SoFi is in the process of rolling out an option for their account holders to get increased FDIC insurance from $250,000 to $2M by spreading the funds around multiple banks. When eligible, SoFi customers will get an email for one-click enrollment in this new program.
Just note, if you already have funds within one of SoFi’s partner banks, your insurance will not be increased above $250,000 from all of your combined balances.
Chuck
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