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Wire transfers are a quick and secure way to move a large sum of money from one bank to another. Whether you need to make a down payment on a house, fund a brokerage account, or send money to family members abroad, wire transfers are a highly reliable option.

However, this speed and security usually come with a cost. Many banks charge hefty fees both for sending wire transfers (outgoing) and receiving them (incoming). The good news is that there are ways to reduce — and in some cases completely eliminate— the cost of wire transfers. Here’s what you need to know about bank wire charges.

What Are Wire Transfer Fees?

A wire transfer is an electronic method of moving funds directly from one bank account to another. Domestic wire transfers typically clear within a few hours. International wire transfers often rely on networks like SWIFT, can pass through intermediary banks, and may take one to five business days.

While wire transfers are secure and convenient, they are one of the most expensive ways to send money. Fees vary widely by bank and are generally higher for international transfers than domestic wires. A bank may also charge a fee for currency conversion, which could increase the total cost of a wire transfer. Any intermediary banks involved in the transfer may also charge a fee, which is deducted from the transfer amount.

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How Much Do Wire Transfer Fees Cost?

The cost of a wire transfer varies by bank, the type of account you have, whether the wire is outgoing or incoming, and whether you’re sending a domestic transfer or making an international transfer. Not all banks offer wire transfers; some offer domestic wires but not international wires.

Average Domestic vs. International Costs

Domestic outgoing wire transfers tend to cost between $25 to $30, while international outgoing wires can run anywhere from $25 to $50. Incoming domestic wires typically cost $15 to $20, while incoming international wire run between $15 and $25.

Wire Fees by Financial Institution

Below are wire transfer fees charged by a number of well-known banks for customers with standard checking accounts. Many banks waive wire transfer costs (or offer one free wire per month) for customers with premium or higher-tier accounts. If an intermediary bank is involved in the transfer, there may be additional fees not reflected in this chart.

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Do International Fees Cost More Than Domestic?

Yes, international wire transfers typically cost more than domestic transfers. In addition, the funds may pass through one or more intermediary banks to reach the destination, and each one may deduct a processing fee from the transfer amount.

If you are converting dollars into a foreign currency, your bank will also likely add a markup to the exchange rate, which means the actual cost of the transfer is higher than the upfront flat fee.

Exchange Rate Markups Explained

The exchange rate markup is a hidden fee many banks and money transfer services add to the “real” (or midmarket) exchange rate. The midmarket exchange rate is the rate banks use to trade with one another and is the exact figure you see when searching for an exchange rate online. When sending an international wire, however, a bank will rarely give you the true midmarket rate; instead, they typically inflate the rate — typically adding 1-3% of your transferred money.

If you opt not to convert the money before you send it, the receiving bank will do the conversion and likely charge a markup of their own.

Intermediary Bank Fees

While some banks have direct relationships, many international transfers must pass through one or more intermediary banks. When this occurs, intermediaries typically deduct their own processing fees — often between $15 and $30 per bank — directly from the transfer amount. As a result, the final transfer amount delivered to the recipient may be less than the amount you wire.

Why Do Banks Charge Wire Transfer Fees?

Banks generally charge wire transfer fees because of the work and risk involved in processing wire transfers. Unlike Automated Clearing House (ACH) payments, which are processed in batches, wire transfers are processed individually at the time they are initiated. The bank immediately makes the funds available (from their reserve funds) and sends payment information and instructions to the receiving bank through a secure system such as SWIFT or FedWire. The receiving bank deposits money from its reserved funds into the recipient’s account, then the two banks settle the payment.

Tips to Avoid Wire Transaction Fees

Wire transfer fees can add up. Here are some strategies that can help you minimize — or completely avoid — them when sending money both domestically and internationally.

Use a Neobank or Fintech

You may be able to save a significant amount of money on both domestic and international transfers by utilizing neobanks, including online banks, or fintech platforms. Instead of routing funds through traditional intermediary networks, these providers often utilize localized networks or blockchain technology for higher efficiency. In addition, any relevant exchange rates and transfer fees are typically presented to you for approval before you confirm the transaction.

Leverage Your Bank’s Fee Policies

Some institutions do not charge wire fees at all, while others waive wire fees for premium-level checking accounts. Depending on your bank’s wire fee schedule, you may be able to significantly reduce the cost by initiating the wire via your bank’s apps or website rather than using the help of a representative in-branch or over the phone.

Send Money in Foreign Currency

If you need to send funds to a bank account outside the U.S., some banks reduce or waive wire transfer fees if you allow them to convert your U.S. dollars into a foreign currency before transferring the funds. Just be aware that they charge markup on the exchange rate.

Recurring Transfer Discounts

Some banks and credit unions allow customers to send a recurring wire transfer for a lower fee than a one-time wire. However, depending on the amount you’re sending, using a recurring ACH transfer or your bank’s online autopay service may be a better (typically free) alternative for recurring domestic transfers.

Alternative Ways to Send and Receive Money

Depending on how much you need to send and where you need to send it, one of these other transfer methods may be a better option to using a wire transfer.

ACH Transfers (Standard Bank Transfers)

For domestic transfers, you might consider making an online money transfer, which is typically free. These transfers are processed via the ACH transfers, rather than using a wire transfer. ACH transfers are typically free or low-cost, though they may take longer to process (typically one to three business days). Many banks also have specific daily and monthly ACH transfer limits.

P2P Apps (Venmo, Cash App, PayPal)

Peer-to-peer (P2P) payment apps such as Venmo, Cash App, and PayPal allow you to send and receive money directly from your phone. This makes it quick and easy to pay friends, split bills, or send gifts. Third-party mobile apps are usually free when making bank or debit card payments. However, both the sender and receiver must be registered users of the same platform, transfers are typically limited to domestic payments, and fees may apply for credit card use or instant withdrawals.

