Consumer Rights Wiki - User contributions [en]

SoFi Plus

2026-05-13T20:26:02Z

Tectix: Removed incidents template box and Products section

{{ProductLineCargo
|Company=SoFi
|ReleaseYear=2022
|InProduction=Yes
|ArticleType=Service
|Category=Financial services subscription
|Logo=Sofi plus logo.png
|Website=https://www.sofi.com/
|Description=SoFi Plus is an optional enhancement to SoFi's banking services. It offers increased APY interest, and other additional features to user's accounts.
}}

SoFi Plus is a service provided by SoFi for it's users to enhance certain banking features like an increased APY interest rate on savings accounts, a percentage match on certain deposits such as to investment accounts, and other features.<ref>{{Cite web |date=2026-05-13 |title=SoFi Plus: Premium Benefits, Member Interest Rates & Rewards |url=https://www.sofi.com/sofi-plus/ |url-status=live |access-date=2026-05-13 |website=SoFi Plus: Premium Benefits, Member Interest Rates & Rewards}}</ref>

SoFi started offering this SoFi Plus service in October of 2022, shortly after SoFi launched as a bank in February 2022.<ref>{{Cite web |date=2023-02-28 |title=SoFi Technologies, Inc. (SOFI) - A Year of Better Banking: SoFi Checking and Savings Turns One |url=https://investors.sofi.com/news/news-details/2023/A-Year-of-Better-Banking-SoFi-Checking-and-Savings-Turns-One/default.aspx |url-status=live |access-date=2026-05-13 |website=SoFi Technologies, Inc. (SOFI) - A Year of Better Banking: SoFi Checking and Savings Turns One}}</ref> SoFi banking customers originally received the SoFi Plus service benefits by creating a direct deposit into a qualifying SoFi account (such as a consumer savings account): The service launched with the following major features:<ref>https://web.archive.org/web/20221127221000/https://www.sofi.com/sofi-plus/</ref>

*3.00% APY on saving account balances, lower rates on others such 2.00% APY on checking account balances
*2x rewards points for qualifying activity
*0.25% rate discount on personal loans
*A welcome bonus contingent on direct deposit within a 25 day "Evaluation Period" and of a certain value threshold

The APY percentage value the SoFi Plus service offered changed frequently after launch. For instance on December 25, 2022, the APY for savings accounts was announced to have increased to 3.50%.<ref>https://web.archive.org/web/20221225183105/https://www.sofi.com/sofi-plus/</ref> SoFi customers receiving SoFi Plus benefits were offered a higher APY on account balances, typically around +1%, compared to those without SoFi Plus.

===SoFi Introduces A Fee for SoFi Plus for Non-Qualifying Customers===
On February 11, 2025, SoFi announced changes to the SoFi Plus plan: "SoFi members can unlock SoFi Plus for $10 a month or at no cost with direct deposit, no minimum balance required."<ref>https://investors.sofi.com/news/news-details/2025/SoFi-Plus-Premium-Membership-Now-Offers-1000-in-Annual-Value/default.aspx</ref><ref>https://www.gurufocus.com/news/2691181/sofi-technologies-inc-sofi-unveils-enhanced-benefits-for-sofi-plus-members</ref> This allowed banking customers to receive the SoFi Plus service features for a monthly fee. Other banking customers who qualified for the SoFi Plus service still received the service for free if they had direct deposit set up and met the monthly deposit value threshold.

===SoFi Removes Free Option for SoFi Plus Entirely===
On December 9, 2025 SoFi announced a new product, the SoFi Smart Card. Within that announcement, they indicated a change to SoFi Plus benefits that they then clarified through their official corporate Twitter account and an email to customers on December 10, 2026.<ref>https://x.com/SoFi/status/1998912343627984992</ref> Any new customers would immediately need to pay a fee to receive SoFi Plus benefits. Effective March 31, 2026, SoFi Plus would no longer have a free option, and all customers would be required to pay a $10 monthly fee to receive the SoFi Plus benefits: "Current member[sic] who get access to SoFi Plus via direct deposit or $5,000 in qualifying deposits will receive complimentary access to all SoFi Plus benefits through March 30, 2026 by maintaining eligible deposits."<ref name=":0">{{Cite web |last=Weidner |first=Noah |date=2026-04-28 |title=SoFi Bank shakes up membership, launches new charge card in sweeping change |url=https://www.thestreet.com/latest-news/sofi-bank-shakes-up-subscription-product-launches-new-charge-card-in-sweeping-change |access-date=2026-05-13 |website=Business, Financial News & Stock Market Analysis {{!}} TheStreet}}</ref>

==Consumer-impact summary==

*'''Business Model''' — SoFi Plus features were previously offered as a free benefit if customers qualified via direct deposit with a minimum deposit value threshold. Then, SoFi paywalled these features for everyone. The initial announcement of this change was indicated in a product launch announcement, followed up by an email to current customers the next day.

