In order to receive the $250 bonus, you have to have at least $5,000 direct deposit set up. Just in case anyone was wondering. If you have less than that, you'll receive a whopping $50 instead.
I have 2 jobs both direct deposit, so In 25 days between both jobs it will total more than $5,000 does that count, then after that it doesn’t have to total $5,000 anymore?
It’s weird but I think the SoFi Mastercard World Debit card is one of the best parts of SoFi. Definitely one of the best looking fintech designs. Also notable that unlike a run of the mill Visa, the Mastercard World Debit comes with 90 day $1000 purchase assurance for damaged or stolen items, and double the manufacturers warranty for every purchase. Of course it comes with zero liability fraud protection and free ID theft monitoring. And SoFi is a real bank, not a technology company, can’t beat that.
It’s nice to have a debit card that has a little bit of style! Using the silver Mastercard logo like the World Elite MC credit cards make it a little more special 😊
I'm loving Sofi for the most part. Two things would make me love it more. Eliminate the cash deposit fee and offer up an unsecured credit card similar to Chime Credit Builder.
Switched to Sofi little over a month ago now and i am lovin the platform!, Vaults make it so easy to rebuild my savings and having everything in all in one app is absolutely amazing 🙌🏽
Sooo I used your link to sign up for sofi. I forgot how much I hated linking accounts but going from .35% to 4.20% saving is going to be great with my balances to just park money until some of the volatility leaves the market
Frankly, I don't think there's any sign of a change in expectations for SoFi. Really, unfortunately, I take the whole waste of time holding the bag and wasting my money very personally and very closely connected with people in the banking sector in general. Just think: Do you see a reason why SoFi expects such excellent results in the third and fourth quarters, but the same result in the second quarter? It's irrational to expect three times as good results in the third and fourth quarters and then let the stock fall. It's also irrational that so few people are buying the stock given the expectations and the current price. Something is completely controversial, the stock jumps significantly within a few hours due to good news, the expectations are quite good, but the stock moves for over 60 days already to nowhere. And honestly, I've stopped believing that expectations have changed much due to expected rate cuts this year because 1) SoFi is one of the few stocks that is somehow moving slightly in the negative direction due to still positive expectations, and is so 200% dependent obviously on the expected cuts or no cuts and 2) everyone knew the probabilities and frequency for rate cuts as early as January 2024, but the stock price was significantly higher in average. As i said, i take the waste of time very personal and disapprove it.
Would you still take Sofi over Charles Schwab’s Investor Checking? Im trying to figure out which one. I use both, but I also don’t have thousands of dollars so the high yield really doesn’t matter to me.
It is not easy to deposit $5,000 within 25 days to get a high yield APR unless you make a $10,000 a month and paying your bills first then set up $5000 for direct deposit etc.
I don’t usually do direct deposit into a savings account, I prefer using my checking and transfer to savings. Do I get the high yield savings APY if I do direct deposit into a checking with them or does it have to be a savings account?
All you have to do is setup a direct deposit regardless of account. Once received in checking or savings it will unlock their highest APY of 4.50 after one cleared direct deposit.
@a9five damn that's still good I have had bank of america as early as I could work as a kid and it is only 0.01% APY hahaha so that's 120x better! And with 4.3% with direct deposit that's faster gains than inflation could take and that would make it very worth if
Damn. Am like 470 . And wanted to get builders, and bonus, so got Sofi, chime builder, experin boost, kioff... then realized to get bonus from them. I need direct deposits.. but would do alot of main job, doordash, Walmart. Lol
Question? I see on the app the interest rate. How does that work? For example, let's say I have $1,000 in my savings account does the interest occur monthly or yearly?
Me and girlfriend just want an app that we could deposit money in and used as a savings. ( I wish we could both make a joint cashapp amd just deposit it as savings...
Question? When I deposit cash into the account there's a fee from GreenDot $4.99 which is understandable. Every 2 weeks I deposit a good significant amount into the checkings and then I transferred over to savings. So every month I'm spending approximately $10 to make those deposits when I do my taxes can I write that off or can I get some of it back?
Worst bank in I’ve ever had in my life I got an account never record a card..called and canceled still hAvnt got it at this point there holing my money hostage in getting an attorney
Ok maybe I’m just dumb but at the current 4.5% interest in $1000 is $47 dollars are you telling me I could get that monthly or yearly? I’m can never figure it out
I believe it has to be recurring but you can learn more HERE: support.sofi.com/hc/en-us/articles/10546180767373-What-is-a-direct-deposit-and-what-is-considered-a-qualifying-direct-deposit-
In order to receive the $250 bonus, you have to have at least $5,000 direct deposit set up. Just in case anyone was wondering. If you have less than that, you'll receive a whopping $50 instead.
