This is actually crazy!!
I just sent money to India instantly. This changes everything!!! Money used to to take days to settle, with a constant worry.
To top it off, it had a really low fee. 1 dollar static seems static, and some small processing fee.
Also it was so easy to set up. On my end, nothing was required, just a couple of button clicks. On the recipient end, they were able to sign upto UMA within a couple mins, and integrate with UPI (most common payment method in India). The money landed in the bank account in 5 seconds.
I’m an existing sofi+ member getting the 4.5% Apy offer while Robinhood is down to 3.75%.
I remember that Noto said that Sofi APY decrease will be slower than other platforms, and that was happening wrt to some other platforms but not Robinhood, this is the first time sofi APY is higher than Robinhood!
Not getting talked about enough
@Futurenvesting@DataDInvesting
@rbpanda60@DataDInvesting It’s also possible that they are timing their rewards at the same time they see weakness from other platforms and also coinciding with major releases on their platform like crypto, level 1 options etc, to really ramp up user growth and deposit growth.
1. Sofi base APY is now higher than Robinhood. (4.5% vs 3.75%). Even without this offer it’s 3.8% vs 3.75%
2. Noto fulfilled his promise wrt having slower decreases in APY even when compared to Robinhood.
3. I didn’t say this in the OP, but worth mentioning - after the recent rate cuts, I expected sofi to cut down 0.25% APY same as every other platform, but instead they are now offering me a boost of 0.7% to 4.5%.
@Tim_Sweeney_TAR BILT integrated their credit card by hooking it up to a virtual checking account, which you can use to pay rent and also not have fees
$SOFI
It’s common knowledge that home ownership has drastically fallen especially in the younger generations.
This means most people rent nowadays.
How cool would it be to earn points on rent payments and build savings towards home ownership through SOFI.
I only know of one credit card called BILT that has this service. This area has a lot of potential for disruption!
@anthonynoto@SoFi
$SOFI
It’s common knowledge that home ownership has drastically fallen especially in the younger generations.
This means most people rent nowadays.
How cool would it be to earn points on rent payments and build savings towards home ownership through SOFI.
I only know of one credit card called BILT that has this service. This area has a lot of potential for disruption!
@anthonynoto@SoFi
I’m almost fully sure that $SOFI made some improvements in their payment transfers.
I have a sofi checking and savings account, and a joint account with capital one, and an old Chase account I keep around.
1. A transfer from sofi to capital one used to take until the next business day, but last 2 transfers happened same day.
2. A transfer of more than 2k to my Chase account took multiple days, maybe 3-4 days earlier. However yesterday I was able to transfer 15k+ at once, same day.
@Futurenvesting@DataDInvesting@FunOfInvesting
@TegridyBanks@DataDInvesting@SoFi can you suggest anything I can try to enable these detailed notifications? My app is fully upto date. Is there a beta rollout going on?
@TegridyBanks@DataDInvesting I didn’t realize the push notifications button expanded into all these categories, at first glance it looks like an on-off switch. But all the relevant options seem already checked.