SoFi and Samsung Create Samsung Money

"I saw a bank that said 24 hour banking, but I don't have that much time." - Steven Wright

If you own a Samsung Pay-enabled Galaxy device, you are going to be able to enjoy the benefits of a new mobile-first money management cash account that comes with with a Mastercard-branded debit card. Though they are not launching until later this summer, we thought you would want to know about it. What if it is so easy your dog will be able to do your banking for you?

Account Features

  • no account fees
  • rewards for saving
  • FDIC insured up to $1.5 million
  • Samsung Knox mobile security
  • an interest rate that will be higher than the national average
  • fee reimbursements to in-network ATMS totaling more than 55,000 across the USA
  • able to enroll in the Samsung Rewards program to earn points for every purchase you make using Samsung Pay

BONUS

Loyal Samsung Pay users with 1,000 or more points will be able to convert their points into cash and have the funds put into their Samsung Money by SoFi account


Finally, you will be able to monitor your transactions to ensure all activity is legit, freeze or unfreeze your card, change your PIN and more, all within the app.


Like we said, it is coming later this summer. We will let you know when it launches.