The Best Financial Decision I've Made in Years Only Took Me 30 Minutes

For over 15 years, I kept my money in a traditional Wells Fargo savings account. It felt like the smart, safe move -- until I realized I was missing out on hundreds of dollars a year in interest.

A few months ago, I finally moved my money to SoFi®, where I earn up to 3.80% annual percentage yield (APY) -- hundreds of times more than Wells Fargo's measly 0.01% APY. It was one of the easiest and best financial decisions I've made in years.

Here's how easy it was for me to make the switch -- and why I recommend you do the same today.

A quick switch that paid off immediately

I opened my SoFi Checking and Savings (Member FDIC) account online, from the comfort of my couch -- no paperwork or in-person visits required.

I also qualified for a $300 welcome bonus, just by doing the following:

• Opened a SoFi Checking and Savings (Member FDIC) account
• Set up qualifying direct deposits
• Direct deposited at least $5,000 within 25 days of the first deposit

Lower direct deposit amounts -- between $1,000 and $4,999 -- earn a smaller $50 bonus.

Within weeks, the $300 bonus hit my account automatically -- and once I used that money to buy myself some new Blu-rays, I knew I'd made the right move.

Want to earn a bonus and a high APY? Read our full review of the SoFi Checking and Savings (Member FDIC) account and get started now.

A much higher APY than Wells Fargo

The cash bonus was a nice cherry on top, but the real win is SoFi®'s ongoing savings APY.

With qualifying direct deposits, SoFi® pays up to 3.80% APY on savings and 0.50% APY on checking. That's literally 380 times more than I was earning with Wells Fargo.

To give you an idea of how much you can earn: $10,000 earning 3.80% APY would net you $380 in interest a year, compared to just $1 a year at Wells Fargo's 0.01% rate.

And just like traditional bank accounts, SoFi® gives you complete access to your cash at all times, making it the perfect place for your emergency fund and short-term savings.

I also love that SoFi® offers:

• No monthly fees or minimum balance requirements
• No overdraft fees
• Instant transfers between other SoFi® accounts

A half-hour investment that keeps paying me back

Moving my money to SoFi® took less than 30 minutes, and I've already earned more in interest than I made in years with Wells Fargo.

If you're still not sold on SoFi®, there are plenty of other high-yield savings accounts with competitive rates. And the sooner you move your money to one of them, the sooner it can start working harder for you.

Want to compare top rates now? See our list of the best high-yield savings accounts available today.