The Takeaway

Wire transfers are a fast and secure way to move money, but they often come with significant fees, especially for international transactions. Understanding your bank’s fee schedule, exploring premium account waivers, and considering alternatives like ACH transfers or peer-to-peer apps can help you avoid unnecessary costs. By comparing your options and leveraging modern banking platforms, you can find the most efficient and cost-effective way to send your funds.

Interested in opening an online bank account? When you sign up for a SoFi Checking and Savings account with eligible direct deposit, you’ll get a competitive annual percentage yield (APY), pay zero account fees, and enjoy an array of rewards, such as access to the Allpoint Network of 55,000+ fee-free ATMs globally. Qualifying accounts can even access their paycheck up to two days early.

FAQs

Do you pay a fee to receive a wire transfer?

Yes, many banks charge a fee to receive wire transfers. While policies vary by institution, incoming domestic wire transfers typically cost between $15 and $20, while incoming international wires often range from $15 to $25. Some banks may waive these fees for customers with premium or higher-tier checking accounts, so it’s important to review your specific bank’s fee schedule to understand if and how much you will be charged.

Why are wire transfers so expensive?

Wire transfers are costly because they are processed individually rather than in batches like standard ACH payments. When you initiate a wire, your bank immediately makes funds available from its own reserves and sends secure payment instructions through systems like SWIFT or FedWire. The receiving bank also uses its own reserves to deposit funds into the recipient’s account before settlement occurs. This process involves significant manual work, dedicated infrastructure, and financial risk for the banks involved, leading them to charge fees to cover those costs.

Do all banks charge wire transfer fees?

No, not all banks charge wire transfer fees. Policies vary significantly between financial institutions. Some banks may charge fees for both incoming and outgoing wires, while others waive these costs entirely or offer a certain number of free transfers per month, particularly for customers with premium accounts. Additionally, some neobanks or fintech platforms may offer different fee structures compared to traditional banks. It’s important to review your specific bank’s fee schedule to understand their policy and whether you qualify for any waivers.

How can I send a wire transfer for free?

To send a wire transfer for free, consider these strategies:

•   Choose the right provider: Some banks, credit unions, and brokerages offer lower-cost or free wire transfers.

•   Check your account tier: Many traditional banks waive wire fees for customers with premium or higher-tier checking accounts.

•   Use digital channels: Initiate wires through your bank’s website or app rather than in-branch, as some institutions charge extra for representative assistance.

•   Explore alternatives: For domestic transfers, free options like ACH transfers, real-time payment systems, or P2P apps (like Venmo or Zelle) may be available. In addition, some online banks and third party providers offer low-cost alternatives to international wires.

Photo credit: iStock/Ridofranz

SoFi® Checking and Savings is offered through SoFi Bank, N.A. ©2026 SoFi Bank, N.A. All rights reserved. Member FDIC. Equal Housing Lender.

^Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.

Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 5/28/26. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet

Eligible Direct Deposit means a recurring deposit of regular income to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government benefit payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Eligible Direct Deposit”) via the Automated Clearing House (“ACH”) Network every 31 calendar days.

Although we do our best to recognize all Eligible Direct Deposits, a small number of employers, payroll providers, benefits providers, or government agencies do not designate payments as direct deposit. To ensure you're earning the APY for account holders with Eligible Direct Deposit, we encourage you to check your APY Details page the day after your Eligible Direct Deposit posts to your SoFi account. If your APY is not showing as the APY for account holders with Eligible Direct Deposit, contact us at 855-456-7634 with the details of your Eligible Direct Deposit. As long as SoFi Bank can validate those details, you will start earning the APY for account holders with Eligible Direct Deposit from the date you contact SoFi for the next 31 calendar days. You will also be eligible for the APY for account holders with Eligible Direct Deposit on future Eligible Direct Deposits, as long as SoFi Bank can validate them.

Deposits that are not from an employer, payroll, or benefits provider or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, Wise, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, or are non-recurring in nature (e.g., IRS tax refunds), do not constitute Eligible Direct Deposit activity. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. SoFi Bank shall, in its sole discretion, assess each account holder's Eligible Direct Deposit activity to determine the applicability of rates and may request additional documentation for verification of eligibility.

See additional details at https://www.sofi.com/legal/banking-rate-sheet.
We do not charge any account, service, or maintenance fees for SoFi Checking and Savings. We do charge transaction fees for outgoing wire transfers, Instant Transfers, and global remittance transfers. Our fee policy is subject to change at any time. See the SoFi Bank Fee Sheet for details at sofi.com/legal/banking-fees/.
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SOBNK-Q226-193

Many of us would love to own a vacation home, but the added expense isn’t always doable. Because we can’t all own multiple properties, vacation timeshares continue to be a popular choice for solo travelers, couples, and families who want more space, amenities, and “a place to call home” at their locale of choice.

Here, you’ll get an honest rundown of how timeshares work, their pros and cons, and a few financing options.

What Is a Timeshare?

A timeshare is a way for multiple unrelated purchasers to acquire a fractional share of a vacation property, which they take turns using. They share costs, which can make timeshares far cheaper than buying a vacation home of their own.

Timeshares are a popular way to vacation. In fact, nearly 10 million U.S. households own one or more timeshare products, according to the American Resort Development Association (ARDA). The average price of a timeshare transaction is $23,160. This figure can vary widely depending on the location, size, and quality of the property, the length of stay,

How Do Timeshares Work?

If you’ve ever been lured to a sales presentation by the promise of a free hotel stay, spa treatment, or gift card, it was probably for a vacation timeshare. As long as you sit through the sales pitch, you get your freebie. Some invitees go on to make a purchase. You can also buy a timeshare on the secondary market, taking over from a previous owner.

