Samsung, SoFi and Mastercard together launch the mobile-first money management platform; Account holders will obtain exclusive access to discounts on Samsung products
Samsung Electronics America, Inc., announced that starting today, consumers in the U.S. can sign-up for and access Samsung Money by SoFi: a mobile-first money management experience. Launched in partnership with SoFi, a leading fintech company, Samsung Money by SoFi brings a cash management account, accompanying Debit Mastercard and exclusive benefits to Samsung Pay.
New Exclusive Benefit Coming Soon
As part of the announcement, Samsung revealed that active Samsung Money by SoFi users will soon have access to an exclusive discount on Samsung’s award-winning products. Starting in just a few weeks, Samsung Money by SoFi users will receive discounts on Samsung Galaxy smartphones, tablets, wearables, TVs, laptops, washers, refrigerators and more on Samsung.com. This program will reward loyal account holders with a discount, on top of any offers available on Samsung.com. Once live, and once an account is funded, users will see a banner in the Samsung Money section in the Samsung Pay app. Clicking that banner will provide access to the discount.
About Samsung Money By SoFi
Samsung Money by SoFi is now available to Samsung Pay users in the United States. Samsung Pay users can get started by tapping the Money tab in the Samsung Pay app. The exclusive discounts on Samsung products on Samsung.com will be available in the coming weeks.
For more information about Samsung Money by SoFi, please visit https://www.samsung.com/us/samsung-pay/.
Samsung Money by SoFi® is a cash management account, which is a brokerage product, offered by SoFi Securities LLC. Member FINRA/SIPC. Neither SoFi nor its affiliates are a bank.
The Samsung Money by SoFi card is issued by The Bancorp Bank.
 Samsung Money by SoFi will launch with no account fees. Fees charged will be subject to change at any time as described in the account terms and conditions.
 SoFi partnered with Allpoint to provide consumers free ATM access at any of the 55,000+ ATMs within the Allpoint network. Consumers will not be charged a fee when using an in-network ATM, however, third party fees incurred when using out-of-network ATMs are not subject to reimbursement. SoFi’s ATM policies are subject to change at SoFi’s discretion at any time.
 6x based on the national average of 0.04% from the weekly rate cap as of 7/20.
 The cash balance in Samsung Money by SoFi cash management accounts is swept to one or more program banks where it earns a variable rate of interest and is eligible for FDIC insurance. FDIC Insurance does not immediately apply. Coverage begins when funds arrive at a program bank. There are currently six banks available to accept these deposits, making customers eligible for up to $1,500,000 of FDIC insurance (six banks, $250,000 per bank). If the number of available banks changes, or user elects not to use, and/or has existing assets at, one or more of the available banks, the actual amount could be lower. For more information on FDIC insurance coverage, please visit www.FDIC.gov. Customers are responsible for monitoring their total assets at each of the Program Banks to determine the extent of available FDIC insurance coverage in accordance with FDIC rules. The deposits in Samsung Money by SoFi or at Program Banks are not covered by SIPC.
About Samsung Electronics America, Inc.
Headquartered in Ridgefield Park, N.J., Samsung Electronics America, Inc. (SEA), is a leader in mobile technologies, consumer electronics, home appliances and enterprise solutions. A wholly owned subsidiary of Samsung Electronics Co., Ltd., SEA is pushing beyond the limits of today’s technology and providing consumers and organizations with a portfolio of groundbreaking products and services across mobile devices, connected appliances, home entertainment, 5G networks and digital solutions. To discover more about Samsung, please visit www.samsung.com. For the latest Samsung news, please visit news.samsung.com/us and follow us @SamsungNewsUS.
About Samsung Electronics Co., Ltd.
Samsung inspires the world and shapes the future with transformative ideas and technologies. The company is redefining the worlds of TVs, smartphones, wearable devices, tablets, digital appliances, network systems, and memory, system LSI, foundry and LED solutions. For the latest news, please visit the Samsung Newsroom at http://news.samsung.com.
About Mastercard (NYSE: MA)
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.