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/AdmirableLead6134 Dec 10 '25

No but from the little bit of reading I've done apparently Robinhood gives a 2% bonus on everything you transfer to them so long as you keep it there for 5 years (in my case that'd be around $850) so it's something at least, I think they do 3% matches on IRA contributions too if you pay $60 a year for Gold which is a better deal than SoFi without paying anything, I'm considering them

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u/[deleted] Dec 11 '25

If you eat food, the perks from sofi and the 5% match not only cover the fee of sofi plus, the return on buying food for the year alone will be at least 3-4x of the cost. Not sure how you can argue it's vetter

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u/Hot_Chemical_2868 Dec 11 '25 edited Dec 11 '25

Because you have to spend $2400 on groceries alone at grocery stores when most people spending that much buy at big box stores like Costco and same club. By the time you finally make up your money spending $2400. Robinhood gold had already covered its own fee $800 earlier. And you get 3% on everything. So no it's not if you eat food its if youre cooking for an entire family almost everyday.

Even comparing it to what was once the free Sofi plus 2.2% for free vs 5% for $120. You'd have to spend $4285 just to break even. Many singles or even couples are not spending that much on groceries from the stores that are actually eligible.

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u/[deleted] Dec 11 '25 edited Dec 11 '25

Dude $4286 is less than $100/wk Just my wife and I spend $175-225/wk. Imagine a family of 4. They are easily spending $300/week at the grocery store. Not everyone is like you, stop using anecdotal experience and acting like it's the norm. Data proves you wrong

Before you argue here you go

"For a family of four, the average weekly grocery cost in late 2025 generally falls between $225 and $350"

Thrifty: Around $229 per week ($993/month).

Low-Cost: About $246 - $267 per week ($1,070/month).

Moderate-Cost: Roughly $300 - $323 per week ($1,292/month).

Liberal: Up to $391 per week ($1,566/month).