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.*

Get SoFi Money

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.


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


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


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


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