Samsung Money by SoFi is going live in the US today, and the company is giving away exclusive benefits to those that sign up for access to the service.
Samsung announced its Money by SoFi offering earlier this year. Back at the end of May. It's a money management system that allows users to store their money. And it carries perks and features that are unique to keeping your money in this sort of account.
It's a mobile-first system, so users won't just be getting perks that are tied to Samsung Pay. Use however is primarily mobile and thereby primarily digital. Though users do get a physical Mastercard debit card to pay for things physically in stores.
Samsung Money by SoFi users will get the benefit of exclusive discounts
The benefit that Samsung is giving to Samsung Money by SoFi users is exclusive discounts on its products. However the discounts are not yet available.
You can sign up for access to Samsung Money by SoFi today, but discounts will take a few weeks to arrive according to the company's announcement. Once they're available, discounts will be applied to a range of products that Samsung makes.
This includes its mobile products like phones and tablets (there's no mention if this will include the upcoming Galaxy Note 20), appliances like TVs, refrigerators, washers, and dryers, laptops, and more.
Samsung doesn't mention what the discounts will be. So they might be fairly substantial or they may only provide a small savings on the purchase. Either way, a discount is a discount. And it's a cherry on top if you were planning to sign up for the service anyway.
Account activation and access is nearly immediate
Once you sign up for Samsung Money by SoFi, account activation is almost instantaneous.
All users have to do is fund the account (put money into it) and then within a few minutes the digital debit card is ready to use. The physical card arrives by mail and Samsung says the wait is short but unfortunately does not provide a time frame.
Activating the physical card is also a simple process. Normally you'd have to call a phone number on the back of the card to activate it. With the Samsung Money by SoFi card, all you have to do is tap the card on your Samsung smartphone thanks the card's integrated NFC technology.
The service is now available to users in the US, but you do have to be a Samsung Pay user to sign up.