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SoFi Launches High-Interest Checking and Savings Account

3/23/2026

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Summary

Story summary

SoFi Technologies, Inc., doing business as SoFi, offers a combined Checking and Savings account with 4.30% APY on savings.
The account has no maintenance fees, Federal Deposit Insurance Corporation (FDIC) coverage up to $3 million, and fee-free access to over 55,000 ATMs.
New users can earn Direct Deposit bonuses from $50 to $400 based on deposits.
Overdraft Coverage applies for eligible direct deposits of $1,000 or more, up to $50.

History

Historical Context

The Glass-Steagall Act, enacted in 1933 during the Great Depression, established a separation between commercial and investment banking to protect consumers and created the Federal Deposit Insurance Corporation (FDIC). Although repealed in 1999 by the Gramm-Leach-Bliley Act, its legacy continues to shape banking regulations and consumer trust, as seen in modern financial products like those offered by SoFi Technologies, Inc.

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Story summary

SoFi Technologies, Inc., doing business as SoFi, offers a combined Checking and Savings account with 4.30% APY on savings.
The account has no maintenance fees, Federal Deposit Insurance Corporation (FDIC) coverage up to $3 million, and fee-free access to over 55,000 ATMs.
New users can earn Direct Deposit bonuses from $50 to $400 based on deposits.
Overdraft Coverage applies for eligible direct deposits of $1,000 or more, up to $50.

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