Is SoFi a legitimate company? Is SoFi a safe bank?

Online bank and personal finance company SoFi Technologies is based in the United States. SoFi, a San Francisco-based company, offers a range of financial services, including banking, investing, mortgage, personal, student, and auto loan refinancing, as well as mortgages, personal loans, credit cards, and investment.

Four students who met at the Stanford Graduate School of Management, Mike Cagney, Dan Macklin, James Finnigan, and Ian Brady, formed SoFi, or Social Finance Inc., in the summer of 2011. For individuals going 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 trial run at Stanford University; for this initiative, 40 alumni lent about $2 million to roughly 100 students, averaging $20,000 per student.

Is SoFi a legitimate company?

SoFi is an authorized bank. It provides consumers with a variety of goods and services to aid in money management, including refinancing loans, debt consolidation, buying insurance, and investment services.

Is SoFi a safe bank?

With SSL encryption, two-factor authentication, fraud prevention, and FDIC insurance, your account will be protected. (SoFi is not a bank, but works with institutions that are FDIC insured to protect your money.)