high-yield savings accounts pay if you set up direct deposit or have qualifying deposits of $5,000 or more per month. There's a savings tool called Money Vaults, which helps you save for individual goals. The account offers a couple of unique perks.
It doesn't charge monthly service fees, overdraft fees, or out-of-network ATM fees.
SoFi Checking and Savings is an excellent choice if you don't want to deal with standard bank fees. Declined purchase if you overdraw by more than $50.Receive your paycheck up to 2 days sooner with early direct deposit Good interest rate even if you don't set up direct deposit or deposit minimum $5,000 per month Up to $250 bonus with qualifying direct deposit for eligible customers (through ) To get no-fee overdraft coverage you must have at least $1,000 in direct depositsĮarn up to 4.50% on savings balances if you set up direct deposit or deposit minimum $5,000 per month.$4.95 fee each time you deposit cash at a Green Dot location.Create up to 20 Money Vaults to save for individual savings goals like an emergency fund or vacation.Earn up to $250 cash bonus available through Decemreceive 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.Earn 1.20% APY on SoFi Checking and Savings if you don't have qualifying activities.Earn 4.50% APY on savings balances (Vaults included) and 0.50% APY on checking balances if you set up direct deposit or deposit minimum $5,000 per month.Earn up to 15% cash back on local retailers when you use a SoFi debit card Retailer information is available through online banking.
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