*'''Market Control / User Freedom''' — Customers who built their finances around SoFi (direct deposit, savings, credit card cashback rates, the new Smart Card) now face a situation described as "once 'free' features are now packaged up and sold for a monthly subscription fee" and "if you stop paying, ... you will lose access to that product".<ref name=":0" />

==Incidents==
===Paywall Announcement (''12/09/2025'')===
December 9, 2025 — SoFi announced a change to SoFi Plus benefits: new customers would be required to pay a $10 monthly fee to receive the SoFi Plus benefits. Current SoFi Plus members would continue to retain their SoFi Plus benefits until March 31, 2026.

===Paywall Grace Period Expiry (''03/31/2025'')===
March 31, 2026 — SoFi ends the grace period for members who were receiving and maintained qualification for SoFi Plus before the December 9, 2025 announcement. Applying the fee to all customers if they desired to receive SoFi Plus benefits.

==See also==
{{Ph-C-SA}}

==References==
{{reflist}}

[[Category:{{PAGENAME}}]]

SoFi Plus

2026-05-13T20:25:10Z

Tectix: Added incidents to incidents section & added sub-heads to body

{{ProductLineCargo
|Company=SoFi
|ReleaseYear=2022
|InProduction=Yes
|ArticleType=Service
|Category=Financial services subscription
|Logo=Sofi plus logo.png
|Website=https://www.sofi.com/
|Description=SoFi Plus is an optional enhancement to SoFi's banking services. It offers increased APY interest, and other additional features to user's accounts.
}}

SoFi Plus is a service provided by SoFi for it's users to enhance certain banking features like an increased APY interest rate on savings accounts, a percentage match on certain deposits such as to investment accounts, and other features.<ref>{{Cite web |date=2026-05-13 |title=SoFi Plus: Premium Benefits, Member Interest Rates & Rewards |url=https://www.sofi.com/sofi-plus/ |url-status=live |access-date=2026-05-13 |website=SoFi Plus: Premium Benefits, Member Interest Rates & Rewards}}</ref>

SoFi started offering this SoFi Plus service in October of 2022, shortly after SoFi launched as a bank in February 2022.<ref>{{Cite web |date=2023-02-28 |title=SoFi Technologies, Inc. (SOFI) - A Year of Better Banking: SoFi Checking and Savings Turns One |url=https://investors.sofi.com/news/news-details/2023/A-Year-of-Better-Banking-SoFi-Checking-and-Savings-Turns-One/default.aspx |url-status=live |access-date=2026-05-13 |website=SoFi Technologies, Inc. (SOFI) - A Year of Better Banking: SoFi Checking and Savings Turns One}}</ref> SoFi banking customers originally received the SoFi Plus service benefits by creating a direct deposit into a qualifying SoFi account (such as a consumer savings account): The service launched with the following major features:<ref>https://web.archive.org/web/20221127221000/https://www.sofi.com/sofi-plus/</ref>

*3.00% APY on saving account balances, lower rates on others such 2.00% APY on checking account balances
*2x rewards points for qualifying activity
*0.25% rate discount on personal loans
*A welcome bonus contingent on direct deposit within a 25 day "Evaluation Period" and of a certain value threshold

The APY percentage value the SoFi Plus service offered changed frequently after launch. For instance on December 25, 2022, the APY for savings accounts was announced to have increased to 3.50%.<ref>https://web.archive.org/web/20221225183105/https://www.sofi.com/sofi-plus/</ref> SoFi customers receiving SoFi Plus benefits were offered a higher APY on account balances, typically around +1%, compared to those without SoFi Plus.

=== SoFi Introduces A Fee for SoFi Plus for Non-Qualifying Customers ===
On February 11, 2025, SoFi announced changes to the SoFi Plus plan: "SoFi members can unlock SoFi Plus for $10 a month or at no cost with direct deposit, no minimum balance required."<ref>https://investors.sofi.com/news/news-details/2025/SoFi-Plus-Premium-Membership-Now-Offers-1000-in-Annual-Value/default.aspx</ref><ref>https://www.gurufocus.com/news/2691181/sofi-technologies-inc-sofi-unveils-enhanced-benefits-for-sofi-plus-members</ref> This allowed banking customers to receive the SoFi Plus service features for a monthly fee. Other banking customers who qualified for the SoFi Plus service still received the service for free if they had direct deposit set up and met the monthly deposit value threshold.

