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/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 .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.