Business Insider's personal finance team compared SoFi® Checking and Savings (Member FDIC) to the best checking accounts and savings accounts, and found it to be an industry leader.
SoFi® is a great account option if you don't mind keeping your savings and checking in one account.
You can earn a competitive interest rate if you set up direct deposit or deposit a minimum of $5,000 per month. You can also earn a cash bonus of up to $300 if you are a new customer and set up direct deposits, or as an existing customer that hasn't set up direct deposits yet.
no monthly service fee
up to 3.80%
$0
up to $300
- FDIC insured up to $3 million
- High interest rate
- Earn a higher interest rate with qualifying activities
- No minimum opening deposit
- No monthly service fees
- Up to $300 bonus with qualifying direct deposit (terms apply)
- Savings tools
- Early direct deposit
- Joint account available
- 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
SoFi Checking and Savings is a great account option if you don't mind keeping your savings and checking in one account.
- Sign-up bonus of up to $300. When you sign up and set up direct deposit. Wait for direct deposit to hit account (typically 2-4 weeks). Collect cash bonus of $50 to $300 depending on direct deposit amount
- Up to 3.80% APY with direct deposit or $5,000 or more in qualifying deposits during the 30-day evaluation period
- FDIC Insured and covered up to $3 million in FDIC coverage through a network of participating banks
- 55,000+ fee-free ATMs
Compare SoFi® Checking and Savings Rates
SoFi® Checking and Savings (Member FDIC): up to 3.80% Annual Percentage Yield (APY)
Current SoFi® Checking and Savings Rates
SoFi® offers different interest rates for checking and savings balances.
You can get high-yield savings with SoFi, earning up to 3.80% APY if you set up a direct deposit of any amount or deposit at least $5,000 every 30 days. If you don't set up a direct deposit or receive a monthly qualifying deposit, you'll only earn up to 1.00% APY on savings balances.
SoFi checking balances pay 0.50% APY. The APY is the same for all customers.
Overview of SoFi® Checking and Savings Accounts
How SoFi Checking and Savings Accounts Work
SoFi® is an online institution that offers loans, investment accounts, and banking options. SoFi doesn't have physical locations so you'll have to open and manage your bank account online.
When you apply for a SoFi banking account online, you cannot apply for either the checking or savings account on their own — you'll have to get both, hence it's name SoFi® Checking and Savings (Member FDIC).
SoFi Early Direct Deposits
You can get your paycheck up to two days early through the online bank. To get this perk, you must receive a qualifying direct deposit. SoFi® defines a qualifying direct deposit as a paycheck from an employer (including pension plans), payroll provider, benefits provider, or government entity (this includes Social Security payments).
SoFi Cash Bonus
If you're a new customer or existing customer who hasn't set up direct deposits yet, you could also get a bank account bonus of up to $300.
To qualify for the cash bonus, all you need to do is receive at least one qualifying direct deposit, the first of which must be received on or after December 7, 2023. You'll earn a $50 cash bonus if you receive direct deposits between $1,000 and $4,999.99, or a bonus of $300 if you receive direct deposits of $5,000 or more within 25 days. The bonus will be deposited into the account around seven business days after the 25-day period.
SoFi Money Vaults
SoFi®'s Money Vaults feature makes it a savings account with buckets. Money Vaults are a savings tool to help you contribute money toward a savings goal. Money Vaults are part of SoFi® Checking and Savings (Member FDIC); they're not separate accounts. You can make up to 20 at once.
Money Vaults earn the same APY as savings account balances. Hence, your rate will be up to 3.80% APY when you receive a monthly direct deposit of $5,000 or more every 30 days. If you don't set up direct deposits or receive a qualifying amount every 30 days, you'll earn up to 1.00% APY.
SoFi Overdraft Protection
SoFi® has no-fee overdraft protection that covers negative balances up to $50. To be eligible for SoFi Overdraft Coverage, you must get at least $1,000 in direct deposits. You'll get a notification once you qualify for overdraft protection.
Keep in mind SoFi overdraft protection only applies to negative balances resulting from debit card purchases. You won't be able to use overdraft protection for ATM withdrawals, ACH transfers, or transactions using online bill pay.
If you are worried about overdrawing from your account, you may prefer one of the best banks for overdrafts. Other online banks have multiple overdraft protection plans or cover higher overdraft balances.
SoFi Automatic Savings and Roundups
The account comes with some tools designed to help you save money. For example, you can set up its AutoSave feature to automatically take a percentage or a specific dollar amount out of your paychecks and put it into your savings account or a specific Vault. This can help you plan how to budget and then automate that budgeting process.
