No, not at this time. Members will sign up for both a checking and savings account (and can get 4.00% APY on their Savings & Vaults balances and 1.20% APY on their Checking balances with active direct deposit).
If you are an existing Money member, you'll be upgraded to both checking and savings accounts.
NOTE: Members without direct deposit will earn 1.20% APY on Checking and Savings deposits.
I’m a SoFi Money member…what changes when I upgrade to SoFi Checking and Savings accounts?