What Exactly Is SoFi?
SoFi has long been known as one of the lowest interest rate lenders for student loan refinances, but the so-called not-a-bank recently rolled out an even more exciting financial product. SoFi Money(TM) is a high-interest (0.25% APY) cash management account with no monthly fee, no ATM fees, and no overdraft fees.
The company is insured by the FDIC, and your money is protected for up to 1.5 million dollars. How secure is SoFi Money? Beyond being FDIC insured, SoFi Money has security features like chip card technology, two-factor authentication and suspicious activity monitoring to protect your money.
Top 98 SoFi Money Reviews - ConsumerAffairs.com
What is SoFi used for?
Based in San Francisco, SoFi provides financial products that includes student loan refinancing, mortgages, personal loans, credit card, investing, and banking through both mobile app and desktop interfaces.
SoFi - Wikipedia
What is special about SoFi?
It's like buying into a whole financial index instead of one specific company. SoFi Money is SoFi's Cash Management Account (CMA) that, with no account fees, offers you a generous Annual Percentage Yield on your cash. Oh, and they will reimburse your ATM fees. SoFi Relay is your big picture.
What's So Special About SoFi? | Iron Edge VC
What is the downside to using SoFi money?
Downsides. Fees for cash deposits. Cash deposits are accepted only at Green Dot locations. There is a fee of up to $4.95 for each cash deposit.
SoFi Money Review: Online Cash Management Account