What you’re getting is access to a property for a set amount of time per year (usually one to two weeks) in a desirable resort location. Timeshares may be located near the beach, ski resorts, or amusement parks. You can trade weeks with other owners and sometimes even try out other properties around the country — or around the world — in a trade.

In addition to the upfront cost of the timeshare, owners pay annual maintenance fees based on the size of the property — about $1,480 on average — whether or not they use their timeshare that year. These fees, which cover the cost of upkeep and cleaning, often increase over time with the cost of living. Timeshare owners may also have to pay service charges, such as fees due at booking.

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Types of Timeshares

There are two broad categories of timeshare ownership: deeded and nondeeded. In addition, you’ll find four types of timeshare use periods: fixed week, floating week, fractional ownership, and a points-based system.

It’s important to understand all of these terms before you commit.

Deeded Timeshare

With a deeded structure, each party owns a piece of the property, which is tied to the amount of time they can spend there. The partial owner receives a deed for the property that tells them when they’re allowed to use it. For example, a property that sells timeshares in one-week increments will have 52 deeds: one for each week of the year.

Nondeeded Timeshare

Nondeeded timeshares work on a leasing system, where the developer remains the owner of the property. You can lease a property for a set period during the year or a floating period that allows you greater flexibility. Your lease expires after a predetermined period.

Fixed-Week Timeshare

Timeshares offer a limited number of options for when they can be used. Fixed-week means you can use the property during the same set week each year.

Floating-Week Timeshare

Floating-week agreements allow you to choose when you use the property depending on availability.

Fractional Ownership

Most timeshare owners have access to the property for one or two weeks a year. Fractional timeshares are available for five weeks per year or more. In this ownership structure, there are fewer buyers involved, usually 2-12. Each party holds an equal share of the title, and the cost of maintenance and taxes is split.

Points System

Finally, you may be able to purchase “points” that you can use in different timeshare locations at various times of the year.

Is a Timeshare a Good Investment?

Getting out of a timeshare can be difficult. Selling sometimes involves a financial loss, which means they’re not necessarily a good investment. However, if you purchase a timeshare in a place that your family will want to return to for a long time — and can easily get to — you may end up spending less than you would if you were to purchase a vacation home.

Benefits of Timeshare Loans

The timeshare developer will likely offer you financing as part of their sales pitch. The main benefit of a timeshare loan is convenience. And if you’re happy to return to the same vacation spot year after year, you may save money compared to staying in hotels. Plus, for many people, it may be the only way they can afford getting a vacation home.

Drawbacks of Timeshare Loans

Timeshare loans from developers often come with steep interest rates, especially for buyers with lower credit scores, who may be offered rates that exceed 20.00%. And if you eventually decide to sell, you’ll probably lose money. That’s because timeshares tend not to gain value over time. Finally, if you’re not careful about running the numbers before you commit, you can end up paying more in annual fees than you expect.

Recommended: What Is Revolving Credit?

Financing a Timeshare

Developer financing is often proposed as the only timeshare financing option, especially if you buy while you’re on vacation. However, with a little advance planning, there are alternative options for financing timeshares. If developer financing is taken as an initial timeshare financing option, some timeshare owners may want to consider timeshare refinance in the future.

Home Equity Loan

If you have equity built up in your primary home, it may be possible for you to obtain a type of home equity loan from a private lender to purchase a timeshare. Home equity loans are typically used for expenses or investments that will improve the resale value of your primary residence, but they can be used for timeshare financing as well.

Home equity loans are “secured” loans, meaning they use your house as collateral. As a result, lenders will give you a lower interest rate compared to the rate on an unsecured timeshare loan offered at a developer pitch. You can learn more about the differences in SoFi’s guide to secured vs. unsecured loans.

Additionally, the interest you pay on a home equity loan for a timeshare purchase may be tax-deductible as long as the timeshare meets Internal Revenue Service (IRS) requirements, in addition to other factors. Before using a home equity loan as timeshare financing, or even to refinance timeshares, be aware of the risk you’re taking on. If you fail to pay back your loan, your lender may seize your house to recoup their losses.

Personal Loan

Another option to consider for timeshare financing is obtaining a personal loan from a bank or an online lender. While interest rates for personal loans can be higher than rates for home equity loans, you’ll likely find a loan with a lower rate than those offered by the timeshare sales agent.

Additionally, with an unsecured personal loan as an option for timeshare financing, your primary residence isn’t at risk in the event of default.

Getting approved for a personal loan is generally a simpler process than qualifying for a home equity loan. Online lenders, in particular, offer competitive rates for personal loans and are streamlining the process as much as possible.

The Takeaway

Timeshares offer one way to secure a place to stay in your favorite vacation destination each year without having to buy a second home. And timeshares may save you money over time compared to the cost of a high-end hotel. However, beware of timeshare financing offered by developers. Interest rates can be as high as 20.00%. There are other ways to finance a timeshare that can be more affordable, including home equity loans and personal loans.

Think twice before turning to high-interest credit cards. Consider a SoFi personal loan instead. SoFi offers competitive fixed rates and same-day funding. See your rate in minutes.

FAQ

Can I rent my timeshare to someone else?

Whether or not you can rent your timeshare out to others will depend on your timeshare agreement. But in many cases, your timeshare resort will allow you to rent out your allotted time at the property.

Can I sell my timeshare?

Your timeshare agreement will give you details about when and how you can sell your timeshare. In most cases, you should be able to sell, but it may be hard to do so, and you may take a financial loss.

Can I transfer ownership of my timeshare or leave it to my heirs?

You can leave ownership of a timeshare to your heirs when you die and even transfer ownership as a gift while you’re living. Once again, refer to your timeshare agreement for rules about what is possible and how to carry out a transfer.

