Statement of Financial Condition
SoFi Money is a cash management account not a bank account, and is offered by a broker dealer. SoFi Money is a brokerage account. Neither SoFi nor its affiliates is a bank.
This is not an offer, or solicitation of any offer to buy or sell any security, investment or other product. Investing in securities involves risks, and there is always the potential of losing money when you invest in securities. Past performance, historical returns, future projections, and statistical forecasts are no guarantee of future returns or future performance.
SoFi Money is offered through SoFi Securities LLC.
1The SoFi Money® Annual Percentage Yield as of 7/1/2020 is 0.25% APY (0.25% interest rate). Interest rates are variable subject to change at our discretion, at any time. No minimum balance required.
The SoFi Money World Mastercard® debit card is issued by Bancorp. Mastercard is a registered trademark of Mastercard Association and is used by Bancorp pursuant to a license from Mastercard.
Advisory services are offered through SoFi Wealth, LLC a registered Investment adviser. Information about SoFi Wealth’s advisory operations, services, and fees is set forth in SoFi Wealth’s current Form ADV Part 2 (Brochure), a copy of which is available upon request and at www.adviserinfo.sec.gov/.
The umbrella term “SoFi Invest” refers to the two investment and trading platforms operated by Social Finance, Inc. and its affiliates (described below). Individual customer accounts may be subject to the terms applicable to one or more of the platforms below.
1) Automated Investing—The Automated Investing platform is owned by SoFi Wealth LLC, an SEC Registered Investment Advisor (“Sofi Wealth“). Brokerage services are provided to SoFi Wealth LLC by SoFi Securities LLC, an affiliated SEC registered broker dealer and member FINRA/SIPC, (“Sofi Securities).
2) Active Investing—The Active Investing platform is owned by SoFi Securities LLC. Clearing and custody of all securities are provided by APEX Clearing Corporation.
Neither the Investment Advisor Representatives of SoFi Wealth, nor the Registered Representatives of SoFi Securities are compensated for the sale of any product or service sold through any SoFi Invest platform. Information related to lending products contained herein should not be construed as an offer to sell, a solicitation to buy or a pre-qualification of any loan product offered by SoFi Lending Corp and/or its affiliates.
“SoFi Invest” is the brand name for brokerage products and services offered through SoFi Securities LLC (SFS) Member FINRA/SIPC including SoFi Money®, advisory services offered through SoFi Wealth LLC (SFW) an SEC Registered Investment Adviser, and cryptocurrency services offered through SoFi Digital Assets, LLC (SDA). SFS, SFW, and SDA are affiliated companies under the common control of Social Finance, Inc. (SoFi). Neither SoFi nor its subsidiaries are a bank.
†See Pricing Terms & Conditions. Lower your APR: Once a customer makes 12 on-time payments, of at least the minimum payment due, on the SoFi Credit Card, SoFi will reduce the APR by 1% for so long as you continue to make such payments.
Credit Card accounts are subject to additional credit approval. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS PROSPECTIVELY BASED ON MARKET CONDITIONS AND BORROWER ELIGIBILITY. Your eligibility for a SoFi Credit Card Account or a subsequently offered product or service is subject to the final determination by The Bank of Missouri (“TBOM”) (“Issuer”), as issuer. Please allow up to 30 days from date of submission to process your application. The card offer referenced in this communication is only available to individuals who are at least 18 years of age (or of legal age in your state of residence), and who reside in the United States. The SoFi Credit Card is issued by TBOM pursuant to license by Mastercard® International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.
*You can earn rewards points of 1% of all eligible purchases. If you elect to redeem points as cash deposited into your SoFi Money® account, for shares in your SoFi Invest® account, or as payments to a SoFi Student or Personal Loan, then SoFi will match the value with an additional 1% in cash, so you will receive a total of 2% cash back. For more details, please see SoFi.com/card/rewards. Brokerage and Active investing products offered through SoFi Securities LLC, member FINRA/SIPC.
SoFi Relay is offered through SoFi Wealth LLC, an SEC-registered investment advisor. For more information, please see our Form ADV Part 2A, a copy of which is available upon request and at www.adviserinfo.sec.gov/. For additional information on SoFi Wealth LLC, SoFi Relay, and products and services of affiliates, see SoFi.com/legal.
Ladder offers term policies in New York (policy form # MN-26) that are issued by Allianz Life Insurance Company of New York. Term policies are issued in all other states and DC by Fidelity Security Life Insurance Company, Kansas City, MO (policy form No. ICC17-M-1069 and M-1069). Coverage and pricing is subject to eligibility and underwriting criteria. SoFi Agency and its affiliates do not guarantee the services of any insurance company. The California license number for SoFi Agency is 0L13077 and for Ladder is OK22568. Ladder, SoFi and SoFi Agency are separate, independent entities and are not responsible for the financial condition, business, or legal obligations of the other. Social Finance, Inc. (SoFi) and Social Finance Life Insurance Agency, LLC (SoFi Agency) do not issue, underwrite insurance or pay claims under LadderLifeTM policies. SoFi is compensated by Ladder for each customer that completes an application through the SoFi-Ladder partnership.
SoFi offers customers the opportunity to reach Ladder Insurance Services, LLC to obtain information about estate planning documents such as wills.
