| Community Rating | Strongly recommended |
| Monthly Fee | $0 |
| ATM Fee: Out-of-Network | $0 |
| Minimum Balance to Avoid Monthly Fee | N/A |
| APY (Annual Percentage Yield) | 0.2% |
| Number of Reviews | 6 |
SoFi Money Cash Management Account Review
SoFi Money Cash Management Account is offered by SoFi, a nonbank financial services provider founded in 2011 and based in San Francisco, CA. SoFi Money Cash Management Account is available in 50 states (and Washington, DC).
Key Takeaways
- Low APY. The maximum annual percentage yield for this account is only 0.2%.
- $0 monthly fee. This account does not charge a monthly maintenance fee.
- No ATM fees. SoFi Money Cash Management Account does not charge fees on ATM transactions.
- ATM fee reimbursements. This account will reimburse you for the ATM fees charged by other financial institutions
- Free bill pay. Pay your bills to practically anyone in the United States through SoFi.
- Hard credit pull. SoFi may require a hard pull on your credit report to open a checking account.
SoFi Money Cash Management Account Pros & Cons
| Pros | Cons |
|---|---|
|
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SoFi Money Cash Management Account FAQ
Are checking accounts from SoFi federally insured?
No, your SoFi checking accounts are not insured by a federal insurance agency. This means that if SoFi were to fall into financial difficulties, your deposits are not covered by a government backed insurance fund like the FDIC or NCUSIF.
What APY does SoFi Money Cash Management Account offer?
| Description | |
|---|---|
| APY (Annual Percentage Yield) | 0.2% |
SoFi Money Cash Management Account offers an APY of 0.2% (APY stands for annual percentage yield, rates may change).
What are the account minimums for SoFi Money Cash Management Account?
SoFi Money Cash Management Account does not require a minimum initial deposit.
| Description | Amount |
|---|---|
| Minimum Initial Deposit | $0 |
What fees does SoFi Money Cash Management Account charge?
The good news is that this account does not have a monthly service charge.
| Description | |
|---|---|
| Monthly Fee | $0 |
| Paper Statement Fee | $0 |
| ATM Fee: In-Network | $0 |
| ATM Fee: Out-of-Network | $0 |
| NSF Fee | $0 |
| Overdraft Protection Fee (per transfer) | $0 |
| Overdraft Item Fee | $0 |
| Early Account Closure | $0 |
| Returned Deposit Fee (Domestic) | $0 |
| Debit Card Replacement Fee | $0 |
| Bank Teller Fee | N/A |
| Check Cashing Fee | N/A |
| Online Bill Pay Fee | $0 |
| Stop Payment Fee | $0 |
| Check Image Service | N/A |
| Check Copy | N/A |
| Foreign Transaction Fee (Debit Card) | 0% |
| Wire Transfer Fee - Domestic (Outgoing) | N/A |
| Wire Transfer Fee - International (Outgoing) | N/A |
| Wire Transfer Fee - International (Incoming) | N/A |
| Returned Deposit Fee (International) | $0 |
| Wire Transfer Fee - Domestic (Incoming) | N/A |
| ATM Reimbursement Monthly Limit | N/A |
What features and perks does SoFi Money Cash Management Account offer?
This account includes the following features:
- ATM reimbursement - This account will reimburse you for the ATM fees charged by other networks.
- Fraud monitoring - SoFi Money Cash Management Account monitors transactions for potentially fraudulent activity, such as when a debit card is unexpectedly used in a different location or you make a sudden string of costly purchases.
- Free Bill Pay - Bill Pay allows you to pay bills easily from your account.
- Mobile Banking Services - SoFi Money Cash Management Account allows you to manage your money online. This includes depositing checks in your account with your smartphone.
- Nationwide ATM network - Conveniently transact at a nearby ATM.
SoFi Money Cash Management Account Disclosure:
Standard fees for ingoing and outgoing wire transfers (actual fees not yet announced)
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may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking
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Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.
Contact
- Headquarters
-
234 1st Street
San Francisco, CA 94105 - (855) 456-7634
- Visit Site
Other Services by SoFi
Availability
Available in 50 states and Washington, D.C.
- Alabama
- Alaska
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- Washington, DC
- Florida
- Georgia
- Hawaii
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Maryland
- Massachusetts
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- Nevada
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Vermont
- Virginia
- Washington
- West Virginia
- Wisconsin
- Wyoming
Feature Breakdown
| ATM Fee: In-Network | $0 |
| Debit Card Replacement Fee | $0 |
| Early Account Closure | $0 |
| Foreign Transaction Fee (Debit Card) | 0% |
| Monthly Fee | $0 |
| NSF Fee | $0 |
| Online Bill Pay Fee | $0 |
| Overdraft Item Fee | $0 |
| Overdraft Protection Fee (per transfer) | $0 |
| Paper Statement Fee | $0 |
| Returned Deposit Fee (Domestic) | $0 |
| Returned Deposit Fee (International) | $0 |
| Stop Payment Fee | $0 |
| ATM Fee: Out-of-Network | $0 |
SoFi Money Cash Management Account Community Reviews
Would you recommend SoFi Money Cash Management Account to your friends?
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