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SOPL-Q226-061

The definition of a U.S. Savings Bond is an investment in the federal government that helps to increase your money. By purchasing a savings bond, you are essentially lending money to the government which you will get back in the future, when the bond matures, with interest. Because these financial products are backed by the federal government, they are considered to be low-risk. And, in certain situations, there can be tax advantages.

What Are Savings Bonds?

A savings bond is basically a loan made to the U.S. government, in exchange for which the government agrees to repay the loan at a later time, along with interest that is earned over the life of the bond.

There are two types of savings bonds available through the U.S. Treasury: the Series EE savings bond and the Series I savings bond. The Series EE bond offers a fixed-interest rate, while the Series I bond offers a combination of a fixed rate and a variable inflation rate. Both bonds are low-risk and provide interest for up to 30 years, though you may withdraw funds without penalty as long as the bond has been held for at least five years.

Investors may also invest in state or local municipal bonds that fund public projects and may be available in different term lengths.

How Do Savings Bonds Work?

Savings bonds are issued by the U.S. Treasury. You can buy one for yourself, or for someone else, even if that person is under age 18. (That’s why, when you clean out your closets, you may find a U.S. Savings Bond that was a birthday present from Grandma a long time ago.)

Basically, these savings bonds function the same way that other types of bonds work. You buy a savings bond for face value, or the principal, and the bond will then pay interest over a specific period of time.

•   You can buy savings bonds electronically from the U.S. Treasury’s website, TreasuryDirect.gov. For the most part, it’s not possible to buy paper bonds anymore but should you run across one, you can still redeem them. (See below). Unlike many other types of bonds, such as some high-yield bonds, you can’t sell savings bonds or hold them in brokerage accounts.

How Much Are Your Savings Bonds Worth?

If you have a savings bond that has been tucked away for a while and you are wondering what it’s worth, here are your options:

•   If it’s a paper bond, log onto the Treasury Department’s website and use the calculator there to find out the value.

•   If it’s an electronic bond, you will need to create (if you don’t already have one) and log onto your TreasuryDirect account.

Savings Bonds Interest Payments

For U.S. Savings Bonds, interest is earned monthly. The interest is compounded semiannually. This means that every six months, the government will apply the bond’s interest rate to grow the principal. That new, larger principal then earns interest for the next six months, when the interest is again added to the principal, and so on.

3 Different Types of Savings Bonds

There are two types of U.S. Savings Bonds available for purchase — Series EE and Series I savings bonds. Here are the differences between the two.

1. Series EE Bonds

Introduced in 1980, Series EE Bonds earn interest plus a guaranteed return of double their value when held for 20 years. These bonds continue to pay interest for 30 years.

Series EE Bonds issued after May 2005 earn a fixed rate. The current Series EE interest rate for bonds issued as of May 1, 2026, is 2.40%.

2. Series I Bonds

Series I Bonds pay a combination of two rates. The first is the original fixed interest rate. The second is an inflation-adjusted interest rate, which is calculated twice a year using the Consumer Price Index for All Urban Consumers (CPI-U). This adjusted rate is designed to protect bond buyers from inflation eating into the value of the investment.

When you redeem a Series I Bond, you get back the face value plus the accumulated interest. You know the fixed rate when you buy the bond. But the inflation-adjusted rate will vary depending on the CPI-U during times of adjustment.

The current composite rate for Series I Savings Bonds issued as of May 1, 2026, is 4.26%.

3. Municipal Bonds

Municipal bonds are a somewhat different savings vehicle than Series I and Series EE Bonds. Municipal Bonds are issued by a state, municipality, or county to fund capital expenditures. By offering these bonds, projects such as highway or school construction can be funded.

These bonds (sometimes called “munis”) are exempt from federal taxes and may also be exempt from local taxes if you reside in the state where the bond is issued. The market price of bonds will vary with the market, and they typically require a larger investment of, say, $5,000. Municipal bonds are available in different terms, ranging from relatively short (about one to five years) to longer (the typical 30-year length).

How To Buy Bonds

You can buy Series EE and I Savings Bonds directly through the United States Treasury Department online account system called TreasuryDirect, as noted above. This is a little bit different than the way you might buy other types of bonds. You can open an account at TreasuryDirect just as you would a checking or savings account at your local bank.

You can buy an EE or I Savings Bond in any amount ranging from a $25 minimum in penny increments. So, if the spirit moves you, go ahead and buy a bond for $49.99. The flexible increments allow investors to dollar cost average and make other types of calculated purchases.

That said, there are annual maximums on how much you may purchase in savings bonds. The electronic bond maximum is $10,000 per calendar year for each type.

The Pros and Cons of Investing in Savings Bonds

Here’s a look at the possible benefits and downsides of investing in savings bonds. This could help you decide if buying these bonds is the right path for you, or if you might prefer to otherwise invest your money or stash it in a high-yield bank account.

Here’s a summary of the pros and cons of investing in savings bonds:

The Pros of Investing in Savings Bonds

Here are some of the upsides of investing in savings bonds.

•   Low risk: U.S. Savings Bonds are one of the lower-risk investments you could make. You are guaranteed to get back the entire amount you invested, known as principal. You will also receive interest if you keep the bonds until maturity.

•   Tax advantages: Savings bond holders don’t pay state or local taxes on interest at any time. You don’t have to pay federal income tax on the interest until you cash in the bond.

•   Education exception: Eligible taxpayers may qualify for a tax break when they use U.S. Savings Bonds to pay for qualified education expenses.

•   No fees: Unlike just about every other type of security, you won’t pay a fee, markup or commission when you buy savings bonds. They’re sold at face value, directly from the Treasury, so what you pay for is what you get. If you buy a $50 bond, for example, you’ll pay $50.

•   Great gift: Unlike most securities, people under age 18 may hold U.S. Savings bonds in their own names. That’s what makes them a popular birthday and graduation gift.

