SoFi Vaults // How to use SoFi Vaults

Подписаться 10 тыс.

Просмотров 10 тыс.

50% 1

Create SoFi Account (with bonus): bit.ly/3OqZNnR
SoFi is now 4.50% (as of August 2023)
SoFi is an online bank with an amazing savings feature. They let you use up to 20 vaults to separate your money while earning high interest! Check out how to use it.
Ally Buckets: • Ally Buckets and Boost...
0:00 Start
1:00 How to create SoFi vaults
2:25 How to automate savings with SoFi vaults
3:35 How to save a percentage with SoFi vaults
4:18 How to setup recurring transfers with SoFi vaults
6:18 SoFi sign up bonus
6:38 SoFi round up feature
7:22 SoFi vault goals/progress
7:56 SoFi direct deposit
8:38 How to transfer money out of SoFi vaults
9:15 Cons of SoFi
🎥🎥 Video Links
* 50 Frugal Living Tips: • 50 frugal living tips
* Easy Cash Back with Ibotta: • How to use IBOTTA // I...
* An Alternative to Cash Envelopes: • An Alternative to Dave...
* How to do a Spending Freeze: • Spending Freeze
💵💵 Money Saving Tools
* 101 Ways to Save Money: bit.ly/tosavethousands
* Cash back with Ibotta (bonus up to $20): bit.ly/ibottaaccount
* Cash back with Rakuten (Bonus of $30): bit.ly/rakutenaccount
* Cash Back with Fetch (bonus $2): bit.ly/fetchcashback
* Earn money/Cash back with Shopkick (bonus $1): bit.ly/shopkickbonus
❤ Thanks for watching. Subscribe to my channel here: bit.ly/brittanyflammeryoutube
💸💸 Budgeting Tools
* Net Worth Tracker: www.etsy.com/listing/95472982...
* Printable Savings Charts: www.etsy.com/listing/94716716...
* Printable Debt Charts: www.etsy.com/listing/96361725...
Let’s Connect
IG: @brittanyflammer
FB: BrittanyFlammerBudgeting
Email: brittanyflammer@gmail.com
Website: brittanyflammer.com/
📢 DISCLAIMER:
Many of the links above are affiliate links where I will make a small commission if you make a purchase. It does NOT cost you anything. It is a way of supporting my channel so I'm able to continue to make free content for you each week. Thanks for your support!
📢 FINANCIAL DISCLAIMER:
I am not a financial advisor and the content of this video does not serve as financial advice. Please consult a financial professional before making personal decisions regarding your finances.
Video Link: • SoFi Vaults // How to ...

Развлечения

Опубликовано:

30 июл 2024

Ссылка:

Скачать:

Готовим ссылку...

Добавить в:

Мой плейлист

Посмотреть позже

Комментарии : 33

@KEYBEATZ 4 месяца назад

I am not sponsored by Sofi bank nor am I a company shill. I am a real customer, and I must say that this is an awesome online bank so far!

@BrittanyFlammer 4 месяца назад

Yes! Same here. Thanks for sharing your personal experience!

@CallowXayne 4 месяца назад

Thanks, I mainly switched to SoFi for the Round Up feature and was looking into how to get it working.

@BrittanyFlammer 4 месяца назад

Sure thing. I hope you got it figured out and are liking it.

@sippininthekitchen2208 Год назад

Thank you so much for this video. Does Sofi have a monthly limit on how many withdrawals you can make per month out of vaults?

@BrittanyFlammer Год назад

Great question. Most online savings accounts still limit you to 6 withdrawals per month. However, SoFi has unlimited withdrawals from checking and savings. Wohoo!!! Here's a link with more about it: support.sofi.com/hc/en-us/articles/14242974933645-What-are-the-Checking-Savings-transfer-and-withdrawal-limits-

@sippininthekitchen2208 Год назад

@@BrittanyFlammer Thank you again Brittany. This is great to know and helped a lot 😁

@BrittanyFlammer Год назад

I’m so glad. If you have any other questions, let me know

@KEYBEATZ 4 месяца назад

@@BrittanyFlammerI believe the six withdrawal limit per month for savings accounts is a US federal law It may have changed as of 2022

@BrittanyFlammer 4 месяца назад

@@KEYBEATZ Yes - you are right on all accounts. The federal law did change, so it's no longer required. Many banks still stick with the 6 withdrawal limit, but SoFi doesn't!

@houli09 9 месяцев назад

SoFi is awesome!

@BrittanyFlammer 9 месяцев назад

I’ve been really happy with it!

