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SoFi Money earn 2.25% APY and $0 fees

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Although not the highest return for a checking account, the perks are pretty nice.
$0 fee on any atm (reimbursed)
$0 overdraft
$0 foreign transaction
$0 monthly fee and annual fee (no minimum balance or debit transaction or direct deposit required)
FDIC insured

The SoFi Money Annual Percentage Yield as of 2/12/2019 is 2.25% APY (2.23% interest rate). Interest rates are variable subject to change at our discretion, at any time. No minimum balance required.
2SoFi doesn't charge any ATM fees and will reimburse ATM fees charged by other institutions when a SoFi Money® Visa® Debit Card is used at any ATM displaying the Visa®, Plus®, or NYCE® logo. Please note, though SoFi doesn't charge foreign transaction fees, there is a foreign exchange fee of 1% charged by Visa that is not waived. SoFi reserves the right to limit or revoke ATM reimbursements at any time without notice.
3The average national checking account interest rate is calculated as of 4/30/2018 based on a simple average of rates paid (uses annual percentage yield) by all insured depository institutions and branches for which data are available. Data used to calculate the national rate is gathered by RateWatch. Interest checking account rates are based on the $2,500 product tier. Account types and maturities published in these tables are those most commonly offered by the banks and branches for which we have data – no fewer than 45,000 locations and as many as 81,000 locations reported. The deposit rates of credit unions are not included in the calculation. Visit FDIC site for details.
4The cash balance in SoFi Money Accounts is swept to one or more program banks where it earns a variable rate of interest and is eligible for FDIC insurance. FDIC Insurance is not provided until the funds arrive at partner bank. There are currently six banks available to accept these deposits, making customers eligible for up to $1,500,000 of FDIC insurance (six banks, $250,000 per bank). If the number of available banks changes, or you elect not to use, and/or have existing assets at, one or more of the available banks, the actual amount could be higher or lower. For more information on FDIC insurance coverage, please visit www.FDIC.gov. Customers are responsible for monitoring their total assets at each of the Program Banks to determine the extent of available FDIC insurance coverage in accordance with FDIC rules. The deposits in SoFi Money or at Program Banks are not covered by SIPC.
The SoFi Money Visa® debit card is issued by Wilmington Savings Fund Society. Visa is a registered trademark of Visa International Service Association and is used pursuant to a license from Visa U.S.A. Inc.
Neither SoFi nor its affiliates is a bank.
SoFi Money® is offered through SoFi Securities LLC, member FINRA/SIPC.

https://www.sofi.com/money/
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Created 05-30-2019 at 06:44 AM by IT_Mikee
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#2
Been using them as my primary bank for a few months, $20 interest/month on $10k is pretty darn sweet!
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HIDDEN
05-30-2019 at 07:53 AM
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#4
There's other banks out there that give you 2.5% with no fees
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#5
Quote from addictedsaver
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There's other banks out there that give you 2.5% with no fees
Like who? I'm not seeing much out there at 2.5%
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#6
Quote from RonDo
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Like who? I'm not seeing much out there at 2.5%
2.51% https://dannydealguru.com/2019/05...h-account/
2.50% https://dannydealguru.com/2019/05...s-account/
4% (requires some debit transactions monthly) https://www.doctorofcredit.com/ta...-required/

These are just a few. There's also 5% i believe with more requirements.
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#7
Quote from addictedsaver
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2.51% https://dannydealguru.com/2019/05...h-account/ [dannydealguru.com]
2.50% https://dannydealguru.com/2019/05...s-account/ [dannydealguru.com]
4% (requires some debit transactions monthly) https://www.doctorofcredit.com/ta...-required/ [doctorofcredit.com]

These are just a few. There's also 5% i believe with more requirements.
Thanks for the info.
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#8
Quote from marvado
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you can get a better deal/return on the stock market
can you list some stocks you would purchase today?
I am probably one of the many that do not know what to invest in.
Would like to see some that you list and see where it goes in a month.

Thanks
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#9
Quote from aznboicn
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can you list some stocks you would purchase today?
I am probably one of the many that do not know what to invest in.
Would like to see some that you list and see where it goes in a month.

Thanks
Please, if you're asking what stocks to invest in from a SD post please don't invest in stocks!
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#10
Quote from aznboicn
:
can you list some stocks you would purchase today?
I am probably one of the many that do not know what to invest in.
Would like to see some that you list and see where it goeu
Quote from lburgguy
:
Please, if you're asking what stocks to invest in from a SD post please don't invest in stocks!
i think it was sarcastic... i hope
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#11
Ps there are 4% banks with conditions. But also regular banks offering 2-2.5%

Because fed funds rate is right now 2.5% meaning we are still getting 0%. Bare min is 3% because we are offering real money while fed funds is fake or printed money.

Smh.

This is trash deal in comparision.
May as well just go with a tbtf bank. Or 4%+ banks with conditions.
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#12
Quote from addictedsaver
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2.51% https://dannydealguru.com/2019/05...h-account/
2.50% https://dannydealguru.com/2019/05...s-account/
4% (requires some debit transactions monthly) https://www.doctorofcredit.com/ta...-required/

These are just a few. There's also 5% i believe with more requirements.
Good job bro I stalk doctor of credit. Best website for banking imo. For slickdeals they dont know much about finance. So I go elsewhere
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#13
Quote from addictedsaver
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i think it was sarcastic... i hope
Probably just calling his BS. The odds of him picking a few that all return over 2.5% in 1 month is pretty low
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#14
The rates are great but service is pathetic. I closed my account as they placed hold on over $80k of cleared funds one fine day and their SLA was two weeks before the front lien customer service heard anything and could release it. I asked to speak to the fraud team to clarify any concerns they may have invented but they couldn't reach them (apparently they don't even talk to frontline customer service). They were apologetic about the situation but useless in getting it resolved. Finally I had to ask them to close my account when the probe was completed after two weeks of placing my funds on hold.
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#15
Quote from koge811
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Good job bro I stalk doctor of credit. Best website for banking imo. For slickdeals they dont know much about finance. So I go elsewhere
agree. need to follow those sites if you really want to maximize interest. and also bonuses just for opening bank accounts. even better return.
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