•   Patriotic gesture: Buying a U.S. Savings Bond helps support the U.S. government. That’s something that was important and appealed to investors when these savings bonds were first introduced in 1935.

The Cons of Investing in Savings Bonds

Next, consider the potential downsides of investing in savings bonds.

•   Low return: The biggest disadvantage of savings bonds is their low rate of return, as noted above. A low risk investment like this often pays low returns. You may find you can invest your money elsewhere for a higher return with only slightly higher risk.

•   Purchase limit: For U.S. Savings Bonds, there’s a purchase limit per year of $10,000 in bonds for each series (meaning you can invest a total of $20,000 per year). For some individuals, this might not align with their investing goals.

•   Tax liability: It’s likely you’ll have to pay federal income tax when you cash in your savings bond, unless you’ve used the proceeds for higher education payments.

•   Penalty for early withdrawal: If you cash in your savings bond before five years have elapsed, you will lose the previous three months of interest as a penalty. You are typically not allowed to cash in a bond before the one-year mark.

When Do Savings Bonds Mature?

You may wonder how long it takes for a savings bond to mature. The EE and I savings bonds earn interest for 30 years, until they reach their maturity date.

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How to Cash in Savings Bonds

You’ll also need to know how and when to redeem a savings bond. These bonds earn interest for 30 years, but you can cash them in penalty-free after five years.

•   If you have a paper bond, you can cash it in at your bank or credit union. Bring the bond and your ID. Or go to the Treasury’s TreasuryDirect site for details on how to cash it in.

•   For electronic bonds, log into your TreasuryDirect account, click on “confirm redemption,” and follow the instructions to deposit the amount to a linked checking or savings account. You will likely get the money within a few business days.

•   If you inherited or found an old U.S. Savings Bond, you may be able to redeem savings bonds through the TreasuryDirect portal or via Treasury Retail Securities Services.

Early Redemption of Bonds

If you cash in a U.S. Savings Bond after one year but before five years, you’ll pay a penalty that is the equivalent of the previous three months of interest. Keep in mind that for EE bonds, if you cash in before holding them for 20 years, you lose the opportunity to receive the doubled value of the bond that accrues after 20 years.

The History of US Savings Bonds

America’s savings bond program began under President Franklin Delano Roosevelt in 1935, during the Great Depression, with what were known as “baby bonds.” This started the tradition of citizens participating in government financing.

The Series E Saving Bond contributed billions of dollars to financing the World War II effort, and in the post-war years, they became a popular savings vehicle. The fact that they are guaranteed by the U.S. government generally makes them a safe place to stash cash and earn interest.

The Takeaway

U.S. Savings Bonds can be one of the safest ways to invest for the future and show your patriotism. While the interest rates are typically low, for some investors, knowing that the money is being securely held for a couple of decades can really enhance their sense of financial security.

Another way to help boost your financial well-being is to find the right banking partner for your deposit product needs.

Interested in opening an online bank account? When you sign up for a SoFi Checking and Savings account with eligible direct deposit, you’ll get a competitive annual percentage yield (APY), pay zero account fees, and enjoy an array of rewards, such as access to the Allpoint Network of 55,000+ fee-free ATMs globally. Qualifying accounts can even access their paycheck up to two days early.

FAQ

What is a $50 savings bond worth?

The value of a $50 savings bond will depend on how long it has been held. You can log onto the TreasuryDirect site and use the calculator there to find out the value. As an example, a $50 Series I bond issued in January 2000 would be worth more than $241 today.

How long does it take for a $50 savings bond to mature?

The full maturation date of U.S. savings bonds is 30 years. You can cash EE and I bonds after one year, but if you cash them before five years, you lose three months of interest as a penalty.

What is a savings bond?

A savings bond is a secure way of investing in the U.S. government and earning interest. When you buy a U.S. Savings Bond, you are loaning the government money, which, upon maturity, they pay back with interest.

Photo credit: iStock/AlexSecret

SoFi® Checking and Savings is offered through SoFi Bank, N.A. ©2026 SoFi Bank, N.A. All rights reserved. Member FDIC. Equal Housing Lender.

Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 5/28/26. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet

Eligible Direct Deposit means a recurring deposit of regular income to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government benefit payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Eligible Direct Deposit”) via the Automated Clearing House (“ACH”) Network every 31 calendar days.

Although we do our best to recognize all Eligible Direct Deposits, a small number of employers, payroll providers, benefits providers, or government agencies do not designate payments as direct deposit. To ensure you're earning the APY for account holders with Eligible Direct Deposit, we encourage you to check your APY Details page the day after your Eligible Direct Deposit posts to your SoFi account. If your APY is not showing as the APY for account holders with Eligible Direct Deposit, contact us at 855-456-7634 with the details of your Eligible Direct Deposit. As long as SoFi Bank can validate those details, you will start earning the APY for account holders with Eligible Direct Deposit from the date you contact SoFi for the next 31 calendar days. You will also be eligible for the APY for account holders with Eligible Direct Deposit on future Eligible Direct Deposits, as long as SoFi Bank can validate them.

Deposits that are not from an employer, payroll, or benefits provider or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, Wise, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, or are non-recurring in nature (e.g., IRS tax refunds), do not constitute Eligible Direct Deposit activity. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. SoFi Bank shall, in its sole discretion, assess each account holder's Eligible Direct Deposit activity to determine the applicability of rates and may request additional documentation for verification of eligibility.

See additional details at https://www.sofi.com/legal/banking-rate-sheet.
We do not charge any account, service, or maintenance fees for SoFi Checking and Savings. We do charge transaction fees for outgoing wire transfers, Instant Transfers, and global remittance transfers. Our fee policy is subject to change at any time. See the SoFi Bank Fee Sheet for details at sofi.com/legal/banking-fees/.
^Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.

*Awards or rankings from Forbes are not indicative of future success or results. This award and its ratings are independently determined and awarded by their respective publications.