SoFi also offers a Roundups feature to help you make progress on your savings goals. If you opt-in to Roundups, every purchase you make with the SoFi debit card will be rounded up to the nearest dollar amount and transferred to your savings account or preferred Vault. These small savings can add up over time, saving you money in the long run.
You can turn on Roundups in SoFi's mobile banking app by selecting the Vault you want to send the money to, choosing "Add New," then selecting "Roundups" and using the toggle to turn the feature on. You can also turn it on the same way from the Autopilot menu on your SoFi app's homepage.
SoFi User Experience and Accessibility
SoFi®'s online and mobile banking lets you see the banking, investing, and loan products in one place. You also have access to common online banking features, such as online bill pay and 24/7 bank account monitoring.
On the mobile app, you can make mobile check deposits and set balance and transaction alerts. The SoFi mobile app has relatively good ratings overall. It's received 4.9 out of 5 stars in the Apple store based on over 363,600 ratings. Meanwhile, it's gotten 4.0 out of 5 stars in the Google Play store based on over 39,300 ratings.
SoFi has a help center that addresses many questions, including how to get started with the account, where to learn about different account features, and how to set up transfers and link external bank accounts.
For SoFi customer support, call or use live chat anytime from 5 a.m. to 7 p.m. PT Monday through Thursday or 5 a.m. to 5 p.m. PT Friday through Sunday.
SoFi Savings Security
The SoFi® Checking and Savings (Member FDIC) account is offered through SoFi Bank, National Association (N.A.). In 2022, the Office of the Comptroller of Current conditionally approved SoFi's application to establish SoFi Bank, N.A. as a full-service bank. As part of the conditional authorization, SoFi Bank N.A. acquired Golden Pacific Bank, N.A., an FDIC-insured bank with three branches in Northern California.
SoFi® members will be able to protect up to $3 million in deposits through the SoFi Insured Deposit Program. Money beyond the traditional FDIC insurance limit will be put into FDIC-insured accounts at partner banks.
The Better Business Bureau rates companies to see if they handle business practices well, have honest advertising, and respond effectively to customer complaints. The BBB gives SoFi an A+ rating.
SoFi® Key Benefits and Features
SoFi Member Rewards
Opening an account with SoFi® automatically makes you a SoFi member. SoFi members get access to several different perks, one of which is SoFi Member Rewards. With SoFi Rewards, you earn reward points that you can convert to cash or credits that go toward one of your SoFi accounts, or that you can use to book travel. How you earn those points is different, though.
Once you've enrolled in SoFi Member Rewards in your SoFi app, you can earn SoFi Rewards points in a number of ways, including by linking your first external account to the SoFi Relay tool, signing up for credit score monitoring, activating your SoFi debit card, or by setting up BillPay. To see all of the ways you can earn reward points, check the "Ways to earn" section on your SoFi app.
SoFi Financial and Estate Planning
SoFi® members get access to online financial consultation with SoFi's financial planners. You can set up an appointment on the SoFi app to talk about your financial situation and how you could improve your financial situation. You can also set up follow-up meetings to go over how your financial situation has changed.
Members can also get a 20% discount on estate planning with Trust & Will. This discount only applies to your first purchase of a Will or Trust-based estate plan.
SoFi Checking and Savings Fees and Charges
One of the main benefits of SoFi® Checking and Savings (Member FDIC) is that it has minimal bank fees.
You won't worry about monthly bank maintenance fees or overdraft fees. If you've set up direct deposits of at least $1,000, you'll be eligible for SoFi overdraft protection, covering negative balances up to $50.
SoFi doesn't charge you for point-of-sale transactions or Allpoint ATM transactions. However, if the out-of-network provider charges you a fee, SoFi doesn't offer reimbursements. In comparison, the best banks for avoiding ATM fees offer domestic or international ATM fee reimbursements for out-of-network providers.
SoFi® Checking and Savings Pros and Cons
SoFi Checking and Savings Pros
- Can qualify for SoFi Plus by opening SoFi® Checking and Savings (Member FDIC) with eligible direct deposits
- Earn up to 3.80% APY on savings balances if you set up direct deposit or deposit minimum $5,000 per month
- Up to $300 bonus with qualifying direct deposit for eligible customers (through 01/31/26)
- Decent interest rate even if you don't set up direct deposit or deposit minimum $5,000 per month
- $0 minimum opening deposit
- Minimal bank fees
- Savings tools
- Receive your paycheck up to 2 days sooner with early direct deposit
SoFi Checking and Savings Cons
- Online-only account
- Declined purchase if you overdraw by more than $50
- Fee for depositing cash
SoFi® Checking and Savings Alternatives
We compared SoFi's account to two popular online banks with separate checking and savings accounts: Chime® and Ally.
