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WSFS and SoFi sign agreement on new cash management account

Friday 8 December 2017 00:50 CET | News

WSFS Financial Corporation has entered into a two-year partnership to provide payment processing and debit card sponsorship services for a new cash management account by SoFi Securities.

Innovation at WSFS dates back to 1972 when the bank became one of the first in the nation to grant Customers access to their checking accounts through electronic fund transfers with the WSFS Plan Card (debit card). In 1998, WSFS incubated CashConnect, a subsidiary, where developers created the software and technologies that have powered the industry’s ATM cash management and deposit safe services. Today, CashConnect is a national provider of cash management technical solutions to merchants and banks.

Mostly recently, WSFS became the first bank to issue a mobile-first, multi-currency account through a partnership with Zenbanx, which was acquired by SoFi earlier this year. In 2015, WSFS was the fourth bank in the nation and the first in the Mid Atlantic to rollout WSFS Mobile Cash, a service that allows Customers to securely withdraw cash from an ATM by using their WSFS Mobile Banking app.


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Keywords: WSFS, SoFi, agreement, cash management account, cards
Categories: Payments & Commerce
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