SoFi Spend Review 2020. It SoFi Invest, you are able to hold your money only in USD.

SoFi Spend Review 2020. It SoFi Invest, you are able to hold your money only in USD.

Account base currencies

You will be charged a conversion fee if you have a personal bank account in a currency other than USD.

A convenient option to save well on money transformation charges is by opening a multi-currency banking account at a electronic bank. They feature bank reports in a number of currencies with great foreign exchange prices along with free or inexpensive international bank transfers. Starting a free account just has a couple of minutes on your phone.

Deposit charges and choices

SoFi spend charges no deposit costs. US customers may use checks, ACH and cable transfers to invest in their account.

A SoFi spend deposit feature that individuals thought had been great was automated financing. Once you initiate a bank transfer deposit, SoFi spend immediately credits your bank account using this amount (up to $5,000), though it have not yet come through from your own bank-account (a procedure that may usually simply take two company days). In place, SoFi Invest is fronting the amount of money for you personally, which we thought had been perfect for instant trading.