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How Much Should I Spend on Groceries a Month?

How much you spend on groceries each month will depend on the number of people in your household, your lifestyle, even your dietary preferences. There’s no way around the fact that food is a significant line item in any budget, but there are ways to spend less at the store without resorting to beans and rice or ramen noodles every day (getting takeout doesn’t count).

Whether eating at home or in a restaurant, it’s helpful to give yourself some guidelines so that you and your bank accounts are on good terms. We cover several rules of thumb for how much to spend on food a month so you can better ensure you’re staying on track with your budget.

Key Points

•   The average U.S. household spends $7,316 on food annually, which is about $609.67 per month.

•   The U.S. Department of Agriculture provides monthly food budgets at different price levels to help determine your own grocery spending.

•   Household size, age, and dietary restrictions can affect the amount spent on groceries each month.

•   The USDA budgets assume all meals are prepared at home, and costs vary by age, gender, and family size.

•   Strategies like meal planning, using coupons, freezing meals, and shopping at discount grocery stores can help reduce food spending.

What Is the Average Cost of Groceries Per Month?

The average U.S. household spends $7,316 on food every year, according to a recent Bureau of Labor Statistics (BLS) consumer expenditure survey. That amount — about $609.67 a month, or $152.42 each week — represents nearly 12% of consumers’ income.

A note on inflation: The BLS report used data from 2021. The subsequent year saw food prices increase by a staggering 11% (typically, food prices rise about 2% annually). Over the next year, food prices are projected to rise between 5% and 10% — something to keep in mind as you compare your grocery bill to the national average.

Of course, the amount people spend on sustenance can vary widely, depending on age, household size, dietary restrictions and where they live. For instance, the consumer expenditure survey noted that single-parent family households with children spent more on food compared to single folks. Your eating habits, including how often you dine out or order in as well as a penchant for impulse grocery buys, also affect your bottom line.

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What Should My Monthly Grocery Budget Be?

When it comes to how much you should spend on groceries each month, the answer will depend on your situation. However, you can use the following guidelines to help you develop a reasonable monthly allowance for your grocery budget.

By USDA Guidelines

The U.S. Department of Agriculture offers a series of monthly food budgets that represent the cost of a healthy diet at four price levels: thrifty, low cost, moderate cost and liberal. These budgets can serve as a benchmark against which you can measure your own monthly spending on food.

Keep in mind that the USDA assumes that all meals and snacks will be prepared at home, and that costs will vary by age, gender, and family size. It updates each plan to current dollars every month using the Consumer Price Index for food.

For example, in March 2023, the USDA pegs the monthly cost of food for a female who is 20 to 50 years old at $241 for the thrifty plan. For females ages 19 to 50, it’s $257 for the low-cost plan, $313 for the moderate-cost plan and $401 for the liberal plan.

The USDA budgets more for couples within the same age ranges. For instance, a household of two might spend $530 on a thrifty plan, $565 on a low-cost plan, $689 on a moderate-cost plan and $882 on a liberal plan.

By Household Size

Your household size should determine how much you spend on groceries each month. As you saw in the USDA guidelines above, different household sizes as well as the ages of individuals affected the amount spent on food each month.

Let’s say you are a family of four with one child aged 6 to 8 and another between the ages of 9 to 11. According to the USDA guidelines, you might spend $979 a month on a thrifty plan, $1,028 on a low-cost plan, $1,252 on a moderate-cost plan and $1,604 on a liberal plan.

The USDA guidelines can provide a starting point for a food budget, but they don’t consider all the variables that can affect cost. That’s why building a personal food budget while using these numbers as a benchmark is best. To do so, you can look at your past monthly spending on food and then compare that number to the USDA food budget guides.

If your spending is much higher than the USDA’s estimates, it’s essential to determine why. It could be due to unavoidable factors like where you live, or it may stem from discretionary decisions, such as eating out at restaurants. If it’s the latter, it may be helpful to look for ways to cut back on spending, so you can redirect money to other goals like building an emergency fund.

How Dining Out Fits Into the Equation

The USDA’s budgets only consider food prepared at home, yet a food budget will likely also need to account for meals eaten at restaurants. The BLS reports that the average household spends $5,259 a year on food at home and $3,030 a year on food away from home.

Eating at restaurants is more costly than preparing food at home, so restaurant spending can be an excellent place to start making cuts when looking for wiggle room in a food budget.

Strategies to Keep Track of Your Food Spending

There are a number of budgeting strategies that can help you keep track of your spending. Here are some to consider if you’re trying to keep better track of your food spending:

The 50/30/20 Rule

The 50/30/20 rule is a simple strategy for proportional budgeting that breaks down a budget into three categories of spending. Here’s how it works:

•   50% goes to essential needs. These are necessary expenses, such as rent, groceries, and health insurance.

•   30% goes to discretionary spending. These are fun purchases that you don’t technically need to survive.

•   20% goes to savings. The 50/30/20 method separates discretionary spending and saving for financial goals, such as retirement, a down payment on a house, or paying off debt faster.

The 50/30/20 rule is a relatively simple form of budgeting, so it can help individuals keep their eyes on the big picture and avoid getting bogged down in minute details. That said, because it isn’t detail-oriented, it can be hard to pinpoint problem areas, such as places where overspending occurs.

The Envelope Method

The envelope method seeks to make budgeting more concrete by limiting most spending to cash transactions. It works by allocating a set amount of cash each month to different spending categories, such as groceries or entertainment.

