SoFi Money is a mobile banking solution, one of the features of the account is that it earns 2.25% APY. Previously you needed to do either of the following monthly to receive this rate:
- Have direct deposits totaling $3,000 or more
- Have debit card purchases totaling $500 or more
SoFi Money has sent out an e-mail to existing customers stating that this requirement is being removed. I still don’t entirely trust SoFi after they didn’t honor the $200 sign up bonus they promised when people signed up for the waiting list but they are now one of the best high yield checking accounts.
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