Launched in partnership with fintech SoFi, Samsung Money by SoFi brings a cash management account, accompanying Debit Mastercard and benefits to Samsung Pay. The activation of the account will be instant, therefore, as soon as customers fund their Samsung Money by SoFi account, their digital debit card will be provisioned in their Samsung Pay wallet, with their physical card arriving shortly by mail. To activate the card, tap it on the phone and watch the screen for confirmation.
According to the official press release, Samsung Money by SoFi charges zero account fees, overdraft fees or transfer fees. Besides, it rewards users for saving, earning Samsung Rewards points for every purchase they make within Samsung Pay. Customers can also use the Samsung Pay app to check their balance, review past statements, and search transactions. They can pause or restart spending, freeze or unfreeze their card, change their pin and assign their trusted contact
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