SoFi Money vs. One Finance | Which Account is Best?

[@bobmemer9062]

Can you do another review of this and updated one.

[@debbieburisch7501]

Hi would you please review the one debit card from Walmart which bought out the old one finance. Thanks so much 😊

[@michaelpinson345]

What is really important to me is can I really trust one financial, sind Michael

[@michaelpinson345]

What is important to me is trust.can i really trust one financial

[@Trezn]

Might open a SoFi money account

[@MD71_]

you should do another video about what one is doing. The features you are mentioning here are starting to be removed.

[@grayjackman1093]

Can you do a update on this video

[@PatrickPecoraro]

Try a combo of Dave and SoFi. Dave has a completely automated budget feature. and it can tie to another bank you don't have to use their debit card.

[@MagnifiedMoney]

Thanks so much for the great suggestion! That would be a really interesting combination. I've added it to my list of potential video ideas!

[@ELPCOTILLION-SD1970]

Dave Is A Bloody RipOff...It Has A Monthly Fee...SoFi Is Far Better...

[@WrldExplorer]

I tried One for a pay period and the next i tried Envel. Umm besides the interest accounts, i personally like Envel. They have the same pockets type feature but Envel automatically places money in your envelopes on payday with the AI feature or you can do it manually. Also with One you can select what pocket you want your card connected to but I have forgotten until i use it and it comes out of another pocket. With Envel it only stays on that chosen pocket for 15 min then automatically goes back to the cash pocket. Envel is quicker to use than One with transferring money between envelopes. But Envel doesn’t have an iPad app or online access yet. I just got the Sofi credit card so I’m thinking about using Envel for expenses/bills and Sofi for everyday purchases until more features come along with One and Envel. I don’t think I’m going to find everything i want in one bank as i did in simple.

[@ebbline]

Thanks for the video. Since the banks have changed some, and I'm wondering how One compares now to Ally, Envel, Digital Federal Credits Union, and Varo. That's a good handful of banks lol but I'm just curious how these stack up together and look here in 2022.

[@thelegendofmiles]

One for win I had a great experience with them at my credit is boosting

[@JP-nq1er]

Getting paid early is very compelling. For a lot of people, that could be the difference of paying a bill on time especially if they are living check to check. Overall, great video. Keep up the great content!!!

[@BruceHarangII]

It only seems useful the first time. After that the "early" date is the new payday.

[@MagnifiedMoney]

That’s a really great point, thanks so much for sharing!

[@JP-nq1er]

@@mike-uw6wt As I stated earlier. Getting your paycheck a couple of days earlier it very compelling and I stand by that. I have a some friends and family who switched because of that feature. I don’t understand how getting paid early on a completely free checking account with many other great features is not compelling when all other big banks are bent on screwing people over with bull fees.

[@flavioa6351]

@@BruceHarangII ok and? Your new payday is better than the old payday. How is this so hard to comprehend? The earlier you get your money the earlier you can use it to pay a bill

[@supersonice4]

so, great information, but what are the books behind you. Read 2 of them, which through multiple different drastic switches in my life of finances it led me here and i've been squinting, trying to figure out what the other books on your shelves are. orrrrr maybe you already have a video on this topic lmao

[@ryanranocchini]

One Finance vs. Qube ?

[@MagnifiedMoney]

Thanks so much for the great suggestion! I've added it to my list of potential video ideas!

[@Hollowendz]

I watch a couple of ya videos and expected you to be bias towards sofi but you weren't, you earned a like and a sub for the great review.

[@MagnifiedMoney]

Thanks so much, I really appreciate that!

[@jahnjamisontibayan4974]

I watch all your videos and I’ve been following you for awhile now, keep up the good work! You will blow up fasho I believe in you!!!

[@MagnifiedMoney]

Thank you so much for the support and your kind words I seriously appreciate it so much!

[@awofxcel]

Another great feature with Sofi is the access to a real live free CFP’s if you are serious about saving and building wealth. Then this free service is a game changer. Get in before it is no longer. They do not limit the level of service they provide. CFP’s are not cheap so to have this advice at your finger tips is awesome.