SoFi Checking and Savings vs. Ally Checking and Savings Accounts
SoFi® has a hybrid savings/checking account, so it could be more appealing than Ally if you are looking for an all-in-one account. Ally may be more suitable than SoFi if you want a variety of bank account options — it offers CDs and a money market account, which SoFi doesn't have.
SoFi® offers a higher interest rate on savings balances than Ally if you set up direct deposit or deposit minimum $5,000 per month. Ally may be a better option if you don't want to set up a direct deposit, though. The Ally Savings Account pays a flat interest rate of 3.70% Annual Percentage Yield (APY), while SoFi members only earn up to 1.00% APY on savings balances when they don't have qualifying activities.
Ally is also a better choice if you don't want to deal with out-of-network bank ATM fees. The bank doesn't charge a fee for using an out-of-network ATM, and you'll get up to $10 per month in reimbursements if an ATM charges you a fee. Meanwhile, SoFi won't reimburse out-of-network ATM charges.
SoFi Checking and Savings vs. Chime Checking and Savings Accounts
Chime offers a checking and savings account. Both SoFi® and Chime charge zero monthly service fees and require no minimum opening deposit, which is great if you're looking for accounts with lenient opening requirements.
SoFi® currently pays a higher interest rate on savings balances than Chime if you have qualifying activities; Chime offers an interest rate of 2.00% APY. If you do not want to set up a direct deposit or add qualifying deposits, then Chime may be more appealing. However, you would need to open Chime® Checking Account before opening the Chime Savings Account.
Opening a SoFi® Checking and Savings Account
You must open the SoFi® Checking and Savings (Member FDIC) account online; SoFi is an online-only bank. You must be at least 18 years old and use a Social Security number to open the account. The online application also requires you to fill in basic information about yourself, like your full name, address, citizenship status, and email. If you are a U.S. resident or non-permanent resident, you'll include your country of citizenship.
To add money to the account, you may set up direct deposits, deposit checks, link an external bank account, or make cash deposits through a participating retailer. SoFi doesn't have physical branches if you want to withdraw money, but you can take out money at an Allpoint ATM.
Is SoFi® Checking and Savings Right for You?
SoFi® is an excellent choice if you don't want to deal with common bank fees. It's a no-account-fee checking and savings account option.
The account offers a couple of unique perks. There's a savings tool called Money Vaults, which helps you save for individual goals. 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. Even if you don't have qualifying deposits, you'll still earn a great interest rate.
You also might like this account if you're looking to get a cash bonus — new customers or existing customers who haven't set up direct deposits yet are eligible for a cash bonus of up to $300.
Why You Should Trust Us: How We Reviewed SoFi® Checking and Savings
At Business Insider, we rate bank accounts on a scale from one to five stars.
For our SoFi® Checking and Savings (Member FDIC) review, we combined our bank account methodologies for savings and checking accounts by looking at the minimum opening deposit, interest rate, monthly service fee, overdraft protection option, ATM network/fees, customer support availability, mobile app ratings, miscellaneous features, and ethics and security of the company.
We use a weighted average to get our star rating. See which accounts made our top checking account guide.
SoFi® Checking and Savings FAQs
How does the SoFi Checking and Savings account's APY compare to traditional banks?
SoFi®'s APY for checking and savings are higher than average bank interest rates for savings and interest-earning checking accounts.
Are there any fees for using ATMs with a SoFi account?
There aren't fees if you use an Allpoint ATM. If you use an out-of-network ATM and are charged by the provider, SoFi® will not provide fee reimbursements.
Can I open both a checking and a savings account separately with SoFi?
SoFi® has a hybrid savings/checking account, but it doesn't have separate savings or checking accounts. With SoFi® Checking and Savings (Member FDIC), you still have many of the same features offered by online checking and savings accounts. For example, you can earn high interest rate on money deposited in savings balances and save for individual goals through Money Vaults. Similar to a checking account, you'll be able to use a debit card and manage expenses on checking balances.
What kind of perks can I expect as a SoFi member?
SoFi® members can get several account features, including referral cash bonuses, discounts on loans and estate planning, and access to SoFi Travel. If you have SoFi® Checking and Savings (Member FDIC), you'll also get access to solid banking perks like early direct deposit, no-fee overdraft protection, and savings tools.
