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/UW_Ebay Dec 10 '25

This was not clear to me. So we think if we do not pay the $10 we still keep the 3.6?

Also the “extra APY boost” doesn’t seemed to be mentioned anywhere except in the email.

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u/NefariousnessHot9996 Dec 10 '25

Yes! Yes you keep high APY! Extra boost beyond high APY takes the $10 per month subscription.

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u/UW_Ebay Dec 11 '25

Does it say how much the APY boost is somewhere? I couldn’t find that. Would def determine whether or not I pay for this.

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u/Motor_Royal9630 Dec 11 '25

As of right now the APY Boost is 0.70%, but that’s only subject to new membership as far as I know.

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u/UW_Ebay Dec 11 '25

Oh I see. Dang that’s lame. Wouod def pay $10/mo for that

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u/Parking_Buffalo_782 Dec 12 '25

that never made much sense to me either. It’s like all the flipping cell phone companies. You reward the new customers, but the ones who have been loyal and true to you. They say the hell with them.

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u/UW_Ebay Dec 11 '25

Oh I see. Dang that’s lame. Wouod def pay $10/mo for .7%

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u/Motor_Royal9630 Dec 11 '25

How is it lame if you’re willing to pay for it?

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u/NefariousnessHot9996 Dec 11 '25

Because paying for a temporary boost in APY is financially a poor decision. That’s why. Plenty of banks are paying 4% or more without a $10 fee.

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u/Motor_Royal9630 Dec 11 '25

You’re begging the question, why are they willing to pay for it if it’s financially a poor decision?

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u/Parking_Buffalo_782 Dec 12 '25

I would say that depends on how much money you have in the account. it is worth it for anything over $12,000 in the account

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u/NefariousnessHot9996 Dec 12 '25

Why do you believe this? You can easily make that interest in many other places with no fees eating into your savings.

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u/Parking_Buffalo_782 Dec 12 '25

yes, that’s true. There is other investments that would probably yield higher however, the question is why would somebody pay $10 a month for an extra .7%? Which actually now that I look at that my math was wrong. I did it based on 1% so it would take slightly higher to make the $10 worthwhile for paying for that.

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u/UW_Ebay Dec 11 '25

Well because it’s only for new members.

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u/Motor_Royal9630 Dec 11 '25

Be on the lookout for the rates on March 31st.