=== SoFi Removes Free Option for SoFi Plus Entirely ===
On December 9, 2025 SoFi announced a new product, the SoFi Smart Card. Within that announcement, they indicated a change to SoFi Plus benefits that they then clarified through their official corporate Twitter account and an email to customers on December 10, 2026.<ref>https://x.com/SoFi/status/1998912343627984992</ref> Any new customers would immediately need to pay a fee to receive SoFi Plus benefits. Effective March 31, 2026, SoFi Plus would no longer have a free option, and all customers would be required to pay a $10 monthly fee to receive the SoFi Plus benefits: "Current member[sic] who get access to SoFi Plus via direct deposit or $5,000 in qualifying deposits will receive complimentary access to all SoFi Plus benefits through March 30, 2026 by maintaining eligible deposits."<ref name=":0">{{Cite web |last=Weidner |first=Noah |date=2026-04-28 |title=SoFi Bank shakes up membership, launches new charge card in sweeping change |url=https://www.thestreet.com/latest-news/sofi-bank-shakes-up-subscription-product-launches-new-charge-card-in-sweeping-change |access-date=2026-05-13 |website=Business, Financial News & Stock Market Analysis {{!}} TheStreet}}</ref>

==Consumer-impact summary==

*'''Business Model''' — SoFi Plus features were previously offered as a free benefit if customers qualified via direct deposit with a minimum deposit value threshold. Then, SoFi paywalled these features for everyone. The initial announcement of this change was indicated in a product launch announcement, followed up by an email to current customers the next day.

*'''Market Control / User Freedom''' — Customers who built their finances around SoFi (direct deposit, savings, credit card cashback rates, the new Smart Card) now face a situation described as "once 'free' features are now packaged up and sold for a monthly subscription fee" and "if you stop paying, ... you will lose access to that product".<ref name=":0" />

==Incidents==
{{Ph-C-Inc}}
This is a list of all consumer-protection incidents related to this product line. Any incidents not mentioned here can be found in the [[:Category:{{PAGENAME}}|{{PAGENAME}} category]].
===Paywall Announcement (''12/09/2025'')===
December 9, 2025 — SoFi announced a change to SoFi Plus benefits: new customers would be required to pay a $10 monthly fee to receive the SoFi Plus benefits. Current SoFi Plus members would continue to retain their SoFi Plus benefits until March 31, 2026.

===Paywall Grace Period Expiry (''03/31/2025'')===
March 31, 2026 — SoFi ends the grace period for members who were receiving and maintained qualification for SoFi Plus before the December 9, 2025 announcement. Applying the fee to all customers if they desired to receive SoFi Plus benefits.

==Products==
{{Ph-C-P}}

==See also==
{{Ph-C-SA}}

==References==
{{reflist}}

[[Category:{{PAGENAME}}]]

SoFi Plus

2026-05-13T20:10:34Z

Tectix: updated wording and citation in consumer impact section

{{ProductLineCargo
|Company=SoFi
|ReleaseYear=2022
|InProduction=Yes
|ArticleType=Service
|Category=Financial services subscription
|Logo=Sofi plus logo.png
|Website=https://www.sofi.com/
|Description=SoFi Plus is an optional enhancement to SoFi's banking services. It offers increased APY interest, and other additional features to user's accounts.
}}

SoFi Plus is a service provided by SoFi for it's users to enhance certain banking features like an increased APY interest rate on savings accounts, a percentage match on certain deposits such as to investment accounts, and other features.<ref>{{Cite web |date=2026-05-13 |title=SoFi Plus: Premium Benefits, Member Interest Rates & Rewards |url=https://www.sofi.com/sofi-plus/ |url-status=live |access-date=2026-05-13 |website=SoFi Plus: Premium Benefits, Member Interest Rates & Rewards}}</ref>

SoFi started offering this SoFi Plus service in October of 2022, shortly after SoFi launched as a bank in February 2022.<ref>{{Cite web |date=2023-02-28 |title=SoFi Technologies, Inc. (SOFI) - A Year of Better Banking: SoFi Checking and Savings Turns One |url=https://investors.sofi.com/news/news-details/2023/A-Year-of-Better-Banking-SoFi-Checking-and-Savings-Turns-One/default.aspx |url-status=live |access-date=2026-05-13 |website=SoFi Technologies, Inc. (SOFI) - A Year of Better Banking: SoFi Checking and Savings Turns One}}</ref> SoFi banking customers originally received the SoFi Plus service benefits by creating a direct deposit into a qualifying SoFi account (such as a consumer savings account): The service launched with the following major features:<ref>https://web.archive.org/web/20221127221000/https://www.sofi.com/sofi-plus/</ref>

*3.00% APY on saving account balances, lower rates on others such 2.00% APY on checking account balances
*2x rewards points for qualifying activity
*0.25% rate discount on personal loans
*A welcome bonus contingent on direct deposit within a 25 day "Evaluation Period" and of a certain value threshold

The APY percentage value the SoFi Plus service offered changed frequently after launch. For instance on December 25, 2022, the APY for savings accounts was announced to have increased to 3.50%.<ref>https://web.archive.org/web/20221225183105/https://www.sofi.com/sofi-plus/</ref> SoFi customers receiving SoFi Plus benefits were offered a higher APY on account balances, typically around +1%, compared to those without SoFi Plus.

