People want to get the most out of their banking experience, but traditional physical banks don’t provide the experience people seek. Not only do traditional banks charge fees for a lot of things, but the interest rates for savings accounts are low, and their online banking apps leave a lot to be desired. That’s where SoFi comes into play with their fully mobile banking solutions. Still, you’re probably curious about what benefits SoFi mobile banking offers. Read below to learn more.
Over 55,000 Fee Free ATMs
Gone are the days when you use the only available ATM to find that it’s going to charge you a fee to access your money. Sometimes you don’t even have money to cover the fee, and you’re socked with an overdraft fee. Through the Allpoint ATM network, you can withdraw cash without worrying about ATM fees.
Automated Bill Pay
Automated bill pay has a great number of benefits. Once you confirm how long it takes a payment to process, you can set the payment date a few days before. Not only do you improve your credit score with consistent payments, but it makes paying your bills incredibly convenient. All you have to do is check your balance to ensure payment. Mobile banking with SoFi has never been easier.
Very few employers use paper checks these days, especially through the mail. Gone are the days when you have to wait for your employer to walk by, handing out paper checks and hoping they don’t forget. With direct deposits, you don’t have to spend time going to the bank, waiting in traffic, and then in line to deposit your check.
Higher Interest On Savings
One of the complaints many people have about traditional banks is that the interest rates for their savings accounts are laughably low. That’s not the case with SoFi; savers earn 1% APY, which is 33% more than the national average through traditional banks.
Mobile Check Deposit
If your employer still provides paper checks, we make it easy to get that money to your account. Once you fund your account with $500 or more, you can make check deposits with your phone. All you have to do is take a photo of the back and front of your check, enter the amount on the check, confirm that you have the correct information and you’re good to go.
Save With Vaults
SoFi Vaults are not distinct accounts of their own but merely extensions of your money account. You can put money in a vault specifically for an emergency fund or a specific savings goal. It’s the new equivalent of saving money in a piggy bank or a special envelope.
If you’re ready to experience banking with no account fees while paying your bills online, now is the time to open an account with us. If you’re tired of dealing with traditional banks, their fees, and low interest rates, then it’s time for mobile banking with SoFi.