I got Charles SW for my Checking no ATM fee charge debit card and Capital one and American express for my saving both of them 4.35 not much different from Sofi but I don't have to set up direct deposit
Five to six times a month I have to suffer the embarrassment of standing in line and being told "your card has been rejected, sir" in front of a crowd of people. They temporarily reject transactions all the time, for "security" reasons. You have to respond to a text message and then try the transaction again. Never ever bank with SoFi if you're an adult. If you're a child who needs to be constantly monitored and nannied, then maybe it's for you.
Sorry to break it to you but most banks does this because of behavior patterns and “tightening” security forced by Congress due to the banks negligence…Also, remember your experience won’t be the same for others and I have had both SoFi Money and SoFi Bank accounts for 2 years now never had a problem regardless of the expense
“if your an adult” 😂 are you sure your one? Because most adults would just have this as a backup account and not use as a primary enough to sit here and complain and tell EVERYONE how it sucks.
@@lorenzosanchez7356 The sofi account was actual my third account, and my first time trying a non-brick-and-mortar institution. Obviously the attractive interest rate was an appealing factor which encouraged me to keep significant funds there. I had no problem pulling out my Bank of America debit card or my Schwab One debit card to complete the transaction successfully. I would think that even a fool could see how annoying it is to have transactions declined repeatedly. But then, I do tend to overestimate people.
I’m thinking of going SoFi and deposit my main check into checking and then my other forms of income direct deposit into the savings account. The percentage yield seems amazing!
Great review. I have WF and am looking to get a credit union to build relationships for future home and auto loan. Curious about your thoughts on Alliant credit Union opposed to SOFI
Love your content!! It would be very useful to hear from you the comparison with Sofi vs Schwab vs Betterment as checking accounts, especially for traveling, considering also the first and the third have pretty good yield rates.
Been hearing people now having toygh time with account freezes and shut downs is this true because i need a way to invest and save money without getting scammed
I currently bank with cadence bank , but let’s say I wanted to open a savings account with SoFi. Could I just set up direct deposit with SoFi to pull money from my checking (from cadance) and move that to SoFi ?😊
I have alot of money saved up sitting in my checking account I feel like I should probably put it into a savings account just don’t know if sofi is the right bank just for using as a savings account 🤔 or something different?
@@GreaterThanEnoughHey was just wondering let’s say I want a fresh start move to LA & get a job pays minimum wage what’s the best bank to go with? like if SoFi needs 5k a month minimum to get the highest rate but my check by the end of the month doesn’t match that is that not the bank for me? I’m new to banking in general so was just wondering like what would be best for me
@@marvinsylver4310 Ally would be your best bet, since they offer a 4.20% APY rate on their Savings account with no requirement needed. However, if you get direct deposit, then definitely SoFi for their 4.60% APY rate.
1.20%, if you don't have direct deposit set up or meet the monthly deposit amount, I'd recommend watching this video to find better options: ua-cam.com/video/7taadMm8FPg/v-deo.html
I use my Capital One 360 account for Zelle and the few times per year I want to deposit cash into my account. After I get the money in my Capital One account, I transfer it to SoFi.
Question: how does SoFi know if I direct deposit 100% of my pay in the savings or not? With Paychex I can split the deposit between banks so can I just deposit $1 into SoFi and the rest into chase?
As long as you set up direct deposit, it can be for any amount to earn the higher rate. It's only without direct deposit you need to deposit $5k into your account each month.
Yes, you can use my referral link to earn $25 when you sign up and fund your account and then up to another $300 if you set up direct deposit, here's the link: www.sofi.com/invite/money?gcp=9c64173f-c077-4191-8f06-88070daf8edb&isAliasGcp=false
Have made SOFI my online bank starting 2024. Still keeping my local credit union.
So you will stay with your credit union but also keep your Sofi account? That’s what I’m trying to do as well
Problem is you cant deposit cash
@@nicholaselia7943...problem is I can't seem to hold onto cash.....
@@nicholaselia7943you can deposit cash but it’s a fee though and you have to do it at a dollar general, Walgreens,etc it tells you in the app
@@nicholaselia7943 yes you can, just go to one of their preferred atm partners.
I got Charles SW for my Checking no ATM fee charge debit card and Capital one and American express for my saving both of them 4.35 not much different from Sofi but I don't have to set up direct deposit
Five to six times a month I have to suffer the embarrassment of standing in line and being told "your card has been rejected, sir" in front of a crowd of people. They temporarily reject transactions all the time, for "security" reasons. You have to respond to a text message and then try the transaction again. Never ever bank with SoFi if you're an adult. If you're a child who needs to be constantly monitored and nannied, then maybe it's for you.
Sorry to break it to you but most banks does this because of behavior patterns and “tightening” security forced by Congress due to the banks negligence…Also, remember your experience won’t be the same for others and I have had both SoFi Money and SoFi Bank accounts for 2 years now never had a problem regardless of the expense
“if your an adult” 😂 are you sure your one? Because most adults would just have this as a backup account and not use as a primary enough to sit here and complain and tell EVERYONE how it sucks.
