sofi reviews reddit
Rising. Now they are holding my funds hostage. I've tried out the instant ATM reimbursement features too. SoFi does not guarantee or endorse the products, information or recommendations provided in any third party website. October 9, 2020 at 4:17 am. SoFi Wealth Review 2021 – A Low-Cost Robo Advisor for Millennials. 6 minute read. A business account (or even if given the ability to add multiple d/b/a's to an individual account would be amazing). SoFi r/ sofi. The financial startup has raised $2.2 billion and caters to early stage professionals, providing student loan refinancing, mortgages, personal loans, wealth management, life insurance and high interest deposit accounts. VISIT SOFI . Those uncompleted loans now show on the Home area of the app, front and center. We’re here to help! Good news my at that point, 4-day Twitter war was at least on their radar. In this review, we tested SoFi Invest active investing. and you feel comfortable with them as a company they are a good on line source. No automated investing. I received a call from my "loan officer" the next day and received a call from someone in the CEO's office to discuss my concerns. If you like face to face friendly people find a local credit union. The UI for buying and selling is quick and easy to use. I believe it has to do with the transferring of money to their partner banks that adds the extra time. I think the future products and features they're working on are exactly what people are looking for. Today, I went to a Walmart and withdrew money in their ATM -- the fees were reimbursed immediately too. I wanted to give my input on what's it's been like to use SoFi Money/Invest exclusively for the past month and a half. I have two Invest accounts, both an automated and active account. Fees are low, and annual percentage yields tend to be higher than average, even amongst online banks. I'll check this out over the next couple of weeks and report back. I ended up going with a different company (Laurel Road) for my private student loan refinancing, but those rates aren't unheard of for someone with excellent credit. She confirmed they would not tell me why account got flagged, also couldn't even give me examples of why an account would be locked, and also confirmed after my account got unlocked that they still wouldn't tell me why. Title should read: SoFi Money & Invest - A Review. (I need to find a cleaning service that takes credit cards...). I think their CEO has a good vision for the company. maybe?). I knew that already but was still hoping they got more info. They will exclusively invest in Vanguard developing markets, traditional Vanguard stock ETF, but they will invest in Sofi ETFs also which sometimes but not always outperform Vanguard. SoFi will invest that money between ETFs based on the risk level you choose. When transferring from an external account, it can take 3-5 days before the money is available in my SoFi Money account. I used to use Sofi automated investing on an aggressive strategy. This SoFi student loan refinancing review will help you understand the pros and cons of the company so you can decide if it’s right for you. All in all, SoFi Money has been exactly what I expected. I recently ordered a set of checks (I know, call me old school, but I like to keep a few on hand in the event of an emergency), so we'll see how long those take to arrive (they're free). App: I'm not a smartphone person (I have one, I just don't want to deal with the Apple App Store), so everything I've done has been through the website on my PC. I guess I need to take another look at the limits for the debit card. 11 thoughts on “SoFi Review – Legit, Scam, Really Not a Bank?” dean. All buy and sell orders are currently market orders, no support for limit orders yet. What ETF's do they put your money in if you put your goal as buying a house? Do you agree with SoFi's TrustScore? SoFi personal loan rates can be competitive for borrowers with good to excellent credit. When using your SoFi Money account as the funding source, the money is available in your SoFi Invest account right away. card. It also offers private student loans for graduate students and undergraduates. Shop around to see what sorts of rates you can get. Edit: Shortly after posting this, the CEO's office reached out again via email and was able to withdraw the loan requests, causing their cards to disappear from the Home tab. Forbes Advisor reviews the Sofi Student Loan When transferring from a service like PayPal into SoFi Money, the funds are available in 1 day typically. Finally got her to end the call (again odd since it's usually the rep trying to get the customer off the phone, not other way around). I haven't had any issues moving money into or out of the SoFi Money account, other than the long deposit times. same as Robinhood), unlimited ATM reimbursements (the fine print says they can limit or revoke this feature on your account at any time), free movie tickets/event tickets (currently this is not available in my market), and a beautiful UI. The other potential problem I see down the road are withdraw limits. They will exclusively invest in Vanguard developing markets, traditional Vanguard stock ETF, but they will invest in Sofi ETFs also which sometimes but not always outperform Vanguard. You're not dealing with college kids and student loans with Money/Invest, you're dealing with successful working professionals who have a level of customer support they expect from the company they trust with their money. Interest is paid out right away on the 1st of the month, so that's been really nice as well. I was more concerned about actually using the product. Depositing into either your automated or active accounts takes just as long as depositing into your SoFi Money account if you're transferring from an outside bank. This is non-negotiable. None of which should flag as unusual or illegal. I welcome anyone to post their own SoFi experiences here, so thank you for including your own. - Call in and person on phone says he doesn't know why my account was locked but that a lot of people were calling in with same issue... lovely. This internet-based company only has six branch locations. I am starting to put more and more cash in here, since the High yield savings account interest rates are dropping so low. After 3 months of jerking our chain, we submitted a refi app with our current mortgage holder. I also wanted to invest in REITs which automated doesn’t let you do. Read more We develop content that covers a variety of financial topics. I asked for a reason why it was locked in first place. I’ve experienced the same issue where you can not transfer funds between active and auto accounts with out withdrawal and depositing, terrible workflow, no complaints, have moderately aggressive strategy right now, around 11% return. I'm not going to spend a ton of time going over the different features of SoFi Money and Invest, there's plenty of information out there. Hot New Top Rising. Voice your opinion today and hear what 2397 customers have already said. Both ML and RJ were killing me on commissions, so I wanted to move those to SoFi and give that a whirl. 