At the beginning of the month, write each category on individual envelopes. Decide how much you want to spend in each category for the month, and put enough cash to cover that amount in each respective envelope.

This method takes discipline. You can only use the cash in each envelope to make purchases in that category. When the money’s gone, it’s gone for the month. That means you can no longer do any spending in that category.

Zero-Based Budgeting

A zero-based budget is one in which you assign each dollar of your income a specific purpose. For example, you may decide to spend $1,000 on rent, $325 on food, $200 on student loan payments, $100 on savings and so on, until there are zero dollars left without a job to do. While this type of budget can take a lot of effort, it can help you think carefully about every dollar you spend and be mindful of setting aside savings.

By getting your budget on track with a checking and savings account with SoFi, you’ll have enough to work toward financial goals, like paying off student loans and saving for retirement.

Tips to Help Reduce Your Food Spending

Whether your food budget has gone out of control or you’re interested in spending less in general, there are several ways to lower your food budget.

Try Meal Prep

Shopping at a store without a plan can be a budget-buster, as it can lead to unneeded purchasing. To stay on track, create a meal plan that lays out breakfast, lunch, and dinner for every day of the week.

Once you’ve created a menu, check to see what ingredients are already in the kitchen. Make a list of the items you’re missing and the amounts that are needed. Buy only those items at the store.

Consider planning some meals that have overlapping ingredients, as buying ingredients in larger quantities can be cheaper. You’ll also want to consider preparing meals you like and can cook relatively quickly. That way, you’re not tempted to get takeout one day when you’re tired and don’t feel like cooking.

Take Advantage of Coupons

Using coupons can help buyers save money at the checkout counter. Grocery stores or major brands often offer discounts in coupons — look for them online, in a grocery store flier or in the mail.

Before you buy, however, make sure you actually need the food item. If there isn’t anyone in your household who will drink that carton of oat milk, it’s better to leave it on the shelf than to cash in your coupon.

While taking advantage of an individual coupon may not add up to much savings, using many coupons over time can start to open up space in your food budget. The same is true of buying store brands, which may be a dollar or two cheaper than their name-brand counterparts. Over time, and multiple purchases, those couple of dollars can add up to significant savings.

Freeze Meals

Having meals or ingredients ready in the freezer encourages you to eat at home instead of making the excuse of having nothing to eat in your house. It can be as simple as buying frozen vegetables, some form of protein or straight-up frozen meals (it’s still cheaper than dining out). You can even make your own freezer-ready meals by cooking additional portions of meals — eat some for dinner, then freeze the rest for later.

Shop at Discount Grocery Stores

The cost of food can vary widely from store to store, so consider visiting different stores to find budget-friendly prices. A great way to check if a grocery store offers lower prices is to look at their weekly flier. You’ll be able to find sales and other advertised goods and identify which stores offer the best deals on items you’re most likely to purchase.

Some stores may offer certain foods in bulk, such as grains, nuts, coffee, and dried fruit, which can be cheaper than buying the same packaged food items.

Getting a handle on how much you spend on food can help you build a larger household budget. That way, you may be able to set aside money for savings or other financial goals.

The Takeaway

As you can see, there’s no hard-and-fast rule for how much you should spend on groceries each month, as that varies based on your unique situation. However, everyone can likely benefit from giving their grocery budget a hard look and seeing if there’s anywhere they’re overdoing it.

Envelope and spreadsheet averse? Another way to track your grocery budget is with the SoFi money tracker app, which lets you easily set monthly spending targets and see where you’re spending the most.

See how your current food spending fits into your overall budget.



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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.

SoFi Relay offers users the ability to connect both SoFi accounts and external accounts using Plaid, Inc.’s service. When you use the service to connect an account, you authorize SoFi to obtain account information from any external accounts as set forth in SoFi’s Terms of Use. Based on your consent SoFi will also automatically provide some financial data received from the credit bureau for your visibility, without the need of you connecting additional accounts. SoFi assumes no responsibility for the timeliness, accuracy, deletion, non-delivery or failure to store any user data, loss of user data, communications, or personalization settings. You shall confirm the accuracy of Plaid data through sources independent of SoFi. The credit score is a VantageScore® based on TransUnion® (the “Processing Agent”) data.

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.

SoFi members with direct deposit activity can earn 4.60% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. Direct Deposit means a deposit to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Direct Deposit”) via the Automated Clearing House (“ACH”) Network during a 30-day Evaluation Period (as defined below). Deposits that are not from an employer or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, do not constitute Direct Deposit activity. There is no minimum Direct Deposit amount required to qualify for the stated interest rate.

SoFi members with Qualifying Deposits can earn 4.60% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Qualifying Deposits means one or more deposits that, in the aggregate, are equal to or greater than $5,000 to an account holder’s SoFi Checking and Savings account (“Qualifying Deposits”) during a 30-day Evaluation Period (as defined below). Qualifying Deposits only include those deposits from the following eligible sources: (i) ACH transfers, (ii) inbound wire transfers, (iii) peer-to-peer transfers (i.e., external transfers from PayPal, Venmo, etc. and internal peer-to-peer transfers from a SoFi account belonging to another account holder), (iv) check deposits, (v) instant funding to your SoFi Bank Debit Card, (vi) push payments to your SoFi Bank Debit Card, and (vii) cash deposits. Qualifying Deposits do not include: (i) transfers between an account holder’s Checking account, Savings account, and/or Vaults; (ii) interest payments; (iii) bonuses issued by SoFi Bank or its affiliates; or (iv) credits, reversals, and refunds from SoFi Bank, N.A. (“SoFi Bank”) or from a merchant.

