SoFi is now one of the top 220 banks in America. Deposits are growing rapidly thanks to SoFi Plus, which offers SoFi direct deposit customers amazing benefits such as 3% interest and early paycheck clearing.

"Most notably, upon securing a bank charter in the first quarter of 2022, SoFi launched a new Checking and Savings offering, which today has an APY of up to 2.50%, no minimum balance requirement, a host of free features and a unique rewards program. Total deposits grew 86% during the quarter to $5.0 billion at quarter-end, and 85% of SoFi Money deposits (inclusive of Checking and Savings and SoFi Money cash management accounts) are from direct deposit members. Half of newly funded SoFi Money accounts are setting up direct deposit by day 30 (versus 37% in
the second quarter), and this has had a significant impact on debit spending." - SoFi

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Sources:
- https://investors.sofi.com
- https://s27.q4cdn.com/749715820/files...
- https://s27.q4cdn.com/749715820/files...

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DISCLAIMER: This and all of my videos are for entertainment purposes only. My statements are my opinions and should not be accepted as financial advice.