On February 11, 2025, SoFi announced changes to the SoFi Plus plan: "SoFi members can unlock SoFi Plus for $10 a month or at no cost with direct deposit, no minimum balance required."<ref>https://investors.sofi.com/news/news-details/2025/SoFi-Plus-Premium-Membership-Now-Offers-1000-in-Annual-Value/default.aspx</ref><ref>https://www.gurufocus.com/news/2691181/sofi-technologies-inc-sofi-unveils-enhanced-benefits-for-sofi-plus-members</ref> This allowed banking customers to receive the SoFi Plus service features for a monthly fee. Other banking customers who qualified for the SoFi Plus service still received the service for free if they had direct deposit set up and met the monthly deposit value threshold.

On December 9, 2025 SoFi announced a new product, the SoFi Smart Card. Within that announcement, they indicated a change to SoFi Plus benefits that they then clarified through their official corporate Twitter account and an email to customers on December 10, 2026.<ref>https://x.com/SoFi/status/1998912343627984992</ref> Any new customers would immediately need to pay a few to receive SoFi Plus benefits. Effective March 31, 2026, SoFi Plus would no longer have a free option, and all customers would be required to pay a $10 monthly fee to receive the SoFi Plus benefits: "Current member[sic] who get access to SoFi Plus via direct deposit or $5,000 in qualifying deposits will receive complimentary access to all SoFi Plus benefits through March 30, 2026 by maintaining eligible deposits."<ref name=":0">{{Cite web |last=Weidner |first=Noah |date=2026-04-28 |title=SoFi Bank shakes up membership, launches new charge card in sweeping change |url=https://www.thestreet.com/latest-news/sofi-bank-shakes-up-subscription-product-launches-new-charge-card-in-sweeping-change |access-date=2026-05-13 |website=Business, Financial News & Stock Market Analysis {{!}} TheStreet}}</ref>

==Consumer-impact summary==

*'''Business Model''' — SoFi Plus features were previously offered as a free benefit if customers qualified via direct deposit with a minimum deposit value threshold. Then, SoFi paywalled these features for everyone. The initial announcement of this change was indicated in a product launch announcement, followed up by an email to current customers the next day.

*'''Market Control / User Freedom''' — Customers who built their finances around SoFi (direct deposit, savings, credit card cashback rates, the new Smart Card) now face a situation described as "once 'free' features are now packaged up and sold for a monthly subscription fee" and "if you stop paying, ... you will lose access to that product".<ref name=":0" />

==Incidents==
{{Ph-C-Inc}}
This is a list of all consumer-protection incidents related to this product line. Any incidents not mentioned here can be found in the [[:Category:{{PAGENAME}}|{{PAGENAME}} category]].
===Example incident one (''date'')===
{{Main|link to the main CR Wiki article}}
Short summary of the incident (could be the same as the summary preceding the article).
===Example incident two (''date'')===
...

==Products==
{{Ph-C-P}}

==See also==
{{Ph-C-SA}}

==References==
{{reflist}}

[[Category:{{PAGENAME}}]]

SoFi Plus

2026-05-13T19:55:41Z

Tectix: Updated source date

{{ProductLineCargo
|Company=SoFi
|ReleaseYear=2022
|InProduction=Yes
|ArticleType=Service
|Category=Financial services subscription
|Logo=Sofi plus logo.png
|Website=https://www.sofi.com/
|Description=SoFi Plus is an optional enhancement to SoFi's banking services. It offers increased APY interest, and other additional features to user's accounts.
}}

SoFi Plus is a service provided by SoFi for it's users to enhance certain banking features like an increased APY interest rate on savings accounts, a percentage match on certain deposits such as to investment accounts, and other features.<ref>{{Cite web |date=2026-05-13 |title=SoFi Plus: Premium Benefits, Member Interest Rates & Rewards |url=https://www.sofi.com/sofi-plus/ |url-status=live |access-date=2026-05-13 |website=SoFi Plus: Premium Benefits, Member Interest Rates & Rewards}}</ref>