How user-friendly is the SoFi mobile app for managing my account?
SoFi® has a relatively user-friendly mobile app. It's received 4.8 out of 5 stars in the Apple store, and 4.0 out of 5 stars in the Google Play store.
Is SoFi a real bank?
In January 2022, the Office of the Comptroller of Current conditionally authorized SoFi's application to establish SoFi Bank, N.A. as a full-service bank. Its investment and loan products aren't FDIC-insured. FDIC insurance only applies to banking options.
Is SoFi FDIC-insured?
Yes, SoFi® is FDIC-insured. SoFi itself is a member FDIC, and it offers extended FDIC insurance up to $3 million through several partner banks.
What banks are SoFi backed by?
Through the SoFi® Insured Deposit Program, SoFi® Checking and Savings (Member FDIC) members will be able to protect up to $3 million in deposits. SoFi has partnered with Bell Bank, BOKF, National Association, Bravera Bank, Citibank, Citizens Bank, City National Bank, Comerica Bank, HSBC Bank, Metropolitan Commercial Bank, Morgan Stanley Bank, Peapack-Gladstone Bank, Renasant Bank, Sallie Mae Bank, The Huntington National Bank, and Western Alliance Bank.
Bonus Disclosure: New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/26. See full bonus and annual percentage yield (APY) terms at sofi.com/banking#1.
APY disclosures: SoFi members who enroll in SoFi Plus with Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Only SoFi Plus members are eligible for other SoFi Plus benefits. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. See the SoFi Plus Terms and Conditions at https://www.sofi.com/terms-of-use/#plus.
Fee Policy: SoFi does not charge any account, service or maintenance fees for SoFi Checking and Savings. SoFi does charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. SoFi's fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at sofi.com/legal/banking-fees/.
Additional FDIC Insurance: SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC's regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at SoFi.com/banking/fdic/sidpterms. See list of participating banks at SoFi.com/banking/fdic/participatingbanks.
ATM Access: We've partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. 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. SoFi's ATM policies are subject to change at our discretion at any time.
Early Access to Direct Deposit Funds: Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.
Overdraft Coverage: Overdraft Coverage is limited to $50 on debit card purchases only and is an account benefit available to customers with direct deposits of $1,000 or more during the current 30-day Evaluation Period as determined by SoFi Bank, N.A. The 30-Day Evaluation Period refers to the "Start Date" and "End Date" set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the"30-Day Evaluation Period"). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY. Members with a prior history of non-repayment of negative balances are ineligible for Overdraft Coverage.
Chime® Disclosures:
Chime is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC.
Out-of-network ATM withdrawal fees may apply except at MoneyPass ATMs in a 7-Eleven, or any Allpoint or Visa Plus Alliance ATM.
Early Pay: Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. We generally make these funds available on the day the payment file is received, which may be up to 2 days earlier than the scheduled payment date.
The Annual Percentage Yield ("APY") for the Chime Savings Account is variable and may change at any time. The disclosed APY is effective as of September 20, 2023. No minimum balance required. Must have $0.01 in savings to earn interest.
Round Up: Round Ups automatically round up debit card purchases to the nearest dollar and transfer the round up from your Chime Checking Account to your savings account.
SpotMe® on Debit is an optional, no fee overdraft service attached to your Chime Checking Account. To qualify for the SpotMe on Debit service, you must receive $200 or more in qualifying direct deposits to your Chime Checking Account each month and have activated your physical Chime Visa® Debit Card or secured Chime Credit Builder Visa® Credit Card. Qualifying members will be allowed to overdraw their Chime Checking Account for up to $20 on debit card purchases and cash withdrawals initially but may later be eligible for a higher limit of up to $200 or more based on Chime Account history, direct deposit frequency and amount, spending activity and other risk-based factors. The SpotMe on Debit limit will be displayed within the Chime mobile app and is subject to change at any time, at Chime's sole discretion. Although Chime does not charge any overdraft fees for SpotMe on Debit, there may be out-of-network or third-party fees associated with ATM transactions. SpotMe on Debit will not cover any non-debit card transactions, including ACH transfers, Pay Anyone transfers, or Chime Checkbook transactions. SpotMe on Debit Terms and Conditions.
Money added to Credit Builder will be held in a secured account as collateral for your Credit Builder Visa card, which means you can spend up to this amount on your card. This is money you can use to pay off your charges at the end of every month.
The secured Chime Credit Builder Visa® Credit Card is issued by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC, pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa credit cards are accepted. Please see the back of your card for its issuing bank.