@@lorenzosanchez7356 The sofi account was actual my third account, and my first time trying a non-brick-and-mortar institution. Obviously the attractive interest rate was an appealing factor which encouraged me to keep significant funds there. I had no problem pulling out my Bank of America debit card or my Schwab One debit card to complete the transaction successfully. I would think that even a fool could see how annoying it is to have transactions declined repeatedly. But then, I do tend to overestimate people.
I’m thinking of going SoFi and deposit my main check into checking and then my other forms of income direct deposit into the savings account. The percentage yield seems amazing!
Ive had it for like a year and loving it. Best part is their investment platform integrated right into their app
I started using Sofi a few months ago. It’s pretty great. I invest through them and also moved my home loan to them at a better rate.
Great review. I have WF and am looking to get a credit union to build relationships for future home and auto loan. Curious about your thoughts on Alliant credit Union opposed to SOFI
They need to add zelle
You can just link your Zelle account and you’re all set!
They just released the Zelle integration
Love your content!! It would be very useful to hear from you the comparison with Sofi vs Schwab vs Betterment as checking accounts, especially for traveling, considering also the first and the third have pretty good yield rates.
Been hearing people now having toygh time with account freezes and shut downs is this true because i need a way to invest and save money without getting scammed
sofi
is not a scam lol
Not true at all
Acorns has 3% APY on checking and 5% APY on Savings just saying 🤷🏾♂️
Yes, that can be a good option if you have enough money in your account where you earn more additional interest to cover the $5 monthly fee.
@@GreaterThanEnough yes the fee is wave if you have a 350minimum direct deposit
@@GreaterThanEnough he is right they waive the fees I have oak acorn account
Oh ok great information, thanks.
Which one is the savings account? The one labeled “Later?”
What are your thoughts on One Finance compared to Sofi? I thinking about switching…
How about that 900$ bonus with Chase Checking and Savings ?
Daves the best too well so Far
I currently bank with cadence bank , but let’s say I wanted to open a savings account with SoFi.
Could I just set up direct deposit with SoFi to pull money from my checking (from cadance) and move that to SoFi ?😊
I have alot of money saved up sitting in my checking account I feel like I should probably put it into a savings account just don’t know if sofi is the right bank just for using as a savings account 🤔 or something different?
Here's my video on the best high yield savings accounts: ua-cam.com/video/7taadMm8FPg/v-deo.html
@@GreaterThanEnoughHey was just wondering let’s say I want a fresh start move to LA & get a job pays minimum wage what’s the best bank to go with? like if SoFi needs 5k a month minimum to get the highest rate but my check by the end of the month doesn’t match that is that not the bank for me? I’m new to banking in general so was just wondering like what would be best for me
@@marvinsylver4310 Ally would be your best bet, since they offer a 4.20% APY rate on their Savings account with no requirement needed. However, if you get direct deposit, then definitely SoFi for their 4.60% APY rate.
So to earn that 4.6% you need to sign up for direct deposit and deposit $5000 a month....thats not good.
I believe it’s either or, set up direct deposit every 30days or deposit $5000 into your SoFi account every 30days
That's correct. Any direct deposit amount or if you don't have direct deposit, you'd need to deposit $5k every 30 days to earn 4.60% APY.
Either or, not both.
Is there a credit check?
Does direct deposit include any deposit or does it have to be from an employer?
Wired deposit , doesn’t matter where, it has to look like a direct deposit from somewhere that you get paid from
Ok so I’m depositing 4000 a month from my job will I still qualify for the 4% interest
Yes, if you have direct deposit set up it doesn't matter the amount.
How does it say SoFi is not a bank, and it is? 🥴
What's the minimum amount of money to open a sophi account?
There is no minimum requirement, you can literally open the account and wait months b4 even funding it
....oh rats....fees to make deposits.....I'm out. tHanks for the video!
So if you don’t have direct deposit how much is the rate ??
1.20%, if you don't have direct deposit set up or meet the monthly deposit amount, I'd recommend watching this video to find better options: ua-cam.com/video/7taadMm8FPg/v-deo.html
Sucks theres no Zelle. I woulda been down.
I kept my BoA because of this. But still got Sofi because of the HYsa
I use my Capital One 360 account for Zelle and the few times per year I want to deposit cash into my account. After I get the money in my Capital One account, I transfer it to SoFi.
It has Zelle now!
Question: how does SoFi know if I direct deposit 100% of my pay in the savings or not? With Paychex I can split the deposit between banks so can I just deposit $1 into SoFi and the rest into chase?
It does not matter how much you direct deposit into SoFi, as long as there is at least a dollar it still counts and you get the higher interest rate
What if I make a savings account but don’t have 5000 to put every month ? lol
As long as you set up direct deposit, it can be for any amount to earn the higher rate. It's only without direct deposit you need to deposit $5k into your account each month.
But does sofi has any physical branch in any state ?
No that why the interest rates are so high
You get charged to deposit cash not worth it
No, you don’t.
What if my direct deposit amount is like 5 bucks lol
That’s fine they don’t have a minimum
Is there any sign up bonus
Yes, you can use my referral link to earn $25 when you sign up and fund your account and then up to another $300 if you set up direct deposit, here's the link: www.sofi.com/invite/money?gcp=9c64173f-c077-4191-8f06-88070daf8edb&isAliasGcp=false
I'm not liking this back so far
Don’t do it they’re easily hacked