SoFi Bank shall, in its sole discretion, assess each account holder’s Direct Deposit activity and Qualifying Deposits throughout each 30-Day Evaluation Period to determine the applicability of rates and may request additional documentation for verification of eligibility. The 30-Day Evaluation Period refers to the “Start Date” and “End Date” set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the “30-Day Evaluation Period”). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY. Upon receiving a Direct Deposit or $5,000 in Qualifying Deposits to your account, you will begin earning 4.60% APY on savings balances (including Vaults) and 0.50% on checking balances on or before the following calendar day. You will continue to earn these APYs for (i) the remainder of the current 30-Day Evaluation Period and through the end of the subsequent 30-Day Evaluation Period and (ii) any following 30-day Evaluation Periods during which SoFi Bank determines you to have Direct Deposit activity or $5,000 in Qualifying Deposits without interruption.

SoFi Bank reserves the right to grant a grace period to account holders following a change in Direct Deposit activity or Qualifying Deposits activity before adjusting rates. If SoFi Bank grants you a grace period, the dates for such grace period will be reflected on the APY Details page of your account. If SoFi Bank determines that you did not have Direct Deposit activity or $5,000 in Qualifying Deposits during the current 30-day Evaluation Period and, if applicable, the grace period, then you will begin earning the rates earned by account holders without either Direct Deposit or Qualifying Deposits until you have Direct Deposit activity or $5,000 in Qualifying Deposits in a subsequent 30-Day Evaluation Period. For the avoidance of doubt, an account holder with both Direct Deposit activity and Qualifying Deposits will earn the rates earned by account holders with Direct Deposit.

Members without either Direct Deposit activity or Qualifying Deposits, as determined by SoFi Bank, during a 30-Day Evaluation Period and, if applicable, the grace period, will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances.

Interest rates are variable and subject to change at any time. These rates are current as of 10/24/2023. There is no minimum balance requirement. Additional information can be found at https://www.sofi.com/legal/banking-rate-sheet.


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What Is Financial Wellness & How Do You Achieve It?

In theory, financial wellness is something we all want. But it also sounds a little vague and potentially complex. What exactly does it mean? And, how do you achieve it?

Simply put, financial wellness is the ability to lead a successful financial life. It’s being able to meet your basic needs and manage your money for both the short- and long-term. You can enhance your financial wellness by improving various aspects of your personal finances, including budgeting, saving, investing, managing debt, and planning for the future.

Surprisingly, achieving financial wellness isn’t just about having a substantial income; it’s about how effectively you manage and utilize your resources to build a secure financial future. That means anyone can get there, no matter where they are in their financial journey or how much money they have (or don’t). Read on for a closer look at financial wellness, including what it is, why it matters, and how to apply the basic elements of financial wellness to your own life.

Key Points

•   Financial wellness refers to the ability to lead a successful financial life, meeting basic needs and managing money for the shortand long-term.

•   It involves improving various aspects of personal finances, including budgeting, saving, investing, managing debt, and planning for the future.

•   Financial wellness is not solely dependent on income but on effectively managing and utilizing resources for a secure financial future.

•   It encompasses being able to manage current bills, pay debts, handle unexpected financial emergencies, and plan for long-term goals.

•   By addressing budgeting, savings, debt management, and investing, individuals can take proactive steps towards achieving financial wellness.

What Is Financial Wellness?

Financial wellness describes a condition in which you can manage your current bills and expenses, pay your debts, weather unexpected financial emergencies, and plan for long-term financial goals like saving for retirement and a child’s education. As defined by the Consumer Financial Protection Bureau, financial well-being (another term for financial wellness) is a condition in which “a person can fully meet current and ongoing financial obligations, can feel secure in their financial future, and is able to make choices that allow them to enjoy life.”

Just like overall “wellness” requires adopting practices — like exercising more and eating healthier foods — to help you live a better life, financial wellness is about adopting everyday money habits — like budgeting and saving — to secure your financial stability and freedom. Also like overall wellness, financial wellness is not an end state or final destination but, rather, a way to live day to day.

💡 Quick Tip: Make money easy. Open a bank account online so you can manage bills, deposits, transfers — all from one convenient app.

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Open a SoFi Checking and Savings Account with direct deposit and get up to a $300 cash bonus. Plus, get up to 4.60% APY on your cash!


The Four Elements of Financial Wellness

Financial wellness is often broken down into four key areas of your personal finances. While these elements can overlap, and one can affect another, you can achieve greater results by bringing each under control. By addressing each of these pillars of financial wellness, you can start improving your financial well-being.

1. Budgeting and Financial Planning

Creating a budget that aligns with your income, expenses, and financial goals lays the foundation for financial wellness. Budgeting enables you to allocate resources efficiently, prioritize expenses, and plan for short- and long-term financial goals.

2. Savings and Emergency Funds

Establishing a habit of creating and maintaining an emergency fund to cover unforeseen expenses allows you to build financial security. Having savings acts as a safety net during emergencies and ensures financial stability, since you won’t have to rely on high-interest credit cards or loans in the event of a financial set-back.

3. Debt Management

Effectively managing long-term debt, and eliminating high-interest consumer debt, are vital components of achieving financial well-being. This frees up funds that can then go towards savings and investing and, in turn, help reach your financial goals.

4. Investing for the Future

Investing is a key underpinning of financial wellness because it allows for wealth-building and long-term financial stability. When it comes to reaching your retirement goal, saving as much as possible and starting as early as possible can be keys to success.

