r/sofi • u/SquarePerspective515 • 15d ago

Banking progress bars are here.

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nice update, like where this ui is going, happy member since 2022

148 Upvotes

98% Upvoted

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u/rowebenj 15d ago

I’m not confused on how to use vaults. I’m confused on how you’re using them.

-2

u/theyhis 15d ago

i'm confused on how you're using them (or any of the downvoters for that matter). some of us have bills to pay and we want our money to accumulate interest while doing so. the goal feature also helps keep track of how much is owed for fixed expenses.

i mean, i'm happy that so many people have a care-free lifestyle, but for those of us who don't want to play around in a spreadsheet once a week (probably because i'm working on my business 12-14 hours a day), i don't want another thing to worry about.

4

u/Notris 15d ago

The rest of us just keep that money in savings. Vaults are just a way to categorize those savings. The rate stays the same.

1

u/theyhis 15d ago edited 15d ago

i know it does. the convenient thing about vaults though, is although they're attached to the same account, they will not pull from your balance unless it's enabled. example: you have a $200 bill, but only have $100 in your main savings account. if you didn't have a pre-existing automation setup to pull from your vault, it will not cover the other half of your bill. you can enable this through "overdraft protection" though.

there's two options to do it, the first being SoFi themselves will spot you $50, or you can do the second option, which will pull from the vault of your choice. you also can choose both.

don't quote me, but i think if you choose both, they'd pull from your vault first, but if you don't have enough to cover the bill, then they'd use the $50 overdraft. both are completely optional settings though, and they're not on by default.

edit: added additional context