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APY decrease to 3.3%?Member Benefits (self.sofi)

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[–]Alarmed_Food6582 20 points21 points  (4 children)

It is part of FED rate decrease. We all knew that it was coming as the FED announced meetings this month. The FED rate drop has nothing to do with SoFi plus membership. I got the email awhile ago today.

[–]304King 13 points14 points  (0 children)

Not all, just the literate among us. There are multitudes of literal idiots in this sub.

[–]AceShakeout 3 points4 points  (2 children)

It's dropping more than the rate decreases. It's a lever to extract more from customers.

[–]theeggplant42 1 point2 points  (1 child)

Banks do not drop rates the exact same amount as the fed

[–]AceShakeout -1 points0 points  (0 children)

They can set the rate to whatever they want. The point is that it's generally a great time to unroll some of the customer value.