¹SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at SoFi.com/banking/fdic/sidpterms. See list of participating banks at SoFi.com/banking/fdic/participatingbanks.

Tax Information: This article provides general background information only and is not intended to serve as legal or tax advice or as a substitute for legal counsel. You should consult your own attorney and/or tax advisor if you have a question requiring legal or tax advice.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.

SOBNK-Q226-128

You live in a fast-paced world and are accustomed to immediate gratification. Just as you can get groceries delivered in minutes and order a new movie online with a few clicks, so too may you expect your bank deposits to be available immediately.

But it doesn’t always work that way when it comes to finances. Some things do require a wait, even though it may seem like they should happen instantaneously. When money is put into a bank account, it can take a while for the deposited funds to appear and become available. Here’s a simple breakdown of how long it takes for funds to clear.

What Are Cleared Funds?

Depositing money into a bank account doesn’t always make those funds appear immediately. It can take time for the funds to clear and become available to use. This is because banks and credit unions may place a temporary hold on the deposit. When this happens, the account holder can see their “total balance” on their account and their “available balance.” The latter is the amount of the total balance minus any pending deposits. The available balance is, as the name indicates, what is available for use.

Why Banks Put a Hold on Deposits

One reason why banks don’t immediately declare deposits to be cleared funds is to help avoid issues that can arise when a deposit bounces. Having a brief waiting period helps protect customers from bank fraud and from paying unnecessary fees. If a bank were to allow a customer to spend funds from a check that ends up bouncing, the customer would then need to repay the bank the amount they deposited and probably pay an overdraft fee (even if the customer wasn’t at fault).

Some holds take longer than others. The federal government regulates the max amount of time a banking institution can hold onto the funds before they make them available to the account holder.

Banks and credit unions also have their own policies regarding how long it will take for funds to become available after a deposit, which can be shorter than federal regulations. It can be helpful to review your bank’s policies for holding deposits so you can get a better idea of when cleared funds will become available. That way, you won’t accidentally overdraw your account.

How Do Cleared Funds Work?

Cleared funds appear in a bank account, such as a checking account, after the holding period ends. Usually, this holding period lasts until the next business day, but it can take longer. Weekends and holidays can slow this process down. The type of deposit made can also affect the timeline.

Here’s a specific example: If you deposit a check via an ATM that is not part of your bank’s network, you will probably have to wait a while to access the money. It may take up to five days before that check becomes available cash in your account.

Compare that to the case of electronic deposits made via the Automated Clearing House (ACH). The funds can actually clear and become available as soon as the same day. Having a paycheck deposited via direct deposit can help you access your money a lot faster than if you’d deposited a check at an ATM.

Breakdown of Times of Cleared Funds

All banks and credit unions have their own timeline they follow surrounding cleared funds. In addition, the federal government sets a maximum limit for how long these financial institutions can make consumers wait to access their deposits.

Here’s a quick breakdown of the federally allowed wait times for different types of transactions, from wiring money to depositing checks.

*Deposited in person

It’s worth noting that these are the maximum hold times allowed. In many cases, these deposits happen much quicker. Again, it’s worth reviewing the bank’s funds availability policy. This will be listed in the account agreement given to you, the account holder, when you opened an account. You can also ask the bank for a copy of their holding policies or look online for them.

When Can You Withdraw Cleared Funds?

Deposits often clear in segments. That is, a portion of the funds will become available in your checking account before the whole amount deposited is ready for use. In most cases, the bank has to allow the customer to access $275 from the deposit at the start of the next business day. You could either withdraw cash or write a check for that amount. Usually, the rest of the deposit is available on the second business day, unless something occurs to trigger a delay.

Cleared Funds vs Available Funds

The terms “cleared funds” and “available funds” both refer to funds that are available for immediate withdrawal or use. It’s important to keep in mind that simply depositing a check doesn’t mean you can use the money right away.

•   Regarding a deposit, the $275 that must be made available by the next business day is known as your cleared or available funds. So on the next day, you can go ahead and use that amount.

•   However, the rest of your deposit may not yet be available. If you try to draw against it, you are risking overdraft and charges. The full amount of the deposit may take up to a few more days to become ready for use.

Reasons Why Deposits May Be Delayed Until They Become Cleared Funds

There are a few different reasons why deposits can be delayed on their path to becoming cleared funds.

Deposits Over $6,000

When it comes to large deposits (excluding cash or electronic payments), the bank is typically required to make the first $6,450 of the deposit available by the second business day and the remainder available on the seventh business day or sooner.

Recommended: Where to Cash a Check Without Paying a Fee

Brand-New Customer Accounts

Newer customer accounts (less than 30 days old) can experience deposit delays up to nine days. However, with official checks and electronic payments, partial funds can be available the next day. (If you are in this situation and in a rush to make a payment, you can look into other ways to send money to another’s bank account, such as peer-to-peer (P2P) apps. These can draw upon other available funds.)

Postdated or Fraudulent Checks

If a bank has reason to suspect a deposit is suspicious (such as if a check appears to be fraudulent), then it may hold the funds for longer than normal. A couple of examples of what might cause this kind of hold:

•   A check is postdated, meaning it’s been filled out to show a date that is in the future.

•   A check is more than six months old.

The Takeaway

Cleared funds are the funds that become available once a deposit to a bank account clears. That means the money is ready for use. The timeline for funds clearing depends on several factors, such as where, when, and how the deposit was made and how large the amount is. Some funds may clear right away, while others can take a few days. However, federal laws are in place regarding how long a bank can wait to clear funds. By understanding this process, you can likely manage your financial life a little better and avoid situations that involve overdrafts or bounced checks.