[@MagnifiedMoney]

I completely agree. This is a service from them that I absolutely love it it’s unbelievable that they are able to offer this to free account holders. Thanks so much for sharing!

[@TomTom-gn9mp]

The most you can make per month from saving with this bank is $30 but you need $120,000 a year in direct deposits.

[@streamhighlights9461]

What thats nothing

[@Itserikaale]

So that isn’t good right? A person making minimum wage wouldn’t be Able to?

[@PokyPlays]

One Finance does have a referral system for 50 bucks after first direct deposit similar to chime and others as a heads up

[@MagnifiedMoney]

Oh I didn’t know that thanks so much for letting me know I really appreciate it!

[@PokyPlays]

@@MagnifiedMoney Of course always happy to help. Thank you for the amazing content about all these different banks!

[@zekeclark2594]

How did I find you with only 6k subscribers 😳 thank you for all your research 🙏🏻 I can see you make quality video! Glad to be an early support ❤️

[@MagnifiedMoney]

Thank you! 😃

[@BrianJoslyn]

One thing that 'ticks me off' about banks, and even credit unions, is they get so much more than the interest they offer. I'm one that would rather be transferred to someone else than to potentially get a wrong answer or even not have reached someone that can help with my inquiry. If the person is new and doesn't know much yet then I'd also prefer to be transferred or that person find out from a higher up before giving me an answer. (I've answered calls when I worked at a grocery store and I also had an inbound telemarketing job.)

[@MagnifiedMoney]

Thanks for the input as always!

[@smlmathieu0]

do u know if its compounded daily?? and another question if i auto save %10 that of my income every check that will be %3 from when i start all the way up to 5k if im understanding correctly and what happens if i manually add more to my savings what would the apy be on that

[@Wonderdog888]

I'm a simple customer that was the main reasoning why I switch to them was the budgeting automatically. I'm sad that they're closing down because I've been with them for two years and I've loved it.

[@MagnifiedMoney]

I completely agree! Thanks so much for the comment!

[@carsend7412]

My problem with the One Financial pockets is I don't use my debit card, basically at all. I only keep it on hand in case I need to withdraw from an ATM. I use credit cards for everything and just pay it off each week. So the pocket idea I don't think would work. I've stuck with Sofi cause of that. Good video

[@jeanettemccay]

I use Wells Fargo but I’m starting to use other online accounts too

[@MagnifiedMoney]

That's awesome. Thanks so much for sharing!

[@jeanettemccay]

@@MagnifiedMoney no problem i been with wells fargo since 2008 ill probably never leave yet i use other banks for online purchases and stuff

[@ELPCOTILLION-SD1970]

Both Are Absolutely Splendid...But SoFi Offers A Bit More...One Finance Check Deposit Is Fantastic~No Charge~I Hate Waiting But About 4 Days Is Not Too Bad~As Opposed To 10 Days For Funds To Appear On The Account...I Deposited A Check In My One Account In April And Funds Were There 4 Days Later...Online Banking Is Quite Fun Indeed...

[@Emily_Quinn]

Do a video on GO2Bank and there secure card

[@MagnifiedMoney]

Thanks so much for the suggestion! This one has been on my list for a little while now so hopefully I will be getting to it soon. Thanks for the comment!

[@210kvngjaymusik]

Hey my man, one added some interesting new features! I think it’s something you would wanna look into again. I think the developers watched your video and just added the features you pointed out. It’s actually even better now :)

[@KittyKat-vb1nd]

Have both. Love each one. Use one for budget as love pockets.

[@Catdad47]

So many good banking options out there. I’m currently using Varo but might switch cuz of that 10k savings limit. When I’m getting close to limit , I send some savings over to Yotta savings so I can still get that 3 % savings interest with Varo lol.

[@MagnifiedMoney]

Hahaha sooo true! There are just so many different options to choose from that all have unique features. Thanks so much for the comment!

