Rule 606 Order Routing | Statement of Financial Condition
SoFi Money® is a cash management account, which is a brokerage product, offered by SoFi Securities LLC. Member FINRA/SIPC. Neither SoFi nor its affiliates are a bank.
This is not an offer, or solicitation of any offer to buy or sell any security, investment or other product. You can find additional information regarding SoFi Securities LLC and its registered persons at FINRA’s website. The firm reserves the right to monitor and retain all incoming and outgoing communications as permitted by applicable law.
The SoFi Money® World Debit Mastercard® is issued by The Bancorp Bank 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.
SoFi Securities LLC values your privacy and the security of your personal information so please do not include your social security number in any email or letter that you send to us.
1 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 5/1/21 12:01AM ET to 06/30/21 11:59PM 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. Bonus Terms: In order to qualify for the bonus, an enrolled member must have $1,000 or more in total qualifying Direct Deposit transactions within a 30-day period. Members have 90 days after enrollment in order to qualify for the bonus. 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 $100 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.
2 Based on 2020 user research
3 Vs. traditional transaction accounts. 6x is based on the national average of 0.04% from the weekly rate cap as of 11/3/2020.
4 Early access to direct deposit funds is based on the timing in which we receive notice of impending payment, which is typically up to two days before the scheduled payment date.
5 Overdraft Coverage only applies to SoFi Money accounts with qualifying direct deposits of $1,000/month and is currently unavailable for Samsung Money by SoFi accounts. Members with a prior history of non-repayment of negative balances for SoFi Money are also ineligible for Overdraft Coverage.
6 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 5/1/21 12:01AM ET to 06/30/21 11:59PM 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. Bonus Terms: In order to qualify for the bonus, an enrolled member must have $1,000 or more in total qualifying Direct Deposit transactions within a 30-day period. Members have 90 days after enrollment in order to qualify for the bonus. 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 $100 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.
No companies, brands or products mentioned or highlighted are affiliated with SoFi, nor do they endorse or sponsor this content. Third party trademarks referenced herein are property of their respective owners.
SoFi. 234 1st Street, San Francisco, CA 94105