SoFi Technologies is an American online bank and personal finance startup. SoFi, a financial services company based in San Francisco, offers a variety of financial services through desktop and mobile apps, including student and vehicle loan refinancing, mortgages, personal loans, credit cards, investing, and banking. Mike Cagney, Dan Macklin, James Finnigan, and Ian Brady, four students who met at the Stanford Graduate School of Management, created SoFi, short for Social Finance Inc., in the summer of 2011.
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For people taking on debt to pay for their education, the founders of SoFi wanted to offer more inexpensive solutions. The company’s first lending program was a test run at Stanford; for this initiative, 40 alumni lent about $2 million to roughly 100 students, for an average of $20,000 per student.
Can I use Zelle with SoFi?
Although Zelle is not immediately accessible through the SoFi app, you can connect your Zelle account to your SoFi debit card.
Does SoFi accept PayPal?
Yes! PayPal can be connected to banks such as SoFi. While using the manual method, some PayPal users have been unable to promptly link their SoFi banking account to PayPal. To enable PayPal to confirm your bank account, you must provide your SoFi routing and account details.
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