Why was the Mastercard cell phone insurance benefit taken away?

We are winding down the Mastercard cell phone insurance benefit for members of SoFi Checking and Savings, SoFi Money and Samsung Money by SoFi.

We're instead devoting resources to faster money movement, savings features, and more flexible payment options. 

Here’s a quick reminder of some of the other benefits available to SoFi Checking and Savings members:

• No account fees, overdraft fees, and ATM fees at 55,000+ Allpoint ATMs
• Earn up to $100 cash bonus and 4.25% APY 
• Local cash back rewards
• Automatic savings features
• SoFi member benefits