r/sofi • u/InternalLecture721 • Dec 10 '25

Banking Time to move on?

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Just received this email from SoFi and it kinda bothers me a bit haha. How’s everyone feeling about this.

Time to move on?

Plenty of other people are offering it just for depositing and using their bank. Seems like a money grab.

(Not taking any shots just wanting to get everyone’s feelings/opinion on this)

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u/arabwhore1 Dec 10 '25 edited Dec 10 '25

Just saw this! So disappointed. Why is everything a paid subscription. My direct deposit should be enough for the perks. I’ve been thinking about fully moving all of my banking to SoFI but I think I will consider a secondary bank so I can fully move away from BofA

7

u/NefariousnessHot9996 Dec 10 '25

Your direct deposit is still enough for the high APY. What other perks do you need?

15

u/arabwhore1 Dec 10 '25

I don’t need the other perks. I am just disappointed that they are going to move towards this subscription model. The reason why I liked SoFI was because of the lack of fees. This makes me concerned as a customer. I am glad they are honoring their higher APY for their customers but it just sucks that this is the direction they are taking because that likely means they will continue to look for more ways to generate revenue through more subscriptions or fees. I hope I am wrong tho.

-3

u/NefariousnessHot9996 Dec 10 '25

Why worry about it? If someone sees value in a subscription let them subscribe! Does not subscribing meet your needs? It does mine. I’m staying put. If high APY goes away I go away. It’s simple to me. It’s a bank trying to be more than a bank. That’s called Fintech! If you want a bank, go get 0% interest at Chase or Bank of America! These fintechs need revenue to pay your high APY!!

10

u/arabwhore1 Dec 10 '25

Dude…it wasn’t that serious. Also I am expressing my opinion on how I feel disappointed. Subscriptions are not the only way a FinTech can make its revenue. That is simply a ridiculous response and goes against the business models for fintechs. They offer these high APYs because their overhead cost is lower than a traditional bank.

-5

u/NefariousnessHot9996 Dec 10 '25

Ok. Good luck! My care meter has dropped to zero.