{"id":4090,"date":"2022-02-26T05:08:16","date_gmt":"2022-02-26T05:08:16","guid":{"rendered":"https:\/\/moneymakersandsavers.com\/?p=4090"},"modified":"2022-02-26T05:08:20","modified_gmt":"2022-02-26T05:08:20","slug":"sofi-becomes-an-official-bank","status":"publish","type":"post","link":"https:\/\/moneymakersandsavers.com\/sofi-becomes-an-official-bank\/","title":{"rendered":"Sofi Becomes an Official Bank!"},"content":{"rendered":"\n<p><\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_55 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-66188fc9cd476\"><span class=\"\"><span style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #4ff74c;color:#4ff74c\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #4ff74c;color:#4ff74c\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-66188fc9cd476\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/moneymakersandsavers.com\/sofi-becomes-an-official-bank\/#What_is_Sofi\" title=\"What is Sofi?\">What is Sofi?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/moneymakersandsavers.com\/sofi-becomes-an-official-bank\/#What_does_it_mean_that_Sofi_became_an_official_bank\" title=\"What does it mean that Sofi became an official bank?\">What does it mean that Sofi became an official bank?<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\" id=\"what-is-sofi\"><span class=\"ez-toc-section\" id=\"What_is_Sofi\"><\/span>What is Sofi?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><\/p>\n\n\n\n<p><a href=\"https:\/\/moneymakersandsavers.com\/sofi\/\" data-type=\"post\" data-id=\"366\">Sofi<\/a> is an online bank that is very oriented towards the social and financial well-being of its customers. They started off as a lending institution that was mainly focused on student loans to help students get the best rates they could if they were going to get loans for their higher education.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>They have since branched out to offer just about all services a financial institution could offer. They offer <a href=\"https:\/\/moneymakersandsavers.com\/what-is-a-checking-account\/\" data-type=\"post\" data-id=\"2818\">checking<\/a>, <a href=\"https:\/\/moneymakersandsavers.com\/what-is-a-savings-account\/\" data-type=\"post\" data-id=\"2852\">savings<\/a>, investment, crypto, student loans, home loans, personal loans, auto loans, small business financing, and several different types of insurance.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>They also offer a host of other benefits like educational resources, loan calculators, career coaching, financial and estate planning, and as well as neat events that are entirely free experiences for Sofi\u2019s members.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/moneymakersandsavers.com\/wp-content\/uploads\/2022\/02\/sofi-official-bank-1024x576.jpg\" alt=\"sofi becomes an official bank!\" class=\"wp-image-4092\" srcset=\"https:\/\/moneymakersandsavers.com\/wp-content\/uploads\/2022\/02\/sofi-official-bank-1024x576.jpg 1024w, https:\/\/moneymakersandsavers.com\/wp-content\/uploads\/2022\/02\/sofi-official-bank-300x169.jpg 300w, https:\/\/moneymakersandsavers.com\/wp-content\/uploads\/2022\/02\/sofi-official-bank-768x432.jpg 768w, https:\/\/moneymakersandsavers.com\/wp-content\/uploads\/2022\/02\/sofi-official-bank-1200x675.jpg 1200w, https:\/\/moneymakersandsavers.com\/wp-content\/uploads\/2022\/02\/sofi-official-bank-150x84.jpg 150w, https:\/\/moneymakersandsavers.com\/wp-content\/uploads\/2022\/02\/sofi-official-bank.jpg 1280w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure><\/div>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"what-does-it-mean-that-sofi-became-an-official-bank\"><span class=\"ez-toc-section\" id=\"What_does_it_mean_that_Sofi_became_an_official_bank\"><\/span>What does it mean that Sofi became an official bank?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><\/p>\n\n\n\n<p>Up until this point in time, like most online banks, Sofi was not an official bank. They were a fintech bank. Like most fintech banks, Sofi was the more front-facing part of their company. However, in order to offer many of their financial services, Sofi partnered with &#8220;real&#8221; physical brick and mortar banks to do so. The banks that Sofi partnered with include <strong>MetaBank, Hills Bank and Trust Company, EagleBank, East West Bank, Tristate Bank Capital Bank, and Wells Fargo<\/strong>.