Be careful of Sofi, like so many IPOed to raise money from covid, their stock tumbled ~-60% YTD: https://www.google.com/search?q=sofi+stock&oq=sofi+stock&aqs=ed

Be careful of Sofi, like so many IPOed to raise money from covid, their stock tumbled ~-60% YTD: https://www.google.com/search?q=sofi+stock&oq=sofi+stock&aqs=edge.0.69i59j0i20i263i433i512j0i512l6j69i64.9644j1j4&sourceid=chrome&ie=UTF-8 https://www.google.com/search?q=sofi+stock&oq=sofi+stock&aqs... Founder's sexual misconduct: https://en.wikipedia.org/wiki/Mike_Cagney https://en.wikipedia.org/wiki/Mike_Cagney It is a known sales tactic to hook in customers betting that the hassle to switch later will keep them loyal. The 1.25% rate is if you set up direct deposit, with a $300 bonus. https://www.sofi.com/banking/ https://www.sofi.com/banking/ Don't be surprised if they lower the rate after the promotion time. Happened with HSBC w/ 5% APY before 2009 crisis, Robinhood and Marcus before covid.