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Samsung Money by SoFi may be worth keeping if you use Samsung Wallet and value having a cash-management account inside that ecosystem. It is less compelling if your main goal is the highest available savings rate: the public Samsung Money rate is dated, and SoFi says Samsung Money customers must close that account and open SoFi Checking and Savings to qualify for its cited SoFi Plus rate.
What Samsung Money by SoFi is—and what it is not
Samsung Money by SoFi is a cash-management account and brokerage product offered by SoFi Securities LLC, integrated with Samsung Wallet. It is not Samsung Financing, ordinary SoFi Checking and Savings, or the Samsung Galaxy Card. SoFi describes it as a cash-management account; SoFi Securities LLC is not a bank. SoFi’s account disclosure explains the product and its cash-sweep arrangement.
Samsung and SoFi announced the account in 2020, describing individual and joint accounts, a debit card using Mastercard’s payment network, and access to Allpoint ATMs. Those are launch-era details, not proof that every feature or term remains unchanged. Samsung’s separately announced Galaxy Card is a different product: its July 2026 announcement identifies Barclays US Consumer Bank as issuer and Visa as its payment network. Samsung’s Galaxy Card announcement
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Is the Samsung Money interest rate competitive?
The public Samsung Money support disclosure says members can earn up to 3.30% APY, but that figure is dated December 23, 2025, and the rate is variable. SoFi says the rate can fluctuate monthly with the Federal Funds Rate. Its current public materials do not establish the account-specific live rate for October 2026. Check the APY shown on the Samsung Money homepage after signing in through Samsung Wallet before comparing it with another account. Samsung Money APY disclosure · How SoFi says the rate is determined
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- PRIVACY DISPLAY: Automatically hide your screen from those beside you. The built-in privacy display can be preset¹ to turn on when receiving notifications, typing passwords, or using specific apps
- TYPE IT IN. TRANSFORM IT FAST: Enhance any shot in seconds on your smartphone by using Photo Assist² with Galaxy AI.³ Add objects, restore details, or apply new styles by simply typing or tapping
- NIGHTS, CAPTURED CLEARLY: From gigs to city lights, record and capture moments after dark with clarity using Nightography so your photos and videos stay crisp and clear on your Samsung Galaxy
- MAKE IT. EDIT IT. SHARE IT: Turn everyday moments into something personal with creative tools built right into your mobile phone, whether it’s a special contact photo, custom wallpaper, an invitation or more⁴
- HELP THAT KEEPS UP: Stay in the moment while Now Nudge with Galaxy AI helps you respond faster and stay organized with smart suggestions⁵ that appear exactly when you need them on your phone
SoFi’s cited alternative is not an upgrade available within Samsung Money. SoFi says Samsung Money members seeking the SoFi Plus savings rate must close Samsung Money and open SoFi Checking and Savings. The disclosed Plus subscription costs $10 per month when paid by credit or debit card. SoFi cited 4.50% APY on up to $20,000 in one SoFi Savings account for Plus members; it said those rates were current as of September 23, 2026, and variable. Other savings balances under the stated Plus terms earn 3.30% APY. Check the current terms before deciding, and account for the subscription fee as well as the effort of moving accounts. SoFi’s answer for Samsung Money customers
How to decide whether switching is worthwhile
- Compare the live APY in Samsung Wallet with the current rate offered by the alternative account, rather than relying on the dated public Samsung Money figure.
- Include the $10 monthly Plus charge in the comparison unless you already pay for Plus or independently value its other benefits.
- Consider that the cited 4.50% APY applies only to up to $20,000 in one SoFi Savings account under the stated terms, not to Samsung Money.
- Weigh the account-closing and funds-transfer steps against any rate difference, and factor in Samsung Wallet dependence if you may change phones.
Who can open an account, and what happens if you change phones?
SoFi’s help center says applicants must be at least 18, be a US citizen, lawful permanent resident, or non-permanent resident, have a physical address in one of the 50 states or Washington, DC, and provide a valid SSN or ITIN. Individual and joint accounts are available; trust and business accounts are not. Samsung Money eligibility details
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- Please note, this device does not support E-SIM; This 4G model is compatible with all GSM networks worldwide outside of the U.S. In the US, ONLY compatible with T-Mobile and their MVNO's (Metro and Standup). It will NOT work with other CDMA carriers, and it is also not compatible with their MVNO (Visible, Xfinity Mobile, US Mobile, Cricket Wireless, etc).