7 Tips to Improving Your Financial Wellness

Maybe you don’t meet the definition of financial wellness right now. But that doesn’t mean you can’t get there. What follows are seven relatively simple steps that can help you improve your current and long-term financial health and security.

1. Set Clear Financial Goals

Building financial wellness requires coming up with systems for spending, savings and investing. But before you can focus on specific habits and strategies, it helps to have a sense of what your financial life is like now, and where you want it to be months and years down the road.

You may want to jot down some specific and realistic objectives, such as going on a vacation in three months, buying a house in two years, and being able to one day retire. Having clear short-, mid-, and long-term objectives can help you create a roadmap towards achieving them.

2. Create and Stick to a Budget

To achieve your goals, you’ll need to develop a realistic budget that considers your monthly income and expenses and also allows you to put some money towards savings and debt repayments (beyond the minimum) each month.

A budget is simply a plan for how you’ll direct funds toward all areas of your financial life, such as necessary expenses, discretionary (“fun”) purchases, debt payments, personal savings goals, and investing for retirement.

There are all different ways to budget — the best approach is the one you’ll stick with. One simple and popular budgeting framework is the 50/30/20 rule, in which you divide your monthly take-home income into three categories, spending 50% on needs, 30% on wants, and 20% on savings and extra debt payments.

3. Pay Yourself First

A simple way to make sure you achieve your monthly savings goal is to automatically transfer a set amount of money into a savings account each time you get paid — in other words, pay yourself first. If you wait to see what’s leftover after you pay your bills and do your shopping, you may not have much — or anything — to set aside.

To get started with saving, you may want to open a dedicated savings account then set up a recurring transfer from your checking account into that account on a set day each month (ideally, right after you get paid). You can base the transfer amount on the savings goal you set out in your budget.

If you want to earn a high rate and pay the lowest fees on your savings, consider storing your savings in an online account. Without the added expenses of large branch networks, online banks are typically able to offer more favorable returns than national brick-and-mortar banks.

💡 Quick Tip: Most savings accounts only earn a fraction of a percentage in interest. Not at SoFi. Our high-yield savings account can help you make meaningful progress towards your financial goals.

4. Build an Emergency Fund

If you don’t have one already, you’ll want to build an emergency savings fund that covers at least three to six months’ worth of living expenses. (If you’re self-employed or work irregularly, you may want to aim for six to 12 months’ worth of expenses.) This gives you a cushion should you lose your job or get hit with a large, unexpected expense — like a medical bill or major car or home repair.

Ideally, you’ll want to keep this money separate from your spending and other savings in an account that is accessible but pays a competitive yield, such as high-yield savings account or online savings account.

5. Protect Your Assets

While the emergency fund provides you with some protection, insurance provides more security in other situations. You’ll want to make sure you have adequate coverage when it comes to health, home, and auto insurance. This can offset large, sudden and unexpected expenses and losses, and reduce the possibility of going into debt.

You may get your health insurance through your employer. But with home and auto insurance, it often pays to shop around to find the best deal.

Recommended: Which Insurance Types Do Your Really Need?

6. Pay Off High-Interest Debts

If you’re paying only the minimum on your credit card balances, you may be spending thousands on interest. That leaves you with a lot less money to put into savings or investments to grow your wealth. Coming up with a plan to knock down — and eventually eliminate — high-interest consumer debt will help you save money in the long term and improve your overall financial health.

There are a number of strategies for reducing debt. One is the debt avalanche method, which prioritizes paying down your debts in order of the one with the highest interest rate to the one with the lowest, while still making the minimum payment on the other each month. Another approach is the debt snowball method, which involves paying down your debts in order from largest to smallest, while continuing to pay the minimum on the others each month.

7. Start Investing

The key to building a nest egg large enough to live on in retirement is to start investing regularly as early as you can. Even if you have a low salary and can only afford to put a small amount into your retirement account each paycheck, that money will go a lot further if you start now. That’s thanks, in part, to the power of compound interest, which is the interest your interest accumulates.

If your company has a 401(k) or other retirement savings plan, consider contributing a portion of each paycheck into that account. If your employer matches a portion of your contributions, even better — that’s free money toward your future.

What’s the Difference Between Financial Wellness vs. Financial Literacy?

Financial wellness and financial literacy are interconnected concepts, but they are not the same thing.

Financial wellness involves the overall state of a person’s financial health, encompassing their behaviors, attitudes, and actions towards money management. It includes actions like budgeting, saving, investing, and debt management. Achieving financial wellness requires applying financial knowledge effectively to attain financial stability and security.

Financial literacy, on the other hand, refers to possessing knowledge and understanding of financial concepts and principles, such as budgeting, investing, loans, and credit management. While financial literacy is essential, achieving financial wellness involves not only understanding these concepts but also implementing them effectively to manage finances and achieve financial goals.

The Takeaway

Financial wellness is about more than just the numbers in a bank account — it’s a holistic approach to managing your money that encompasses various elements of personal finance. People who are financially well can comfortably pay their bills and manage their monthly expenses, without living paycheck to paycheck. They can also set money aside for emergencies, as well as short- and long-term goals. They’re quick to bounce back from any financial setbacks because they have the right resources and strategies in place.

By integrating budgeting, saving, debt management, and investing into your overall financial strategy, you can take proactive steps towards financial wellness, paving the way for a more peace of mind now, and a more secure financial future.

Interested in opening an online bank account? When you sign up for a SoFi Checking and Savings account with 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.


