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SOFI Money - Checking

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I came across SOFI Money account online and signed up with no issues, Banking portion is through the bancorp bank.  https://www.sofi.com/money/.   You get paper checks with this account, Deluxe prints them and you can reorder free checks directly from deluxe. You also get a debit mastercard.  you are also able to do ACH transactions ( credits and debits ) and can do mobile deposits.  I had spoken to a representative from SOFI and she advised this is not a prepaid card or prepaid product. I did get real bank checks and debit card in the mail. 

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Posted (edited)

Will check them out.

Do you know what was used to

approve?

Edited by tmcgill

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9 hours ago, tmcgill said:

Will check them out.

Do you know what was used to

approve?

Im not sure if they use anything. I am on chexsystems and EWS and so is my mother, she was approved as well. 

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Posted (edited)

SOFI Money:

 

With new banking opportunities, always Google and Bing the bank name, adding the word "complaints". I like to review both positive and negative comments.  All banks will have some negative comments, but consistent negative comments from individuals who may not know one another are flags you want to consider if you bank with them.

 

I'll contact them and get more info on their approval process.

 

https://www.consumeraffairs.com/finance/sofi.html?page=2#sort=top_reviews&filter=1

 

 

Edited by tmcgill

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On 5/4/2020 at 12:13 AM, mckbulldog02 said:

I came across SOFI Money account online and signed up with no issues, Banking portion is through the bancorp bank.  https://www.sofi.com/money/.   You get paper checks with this account, Deluxe prints them and you can reorder free checks directly from deluxe. You also get a debit mastercard.  you are also able to do ACH transactions ( credits and debits ) and can do mobile deposits.  I had spoken to a representative from SOFI and she advised this is not a prepaid card or prepaid product. I did get real bank checks and debit card in the mail. 

SOFI appears to be very lenient on who they let in on their banking product.  I defaulted on a 100k personal loan with them after a business failure and subsequently settled it when it went to collections at like 18k and I applied for their account when they were giving bonuses and they gave it to me.

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I've had the SoFi Money account for about a year, and SoFi Invest for about the same time. I was pissed at SoFi a couple years ago for buying Zenbanx and then shutting it down (what was the purpose of buying it?). I did like that account for the ability to hold different currencies.

As for SoFi Money, it's similar to many other of these debit accounts. I haven't used its check writing feature, but believe they did send me a pad of checks that are probably at the bottom of a desk drawer. The account does pay a small amount of interest. Nothing special about it, but if it works for you, that's all that's important.

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