Interested in opening an online bank account? When you sign up for a SoFi Checking and Savings account with eligible direct deposit, you’ll get a competitive annual percentage yield (APY), pay zero account fees, and enjoy an array of rewards, such as access to the Allpoint Network of 55,000+ fee-free ATMs globally. Qualifying accounts can even access their paycheck up to two days early.

FAQ

What is the difference between a cleared balance and an available balance?

A cleared balance (or cleared funds) and an available balance are the same thing. They both refer to the amount of money in your account that is available for immediate withdrawal or use.

How long does it take to get money cleared?

Some deposits clear as soon as the same day, but most generally clear the next business day. In some cases, though, a deposit can take as long as nine days to clear. Check with your bank to learn their timelines.

Can you reverse a cleared check?

Once a check has cleared, there is little that can be done to reverse the transaction. If, however, a cleared check found is to be fraudulent, it may be possible for a bank to intervene.

About the author

Jacqueline DeMarco

Jacqueline DeMarco is a freelance writer who specializes in financial topics. Her first job out of college was in the financial industry, and it was there she gained a passion for helping others understand tricky financial topics. Read full bio.

Photo credit: iStock/RgStudio

SoFi® Checking and Savings is offered through SoFi Bank, N.A. ©2026 SoFi Bank, N.A. All rights reserved. Member FDIC. Equal Housing Lender.

Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 5/28/26. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet

Eligible Direct Deposit means a recurring deposit of regular income to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government benefit payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Eligible Direct Deposit”) via the Automated Clearing House (“ACH”) Network every 31 calendar days.

Although we do our best to recognize all Eligible Direct Deposits, a small number of employers, payroll providers, benefits providers, or government agencies do not designate payments as direct deposit. To ensure you're earning the APY for account holders with Eligible Direct Deposit, we encourage you to check your APY Details page the day after your Eligible Direct Deposit posts to your SoFi account. If your APY is not showing as the APY for account holders with Eligible Direct Deposit, contact us at 855-456-7634 with the details of your Eligible Direct Deposit. As long as SoFi Bank can validate those details, you will start earning the APY for account holders with Eligible Direct Deposit from the date you contact SoFi for the next 31 calendar days. You will also be eligible for the APY for account holders with Eligible Direct Deposit on future Eligible Direct Deposits, as long as SoFi Bank can validate them.

Deposits that are not from an employer, payroll, or benefits provider or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, Wise, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, or are non-recurring in nature (e.g., IRS tax refunds), do not constitute Eligible Direct Deposit activity. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. SoFi Bank shall, in its sole discretion, assess each account holder's Eligible Direct Deposit activity to determine the applicability of rates and may request additional documentation for verification of eligibility.

See additional details at https://www.sofi.com/legal/banking-rate-sheet.
We do not charge any account, service, or maintenance fees for SoFi Checking and Savings. We do charge transaction fees for outgoing wire transfers, Instant Transfers, and global remittance transfers. Our fee policy is subject to change at any time. See the SoFi Bank Fee Sheet for details at sofi.com/legal/banking-fees/.
^Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.

*Awards or rankings from Forbes are not indicative of future success or results. This award and its ratings are independently determined and awarded by their respective publications.


¹SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at SoFi.com/banking/fdic/sidpterms. See list of participating banks at SoFi.com/banking/fdic/participatingbanks.

Tax Information: This article provides general background information only and is not intended to serve as legal or tax advice or as a substitute for legal counsel. You should consult your own attorney and/or tax advisor if you have a question requiring legal or tax advice.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.

SOBNK-Q226-130

Saving money can be a challenge, especially for those with a lower household income. To help individuals and families with lower incomes save, some financial institutions offer a type of bank account known as a micro savings account.

A micro savings account works similarly to a traditional savings account, but it’s designed for consumers who can only make small deposits. It can also be helpful for those who find that stashing away small amounts suits them. Regardless of your income, if micro saving suits your financial style, it can be a win-win.

What Is a Micro Savings Account?

A micro savings account (also sometimes seen written as microsavings account) is a savings account that can help meet the financial needs of consumers with smaller household incomes. It can also suit any saver who likes to tuck away small amounts here and there.

A micro savings account works a bit differently from how a savings account works at most financial institutions. Micro savings accounts typically don’t have a minimum deposit requirement, don’t charge service fees, and are more flexible regarding the possible number of withdrawals.

Many financial institutions that offer micro savings accounts encourage consumers to make small, frequent deposits to build up savings over time. They often have educational initiatives in place to help guide micro savings account holders towards meeting this goal.

Benefits of Micro Savings Accounts

The following benefits are typically associated with micro savings accounts:

• Low-risk savings account that can earn interest

• Little to no upfront costs

• No credit checks required for new account holders

• Lower or fewer fees or no fees at all

• No minimum account balance requirements

• More flexible withdrawal limits

Disadvantages of Micro Savings Accounts

There aren’t any real disadvantages associated with micro savings accounts. That said, here are a few small downsides worth considering.

• Savings accounts tend to have a smaller return than other forms of investing (such as a CD vs. a savings account).

• Micro savings accounts can be harder to find than normal savings accounts.

What Are Micro Savings Accounts Used For?

Here’s a closer look at what micro savings accounts are typically used for.

Creating a Regular Savings Habit

Micro savings accounts can help savers boost their liquid assets at an incremental level while giving them the chance to earn interest on their savings. Financial institutions offer micro savings accounts to help encourage good saving habits. These accounts can help remove barriers to saving for those who can’t afford to put away a lot of money. They can also suit those who like to save a little money here and there.

Saving Money Consistently in Smaller Amounts

One of the ideas that drives micro savings accounts is the concept that consistently saving small amounts of money can add up and make an impact. It may not seem worthwhile at first glance, but setting aside $10 a week can help make a difference. That sum can begin to build a savings fund that can help consumers meet their financial goals or avoid taking on debt when unexpected expenses arise.

