Rule 606 Order Routing | Statement of Financial Condition
SoFi Money is a brokerage account, not a bank account, and is offered by a broker dealer. The SoFi Checking and Savings account 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.
1SoFi members with direct deposit can earn up to 1.25% annual percentage yield (APY) interest on all account balances in their Checking and Savings accounts (including Vaults). Members without direct deposit will earn 0.70% APY on all account balances in Checking and Savings (including Vaults). Interest rates are variable and subject to change at any time. Rate of 1.25% APY is current as of 04/05/2022. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet
2SoFi doesn’t charge any ATM fees and will reimburse ATM fees charged by other institutions when a SoFi Checking and Savings® Visa® Debit Card is used at any ATM displaying the Visa®, Plus®, or NYCE® logo. Please note, though SoFi doesn’t charge foreign transaction fees, there is a foreign exchange fee of 1% charged by Visa that is not waived. SoFi reserves the right to limit or revoke ATM reimbursements at any time without notice.
3The cash balance in SoFi Checking and Savings accounts is swept to one or more program banks where it earns a variable rate of interest and is eligible for FDIC insurance. FDIC Insurance does not immediately apply. Coverage begins when funds arrive at a partner bank. There are currently six banks available to accept these deposits, making customers eligible for up to $1,500,000 of FDIC insurance (six banks, $250,000 per bank). If the number of available banks changes, or you elect not to use, and/or have existing assets at, one or more of the available banks, the actual amount could be lower. For more information on FDIC insurance coverage, please visit www.FDIC.gov. Customers are responsible for monitoring their total assets at each of the Program Banks to determine the extent of available FDIC insurance coverage in accordance with FDIC rules. The deposits in SoFi Checking and Savings or at Program Banks are not covered by SIPC.
4Card Services provided by The Bancorp Bank, Member FDIC. The SoFi Checking and Savings 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.
The SoFi Checking and Savings® 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. The Bancorp Bank is the issuer of the SoFi Checking and Savings® World Debit Mastercard® only and is not responsible for other products, services or other offerings through SoFi.
Neither SoFi nor its affiliates is a bank.
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/.
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