New! Eligible SoFi members can invest in upcoming IPOs before they’re traded on the public market—only in the SoFi app.* Learn more

We’ve got your
back with no-fee
Overdraft Coverage.

You shouldn’t be charged if you accidentally spend more than you have. That’s why SoFi® covers up to $50 once you’ve set up qualifying direct deposits.*

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Already bank with SoFi?
Set up direct deposit →

How it works:

SoFi members who receive $1,000 or more in total monthly
direct deposits are eligible for no-fee Overdraft Coverage.

1

Sign up for Checking and Savings and set up qualifying direct deposits. We’ll automatically turn on Overdraft Coverage as soon as you do.

2

Spend more than you have in your account? We’ll cover you up to $50 with no fees.

3

Your next deposit will automatically be applied to your negative balance.

FAQs

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Broker Check by Finra

Rule 606 Order Routing | Statement of Financial Condition

SoFi Checking and Savings is offered through SoFi Bank, N. A. Member FDIC.

This is not an offer, or solicitation of any offer to buy or sell any security, investment or other product.

SoFi Checking and Savings is offered through SoFi Bank, N.A.. The SoFi Bank Debit Mastercard® is issued by SoFi Bank, N.A., pursuant to license by Mastercard International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated. ©2023 SoFi Bank, N.A. All rights reserved. Member FDIC. Equal Housing Lender.

*Overdraft Coverage only applies to SoFi Checking and Savings accounts with qualifying direct deposits of $1,000/month and is currently unavailable for Samsung Money by SoFi accounts. Members with a prior history of non-repayment of negative balances for SoFi Checking and Savings are also ineligible for Overdraft Coverage.

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