SoFi
#9 in Online Bank · Rated 4.1
U.S. online bank with broad financial services and IPO track
SoFi, founded in 2011, operates as a nationally chartered online bank through SoFi Bank, N.A. It offers fee‑free Checking and Savings, a broad ecosystem (credit cards, investing, lending, and insurance), and fintech features via a single app. In 2025 SoFi expanded with a premium membership—SoFi Plus—adding curated financial planning, rewards, and enhanced APY on savings, while continuing to pursue growth through crypto, fintech tooling, and partnerships. SoFi’s banking platform stands out for its integrated experience, wide product suite, and strong brand in the U.S. market, though it faces regulatory scrutiny in crypto and a competitive landscape with established incumbents and other neobanks.
Features
- No monthly fees on core Checking & Savings
- SoFi Invest and Credit Card integration
- SoFi Plus premium membership
- FDIC‑insured deposits via SoFi Bank
- Direct deposit and early access features
Pros
- One‑stop platform for banking, lending, investing
- Strong APY options on savings via promos
- Growing premium membership with extra value
Cons
- Crypto services subject to regulatory changes
- Some features depend on direct deposit and promo structures
- Not all services available in every state