SoFi started offering this SoFi Plus service in October of 2022, shortly after SoFi launched as a bank in February 2022.<ref>{{Cite web |date=2023-02-28 |title=SoFi Technologies, Inc. (SOFI) - A Year of Better Banking: SoFi Checking and Savings Turns One |url=https://investors.sofi.com/news/news-details/2023/A-Year-of-Better-Banking-SoFi-Checking-and-Savings-Turns-One/default.aspx |url-status=live |access-date=2026-05-13 |website=SoFi Technologies, Inc. (SOFI) - A Year of Better Banking: SoFi Checking and Savings Turns One}}</ref> SoFi banking customers originally received the SoFi Plus service benefits by creating a direct deposit into a qualifying SoFi account (such as a consumer savings account): The service launched with the following major features:<ref>https://web.archive.org/web/20221127221000/https://www.sofi.com/sofi-plus/</ref>

*3.00% APY on saving account balances, lower rates on others such 2.00% APY on checking account balances
*2x rewards points for qualifying activity
*0.25% rate discount on personal loans
*A welcome bonus contingent on direct deposit within a 25 day "Evaluation Period" and of a certain value threshold

The APY percentage value the SoFi Plus service offered changed frequently after launch. For instance on December 25, 2022, the APY for savings accounts was announced to have increased to 3.50%.<ref>https://web.archive.org/web/20221225183105/https://www.sofi.com/sofi-plus/</ref> SoFi customers receiving SoFi Plus benefits were offered a higher APY on account balances, typically around +1%, compared to those without SoFi Plus.

On February 11, 2025, SoFi announced changes to the SoFi Plus plan: "SoFi members can unlock SoFi Plus for $10 a month or at no cost with direct deposit, no minimum balance required."<ref>https://investors.sofi.com/news/news-details/2025/SoFi-Plus-Premium-Membership-Now-Offers-1000-in-Annual-Value/default.aspx</ref><ref>https://www.gurufocus.com/news/2691181/sofi-technologies-inc-sofi-unveils-enhanced-benefits-for-sofi-plus-members</ref> This allowed banking customers to receive the SoFi Plus service features for a monthly fee. Other banking customers who qualified for the SoFi Plus service still received the service for free if they had direct deposit set up and met the monthly deposit value threshold.

On December 9, 2025 SoFi announced a new product, the SoFi Smart Card. Within that announcement, they indicated a change to SoFi Plus benefits that they then clarified through their official corporate Twitter account and an email to customers on December 10, 2026.<ref>https://x.com/SoFi/status/1998912343627984992</ref> Any new customers would immediately need to pay a few to receive SoFi Plus benefits. Effective March 31, 2026, SoFi Plus would no longer have a free option, and all customers would be required to pay a $10 monthly fee to receive the SoFi Plus benefits: "Current member[sic] who get access to SoFi Plus via direct deposit or $5,000 in qualifying deposits will receive complimentary access to all SoFi Plus benefits through March 30, 2026 by maintaining eligible deposits."<ref>https://www.thestreet.com/latest-news/sofi-bank-shakes-up-subscription-product-launches-new-charge-card-in-sweeping-change</ref>

==Consumer-impact summary==

*'''Business Model''' — SoFi Plus features were previously offered as a free benefit if customers qualified via direct deposit with a minimum deposit value threshold. Then, SoFi paywalled these features for everyone. The initial announcement of this change was buried in a product launch announcement, followed up by an email to current customers the next day.

*'''Market Control / User Freedom''' — Customers who built their finances around SoFi (direct deposit, savings, credit card cashback rates, the new Smart Card) now face a "pay or lose features you previously had" choice.

==Incidents==
{{Ph-C-Inc}}
This is a list of all consumer-protection incidents related to this product line. Any incidents not mentioned here can be found in the [[:Category:{{PAGENAME}}|{{PAGENAME}} category]].
===Example incident one (''date'')===
{{Main|link to the main CR Wiki article}}
Short summary of the incident (could be the same as the summary preceding the article).
===Example incident two (''date'')===
...

==Products==
{{Ph-C-P}}

==See also==
{{Ph-C-SA}}

==References==
{{reflist}}

[[Category:{{PAGENAME}}]]

SoFi Plus

2026-05-13T19:52:19Z

Tectix: /* Consumer-impact summary */

{{ProductLineCargo
|Company=SoFi
|ReleaseYear=2022
|InProduction=Yes
|ArticleType=Service
|Category=Financial services subscription
|Logo=Sofi plus logo.png
|Website=https://www.sofi.com/
|Description=SoFi Plus is an optional enhancement to SoFi's banking services. It offers increased APY interest, and other additional features to user's accounts.
}}

