SoFi obtained regulatory approval to turn into a nationwide financial institution and in addition rebranded their ‘SoFi Cash’ to turn into SoFi Checking and Financial savings. They started nudging everybody to modify over to the brand new account by rising the APY from 1% to 1.25% just for these on the brand new account. Nevertheless, they didn’t lengthen the ATM payment waiver to the brand new account, and a few most popular preserving the outdated account with the decrease rate of interest.
They now despatched out an e mail indicating that legacy accounts received’t obtain any curiosity in any respect starting June fifth. After that time the choice is both to maintain the ATM payment waiver with no curiosity or to improve to the brand new account.
Hat tip to reader raekwon