15d (edited) • Wins & Stories 🎉
Sofi (3rd Post) and Navigating Early Warning Alert
Sofi Banking latest updates.
Just opened Sofi Account for my spouse with ITIN 90X-XX-XXXX. (6 MONTHS OLD)
- Its third time applying Sofi. Gave early warning denial in March twice and used two email address and created two profiles.
Why Sofi
- Accpet US address but accepts W8BEN also. In W8BEN you mention your foreign address. They will issue 1042S on yesr end. All interest income is non taxable for me by IRS after that. No with holdings
- Have clear status viz. Resident , Non Resident and US citizen in their system
- Highest Interest in saving for next 6months with Sofi Plus : 4.5% APY. Best to park spare cash in USD.
- Full online banking with Zelle and Bill pay. Allow Foreign IPs at login with Microsoft authenticator at non trusted logins.
- Every thing online. Good user experience and decent customer support.
- FDIC coverage up to $3 M (vs $250k standard). Listed on NYSE. Listing make any company robust. Rare to find increased FDIC insurance. Chase, Bank of America, and Wells Fargo all offer the standard $250,000 FDIC insurance — identical to any other FDIC-insured bank. Just to give better confort.
- Good process with docusign to submit W8BEN. Impressive.
- Will taste Credit card later after 2-3 months.
- You can connect to other Banks account and credit cards in their Sofi Relay portal. Very good dashboard how much money in each bank account and credit cards and see their transactions in one go. I just login to that feature and able to see my Amex and Capital one credit card speding also. Can Not trsut this with any third party software.
Trick After being denied on Early Warning system.
- I have used two email in past. agent told me to remove one profile completely. Help me delete one.
- Ask them that my ITIN and residential status or address was wrong. They will transfer to new team who will send link to upload passport and ITIN letter. Use this. Force them to make some change to your profile. Make profile cleaner as much as possible
- Once this team accepts your passport and ITIN. Transfer back to banking team.
- Ask them I was denied twice in past anything I should be doing differently. Check your profile with them thoroughly. My thought is if they make changes in profile chances of approval next time is high and delete duplicate profiles
- Use Physical addres non CMRA. Use US IP.
- Worth making multiple calls to live agent before actually clicking submission. This was key differentiator.
Bingo got approved. Just 6months old ITIN history. Fist bank account for my spouse after ITIN.
I just asked Claude to compare with three major banks with Sofi and this appeared. May be its wrong use discretion ..
1
7 comments
Sofi (3rd Post) and Navigating Early Warning Alert
skool.com/itin
Helping non-US residents and business owners access US banking, credit cards, and ITIN - from anywhere.
Leaderboard (30-day)
1
+103
2
+101
3
+72
4
+72
5
+65
Powered by