@samolina21 11 месяцев назад

When I go into my savings portion of the banking page, I don't have the option of adding vaults. Where your button for "add vault" is, there is just "more".

@BrittanyFlammer 11 месяцев назад

Hmm....I just double checked on my computer and my phone to see if any changes had been made. When I login on the computer it gives me the options to transfer, add vault, or more. On the phone it has the options of deposit money, transfer, add vault, or more. I'm not sure why it wouldn't be working for you. Here are the instructions from the SoFi help center: support.sofi.com/hc/en-us/articles/360056588751-Emergency-Fund-Vault-Mobile-app- Try that and let me know if it works. If not, I'm thinking contacting SoFi would be the next step?

@jayroman881 Год назад

Do I have to setup direct deposit to my savings or can i split my check that goes into my checkings to get the 4.2%?

@BrittanyFlammer Год назад

I only have direct deposit into my sofi checking and that qualifies me for the higher interest rate.

@SilverAura Год назад

According to their terms of service, there's also no minimum deposit amount necessary to get the higher interest rate, unlike the normal requirement of $1000 to qualify for the $50 fee-free overdraft coverage. 🙂

@Snoopi.7 9 месяцев назад

SoFi is awesome new member here but I find it odd we cannot setup a reoccurring weekly transfer to my savings account from checking

@BrittanyFlammer 9 месяцев назад

I'm glad you're liking it. I also think it's kind of weird they don't have more options for transfers. Monthly works fine for me...but it would be nice to have weekly options.

@nkim0410 11 месяцев назад

I'm only trying to use Savings account for 4.5% right now...what do you mean when you say I have to deposit $10 into checking to get the bonus? what bonus is that?

@BrittanyFlammer 11 месяцев назад

By funding your account, I just mean depositing money into it. The bonus just changed...you now have to deposit $100. Here's how it works - if you are new to SoFi and create an account and deposit $100 into your checking account you will get a $25 bonus. If you setup direct deposit you can get up to a $250 bonus (the amount of your bonus depends on how much you are having automatically deposited into it). If you click on this link you can scroll to the very bottom to see the term of the bonus: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-QzNvnIwXTEw.htmlsi=4coPqWUkudYz8_WZ In order to get the 4.5% savings account, you have to have a direct deposit setup. If you do not setup direct deposit, you will get 1.2% on the savings account. I hope that helps - if you have more questions just let me know.

@daniellecampos5983 15 дней назад

I'm new to Sofi and I'm trying to replicate my Ally buckets where I can select from an external bank to deposit directly in my vaults but it doesn't let me. The option to select my vaults is greyed out. It looked like what you need to do it is transfer from an external bank into your Sofi Checkings or Savings, then set up another transfer from the Sofi Checking or Savings into the vault. Is that right? It doesn't seem efficient.

@BrittanyFlammer 14 дней назад

You're right - it isn't the most efficient. You can set up auto transfers into your vaults, but it has to be from within your sofi checking/savings. There are a lot of options within sofi, but not much automation from external accounts. Ally savings is the only one I know of where you can automate from external accounts directly into your buckets.

@moredatesmorefiber3526 Год назад

if you are self employed how do you have direct deposit?

@BrittanyFlammer Год назад

I get paid through PayPal, Etsy, and Google Adsense. I went through them, set my payment to automatically pay each month into my sofi account. The PayPal did not qualify, but my Etsy and Google Adsense did qualify me for the higher interest rate. Let me know if that doesn’t make sense.

@AngieWy Год назад

@@BrittanyFlammer Does a monthly social security check qualify or where can I find that information? On the fence. I am retiring early next year.

@SilverAura Год назад

@@AngieWy Qualifying direct deposits, as per their terms of service, include employer, payroll, or benefits provider via ACH deposit. They define non-qualifying as peer-to-peer transfers, merchant transactions, and ACH transfers from non-employers. Examples they provide are things like PayPal across the board, Venmo, Strip, Square, etc. I'd contact SoFi directly for clarification, but the language of their terms does seem to suggest that social security checks would qualify, if they were direct deposit, of course. The restrictions are focused on retaining and rewarding account holders who show some level of long-term commitment to their account, while also reassuring the bank they can expect some level of consistency in terms of incoming money. None of this is necessarily predatory either, but understanding their motives can give you some frame of reference in what to expect. There are plenty of good arguments to be made against why services like Venmo and PayPal shouldn't qualify, none of which apply to social security checks. I genuinely believe you should have no issues, but only SoFi can give you a concrete answer. The worst they can say is no. 👍🏼👍🏼