On-time payment history may have a positive impact on your credit score. Late payment may negatively impact your credit score. Chime will report your activities to Transunion®, Experian®, and Equifax®. Impact on your credit may vary, as Credit scores are independently determined by credit bureaus based on a number of factors including the financial decisions you make with other financial services organizations.
Qualifying Direct Deposit: The qualifying direct deposit must be from your employer, payroll provider, gig economy payer, or benefits payer by Automated Clearing House (ACH) deposit OR Original Credit Transaction (OCT). Bank ACH transfers, Pay Anyone transfers, verification or trial deposits from financial institutions, peer to peer transfers from services such as PayPal, Cash App, or Venmo, mobile check deposits, cash loads or deposits, one-time direct deposits, such as tax refunds and other similar transactions, and any deposit to which Chime deems to not be a qualifying direct deposit are not qualifying direct deposits.
Save When You Get Paid: Save When I Get Paid automatically transfers 10% of your direct deposits of $500 or more from your Checking Account into your savings account.
Once the retailer accepts your cash, the funds will be transferred to your selected Chime Account. Barcode and debit card cash deposits land in the Checking Account. Credit Builder card cash deposits first go through your Card Account and then land in your Secured Account. Cash deposit fees may apply if using a retailer other than Walgreens and Duane Reade.
Tax e-file services provided by April Tax Solutions Inc. ("april") or Column Tax, Inc. ("Column Tax"). These tax filing offers are not endorsed or offered by our partners, The Bancorp Bank, N.A. or Stride Bank, N.A.
Maximum refund guarantee is provided by april or Column Tax. If you use april's service to prepare and file your return and you find an error in the tax preparation that entitles you to a larger refund (or smaller liability), you may use their service to amend that return at no additional charge. To qualify, the larger refund or smaller tax liability must not be due to differences or inaccuracies in data supplied by you, your choice not to claim a deduction or credit, positions taken on your return that are contrary to law, or changes in federal or state tax laws. See here for details. If you use Column Tax's service, Column Tax will reimburse you for up to $250 if you are able to pay less federal or state income tax or receive a larger federal or state income tax return by using another tax return preparation provider. Eligibility requirements apply. See terms for details.
If the april tax preparation software makes a mathematical error that results in your payment of a penalty and/or interest to the IRS that you would otherwise not have been required to pay, april will reimburse you up to a maximum of $10,000. See april terms for details. If interest and/or a penalty is imposed by the IRS as a result of a computational error by Column Tax, you may be entitled to up to $10,000 reimbursement by Column Tax. See Column Tax terms for details.
There are no fees required to use this product. Chime does not require you to deposit your refund into your Chime Account to qualify for free tax filing. Certain costs may be incurred if you decide to obtain other optional financial products offered in relation to your tax filing. The Internal Revenue Service (IRS) may impose penalties or other charges depending on your personal tax situation. If the april tax preparation software makes a mathematical error that results in your payment of a penalty and/or interest to the IRS that you would otherwise not have been required to pay, april will reimburse you up to a maximum of $10,000. See april terms for details. If interest and/or a penalty is imposed by the IRS as a result of a computational error by Column Tax, you may be entitled to up to $10,000 reimbursement by Column Tax. See Column Tax terms for details.
Chime does not guarantee timing of refund. Six day refund estimate is based on 2023 tax year filing data. Refund timing estimates are dependent upon timing of complete tax return submission and when the IRS submits your refund.
*Annual Percentage Yield (APY). Dividends earned for first 12 months from membership open date and assume no withdrawal activity during that period. Earnings example based on a $15,000 daily average balance. Assumes Level 2 qualifications are met with earning 8.00% APY for first 3 months after account opening and 4.00% APY for remaining 9 months after account opening.
**New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/26. See full bonus and annual percentage yield (APY) terms at sofi.com/banking#1. SoFi members who enroll in SoFi Plus with Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Only SoFi Plus members are eligible for other SoFi Plus benefits. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. See the SoFi Plus Terms and Conditions at https://www.sofi.com/terms-of-use/#plus.
***Cash back earned on up to $3,000 a month in purchases. Outgoing wire transfers are subject to a service charge. You may be charged a fee by a non-Discover ATM if it is not part of the 60,000+ ATMs in the no-fee network.
****Earn $400 for opening a new Truist One Checking account online using code AFL2425TR1400 and receive at least one qualifying direct deposit of $500 or more and complete at least 15 qualifying debit card purchases within 90 days of account opening (offer expires April 30, 2025).