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  SoFi Money Cash Management Account

SoFi Money Cash Management Account

in Checking Accounts from SoFi

Claimed

SoFi Money Cash Management Account

Claimed

in Checking Accounts from SoFi

SuperMoney Net Recommendation Score +50

SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +50, equating to 4 on a 5 point rating scale.

+50

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

Strongly recommended

4 users recommend
1 user is unsure
1 user doesn't recommend
Browse Reviews: 4 Recommendations | 1 Complaints
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Highlights
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) 0.01% - 0.25%
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
  • Higher than average APY. SoFi Money Cash Management Account has an annual percentage yield of up to 0.25%, which is higher than the national average interest rate on savings accounts.
  • $0 monthly fee. This account does not charge a monthly Service Charge.
  • No minimum initial deposit. There is no minimum balance required to open an account.
  • No ATM fees. SoFi Money Cash Management Account does not charge fees on ATM transactions.
  • ATM fee reimbursements. This account will reimburse you for ATM fees (see terms and conditions for details).
  • Bill pay. Pay your bills to practically anyone in the United States through SoFi.
SoFi Money Cash Management account Pros & Cons
Pros Cons
  • Zero fees.
  • No minimum balances.
  • Available in all 50 states.
  • Interest-yielding account.
  • Free debit card
  • No charge on incoming domestic or international wire transfers.
  • Online-only account with no access to physical branches.
  • Not FDIC-insured.
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?

SoFi Money Cash Management account offers an APY starting at 0.01% and ranging up to 0.25% (APY stands for annual percentage yield, rates may change).

SoFi Money Cash Management account Rates and Terms
Rates Amount
APY (Annual Percentage Yield) 0.01% - 0.25%

What are the account minimums for SoFi Money Cash Management account?

SoFi Money Cash Management account does not require a minimum initial deposit.

SoFi Money Cash Management Account Minimums
Description
APY Minimum Balance $0
Minimum Opening Deposit Starting at $0

What fees does SoFi Money Cash Management account charge?

The good news is that this account does not have a monthly Service Charge.

SoFi Money Cash Management Account Fees
Description
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

Does SoFi Money Cash Management account charge overdraft fees?

No, SoFi Money Cash Management account does not charge overdraft fees.

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 any domestic ATM fees.
  • Fraud monitoring - SoFi Money Cash Management account monitors transactions for potentially unauthorized activity, such as when a debit card is unexpectedly used in a different location or you make a sudden string of costly purchases.
  • Online Bill Pay - Online 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 or with a mobile app. This includes depositing checks in your account with a mobile app on your smartphone.
  • Nationwide ATM network - Conveniently transact at a nearby ATM.

What is the customer support email for SoFi Money Cash Management account?

The customer support email for SoFi Money Cash Management account is pr@sofi.com.

How do people rate the customer service and user experience of SoFi Money Cash Management account?

Overall, SoFi Money Cash Management account is strongly recommended based on community reviews that rate customer service and user experience.

SoFi Money Cash Management Account Disclosure: Standard fees for ingoing and outgoing wire transfers (actual fees not yet announced)
SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
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.

Message From SoFi Money Cash Management Account

Get paid early. Reach your goals faster. Get your paycheck up to two days early, pay no account or overdraft fees, and reach your goals faster with automatic savings features. Get even more with direct deposit. No account fees and free ATMs at 55,000+ Allpoint locations? Oh, that's just the beginning. Set up qualifying direct deposit to unlock these features and more. No overdraft fees. No minimum balance fees. No monthly fees. Save, spend, and earn— all with SoFi Money.

Contact

Hours of Operation

  • Sunday 4:00am - 5:00pm
  • Monday 4:00am - 9:00pm
  • Tuesday 4:00am - 9:00pm
  • Wednesday 4:00am - 9:00pm
  • Thursday 4:00am - 9:00pm
  • Friday 4:00am - 5:00pm
  • Saturday 4:00am - 5:00pm

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Availability

  Available in 50 states and Washington, D.C.
  • Alaska
  • Alabama
  • Arkansas
  • Arizona
  • California
  • Colorado
  • Connecticut
  • Washington, DC
  • Delaware
  • Florida
  • Georgia
  • Hawaii
  • Iowa
  • Idaho
  • Illinois
  • Indiana
  • Kansas
  • Kentucky
  • Louisiana
  • Massachusetts
  • Maryland
  • Maine
  • Michigan
  • Minnesota
  • Missouri
  • Mississippi
  • Montana
  • North Carolina
  • North Dakota
  • Nebraska
  • New Hampshire
  • New Jersey
  • New Mexico
  • Nevada
  • New York
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Virginia
  • Vermont
  • Washington
  • Wisconsin
  • West Virginia
  • 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
Account Features
  • No ATM Fees
  • Free Bill Pay
  • Mobile Check Deposit
  • No Monthly Maintenance Fee
  • Interest Bearing Account
  • ATM Reimbursement
  • Nationwide ATM Network
  • Mobile Banking
  • Fraud Monitoring
  • Debit Card
  • Member FDIC
  • Online-Only Account
Cashback Rewards Up to 15
APY (Annual Percentage Yield) 0.01% - 0.25%

SoFi Money Cash Management Account Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +50, equating to 4 on a 5 point rating scale.

+50

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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