SoFi Money is a cash managing banking account that you can use to deposit money into checking accounts with 24/7 access on your phone. The more you deposit the higher your interest rate goes for deposits. When you sign up it will give you a $75 bonus added onto your card.
It will provide you with a Debit Card, a simple easy access website, and mobile app, and customer support at your service. Customers here do not need to be a member to register for SoFi Money, all that is required is to be over the age of 18 and to provide basic personal information.
Some features of the SoFi Money are: there are no account fees, there is unlimited reimbursed ATM fees, higher interest rates, an automated bill pay, a freeze on the debit card on-the-go, and FDIC insured deposits that can go up to $1.5M. The customers participation is completely as an independent contractor. You will need to comply with all the applicable laws and regulations for their referrals.
There are no fees when signing up for an account along with no minimum balance required. You will be able to receive a 1.60% APY along with many SoFi membership benefits. The Money Referral Program will be open to all current account holders with SoFi.
With every transaction that is made they place a fully encrypted security code to protect your money and information. SoFi earns a small amount of interest money every time the card is used, it has lower costs when doing transactions online and will pass savings onto the customer with a higher interest rate.