Samsung Money: How Samsung's new debit card works

Samsung is launching a new debit card and cash management account later this summer in the US. Here's what we know so far about Samsung Money by SoFi and how it will work with Samsung Pay.

[tauqeerk]

Card check
Phone check
Technology check
MST check
Now only if I had that thing called as "MONEY".

[zsmorr]

Samsung pay having the option to use MST is still a huge benefit even in 2020, at least in the US. NFC has definitely started to catch up, but it is not even close to everywhere.

[MufqiNaufal]

Meanwhile in Japan, the most technologically advanced country in the world: wE pRefEr cAsh :)

[graysonsmith]

If anyone is new to samsung rewards, ignore it. I've worked at saving those points for almost 3 years and have been only close enough to buy a $15 phone case, then they removed all the buy now redemptions leaving only some coupons and sweepstakes. After deciding to cash in whatever I had the only meaningful thing I got was a consolation prize of 1 free year with Calm and a $80 equivalent value of in-game purchases for a mobile game I've never heard of. If you think this reward system might give you enough value for this card, it definitely won't. I love the MST function but everything else is useless at best and a time-sink at worst. Even if you could earn a lot of points with this card there is nothing you can do with them.

[oceano]

the reward system sounds like it will be used to steer how i spend my money

[kujas]

I mean its a debit card not a credit card so you really can't compare it to the apple card in that aspect.

[HelloThere-dpcr]

This question might be dumb but what does an intrest rate of 0.2% APY mean? Is it good or bad? I wish schools would teach us about this but sadly they don't.

[tuffytoys]

I have a few questions. Firstly can you have the option not to accept the interest payments.? Secondly, i notice that when users on the advertisement are using their phones to pay with the no-touch payment method that their phones do not have any protective cases or tempered glass screens, how well does the app work with a reasonable protective case and screen?. Lastly when will this payment method be available for international users and can the card be used to purchase items from websites like ebay and amazon or the samsung store etc.

[a_aronhdtech]

You forgot to mention the most important thing. How does the money get put on the card

[bitehunter]

Debit Cards are great. It is disappointing that Samsung is not offering a credit card instead.

[pmount]

Just got approved, expecting the physical card by next week 🙌
So far it's looking good 👍

[this_charming_man]

I'm pretty sure this is the future of banking IMO. Physical bank branches are going to obsolete.

[foreverhumanpodcast]

Humans really confuse me. Have we not figured out imitation is love? It's great that both apple and Samsung are doing these their own way to appeal to everyone out there and I'm interested in Google's version.

[rdrift]

Is this considered a prepaid card? Or am actual bank acct?

[tristan]

How it defers from a regular debit card

It's made from Samsung and meant for Samsung

[NeikosGamer]

CNET can post you the link to the website to sign up the for the waitlist thanks Cnet or post the link to article on cnet for more details thanks

[wallacerigby]

SoFi using that Samsung money for all those new commercials.

[phillip]

What's next? Facebook debit card?😪

[jadenisiah]

So that’s what I signed up for in Samsung Pay😭😂 I was wondering ab this

[ben_theminecraft]

Someone tell... what exactly is this? I know its a debit card... but does it come with the funds already? Or is there a deposit to be made?