On top of that the deposits have to happen within 25 days.
I have 2 jobs both direct deposit, so In 25 days between both jobs it will total more than $5,000 does that count, then after that it doesn’t have to total $5,000 anymore?
can i just xfer money from one of my banks to my new Sofi savings or does it have to be a direct deposit from like a paycheck?
@@marrlo121 Yes, you have the option to do so, but it will not make you eligible for the bonus or the higher rates.
@@Daniel-tj4fzso that’s a No?
Been using SoFi for about a year and it’s been so good. I don’t think I’d ever need to switch from them being my main bank
Super glad to hear that! Thanks for the comment!
Only bad part is when I transfer money from my bank account I gotta wait like 5 days
@@giussephspiegeler5426really? I only wait a day 😮 maybe I’m lucky.
@giussephspiegeler5426 it's 3 days for me but that's why im setting up direct deposit so I don't even need to worry about that
@@giussephspiegeler5426 Man. I wonder why. Takes about a day. Shoot. If I do it early enough, by that evening.
I love SoFi, I just need for them to have Zelle directly on the app.
It’s weird but I think the SoFi Mastercard World Debit card is one of the best parts of SoFi. Definitely one of the best looking fintech designs. Also notable that unlike a run of the mill Visa, the Mastercard World Debit comes with 90 day $1000 purchase assurance for damaged or stolen items, and double the manufacturers warranty for every purchase. Of course it comes with zero liability fraud protection and free ID theft monitoring. And SoFi is a real bank, not a technology company, can’t beat that.
It’s nice to have a debit card that has a little bit of style! Using the silver Mastercard logo like the World Elite MC credit cards make it a little more special 😊
Not Weird...I Quite Agree About The Debit Card...
I'm loving Sofi for the most part. Two things would make me love it more. Eliminate the cash deposit fee and offer up an unsecured credit card similar to Chime Credit Builder.
Switched to Sofi little over a month ago now and i am lovin the platform!, Vaults make it so easy to rebuild my savings and having everything in all in one app is absolutely amazing 🙌🏽
Sooo I used your link to sign up for sofi. I forgot how much I hated linking accounts but going from .35% to 4.20% saving is going to be great with my balances to just park money until some of the volatility leaves the market
Agreed!
Sofi is the best bank I've experienced so far.
I Still Currently Have An Account With SoFi...Some Improvements Still Needed...But Still Absolutely Splendid Thus Far...
Where can I find info about the SoFi joint accounts. Would be nice to make a video about it. Great content
I'd love to see a video dedicated to Sofi's joint account option.
I got 870
Please review ally next with their new spending buckets 🙏🏽
You should go into marketing my guy cause you just sold me on the card
Much appreciate it for the information!
Have been a long time I don;t see a video from you and the quality have improve a lot!. The transitions with the camara the props. Great work.
Really appreciate that. Thanks so much!
Frankly, I don't think there's any sign of a change in expectations for SoFi. Really, unfortunately, I take the whole waste of time holding the bag and wasting my money very personally and very closely connected with people in the banking sector in general. Just think: Do you see a reason why SoFi expects such excellent results in the third and fourth quarters, but the same result in the second quarter? It's irrational to expect three times as good results in the third and fourth quarters and then let the stock fall. It's also irrational that so few people are buying the stock given the expectations and the current price. Something is completely controversial, the stock jumps significantly within a few hours due to good news, the expectations are quite good, but the stock moves for over 60 days already to nowhere. And honestly, I've stopped believing that expectations have changed much due to expected rate cuts this year because 1) SoFi is one of the few stocks that is somehow moving slightly in the negative direction due to still positive expectations, and is so 200% dependent obviously on the expected cuts or no cuts and 2) everyone knew the probabilities and frequency for rate cuts as early as January 2024, but the stock price was significantly higher in average.
As i said, i take the waste of time very personal and disapprove it.
What do you do if you’re new? Do you just make an account then send money from your regular bank to sofi?
yes
Does the $5000 direct deposit requirement for the $250 bonus have to be to the checking account only or can it be to the HYSA also?
It works for both
To get the 4.6% apy do I just need the $5000 direct deposit one time and I will have 4.6% for the entirety of account being open?
Would you still take Sofi over Charles Schwab’s Investor Checking? Im trying to figure out which one. I use both, but I also don’t have thousands of dollars so the high yield really doesn’t matter to me.
So can i use chase as checking and sofi for savings only?
Sofi requires direct deposit. I dont have direct depositI do use it for certain subscriptions yet it is not my main bank never will be
4.20% is nothing just buy treasury bills
It is not easy to deposit $5,000 within 25 days to get a high yield APR unless you make a $10,000 a month and paying your bills first then set up $5000 for direct deposit etc.
Interesting you didn't touch on their customer service, which I heard is horrible, sadly.
