SoFi Money vs. Robinhood Cash Management | Which Account is BEST?

SoFi Money FREE $50- https://www.sofi.com/invite/money?gcp=6e3563d1-508a-4742-8d1b-8c40457b03e9

Robinhood FREE Stock- https://join.robinhood.com/brendap549

SoFi Invest FREE $50 of Stock- https://www.sofi.com/share/invest/3541406

SoFi Money Review- https://www.youtube.com/watch?v=fbBEYohWnCg&t=300s

Robinhood Cash Management Review- https://www.youtube.com/watch?v=0ZtnwycsCag&t=261s

▽MY FINANCIAL TOOLS▽

➤ Chime Fully Online Banking
1) 💰 Sign-Up for Chime HERE: https://magnified.reviews/Chime/App
Apply For the Chime Credit Builder HERE: https://magnified.reviews/Credit/Builder

----------

➤ SoFi Complete Money Management
2) 💸 SoFi Checking & Savings - https://magnified.reviews/SoFi
SoFi Credit Card - https://magnified.reviews/SoFiCreditCard
SoFi Invest - https://magnified.reviews/SoFiInvest
SoFi Budgeting - https://magnified.reviews/SoFiRelay

----------

➤ POINT Cash Back DEBIT CARD
3)💳 POINT - Get $100 for FREE when you make your first purchase!
SIGN UP HERE: https://magnified.reviews/POINT
USE CODE 'MAGNIFIED MONEY'

----------

➤ Wealthfront Automated Investing
4) 📊 Get Your First $5,000 of Investments Managed for FREE
https://magnified.reviews/Wealthfront

----------

➤ Current Card
5) 💵 Current - The Future of Banking
https://magnified.reviews/CurrentCard

----------

➤ Yotta Savings
6) 📈 Yotta - Use code MAGNIFIED to Get 100 FREE Tickets
https://magnified.reviews/Yotta

----------

➤ MY CAMERA GEAR
7) 📸🎤💡Camera, Microphone, and Lighting Kit
My Camera: https://magnified.reviews/Camera
My Microphone: https://magnified.reviews/Microphone
My Lights: https://magnified.reviews/Lights

The first way that both of these platforms really shine is that they are two of the only services that I'm aware of that seamlessly integrate your banking and investing accounts. While both SoFi and Robinhood both allow you to spend your uninvested money there is one very important difference that actually gives Robinhood cash management an advantage in my opinion. So with SoFi you obviously can have your SoFi money account and you can also open a separate SoFi investing account and while it is really easy to transfer money from one to the other it is not seamless while with Robinhood the whole pitch is that you can spend your uninvested cash.

As far as interest goes, Robinhood cash management offers 0.3% on all of your uninvested cash while SoFi money offers 0.25%. Now in the way of true checking features, both of these accounts are almost identical. They both offer a debit card which you can use to spend and they're both on the MasterCard network so they are literally identical as far as where you can use them. Both accounts offer fraud monitoring, location protection, and other small features like being able to lock your card remotely if you lose it.

Earlier I mentioned the mint budgeting app which if you're not familiar allows you to track all of your spending habits keep tabs on all of your bank accounts, investments, and even your credit score. Now you can easily integrate something like your Robinhood cash management account into Mint and keep track of your spending that way. However, SoFi has its very own budgeting feature called SoFi relay that in my opinion is just as good if not better than Mint.

In the way of customer service, there's really no competition because Robinhood is notorious for basically having nonexistent customer service. In comparison, SoFi has a 7 day per week call center of US-based individuals who are knowledgeable and extremely helpful. Everyone's experiences are different but, in my experience, I have had the call SoFi three times and every time I have been on the phone with a real person within under 2 minutes. Frankly, that's impressive for banking in general and everyone I've talked to has always been extremely helpful and knew exactly how to solve my problem without having to pass me on to another department or manager.

So at the end of the day, it's really up to you and what features you value the most. If you are strictly looking for an investing platform that also gives you the option to spend your uninvested money, then I would definitely give Robinhood a shot since they have seamlessly integrated these two features. However, if your priority is banking and managing your money but you still want the option to invest as well then I would definitely give SoFi a shot and by the way, SoFi will also give you an additional $75 when you open a SoFi invest account so total that’s $100 if you do want to have both of those accounts opened.

Music From Storyblocks Audio

I am not a Certified Financial Planner®. The topics presented in this video are for entertainment purposes only. You, and you alone, are responsible for the financial decisions that you make.

Видео SoFi Money vs. Robinhood Cash Management | Which Account is BEST? канала Magnified Money