Better banking is here with SoFi, NerdWallet’s 2024 winner for Best Checking Account Overall. Enjoy up to 4.60% APY on SoFi Checking and Savings.

FAQ

What is an example of financial wellness?

An example of financial wellness is an individual who consistently lives within their means, has minimal debt, regularly contributes to savings and retirement accounts, and has a well-thought-out financial plan to achieve their financial goals.

What’s the difference between financial wellness and financial well-being?

The terms financial wellness and financial well-being generally refer to the same thing — your ability to live within your means and manage your money in a way that gives you both satisfaction and peace of mind. It includes balancing your income and expenses, staying out of debt, and saving for the future.



SoFi members with direct deposit activity can earn 4.60% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. Direct Deposit means a deposit to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Direct Deposit”) via the Automated Clearing House (“ACH”) Network during a 30-day Evaluation Period (as defined below). Deposits that are not from an employer or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, do not constitute Direct Deposit activity. There is no minimum Direct Deposit amount required to qualify for the stated interest rate.

SoFi members with Qualifying Deposits can earn 4.60% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Qualifying Deposits means one or more deposits that, in the aggregate, are equal to or greater than $5,000 to an account holder’s SoFi Checking and Savings account (“Qualifying Deposits”) during a 30-day Evaluation Period (as defined below). Qualifying Deposits only include those deposits from the following eligible sources: (i) ACH transfers, (ii) inbound wire transfers, (iii) peer-to-peer transfers (i.e., external transfers from PayPal, Venmo, etc. and internal peer-to-peer transfers from a SoFi account belonging to another account holder), (iv) check deposits, (v) instant funding to your SoFi Bank Debit Card, (vi) push payments to your SoFi Bank Debit Card, and (vii) cash deposits. Qualifying Deposits do not include: (i) transfers between an account holder’s Checking account, Savings account, and/or Vaults; (ii) interest payments; (iii) bonuses issued by SoFi Bank or its affiliates; or (iv) credits, reversals, and refunds from SoFi Bank, N.A. (“SoFi Bank”) or from a merchant.

SoFi Bank shall, in its sole discretion, assess each account holder’s Direct Deposit activity and Qualifying Deposits throughout each 30-Day Evaluation Period to determine the applicability of rates and may request additional documentation for verification of eligibility. The 30-Day Evaluation Period refers to the “Start Date” and “End Date” set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the “30-Day Evaluation Period”). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY. Upon receiving a Direct Deposit or $5,000 in Qualifying Deposits to your account, you will begin earning 4.60% APY on savings balances (including Vaults) and 0.50% on checking balances on or before the following calendar day. You will continue to earn these APYs for (i) the remainder of the current 30-Day Evaluation Period and through the end of the subsequent 30-Day Evaluation Period and (ii) any following 30-day Evaluation Periods during which SoFi Bank determines you to have Direct Deposit activity or $5,000 in Qualifying Deposits without interruption.

SoFi Bank reserves the right to grant a grace period to account holders following a change in Direct Deposit activity or Qualifying Deposits activity before adjusting rates. If SoFi Bank grants you a grace period, the dates for such grace period will be reflected on the APY Details page of your account. If SoFi Bank determines that you did not have Direct Deposit activity or $5,000 in Qualifying Deposits during the current 30-day Evaluation Period and, if applicable, the grace period, then you will begin earning the rates earned by account holders without either Direct Deposit or Qualifying Deposits until you have Direct Deposit activity or $5,000 in Qualifying Deposits in a subsequent 30-Day Evaluation Period. For the avoidance of doubt, an account holder with both Direct Deposit activity and Qualifying Deposits will earn the rates earned by account holders with Direct Deposit.

Members without either Direct Deposit activity or Qualifying Deposits, as determined by SoFi Bank, during a 30-Day Evaluation Period and, if applicable, the grace period, will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances.

Interest rates are variable and subject to change at any time. These rates are current as of 10/24/2023. There is no minimum balance requirement. Additional information can be found at https://www.sofi.com/legal/banking-rate-sheet.


SoFi® Checking and Savings is offered through SoFi Bank, N.A. ©2023 SoFi Bank, N.A. All rights reserved. Member FDIC. Equal Housing Lender.
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.


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.

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How to Cash a Check Without a Bank Account

7 Ways to Cash a Check Without a Bank Account

If you have a bank account, cashing a check is a simple process; you just deposit it and can then use the funds once it’s cleared.

However, about 4.5% of American households don’t have a bank account, according to a recent study from the Federal Deposit Insurance Corporation. They must therefore rely on alternative methods to cash a check. These workarounds can take a bit of time and energy, but can help you access cash if you are in this situation.

Here, you’ll learn about how you can cash a check if you don’t have a bank account or can’t use it for some reason. You’ll find out the pros and cons of each technique, as well as some important information about using checks and checking accounts.

Key Points

•   Cashing a check at the issuing bank is a convenient option, but it may not be available at all banks and fees could be charged.

•   Cashing a check at a retailer is a convenient option, but it’s important to consider the fees and potential cash limits that may apply.

•   Payday lending stores offer check cashing services, but it’s advisable to use them as a last resort due to their high fees.

•   Depositing a check onto a prepaid debit card is a convenient option, but it’s important to be aware of the fees and the waiting period for funds to clear.

•   Employer-sponsored payroll debit cards provide a convenient way to deposit paychecks, but it’s important to consider any additional fees that may be associated with these cards.

