Is SoFi money a real bank? What countries is SoFi available in?

SoFi is an FDIC insured, nationally chartered bank that offers SoFi Checking and Savings.

SoFi became a bank in order to bring you the best features, including a simple, market-leading interest rate of 4.00% APY across both SoFi Checking and Savings accounts (requires an active direct deposit).

SoFi Checking and Savings is a legitimate option for online banking. There are no account fees, and setting up direct deposit has appealing benefits, like a cash bonus, higher APY and fee-free overdraft coverage.

What countries is SoFi available in?

SoFi went international in April 2020 with its acquisition of the Hong Kong-based investing app 8 Securities.

However, its global reach still remains limited to the United States, Hong Kong, China, Singapore, Japan, and Australia.

Unfortunately, there is no concrete timeline for when SoFi might consider international expansion. Further, they do not support international wire transfers.

SoFi wants to establish a foothold in the USA following its mandate to become a one-stop shop.