- Compatibility with certain third-party devices and accessibility accessories, including some hearing aids, may vary depending on manufacturer support, Bluetooth protocols, software compatibility, and regional firmware limitations. For additional hearing aid compatibility information, please refer to Samsung’s official support documentation.
- Camera: 50 MP, f/1.8, (wide), 1/2.76", 0.64µm, AF | 50 MP, f/1.8, (wide), 1/2.76", 0.64µm, AF | 2 MP, f/2.4, (macro). Battery: 5000 mAh, non-removable | A power adapter is NOT included.
Access depends on Samsung Wallet, which is available on Samsung devices. SoFi says that if you move to a non-Samsung phone, you cannot access Samsung Money on that phone and must close the account and transfer the funds out. That makes the account a poorer fit if you expect to leave the Samsung ecosystem. SoFi’s guidance for changing to a non-Samsung phone
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How deposit protection works
Cash in Samsung Money is swept to one or more program banks; FDIC insurance applies only after funds reach a program bank. SoFi says this usually occurs within two business days after a deposit. The amount eligible for coverage may be lower depending on participating-bank availability and your other deposits at those banks. SoFi’s disclosure also says SMBS deposits at program banks are not covered by SIPC. Do not treat the launch-era coverage figure in Samsung’s 2020 announcement as a current, universal guarantee. SoFi’s current account disclosure · Samsung’s 2020 launch announcement
Quick Recap
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- TYPE IT IN. TRANSFORM IT FAST: Enhance any shot in seconds on your smartphone by using Photo Assist¹ with Galaxy AI.² Add objects, restore details, or apply new styles by simply typing or tapping
- MAKE IT. EDIT IT. SHARE IT: Turn everyday moments into something personal with creative tools built right into your mobile whether it’s a special contact photo, custom wallpaper, an invitation or more³
- FAST. POWERFUL. AI-READY: Power through your day with AI-accelerated performance from our fastest, smoothest and most powerful Galaxy processor yet, built to keep up with everything you do
- IMMENSELY IMMERSIVE: No matter where you are or what you’re watching, your favorite videos and more come to life with the vibrant display on Galaxy S26
- FIT EVERYONE IN THE SHOT: Group selfies are easier on your Samsung phone with a wider front camera⁴ that captures more of the scene, so no one gets left out of the moment
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- YOUR CONTENT, SUPER SMOOTH: The ultra-clear 6.7" FHD+ Super AMOLED display of Galaxy A17 5G helps bring your content to life, whether you're scrolling through recipes or video chatting with loved ones.¹
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- MEMORIES MADE PICTURE PERFECT: Capture every angle in stunning clarity, from wide family photos to close-ups of friends, with the triple-lens camera on Galaxy A17 5G.
- NEED MORE STORAGE? WE HAVE YOU COVERED: With an improved 2TB of expandable storage, Galaxy A17 5G makes it easy to keep cherished photos, videos and important files readily accessible whenever you need them.³
- BUILT TO LAST: With an improved IP54 rating, Galaxy A17 5G is even more durable than before.⁴ It’s built to resist splashes and dust and comes with a stronger yet slimmer Gorilla Glass Victus front and Glass Fiber Reinforced Polymer back.
Rank #3
- YOUR CONTENT, SUPER SMOOTH: The ultra-clear 6.7" FHD+ Super AMOLED display of Galaxy A17 5G helps bring your content to life, whether you're scrolling through recipes or video chatting with loved ones.¹
- LIVE FAST. CHARGE FASTER: Focus more on the moment and less on your battery percentage with Galaxy A17 5G. Super Fast Charging powers up your battery so you can get back to life sooner.²
- MEMORIES MADE PICTURE PERFECT: Capture every angle in stunning clarity, from wide family photos to close-ups of friends, with the triple-lens camera on Galaxy A17 5G.
- NEED MORE STORAGE? WE HAVE YOU COVERED: With an improved 2TB of expandable storage, Galaxy A17 5G makes it easy to keep cherished photos, videos and important files readily accessible whenever you need them.³
- BUILT TO LAST: With an improved IP54 rating, Galaxy A17 5G is even more durable than before.⁴ It’s built to resist splashes and dust and comes with a stronger yet slimmer Gorilla Glass Victus front and Glass Fiber Reinforced Polymer back.
Who should keep Samsung Money by SoFi?
- It may suit you if you use a Samsung phone and Samsung Wallet, want the integrated cash-management experience, and the live rate and account terms meet your needs.
- It may not suit you if you are likely to move to a non-Samsung phone, want a savings rate that is not tied to this account’s changing terms, or would switch solely for SoFi Plus without accounting for its fee and the required account change.
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