Samsung officially launches co-branded SoFi account

Samsung Electronics America Inc. said that U.S. consumers can now officially sign up and join Samsung Money by SoFi, a mobile money management account launched in partnership with fast growing fintech SoFi.

The cash management account, which includes a Mastercard debit account, offers exclusive benefits through the Samsung Pay mobile wallet.

Samsung plans to offer exclusive benefits on an array of Samsung products to Samsung Money by SoFi users, including discounts on Samsung Galaxy smartphones, Samsung tablets, wearables, laptops, televisions, washing machines, refrigerators and other products available on

Loyal account holders will be rewarded, above and beyond offers already available on

The Samsung Money by SoFi account is FDIC insured up to $1.5 million, charges no account fees, overdraft fees, transfer fees or in-network ATM fees.

The account also pays up to six times the national average on interest rates.