SoFi Plus is a service provided by SoFi for it's users to enhance certain banking features like an increased APY interest rate on savings accounts, a percentage match on certain deposits such as to investment accounts, and other features.<ref>{{Cite web |date=2026-05-13 |title=SoFi Plus: Premium Benefits, Member Interest Rates & Rewards |url=https://www.sofi.com/sofi-plus/ |url-status=live |access-date=2026-05-13 |website=SoFi Plus: Premium Benefits, Member Interest Rates & Rewards}}</ref>

SoFi started offering this SoFi Plus service in October of 2022, shortly after SoFi launched as a bank in February 2022.<ref>{{Cite web |date=2026-05-13 |title=SoFi Technologies, Inc. (SOFI) - A Year of Better Banking: SoFi Checking and Savings Turns One |url=https://investors.sofi.com/news/news-details/2023/A-Year-of-Better-Banking-SoFi-Checking-and-Savings-Turns-One/default.aspx |url-status=live |access-date=2026-05-13 |website=SoFi Technologies, Inc. (SOFI) - A Year of Better Banking: SoFi Checking and Savings Turns One}}</ref> SoFi banking customers originally received the SoFi Plus service benefits by creating a direct deposit into a qualifying SoFi account (such as a consumer savings account): The service launched with the following major features:<ref>https://web.archive.org/web/20221127221000/https://www.sofi.com/sofi-plus/</ref>

*3.00% APY on saving account balances, lower rates on others such 2.00% APY on checking account balances
*2x rewards points for qualifying activity
*0.25% rate discount on personal loans
*A welcome bonus contingent on direct deposit within a 25 day "Evaluation Period" and of a certain value threshold

The APY percentage value the SoFi Plus service offered changed frequently after launch. For instance on December 25, 2022, the APY for savings accounts was announced to have increased to 3.50%.<ref>https://web.archive.org/web/20221225183105/https://www.sofi.com/sofi-plus/</ref> SoFi customers receiving SoFi Plus benefits were offered a higher APY on account balances, typically around +1%, compared to those without SoFi Plus.

On February 11, 2025, SoFi announced changes to the SoFi Plus plan: "SoFi members can unlock SoFi Plus for $10 a month or at no cost with direct deposit, no minimum balance required."<ref>https://investors.sofi.com/news/news-details/2025/SoFi-Plus-Premium-Membership-Now-Offers-1000-in-Annual-Value/default.aspx</ref><ref>https://www.gurufocus.com/news/2691181/sofi-technologies-inc-sofi-unveils-enhanced-benefits-for-sofi-plus-members</ref> This allowed banking customers to receive the SoFi Plus service features for a monthly fee. Other banking customers who qualified for the SoFi Plus service still received the service for free if they had direct deposit set up and met the monthly deposit value threshold.

On December 9, 2025 SoFi announced a new product, the SoFi Smart Card. Within that announcement, they indicated a change to SoFi Plus benefits that they then clarified through their official corporate Twitter account and an email to customers on December 10, 2026.<ref>https://x.com/SoFi/status/1998912343627984992</ref> Any new customers would immediately need to pay a few to receive SoFi Plus benefits. Effective March 31, 2026, SoFi Plus would no longer have a free option, and all customers would be required to pay a $10 monthly fee to receive the SoFi Plus benefits: "Current member[sic] who get access to SoFi Plus via direct deposit or $5,000 in qualifying deposits will receive complimentary access to all SoFi Plus benefits through March 30, 2026 by maintaining eligible deposits."<ref>https://www.thestreet.com/latest-news/sofi-bank-shakes-up-subscription-product-launches-new-charge-card-in-sweeping-change</ref>

==Consumer-impact summary==

* '''Business Model''' — SoFi Plus features were previously offered as a free benefit if customers qualified via direct deposit with a minimum deposit value threshold. Then, SoFi paywalled these features for everyone. The initial announcement of this change was buried in a product launch announcement, followed up by an email to current customers the next day.

* '''Market Control / User Freedom''' — Customers who built their finances around SoFi (direct deposit, savings, credit card cashback rates, the new Smart Card) now face a "pay or lose features you previously had" choice.

==Incidents==
{{Ph-C-Inc}}
This is a list of all consumer-protection incidents related to this product line. Any incidents not mentioned here can be found in the [[:Category:{{PAGENAME}}|{{PAGENAME}} category]].
===Example incident one (''date'')===
{{Main|link to the main CR Wiki article}}
Short summary of the incident (could be the same as the summary preceding the article).
===Example incident two (''date'')===
...

