I am doing a super slow DCA into the market but currently only 5% of my NW is invested in stocks. Rest of it is just cash sitting in a checking account which doesn't pay almost any interest. I read that SoFi pays a 1.5% APY if you enroll in direct deposit with them. Many banks don't let you open savings account if you are not a US citizen/resident. Is it the same for SoFi? Does anyone on visa have a SoFi checking/savings account? TC 160K
Anyone can open a savings a/c. I opened mine with citibank way back when I was a student on F1 visa. There are also legit high yield savings accounts at banks more legit than sofi
I tried citibank. They have a high yield savings account which pays 1% APY but it says you need to be a "US Person" or citizen. Also, what do you mean by "more legit"? Isn't SoFi safe? They do have FDIC insurance tho.
You can be a us person without a green card. Look up the IRS definition of us person.
I bonds
I think I bonds also require citizenship or GC
Not really. You can check out treasury direct website. US residents can also buy it.
I tried with opening an account with SoFi and they declined my request. Being a resident isn’t criteria to open an account . You need to be either GC or citizen.
Do whatever you want to do. Don’t be scared of Visa situation and stop being a slave
I am on h1 and have Sofi account.
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Yes, you can
How has your experience been with them? Do they send a debit card? Also, is the interest paid monthly?
Yes they send a debit card and interst paid monthly. Best bank in my opinion... But I might be biased as my brother works there.