7 Places Where You Can Cash a Check

There are several ways to cash a check if you don’t have a bank account. Some of these alternatives may come with fees or extra legwork. And some may have restrictions on the dollar amount they will cash. Here’s a closer look at the different ways you can cash a personal or business check without a bank account.


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1. Cash the Check at the Issuing Bank

Look at the check to see which bank issued it and if there is a brick-and-mortar branch near you. Sometimes that bank will allow a non-customer to cash a personal check without a bank account if the payee comes in person. The teller can usually determine whether funds are available. The same often holds true for business checks.

•  Those that do provide this service often charge a flat fee (say, $8) or percentage of the check amount.

•  Some large banks will cash a check under a certain amount, $5,000 for example, without a fee.

•  Worth noting: If a bank does collect a fee, it may try to persuade the non-customer to open an account to avoid paying that charge.

2. Cash at a Retailer

Where else can you cash a check without a bank account? Several retailers such as Walmart and some grocery-store chains offer check-cashing services through their customer-service departments, usually for a flat fee based on the size of the check. For instance, at Walmart, there is a $4 fee for checks of up to $1,000 and a $8 fee for those over $1,000.

The amount charged and restrictions on the types of checks cashed will vary, however. For this reason, it’s important to check with each retailer in your area that offers this service to find one that works for your situation.

3. Payday Lending Store

Stand-alone check-cashing and payday-lending stores will cash many types of checks of varying amounts. However, the problem with payday loan check cashing services is that they are often the most expensive, charging a percentage of the check amount as well as a flat fee. For many people, this is best thought of as a last-chance option.


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4. Prepaid Debit Cards

Some banks and financial institutions allow unbanked consumers to deposit checks directly to a prepaid debit card. Some big banks allow you to use their ATM system to deposit checks onto the card for a monthly service fee.

In other cases, using an app, you can use your smartphone to take pictures of your checks and deposit them into any type of account, including a prepaid card. This is often free, but you may have to wait up to 10 days before the funds from the check are available. In some cases, you can pay a relatively large fee, usually about 2% to 5% of the check value, for quicker access to the funds.

5. Employer-Sponsored Payroll Debit Card

Some large employers have programs that allow you to deposit your paycheck directly onto a reusable debit card. Be sure to look at the various types of fees associated with these cards. You may wind up paying overdraft, ATM, transfer, and inactivity fees in addition to general service fees.

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6. Sign Your Check Over to Someone Else

Another option would be to sign a check over to a trusted friend or relative. This person could then deposit the check in their account and withdraw the funds, once available, and give them to you.

This is a simple process. Some verification is involved, and then you usually just need to write “Pay to the order of” and the name of the person on the back of the check and then sign it. However, it’s vital that this person can be relied upon to give you the cash.

7. Check Cashing Outlet

If you need to cash a check without a bank account, you could also visit a check cashing outlet. This can be expensive, though: Fees can be around 10% of the check’s value.

Here, consider the pros and cons of each in chart form:

Method

Pros

Cons

Cash at Issuing BankConvenienceNot all banks offer this; may charge fees
Cash at a retailerConvenienceFees; may be a cap on the dollar amount that can be cashed
Payday Lending StoreConvenienceMay charge very high fees
Prepaid Debit CardsConvenienceFees; wait time for funds to clear
Employer-Sponsored Payroll Debit CardConveniencePotential fees
Sign Over Your CheckConvenience; typically no feesMust trust person who receives check; must wait for check to clear
Check Cashing OutletConvenienceMay charge very high fees

What to Consider Before Cashing a Check

To help determine which check-cashing option is best for you, keep the following in mind.

Check Amount

In general, larger checks are harder and more expensive to cash without a bank account than smaller sums. Walmart, for instance, will usually only cash checks up to $5,000 or $7,500.

Check-cashing stores may have similar limits, or higher fees for larger checks. For large checks, depositing into a prepaid debit card may be the best option.

Fees

As we’ve seen above, almost every non-bank checking service entails fees when cashing your check. They can vary widely, with check-cashing and payday-lending stores usually being the most expensive.

It can pay to look for the least expensive alternative in your area, especially if you are able to access the bank that issued the check.

Identification Requirements

To show that the check rightfully belongs to you, you’ll need to show at least one form of government-issued identification, such as a license or passport. With large checks, you may be required to show two forms of ID.

Recommended: How to Write a Check to Yourself

Personal Checks

Personal checks can be more difficult to cash without a bank account than government-issued or payroll checks. Many check-cashing stores won’t accept any personal checks, and retailers may have lower limits on how much they’ll cash, usually a couple hundred dollars.

Here’s one workaround: Ask the person writing you the personal check to send a money order or cashier’s check instead.

Can You Cash a Check Without ID?

To cash a check without ID, you have a few options:

•  Check with your bank or the issuing bank and see if they will allow you to cash it without identification or with an alternative method of identification.

•  Sign the check over to someone else, have them cash it, and give you the funds.

•  Deposit the check (provided you have an account), wait for it to process, and then withdraw the funds.

•  Use ATM check cashing, if possible.

Recommended: What Is an E-Check?

How to Cash a Large Check Without a Bank Account

The methods for cashing a large check without a bank account are similar to methods for cashing any other check. You will likely want to be a bit more cautious and double-check the process in advance:

•  Sign the check over to a trusted friend or relative

•  Visit a check-cashing outlet.