==Products==
{{Ph-C-P}}

==See also==
{{Ph-C-SA}}

==References==
{{reflist}}

[[Category:{{PAGENAME}}]]

SoFi Plus

2026-05-13T19:30:48Z

Tectix: removed the first template block

{{ProductLineCargo
|Company=SoFi
|ReleaseYear=2022
|InProduction=Yes
|ArticleType=Service
|Category=Banking
|Logo=Sofi plus logo.png
|Website=https://www.sofi.com/
|Description=SoFi Plus is an optional enhancement to SoFi's banking services. It offers increased APY interest, and other additional features to user's accounts.
}}SoFi Plus is a service provided by SoFi for it's users to enhance certain banking features like an increased APY interest rate on savings accounts, a percentage match on certain deposits such as to investment accounts, and other features.<ref>{{Cite web |date=2026-05-13 |title=SoFi Plus: Premium Benefits, Member Interest Rates & Rewards |url=https://www.sofi.com/sofi-plus/ |url-status=live |access-date=2026-05-13 |website=SoFi Plus: Premium Benefits, Member Interest Rates & Rewards}}</ref>

SoFi started offering this SoFi Plus service in October of 2022, shortly after SoFi launched as a bank in February 2022.<ref>{{Cite web |date=2026-05-13 |title=SoFi Technologies, Inc. (SOFI) - A Year of Better Banking: SoFi Checking and Savings Turns One |url=https://investors.sofi.com/news/news-details/2023/A-Year-of-Better-Banking-SoFi-Checking-and-Savings-Turns-One/default.aspx |url-status=live |access-date=2026-05-13 |website=SoFi Technologies, Inc. (SOFI) - A Year of Better Banking: SoFi Checking and Savings Turns One}}</ref> SoFi banking customers originally received the SoFi Plus service benefits by creating a direct deposit into a qualifying SoFi account (such as a consumer savings account): The service launched with the following major features:<ref>https://web.archive.org/web/20221127221000/https://www.sofi.com/sofi-plus/</ref>

*3.00% APY on saving account balances, lower rates on others such 2.00% APY on checking account balances
*2x rewards points for qualifying activity
*0.25% rate discount on personal loans
*A welcome bonus contingent on direct deposit within a 25 day "Evaluation Period" and of a certain value threshold

The APY percentage value the SoFi Plus service offered changed frequently after launch. For instance on December 25, 2022, the APY for savings accounts was increased to 3.50%.<ref>https://web.archive.org/web/20221225183105/https://www.sofi.com/sofi-plus/</ref>

On February 11, 2025, SoFi announced changes to the SoFi Plus plan: "SoFi members can unlock SoFi Plus for $10 a month or at no cost with direct deposit, no minimum balance required."<ref>https://investors.sofi.com/news/news-details/2025/SoFi-Plus-Premium-Membership-Now-Offers-1000-in-Annual-Value/default.aspx</ref><ref>https://www.gurufocus.com/news/2691181/sofi-technologies-inc-sofi-unveils-enhanced-benefits-for-sofi-plus-members</ref> This allowed banking customers to receive the SoFi Plus service features for a monthly fee. Other banking customers who qualified for the SoFi Plus service still received the service for free if they had direct deposit set up and met the monthly deposit value threshold.

On December 9, 2025 SoFi announced a new product, the SoFi Smart Card. In that announcement, they mentioned a change to SoFi Plus benefits that they then clarified through their official corporate Twitter account.<ref>https://x.com/SoFi/status/1998912343627984992</ref> Effective March 31, 2026, SoFi Plus would no longer have a free option, and all customers would be required to pay a $10 monthly fee to receive the SoFi Plus benefits: "Current member[sic] who get access to SoFi Plus via direct deposit or $5,000 in qualifying deposits will receive complimentary access to all SoFi Plus benefits through March 30, 2026 by maintaining eligible deposits."<ref>https://www.thestreet.com/latest-news/sofi-bank-shakes-up-subscription-product-launches-new-charge-card-in-sweeping-change</ref>
==Consumer-impact summary==
{{Ph-C-CIS}}

==Incidents==
{{Ph-C-Inc}}
This is a list of all consumer-protection incidents related to this product line. Any incidents not mentioned here can be found in the [[:Category:{{PAGENAME}}|{{PAGENAME}} category]].
===Example incident one (''date'')===
{{Main|link to the main CR Wiki article}}
Short summary of the incident (could be the same as the summary preceding the article).
===Example incident two (''date'')===
...