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><strong><a href=\"https:\/\/moneymakersandsavers.com\/sofi\/\" data-type=\"post\" data-id=\"366\">SoFi<\/a> applied for and was granted approval by federal regulators to become a national bank in 2022<\/strong>. The fintech company began as a student loan refinance company but has expanded to other lending and banking products in recent years. SoFi believes the charter will help the company expand its products and services. <\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>Sofi currently offers an <a href=\"https:\/\/moneymakersandsavers.com\/what-is-an-interest-rate\/\" data-type=\"post\" data-id=\"2985\">APY<\/a> of 1.00% in both their savings and checking accounts. <\/p>\n\n\n\n<p><\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"700\" height=\"467\" src=\"https:\/\/moneymakersandsavers.com\/wp-content\/uploads\/2022\/02\/image-16.png\" alt=\"sofi becomes and official bank 2\" class=\"wp-image-4095\" srcset=\"https:\/\/moneymakersandsavers.com\/wp-content\/uploads\/2022\/02\/image-16.png 700w, https:\/\/moneymakersandsavers.com\/wp-content\/uploads\/2022\/02\/image-16-300x200.png 300w, https:\/\/moneymakersandsavers.com\/wp-content\/uploads\/2022\/02\/image-16-150x100.png 150w\" sizes=\"(max-width: 700px) 100vw, 700px\" \/><\/figure><\/div>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>Sofi currently offers an <a href=\"https:\/\/moneymakersandsavers.com\/what-is-an-interest-rate\/\" data-type=\"post\" data-id=\"2985\">APY<\/a> of 1.00% in both their savings and checking accounts. You can currently get a $100 signup offer when you sign for a new account with them and set up direct deposit for at least $1000 per month!<\/strong><\/p>\n\n\n\n<p><strong>Click on the button here to your own Sofi Account!<\/strong><\/p>\n\n\n\n<p><\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link has-white-color has-text-color has-background\" href=\"https:\/\/www.sofi.com\/share\/invest\/262928\" style=\"background-color:#10ccf4\" target=\"_blank\" rel=\"noreferrer noopener\">Click here to invest for FREE with Sofi Invest!<\/a><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>What is Sofi? Sofi is an online bank that is very oriented towards the social and financial well-being of its customers. They started off as a lending institution that was mainly focused on student loans to help students get the best rates they could if they were going to get loans for their higher education&#8230;.<\/p>\n","protected":false},"author":159998696,"featured_media":4094,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_kadence_starter_templates_imported_post":false,"_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"footnotes":""},"categories":[1361,1536],"tags":[1366,1503,1365,1616],"_links":{"self":[{"href":"https:\/\/moneymakersandsavers.com\/wp-json\/wp\/v2\/posts\/4090"}],"collection":[{"href":"https:\/\/moneymakersandsavers.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/moneymakersandsavers.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/moneymakersandsavers.com\/wp-json\/wp\/v2\/users\/159998696"}],"replies":[{"embeddable":true,"href":"https:\/\/moneymakersandsavers.com\/wp-json\/wp\/v2\/comments?post=4090"}],"version-history":[{"count":3,"href":"https:\/\/moneymakersandsavers.com\/wp-json\/wp\/v2\/posts\/4090\/revisions"}],"predecessor-version":[{"id":4096,"href":"https:\/\/moneymakersandsavers.com\/wp-json\/wp\/v2\/posts\/4090\/revisions\/4096"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/moneymakersandsavers.com\/wp-json\/wp\/v2\/media\/4094"}],"wp:attachment":[{"href":"https:\/\/moneymakersandsavers.com\/wp-json\/wp\/v2\/media?parent=4090"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/moneymakersandsavers.com\/wp-json\/wp\/v2\/categories?post=4090"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/moneymakersandsavers.com\/wp-json\/wp\/v2\/tags?post=4090"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}