Opening a Bank Account

Cashing a check without a bank account can often be costly and inconvenient. After exploring the options above, you may find that your best option for the long term involves opening a bank account. A bank account makes saving and spending easy, safe and flexible. Some points to consider when opening an account:

•  What do you need to open a checking account? You’ll usually need to make sure you qualify for an account, have an ID, and be willing to share basic personal information such as your birthdate, address, phone, social security number, etc. You’ll also need an initial deposit, which can often be as little as $25.

•  Keep in mind, most banks have a minimum age to open a bank account; they won’t allow those under 18 to have an account without a parent or guardian as the joint owner.

•  If you have a history of banking issues, such as unpaid overdraft fees, you may not qualify for a traditional checking account. Instead, you may want to consider what’s known as a second-chance account, offered by many lenders. These accounts often charge a monthly fee and come with more restrictions than a traditional checking account. That said, many allow solid customers the opportunity to convert to a regular checking account in six months to a year.

The Takeaway

It is possible to cash a check without a bank account. Options include signing the check over to a trusted friend to cash it and give you the funds; seeing if the issuing bank will cash it; using the check to buy prepaid debit cards; and other tactics.

That said, opening a bank account can be a simple process and can provide not just check cashing but the foundation for your daily financial life.

Interested in opening an online bank account? When you sign up for a SoFi Checking and Savings account with 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.


Better banking is here with SoFi, NerdWallet’s 2024 winner for Best Checking Account Overall. Enjoy up to 4.60% APY on SoFi Checking and Savings.

FAQ

Can I cash a $5000 check without a bank account?

You will likely be able to cash a $5000 check at a retailer, such as Walmart, or at a check cashing outlet. Inquire about fees, though, before proceeding to be sure you are prepared.

How can I cash a large check immediately?

To cash a large check immediately, try your bank if you have one or the bank that issued the check. You might also be able to cash it by signing it over to a friend or relative who can give you the cash once it clears; buying prepaid debit cards with it; or going to a check cashing outlet.

What bank will cash a check without an account?

It’s often best to go to the bank that issued the check and see if they will cash it. They will be able to verify that the funds are available and may be willing to give you the money.


Photo credit: iStock/AndreyPopov

SoFi® Checking and Savings is offered through SoFi Bank, N.A. ©2023 SoFi Bank, N.A. All rights reserved. Member FDIC. Equal Housing Lender.
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.


SoFi members with direct deposit activity can earn 4.60% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. Direct Deposit means a deposit to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Direct Deposit”) via the Automated Clearing House (“ACH”) Network during a 30-day Evaluation Period (as defined below). Deposits that are not from an employer or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, do not constitute Direct Deposit activity. There is no minimum Direct Deposit amount required to qualify for the stated interest rate.

SoFi members with Qualifying Deposits can earn 4.60% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Qualifying Deposits means one or more deposits that, in the aggregate, are equal to or greater than $5,000 to an account holder’s SoFi Checking and Savings account (“Qualifying Deposits”) during a 30-day Evaluation Period (as defined below). Qualifying Deposits only include those deposits from the following eligible sources: (i) ACH transfers, (ii) inbound wire transfers, (iii) peer-to-peer transfers (i.e., external transfers from PayPal, Venmo, etc. and internal peer-to-peer transfers from a SoFi account belonging to another account holder), (iv) check deposits, (v) instant funding to your SoFi Bank Debit Card, (vi) push payments to your SoFi Bank Debit Card, and (vii) cash deposits. Qualifying Deposits do not include: (i) transfers between an account holder’s Checking account, Savings account, and/or Vaults; (ii) interest payments; (iii) bonuses issued by SoFi Bank or its affiliates; or (iv) credits, reversals, and refunds from SoFi Bank, N.A. (“SoFi Bank”) or from a merchant.

SoFi Bank shall, in its sole discretion, assess each account holder’s Direct Deposit activity and Qualifying Deposits throughout each 30-Day Evaluation Period to determine the applicability of rates and may request additional documentation for verification of eligibility. The 30-Day Evaluation Period refers to the “Start Date” and “End Date” set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the “30-Day Evaluation Period”). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY. Upon receiving a Direct Deposit or $5,000 in Qualifying Deposits to your account, you will begin earning 4.60% APY on savings balances (including Vaults) and 0.50% on checking balances on or before the following calendar day. You will continue to earn these APYs for (i) the remainder of the current 30-Day Evaluation Period and through the end of the subsequent 30-Day Evaluation Period and (ii) any following 30-day Evaluation Periods during which SoFi Bank determines you to have Direct Deposit activity or $5,000 in Qualifying Deposits without interruption.

SoFi Bank reserves the right to grant a grace period to account holders following a change in Direct Deposit activity or Qualifying Deposits activity before adjusting rates. If SoFi Bank grants you a grace period, the dates for such grace period will be reflected on the APY Details page of your account. If SoFi Bank determines that you did not have Direct Deposit activity or $5,000 in Qualifying Deposits during the current 30-day Evaluation Period and, if applicable, the grace period, then you will begin earning the rates earned by account holders without either Direct Deposit or Qualifying Deposits until you have Direct Deposit activity or $5,000 in Qualifying Deposits in a subsequent 30-Day Evaluation Period. For the avoidance of doubt, an account holder with both Direct Deposit activity and Qualifying Deposits will earn the rates earned by account holders with Direct Deposit.

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Interest rates are variable and subject to change at any time. These rates are current as of 10/24/2023. There is no minimum balance requirement. Additional information can be found at https://www.sofi.com/legal/banking-rate-sheet.


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37 Places to Sell Your Stuff

Guide to Selling Used Items

Offloading your used items can do you good on a couple of fronts. You can declutter your home, help fight waste (since you’re not just throwing things out), and you can make money by selling your still-useful stuff.