==Products==
{{Ph-C-P}}

==See also==
{{Ph-C-SA}}

==References==
{{reflist}}

[[Category:{{PAGENAME}}]]

SoFi Plus

2026-05-13T19:30:32Z

Tectix: Described the issues related to changes in the terms for SoFi Plus and added more details and sources

{{ProductLineCargo
|Company=SoFi
|ReleaseYear=2022
|InProduction=Yes
|ArticleType=Service
|Category=Banking
|Logo=Sofi plus logo.png
|Website=https://www.sofi.com/
|Description=SoFi Plus is an optional enhancement to SoFi's banking services. It offers increased APY interest, and other additional features to user's accounts.
}}SoFi Plus is a service provided by SoFi for it's users to enhance certain banking features like an increased APY interest rate on savings accounts, a percentage match on certain deposits such as to investment accounts, and other features.<ref>{{Cite web |date=2026-05-13 |title=SoFi Plus: Premium Benefits, Member Interest Rates & Rewards |url=https://www.sofi.com/sofi-plus/ |url-status=live |access-date=2026-05-13 |website=SoFi Plus: Premium Benefits, Member Interest Rates & Rewards}}</ref>

SoFi started offering this SoFi Plus service in October of 2022, shortly after SoFi launched as a bank in February 2022.<ref>{{Cite web |date=2026-05-13 |title=SoFi Technologies, Inc. (SOFI) - A Year of Better Banking: SoFi Checking and Savings Turns One |url=https://investors.sofi.com/news/news-details/2023/A-Year-of-Better-Banking-SoFi-Checking-and-Savings-Turns-One/default.aspx |url-status=live |access-date=2026-05-13 |website=SoFi Technologies, Inc. (SOFI) - A Year of Better Banking: SoFi Checking and Savings Turns One}}</ref> SoFi banking customers originally received the SoFi Plus service benefits by creating a direct deposit into a qualifying SoFi account (such as a consumer savings account): The service launched with the following major features:<ref>https://web.archive.org/web/20221127221000/https://www.sofi.com/sofi-plus/</ref>

* 3.00% APY on saving account balances, lower rates on others such 2.00% APY on checking account balances
* 2x rewards points for qualifying activity
* 0.25% rate discount on personal loans
* A welcome bonus contingent on direct deposit within a 25 day "Evaluation Period" and of a certain value threshold

The APY percentage value the SoFi Plus service offered changed frequently after launch. For instance on December 25, 2022, the APY for savings accounts was increased to 3.50%.<ref>https://web.archive.org/web/20221225183105/https://www.sofi.com/sofi-plus/</ref>

On February 11, 2025, SoFi announced changes to the SoFi Plus plan: "SoFi members can unlock SoFi Plus for $10 a month or at no cost with direct deposit, no minimum balance required."<ref>https://investors.sofi.com/news/news-details/2025/SoFi-Plus-Premium-Membership-Now-Offers-1000-in-Annual-Value/default.aspx</ref><ref>https://www.gurufocus.com/news/2691181/sofi-technologies-inc-sofi-unveils-enhanced-benefits-for-sofi-plus-members</ref> This allowed banking customers to receive the SoFi Plus service features for a monthly fee. Other banking customers who qualified for the SoFi Plus service still received the service for free if they had direct deposit set up and met the monthly deposit value threshold.

On December 9, 2025 SoFi announced a new product, the SoFi Smart Card. In that announcement, they mentioned a change to SoFi Plus benefits that they then clarified through their official corporate Twitter account.<ref>https://x.com/SoFi/status/1998912343627984992</ref> Effective March 31, 2026, SoFi Plus would no longer have a free option, and all customers would be required to pay a $10 monthly fee to receive the SoFi Plus benefits: "Current member[sic] who get access to SoFi Plus via direct deposit or $5,000 in qualifying deposits will receive complimentary access to all SoFi Plus benefits through March 30, 2026 by maintaining eligible deposits."<ref>https://www.thestreet.com/latest-news/sofi-bank-shakes-up-subscription-product-launches-new-charge-card-in-sweeping-change</ref>{{Ph-C-Int}}

==Consumer-impact summary==
{{Ph-C-CIS}}

==Incidents==
{{Ph-C-Inc}}
This is a list of all consumer-protection incidents related to this product line. Any incidents not mentioned here can be found in the [[:Category:{{PAGENAME}}|{{PAGENAME}} category]].
===Example incident one (''date'')===
{{Main|link to the main CR Wiki article}}
Short summary of the incident (could be the same as the summary preceding the article).
===Example incident two (''date'')===
...

==Products==
{{Ph-C-P}}

==See also==
{{Ph-C-SA}}

==References==
{{reflist}}

[[Category:{{PAGENAME}}]]

SoFi Plus

2026-05-13T16:25:44Z

Tectix: Created SoFi Plus page and added relevant details.

File:Sofi plus logo.png

2026-05-13T16:23:04Z

Tectix: Logo of SoFi Plus Service

== Summary ==
Logo of SoFi Plus Service
== Licensing ==
{{Stolen}}