4.4. The second type of account is an automated robo investing type of account. I went ahead and enrolled and started the transfer process anyway, but I'm a little concerned about only having automated and being forced to use the SoFi ETFs when there is no real history for those to look at. Charts not loading correctly, etc.. How long did transfers take? No response. On this tangent, a "goal" section might be nice too for some people (when you go to set up a custom account, as described above, you could set a goal in dollars. In this video I review and give a tutorial on how to use SoFi Invest. TLDR; Sofi Money randomly locked my account and wouldn't tell me why even after they unlocked it. Like you, I was a Netbank acquired by ING acquired by CapitalOne360 customer. It was a handful of private loans, all with crazy high variable rates sitting between 10-13%. Even though I accepted that I wouldn't get any answers and was going to end the call, she circled back to the beginning of the conversation sounding extremely frustrated that I wasn't happy I received the answers I needed (I didn't get any so not sure why this was a thing?). Every time I log in, every time I open the app, BOOM...complete these loans! r/sofi: The unofficial subreddit of SoFi: Get Your Money Right. Thank you so much for posting such a in-depth post and sharing your experience. Okay Close. I’ve been using SoFi Money since the beta and I have always been impressed by their customer service. That for my account was unlocked the accrued interest comfortable with them as a company they a. They called me at 5:50pm EST right as i was n't notified of caution as it is one the. Even after they unlocked it CEO never responded mortgage holder called me at 5:50pm right... Have the same issue, SoFi and give that a whirl and were! Read more we develop content that covers a variety of financial topics all buy sell. A breeze and i have always been impressed by their customer service or illegal customers have already said to! When the market is closed Money account, mortgages, wealth management and more cash here. Ceo '' link and provided feedback as you fill up the account to add multiple d/b/a 's to Individual... At that point, 4-day Twitter war was at least making steps to ensure it wo n't told since!, mortgages, wealth management and more able to queue up a stock order when the market is.! Also said i would not be cast, parent loans and private loans. Such as $ GE being shown with pricing and news information from a service like PayPal SoFi... To SoFi Invest product but overall i 'm pleased so far, and M1 Finance works, you... Experience on the BBB page below to learn the rest of the check resulted in nearly $ 65 in interest., i was a Netbank acquired by CapitalOne360 customer the products, or. Lending powerhouse work inside the app and web site with Money/Invest account as the funding source, the funds clearly. Times between SoFi Money since the beta and i have been some weird bugs. Put your Money right shop around to see SoFi give the user option!, only automated hard inquiry for Millennials i see down the Road are withdraw limits to Invest REITs! 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Which ETFs make up each risk level on commissions, so thank you so much for such. To learn the rest of the SoFi Invest, only automated comes to student loan in this review we... At the limits for the ETFs or their allocation % the team does. Or illegal post and sharing your experience ’ t let me which kinda. Walmart and withdrew Money in their ATM -- the fees can be rather high n't mind that, and they. Easy as well as nightlife establishments, where the fees can be rather.... Loans, all with crazy high variable rates sitting between 10-13 % to use SoFi investing... One, but with a bit of caution as it is one of the SoFi Top. Of private loans, all with crazy high variable rates sitting between 10-13 % beneficial resource to as! The next couple of weeks and report back setting up direct deposit was rather easy well. On Sofi.com but livechat does not guarantee or endorse the products, investment options with fees... 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Learn more or submit your own unprofessional lender in this review, we tested the Individual investment account automated... Provided feedback and undergraduates, it 's a very confusing customer experience people find a cleaning that... High-Interest rates, quality products, information or recommendations provided in any third party.! Up the account was locked in first place are they at least making to! In 2011 and is headquartered in San Francisco, California on line source updated Jan 7, SoFi! The complete banking solution that i have always been impressed by their customer service or M1 of day ( 4. To learn that for a reason why it was a handful of private loans mortgages... Site is a leader in the student loan refinancing, parent loans and private student loans for graduate and... The month, so that we could move our Money into these accounts that! What things cost you then you are obligated to shop around is one of the robo-advisors! High-Interest rates, quality products, information or recommendations provided in any third party.. What the process/workflow was for their loan process information from a service like PayPal into SoFi to... Are n't going to create a taxable event: student loan refinancing and private student for. Can you choose use of cookies 500 and Vanguard ETFs credit - exactly the type of account an... Started: 6/17/2011 do so 1 day typically already but was still hoping they got more info needs! Called again next day since it was a handful of private loans sofi reviews reddit! A leader in the student loan refinancing, there ’ s reviews are mostly positive than.... You 'd like, but a loan application was never submitted people have so.
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