Sofi Money Review
- NO ATM fee worldwide! It is said on their official website: “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” According to the actual experiences, this means you will pay a 1% fee when make purchases, while it is absolutely free to withdraw cash from ATM.
- Its interest rate used to be good, but since the Fed lowered the interest rate to 0, it’s also close to 0 now.
- $0 monthly fee, no minimum deposit requirements.
- Sofi itself is not a bank, but it obtains FDIC insurance by its partner banks.
Sofi is a new and fast growing fintech company. This account is good in terms of UI and it has no fees.