[@mfmeow206]

I wish in your videos comparing you'd show the actual app being used, as that was what really set Simple over the top for me. I'm tempted to try One but it's really how clunky or streamlined "pockets" are that will decide it for me.

[@MagnifiedMoney]

Thanks so much for the feedback! I typically start with this "intro" style video to discuss the surface-level features and sometimes follow up with a more in-depth user review if I feel there is enough interest in an effort to keep my videos short and to the point. Thanks for the comment!

[@irfanchughtai4503]

i have a sofi money account slowly transferring all my accounts into one i opened one finance just off your video to give it a shot but cannot setup portion of my direct deposit here because my employer doesnt accept their routing number bummer! LOLOL

[@MagnifiedMoney]

Interesting… I wonder why! Thanks so much for sharing your experience I really appreciate it!

[@irfanchughtai4503]

@@MagnifiedMoney honestly not even sure! The Routing number for One Finance doesn’t even register under any of the banks when I search it on their payroll system or the bank name 🤷🏽‍♂️

[@ELPCOTILLION-SD1970]

The OneFinance Debit Card Has A Far Better Design Now...

[@richardboyer2774]

Great video! Thanks for posting. I have a question for you. What is a good all-in-one platform. I’m looking for a platform where I can do my banking (high yield saving, checking), and investing (ira, brokerage, etc) all in one place. What would you suggest? I want this mainly for the convenience.

[@MagnifiedMoney]

If you’re looking to do everything under the same platform then SoFi is probably going to be your best bet. They have banking, investing, budgeting, borrowing, it’s a ton of other fantastic tools all under the same platform. Thanks for the great question, I hope this helps!

[@richardboyer2774]

@@MagnifiedMoney thank you for your response

[@crouton976]

I wish One Finance would make it so their pockets feature being automatically divided wasn't just for direct deposit... I want to set it for any deposit over a user determined dollar amount. No bank is offering this. They damned well need to.

[@MagnifiedMoney]

That’s a really great point that I never even thought about. Thanks so much for sharing, I hope this is something that they might add down the road!

[@crouton976]

@@MagnifiedMoney I just discovered North One has this feature, but I've never been treated so poorly while trying to give a financial institution my money. Also, they're doing a back end update and aren't allowing new customers account access until 03/03/21... You get put into a queue until then.

[@DavidSantos-ix1hu]

3%tho I'm really interested.

[@MagnifiedMoney]

I completely agree! I am curious to see how long that will last. Thanks so much for the comment!

[@DavidSantos-ix1hu]

@@MagnifiedMoney I'm tempted to buy in just as a utility acount,save stock away for a year let it accrude with my stock money and 10% of my monthly check.

[@merlinmage6012]

Is one finance all digital bank or has physical debit card? Im looking for all digital bank that doesnt force a physical card any recomendations?

[@NaturallyBarre]

Will you do a head to head between Discover and Ally??

[@MagnifiedMoney]

Thanks again for suggesting this one, I think that would be a really great video so I should be making it soon.

[@GSU_Panther_Nation]

Personally, SoFi is better off for investing stocks and crypto. Although it is not the best in interest rates, the round up feature beats its interest rate. If you want more interest, definitely use One Finance. PS: One Finance is more comparable with Chime

[@awofxcel]

SoFi money does allow you to split my direct deposit into separate vaults Under autosave. When you are ready to spend the money you have to transfer it into the spending account. So not the same as pocket but similar.

[@MagnifiedMoney]

Hmm... I can’t believe I didn’t know about that future. Thank you so much for sharing I really appreciate it a lot! I’m gonna go on the app right now and start using it haha

[@awofxcel]

@@MagnifiedMoney after I posted the message I went to my account under mange autosave it allows you to put a portion of you direct deposit in a specific vault.

[@KittyKat-vb1nd]

I use my vaults like envelopes and do just that. For daily expenses such as grocery I have a vault with my budgeted amount and transfer over to my current when ready to use. I ordered a qube card but debating the fee to have more flexibility. I'm actually doing this already with my vaults in Sofi.