Sofi is introducing an option for its account holders to increase their FDIC insurance from $250,000 to $2 million by distributing the funds across multiple banks. Eligible customers will receive an email for one-click enrollment in this new program. However, it's important to note that if you already have funds within one of Sofi's partner banks, your insurance will not be increased above $250,000 from all of your combined balances. To learn more about this program, check out the press release and FAQ on Sofi's website. Don't miss out on the opportunity to increase your FDIC insurance coverage.
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