I took the bait – so there’s my Sofi Money review. Everyone’s abuzz about SoFi’s cash management account, SoFi Money, because you get:
- Unlimited, free ATM use worldwide allowing you to use any ATM that accepts Visa for free AND they’ll reimburse any fees that Visa charges (!) – an amazing perk for travelers
- 0.2% APY on your balance
- No fees, no minimums
- Sub-accounts to save for your goals, and joint accounts for your S.O.
- Blazing fast sign-up – I had an account open in 2 to 3 minutes
- $75 bonus when you open an account and make two direct deposits of $500 each – and it posts within a day or two
Plus, when you refer someone who uses your sign-up link, you get $25. Get on the gravy train (and thank you for using my link to join)!
Because of these features, I’m considering making SoFi Money my everyday checking account, even though it’s online-only. For over a decade, I’ve banked with Chase and can’t remember the last time I visited a branch.
My Chase account and SoFi Money are both free to have (I have an old Chase account that’s no longer offered), so I’ll switch everything over to SoFi Money for a while and see how it goes. Nothing to lose and free ATMs + an easy-to-use site and app to gain.
While Fidelity, Schwab, and Aspiration all have no-fee accounts with free ATM withdrawals (I compared them here), none of them have an APY on the balance you carry or immediate ATM reimbursements (Fidelity refunds you within a few days, the others can take up to a month).
And while I’m wont to offer yet another bank account option, scoring $75 for a couple of minutes of work is nothing to turn down.