Social Finance, Inc. (“SoFi”) will be paid a marketing fee by Ladder when customers make a purchase through this SoFi Protect link.
All services from Ladder Insurance Services, LLC are their own. Once you reach Ladder, SoFi is not involved and has no control over the products or services involved.
The Ladder service is limited to documents and does not provide legal advice. Individual circumstances are unique and using documents provided is not a substitute for obtaining legal advice.
LadderLifeTM term life is a term life insurance policy made available through Ladder Insurance Services, LLC (Ladder) and underwritten by Fidelity Security Life Insurance Company, Kansas City, MO. Product availability and features may vary by state. Not available in New York. The California license number for Ladder is OK22568. Policy Form No. ICC17-M-1069, M-1069. Policy No. TL-146.
✝ To check the rates and terms you qualify for, SoFi conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.
Terms and Conditions Apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. To qualify for lending products, a borrower must be a U.S. citizen or permanent resident in an eligible state and meet SoFi’s underwriting requirements. Not all borrowers receive the lowest rate. To qualify for the lowest rate, you must have a responsible financial history and meet other conditions. If approved, your actual rate will be within the range of rates listed above and will depend on a variety of factors, including term of loan, a responsible financial history, years of experience, income and other factors. Rates and Terms are subject to change at anytime without notice and are subject to state restrictions. SoFi refinance loans are private loans and do not have the same repayment options that the federal loan program offers such as Income Based Repayment or Income Contingent Repayment or PAYE. Licensed by the Department of Financial Protection and Innovation under the California Financing Law License No. 6054612. SoFi loans are originated by SoFi Lending Corp., NMLS # 1121636. (www.nmlsconsumeraccess.org)
SoFi receives compensation in the event you obtain a loan through the Lantern marketplace. This Lantern site is operated by SoFi Lending Corp to help you with your loan search.
Apple and the Apple logo are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc., registered in the U.S. and other countries.
Google Play and the Google Play logo are trademarks of Google Inc.
* Traditional Advisor Fee is sourced from the Financial Advisor Fees 2017 Report prepared by Advisory HQ. The stated fee is the “Average Advisor Fee (%)” and is correlated to an assumed asset amount of $50,000, which is above our average account size. Please see the report for additional detail.
The following describes the terms that apply to participation in the SoFi Money account funding offer (“Offer”) offered by SoFi Securities LLC (“SoFi”). To receive the bonus offer, participants must first apply and successfully open a SoFi Money cash management account. To receive the promotional balance, deposit(s) of $100 or more must be made in the new account by the new SoFi Money member; additionally, the $100 minimum balance needs to stay in the new member’s account for 90 days in order for the new member to qualify for a $125 bonus. Within 3 business days of such a deposit, qualifying participants will receive a $125 deposit into their SoFi Money account. This offer is limited to one per account. This is a limited time offer that will expire on 8/14/2020 at 5pm ET. SoFi reserves the right to expire the offer at any time. The deposit of $100 or more must be made into the new account prior to offer expiry. Participants must comply with the SoFi Money terms of use. Any fraudulent or returned funding will result in disqualification. Bonus amounts of $600 or greater in a single calendar year may be reported to the Internal Revenue Service (IRS) as miscellaneous income to the recipient on Form 1099-MISC in the year received by applicable law. Recipient is responsible for any applicable federal, state or local taxes associated with receiving the bonus offer, consult your tax advisor to determine applicable tax consequences. SoFi reserves the right to change or terminate the offer at any time or without notice. The following describes the terms that apply to participation in the SoFi Money direct deposit promotional program (“Program”) offered by SoFi Securities LLC (“SoFi”). Eligible Participants: All new and existing SoFi Members without a prior history of Direct Deposit transactions (“Direct Deposit”) to their SoFi Money account are eligible for the Program. Enrollment period: Enrollment in the Program will be available from 8/4/2020 12:01AM ET to 9/30/2020 12:00PM ET. New SoFi Money members who open their account within the enrollment period are automatically enrolled in the Program with the account open date acting as the effective enrollment date. Existing members without a prior history of Direct Deposit transactions (“Direct Deposit”) are automatically enrolled in the Program at the start of the enrollment period. Promotion Period: Enrolled members have until 11/30/20 at 12:00AM EST in order to qualify for the bonus. Bonus Terms: In order to qualify for the bonus an enrolled member must have $500 or more in total qualifying Direct Deposit transactions within the promotion period. Qualifying Direct Deposits must be made from the enrolled member’s employer, payroll, or benefits provider via ACH deposit. Deposits that are not from an employer (such as check deposits; P2P transfers such as from PayPal or Venmo, etc.; merchant transactions such as from PayPal, Stripe, Square, etc.; and bank ACH transfers not from employers) do not qualify for this promotion. SoFi will credit members who meet the qualification criteria stated above with a one-time cash bonus of $75 deposited into their SoFi Money account within two weeks of qualification. Bonuses are considered miscellaneous income, and may be reportable to the IRS on Form 1099-MISC (or Form 1042-S, if applicable). SoFi reserves the right to exclude any Members from participating in the Program for any reason, including suspected fraud, misuse, or if suspicious activities are observed. SoFi also reserves the right to stop or make changes to the Program at any time.
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