I don’t usually do direct deposit into a savings account, I prefer using my checking and transfer to savings. Do I get the high yield savings APY if I do direct deposit into a checking with them or does it have to be a savings account?
All you have to do is setup a direct deposit regardless of account. Once received in checking or savings it will unlock their highest APY of 4.50 after one cleared direct deposit.
@@thebasics705 Awesome, thank you.
What is the APY without setting up direct deposit?
1.20% I think
@a9five damn that's still good I have had bank of america as early as I could work as a kid and it is only 0.01% APY hahaha so that's 120x better! And with 4.3% with direct deposit that's faster gains than inflation could take and that would make it very worth if
Do I need to have a direct deposit each month to keep qualifying for the high APY?
I’m curious also probably thought does anyone know ?
No.
dude those weird effects you're doing when you're changing scenes is terrible. so distracting and annoying
Do you have to deposit 5k every month or can you do it only in first 25 days and take advantage of high apy?
Yes just once
Great tips & great video 👍
Damn. Am like 470 . And wanted to get builders, and bonus, so got Sofi, chime builder, experin boost, kioff... then realized to get bonus from them. I need direct deposits.. but would do alot of main job, doordash, Walmart. Lol
does each vault have its own apy ?
Question? I see on the app the interest rate. How does that work? For example, let's say I have $1,000 in my savings account does the interest occur monthly or yearly?
Yearly
@@thomasthompson4303 ty 🙏
Me and girlfriend just want an app that we could deposit money in and used as a savings. ( I wish we could both make a joint cashapp amd just deposit it as savings...
Question? When I deposit cash into the account there's a fee from GreenDot $4.99 which is understandable. Every 2 weeks I deposit a good significant amount into the checkings and then I transferred over to savings. So every month I'm spending approximately $10 to make those deposits when I do my taxes can I write that off or can I get some of it back?
I'm no financial guy but I don't think so. It's a service you're receiving.
@@angelgregio yeah I figured that out. Ty for answering my question. 🙏
Worst bank in I’ve ever had in my life I got an account never record a card..called and canceled still hAvnt got it at this point there holing my money hostage in getting an attorney
I’ve never had a problem with SoFi but I have been hearing that a lot of people have had their SoFi account frozen randomly , anyone else ears that?
Do you have to deposit your whole paycheck into the account? Or can it be a percentage?
You have the option of percent or amount when you set up direct deposit
direct deposit to the checking account offers the high pay as well?
Sofi💪🚀🚀 dont bank with them but i do hold 750shares
I’m so sorry. 😂
Can I open a new business account with sofi?
Always enjoy your reviews.
Thanks so much, glad you enjoyed it!
I love sofi. Its so good compared to other banks
Why didn't you got bilt mastercard yet? And when will you apply to capital one venture x?
Can you please do a compare video of Samsung Money by sofi vs sofi alone?
If I am self employed and dont get a direct deposit, can I still take advantage of 4.2 interest?
As long as you deposit $5k per month
Ok maybe I’m just dumb but at the current 4.5% interest in $1000 is $47 dollars are you telling me I could get that monthly or yearly? I’m can never figure it out
Your middle school math teacher would be very disappointed 😢😢😢
Annually means yearly.
I work in a cash business w tips so I don't know if sofi would work out for me...???
Most likely not. You’d only get 2% APY. I’d go with ally or Marcus
I’ve had SoFi for about a month now and absolutely love it
So happy to hear that!
Aka I’m sponsored lol
Can you do an update on Yotta I feel like it went from 😮 to 😢
May i open if only have itin?
Why is their app so slow?
Will there be fees to covert foreign currencies?
I love Sofi
Can you do a update on Axos bank
Still no Zelle I don’t know why.
Js link it bro
@@juicymuscprod9624 i did.
@@Henrigz1982 Weird, it works for me
Do a pro and cons to Sofi Joint Account
Lol not an add
Brilliant!
Thanks so much!
SoFi: Let's do a small change to our checking and savings offering
Magnified Money: 👀 time to do a review!
Hahaha (A summary of my brain)^^^
I see it now is 0.50% APY on checking with a direct deposit linked :/
What is the best way to withdraw and deposit cash to Sofi? It seems difficult compared to a bank like Chase?
Thanks for sharing your insights on Sofi
Does a “qualifying direct” deposit have to be recurring? Can I still get the bonus if I just transfer the amount over?
No, I tried and it didn’t work.
I believe it has to be recurring but you can learn more HERE: support.sofi.com/hc/en-us/articles/10546180767373-What-is-a-direct-deposit-and-what-is-considered-a-qualifying-direct-deposit-
so i can send $5k from my Chase bank account to me their “qualifying direct” deposit requirement
Helpful video, thank you