Keeping Savings Separate

Storing money in a checking account makes it a lot harder to ignore when spending temptations arise. Keeping money stored in a savings account (where it can grow slowly but surely if not touched) can make it easier to keep it separate from spending money.

Maybe you are saving for a vacation, or you need a new washer/dryer. Whatever your goal is, when you are ready to spend money from a savings account, the funds will be there for the taking.

Managing Money Through a Mobile App

Today, lots of people love the convenience of using apps for P2P transfers and other activities. This is also available with the many micro savings accounts that can be managed through mobile banking accounts. These can make it simpler to monitor spending and saving.

There are also micro savings apps (such as Acorns) that have automated savings features, including round-ups, that make it easier to save small amounts of money.

Alternatives to Micro Savings Accounts

If you don’t find a micro savings account that meets your needs, there are alternative savings options that can offer similar benefits. Here are two options worth considering:

• Credit unions: Because credit unions are member-owned, unlike for-profit financial institutions such as banks, they tend to charge fewer fees and offer higher interest rates on savings. Applying to a credit union where you can consider opening a checking vs. savings account (or perhaps both) may be able to replace the purpose of a micro savings account.

• High-yield savings accounts: High-yield savings accounts operate similarly to traditional savings accounts, but they tend to offer a higher interest rate on deposits.

A high-yield savings account is a great way to take advantage of the power of compound interest and help your money grow faster.

These savings accounts can often be found through online banks. Because these institutions don’t have the overhead of brick-and-mortar locations, they may be able to afford to offer higher interest rates.

You don’t have to do anything differently than you would with a normal savings account to earn this extra interest. You can add small deposits as funds become available.

The Takeaway

Saving money is hard and requires a lot of discipline. Micro savings accounts are designed to help those with lower incomes or who simply like to save little by little. These accounts typically allow you to make small contributions, charge fewer (or no) fees, and have lower minimum balance requirements. Having the right savings account can make it easier to meet your financial goals.

Another way to save successfully: Open a high-yield bank account.

Interested in opening an online bank account? When you sign up for a SoFi Checking and Savings account with eligible direct deposit, you’ll get a competitive annual percentage yield (APY), pay zero account fees, and enjoy an array of rewards, such as access to the Allpoint Network of 55,000+ fee-free ATMs globally. Qualifying accounts can even access their paycheck up to two days early.

FAQ

How do I create a micro savings account?

Creating a micro savings account works the same as opening any type of savings account. First, you will need to open a bank account or just a savings account by filling out an application and providing the necessary identifying information and documentation. Once you’ve opened the account, you can start making contributions to the micro savings account.

What are the advantages of micro savings?

The main advantages of micro savings accounts are rooted in accessibility: These accounts tend to have no or lower account fees, have smaller or no minimum account balance requirements, and have more flexible withdrawal options. They make it easier to save with small contributions. Many financial institutions that offer micro savings accounts also offer educational initiatives and mobile banking apps to help people learn how to save more money.

Are micro savings apps worth it?

Yes, micro savings apps can be worth downloading, as they may help you achieve your savings goals. Alongside making it easier to track spending and saving habits, micro savings apps even have automated savings features that allow you to stash away small amounts of money.

About the author

Jacqueline DeMarco

Jacqueline DeMarco is a freelance writer who specializes in financial topics. Her first job out of college was in the financial industry, and it was there she gained a passion for helping others understand tricky financial topics. Read full bio.

Photo credit: iStock/princessdlaf

SoFi® Checking and Savings is offered through SoFi Bank, N.A. ©2026 SoFi Bank, N.A. All rights reserved. Member FDIC. Equal Housing Lender.

Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 5/28/26. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet

Eligible Direct Deposit means a recurring deposit of regular income to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government benefit payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Eligible Direct Deposit”) via the Automated Clearing House (“ACH”) Network every 31 calendar days.

Although we do our best to recognize all Eligible Direct Deposits, a small number of employers, payroll providers, benefits providers, or government agencies do not designate payments as direct deposit. To ensure you're earning the APY for account holders with Eligible Direct Deposit, we encourage you to check your APY Details page the day after your Eligible Direct Deposit posts to your SoFi account. If your APY is not showing as the APY for account holders with Eligible Direct Deposit, contact us at 855-456-7634 with the details of your Eligible Direct Deposit. As long as SoFi Bank can validate those details, you will start earning the APY for account holders with Eligible Direct Deposit from the date you contact SoFi for the next 31 calendar days. You will also be eligible for the APY for account holders with Eligible Direct Deposit on future Eligible Direct Deposits, as long as SoFi Bank can validate them.

Deposits that are not from an employer, payroll, or benefits provider or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, Wise, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, or are non-recurring in nature (e.g., IRS tax refunds), do not constitute Eligible Direct Deposit activity. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. SoFi Bank shall, in its sole discretion, assess each account holder's Eligible Direct Deposit activity to determine the applicability of rates and may request additional documentation for verification of eligibility.

See additional details at https://www.sofi.com/legal/banking-rate-sheet.
We do not charge any account, service, or maintenance fees for SoFi Checking and Savings. We do charge transaction fees for outgoing wire transfers, Instant Transfers, and global remittance transfers. Our fee policy is subject to change at any time. See the SoFi Bank Fee Sheet for details at sofi.com/legal/banking-fees/.
^Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.

*Awards or rankings from Forbes are not indicative of future success or results. This award and its ratings are independently determined and awarded by their respective publications.


¹SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at SoFi.com/banking/fdic/sidpterms. See list of participating banks at SoFi.com/banking/fdic/participatingbanks.

Tax Information: This article provides general background information only and is not intended to serve as legal or tax advice or as a substitute for legal counsel. You should consult your own attorney and/or tax advisor if you have a question requiring legal or tax advice.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.

SOBNK-Q226-120