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  SoFi Checking and Savings
SoFi Checking and Savings
in Checking Accounts from SoFi
Claimed

SoFi Checking and Savings

Claimed
in Checking Accounts from SoFi
SuperMoney Net Recommendation Score +73  

SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +73, equating to 4.5 on a 5 point rating scale.

+73

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

Strongly recommended

9 users recommend
1 user is unsure
1 user doesn't recommend
Leave a Review
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Highlights
Community Rating Strongly recommended
Cashback Rewards Up to 15%
APY (Annual Percentage Yield) Up to 4.0%
(Verified 03/23/2023)
Monthly Fee $0
(Verified 03/23/2023)
Minimum Balance to Avoid Monthly Fee N/A
Number of Reviews 11

SoFi Checking and Savings Review

SoFi Checking and Savings is offered by SoFi, a nonbank financial services provider founded in 2011 and based in San Francisco, CA. SoFi Checking and Savings are available in 50 states (and Washington, DC).

Key Takeaways

  • Very high annual percentage yield (APY). This account offers an annual percentage yield of up to 4.0%, which is much higher than the average for a checking account.
  • $0 monthly fee. This account does not charge any monthly account fees.
  • No minimum initial deposit. There is no minimum balance required to open an account online.
  • No ATM fees. SoFi Checking and Savings does not charge fees on ATM transactions.
  • ATM fee rebates. This account will reimburse you for ATM fees (see terms and conditions for details).
  • Bill pay. Pay your bills to practically anyone in the United States through SoFi.

SoFi Checking and Savings Pros & Cons

Pros Cons
  • Zero fees.
  • No minimum balances.
  • Available in all 50 states.
  • High variable APY.
  • Free debit card
  • No signup bonus.
  • Online-only account with no access to physical branches.

SoFi Checking and Savings FAQ

Are checking accounts from SoFi federally insured?

Yes, your deposits are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

What APY does SoFi Checking and Savings offer?

SoFi does not provide interest rate information until a customer applies for a new account.

What are the account minimums for SoFi Checking and Savings?

SoFi Checking and Savings does not require a minimum initial deposit.

SoFi Checking and Savings Minimums
Description
Minimum Opening Deposit Starting at $0
Minimum Balance to Earn APY $0

What fees does SoFi Checking and Savings charge?

The good news is that this account does not have a monthly Service Charge.

SoFi Checking and Savings Fees
Description
Monthly Fee $0
ATM Fee: In-Network $0
ATM Fee: Out-of-Network Starting at $0
Foreign Transaction Fee (Debit Card) 0%
NSF Fee $0
Overdraft Item Fee $0
Overdraft Protection Fee (per transfer) $0
Returned Deposit Fee (Domestic) $0
Returned Deposit Fee (International) $0
Stop Payment Fee $0
Paper Statement Fee $0
Online Bill Pay Fee $0
Debit Card Replacement Fee $0
Early Account Closure $0

Does SoFi Checking and Savings charge overdraft fees?

No, SoFi Checking and Savings does not charge overdraft fees.

What features and perks does SoFi Checking and Savings offer?

This account includes the following features:

  • ATM rebates - This account will reimburse you for any domestic ATM fees.
  • Fraud monitoring - SoFi Checking and Savings monitors transactions for potentially unauthorized activity, such as when a debit card is unexpectedly used in a different location or you make a sudden string of costly purchases.
  • Online Bill Pay - Online Bill Pay allows you to pay bills easily from your account.
  • Mobile Banking Services - SoFi Checking and Savings allows you to manage your money online or with a mobile app. This includes depositing checks in your account with a mobile app on your smartphone.
  • Nationwide ATM network - Conveniently transact at a nearby ATM.

What is the customer support email for SoFi Checking and Savings?

The customer support email for SoFi Checking and Savings is customerservice@sofi.com.

How do people rate the customer service and user experience of SoFi Checking and Savings?

Overall, SoFi Checking and Savings is strongly recommended based on community reviews that rate customer service and user experience.

SoFi Checking and Savings Disclosure: Standard fees for ingoing and outgoing wire transfers (actual fees not yet announced)
SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Message From SoFi Checking and Savings

Get paid early. Reach your goals faster. Get your paycheck up to two days early, pay no account or overdraft fees, and reach your goals faster with automatic savings features. Get even more with direct deposit. No account fees and free ATMs at 55,000+ Allpoint locations? Oh, that's just the beginning. Set up qualifying direct deposit to unlock these features and more. No overdraft fees. No minimum balance fees. No monthly fees. Save, spend, and earn— all with SoFi Money.

Contact

Hours of Operation

  • Sunday 4:00am - 5:00pm
  • Monday 4:00am - 9:00pm
  • Tuesday 4:00am - 9:00pm
  • Wednesday 4:00am - 9:00pm
  • Thursday 4:00am - 9:00pm
  • Friday 4:00am - 5:00pm
  • Saturday 4:00am - 5:00pm

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Availability

  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • Washington, DC
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Minimum Opening Deposit Starting at $0
Minimum Balance to Earn APY $0
Monthly Fee $0
(Verified 03/23/2023)
ATM Fee: In-Network $0
ATM Fee: Out-of-Network Starting at $0
Foreign Transaction Fee (Debit Card) 0%
NSF Fee $0
Overdraft Item Fee $0
Overdraft Protection Fee (per transfer) $0
Returned Deposit Fee (Domestic) $0
Returned Deposit Fee (International) $0
Stop Payment Fee $0
Paper Statement Fee $0
Online Bill Pay Fee $0
Debit Card Replacement Fee $0
Early Account Closure $0
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Verification Documents Required
  • Driver License (or other photo ID)
  • Proof of Identity
  • Government Issued Photo ID
  • Social Security Number
Account Features
  • No ATM Fees
  • Free Bill Pay
  • Mobile Check Deposit
  • No Monthly Maintenance Fee
  • Interest Bearing Account
  • ATM Reimbursement
  • Nationwide ATM Network
  • Mobile Banking
  • Fraud Monitoring
  • Debit Card
  • Member FDIC
  • Online-Only Account
Cashback Rewards Up to 15%
Signup Bonus Starting at $0
APY (Annual Percentage Yield) Up to 4.0%
(Verified 03/23/2023)

SoFi Checking and Savings Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +73, equating to 4.5 on a 5 point rating scale.

+73

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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