Effective June 5, 2022, we have implemented the following change:
SoFi Money accounts no longer earn interest. As an alternative, our SoFi Checking and Savings products are interest-bearing accounts and available to meet your banking needs
If you have SoFi Money and have not upgraded to SoFi Checking and Savings:
- You will see messages each time you log in to the SoFi app with an “Upgrade now” button. That will initiate the upgrade process for you.
Once you upgrade, you’ll have access to up to 4.20% APY on your Savings & Vaults balances and 1.20% APY on your Checking balances ( active direct deposit required) and more with SoFi Checking and Savings.