Comments on: SoFi Money Review: Mobile Banking And Savings

By: Robert Farrington

Robert Farrington — Tue, 05 Nov 2019 17:51:01 +0000

In reply to Noris. No, banks close all the time. It may be a slight inconvenience for a few hours, but we've never heard of anyone struggle to get money out of a bank when they close. Note: about 10-20 banks go under every year nationwide.

By: Noris

Noris — Tue, 05 Nov 2019 16:35:03 +0000

Somebody asked: If SoFi were to file bankruptcy, would it be a struggle for me to get my funds from all these different banks?
I would like to know the answer to that question.
Thanks.

By: Robert Farrington

Robert Farrington — Thu, 27 Jun 2019 19:04:06 +0000

In reply to Desmond Louis.

Read this: https://www.sofi.com/money/limits

By: Desmond Louis

Desmond Louis — Thu, 27 Jun 2019 18:22:01 +0000

Couldn’t find their ACH limit, how much allowed each time and how many times allowed per certain period (day/mon), and differences if any between Inbound and outbound etc.

By: Robert Farrington

Robert Farrington — Wed, 22 May 2019 15:38:33 +0000

In reply to Brian.

If you’re doing the payment from your credit card side, you’re going to be limited to the lower amount of $3,000 (it’s considered a withdrawal/transfer).

Note: you should always push money, not pull money. It’s better to push money you of your checking account (whether SoFi or another bank) via BillPay than it is to pull money (from a card). The risk works in your favor that you won’t overdraw, etc.