Whether you are getting rid of clothing, shoes, bags, furniture, housewares, books, electronics, or anything else, you can probably find a platform to help you get the job done. Some ways to sell are online, others aren’t, but all can do their part to connect your items with buyers. And get some additional cash flowing your way.

Here’s a guide to dozens of places that can help you sell your used items.

Key Points

•   Online platforms like eBay, Facebook Marketplace, and Craigslist provide convenient ways to sell used items.

•   Specialized platforms like Poshmark for clothing or Decluttr for electronics offer targeted selling options.

•   Local consignment stores and thrift shops can be good options for selling used items in person.

•   Hosting a garage sale or participating in community flea markets can help sell multiple items at once.

•   Utilizing social media platforms and local buy/sell/trade groups can connect you with potential buyers in your area.

36 Places Where You Can Sell Your Stuff

If you have items you no longer want or need, and you’re looking to make some extra money, why not kill two birds with one stone? You might do this on a regular basis to keep your place (especially your closets) streamlined, or it could help you out at a moment when you are living paycheck to paycheck.

The following resale apps, sites, and stores may be able to help. Some of these services are free to list and sell, some take a percentage of profits, some pay cash outright, and others consign (meaning they sell your stuff and pay you once it sells).

1. Craigslist

One of the original online marketplaces, Craigslist (Craigslist.org) , is where you can sell used things. You can list all sorts of things, from tools to toys to DVDs to antiques (and much more) for free.

2. Facebook Marketplace

Facebook Marketplace makes it easy to sell items in your local area. It’s free to create a listing that can be seen by anyone on and off Facebook. You can also choose to post your listings to any “Buy and Sell” Groups you’re a member of.

However, a word of caution: Facebook Marketplace and other similar platforms can be used for banking scams. Read up on common ploys and proceed with caution when selling this way.

3. Amazon

While you may think that Amazon is where you can buy new things, there are also a lot of opportunities to list used items, especially books. Current pricing can be $39.99 a month plus selling fees, so you will likely want to be confident you can sell more than that before enrolling.

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4. eBay

The original selling platform, eBay can still be a good way to sell your stuff, especially if you want to reach buyers from around the world who are looking to save money daily. Or it can be a huge help if you’re looking to unload an unusual item (there is almost nothing you can’t sell on eBay). But you may want to keep an eye out for selling fees, which may include a listing fee, a percentage of the sales prices, and possibly other fees.

One example of fees: For most categories, you will pay 35 cents per listing and, when an item sells, you will owe 13.255 of the total sales amount up to $7,500. If the item’s price is higher than that, you’ll pay an additional 2.35% on the overage.

5. OfferUp

Developed as a locally-driven platform, OfferUp is another good bet for selling used things. It allows you to sell to someone local, or ship an item to a buyer who lives anywhere in the US. Most items are free to post. When you sell a shipped item on the site, you may be charged a fee that is 12.9% of the sale price, with a minimum of $1.99.

6. Poshmark

Primarily a site for selling used clothing, Poshmark also lets you list home decor, jewelry, and beauty products. For sales you make under $15, Poshmark takes a flat commission of $2.95. If you make a sale that’s worth $15 or more, it takes 20%.

7. Etsy

Etsy may be best known as a platform for artists to sell their handmade goods and launch a low-cost side hustle. But the site also allows you to list some used goods. However, you can only resell in the “Vintage” and “Craft Supplies” categories. There is a listing fee of 20 cents per item, and, when you sell an item, there’s a transaction fee of 6.5% of the price, plus the amount you charge for shipping and gift wrapping.

8. thredUP

An online consignment and thrift store, thredUP sells thousands of major brands. You can send your gently used clothing directly to the service. If they accept (and sell) your clothing, you can choose from cash or credit.

A $2.99 Clean Out Kit fee and a service charge of $14.99 or higher may be assessed when you send in your clothes.

💡 Quick Tip: If you’re saving for a short-term goal — whether it’s a vacation, a wedding, or the down payment on a house — consider opening a high-yield savings account. The higher APY that you’ll earn will help your money grow faster, but the funds stay liquid, so they are easy to access when you reach your goal.

9. eBid

Like eBay, you can sell just about anything on eBid, either for auction or at a fixed price. eBid is organized into three tiers of selling, with different membership costs and selling fees. eBid may or may not wind up costing you less than other selling platforms, depending on how much you will sell and at what price.

10. Bookoo

Another platform for selling stuff locally is Bookoo, which doesn’t charge any listing or selling fees. Bookoo may not be as well known as other sites, but it is available in nearly every state throughout the U.S.

11. Vinted

If you have a lot of gently used clothes, shoes, and accessories to sell, you may want to check out Vinted (Vinted.com), a peer-to-peer online marketplace that focuses on vintage and second-hand fashion. And, for sellers, it’s free. Buyers pay a “protection fee,” typically 5% of the purchase price plus 70 cents.

12. Vestiaire Collective

If you have luxury items you want to sell, you may want to try Vestiaire Collective, a resale website where you can buy and sell high-end clothing, handbags, and accessories. When you sell an item, you can usually keep up to 85% of your money from the sale, minus a payment processing fee (usually 3%).

Get up to $300 when you bank with SoFi.

Open a SoFi Checking and Savings Account with direct deposit and get up to a $300 cash bonus. Plus, get up to 4.60% APY on your cash!


13. TheRealReal

TheRealReal is a luxury consignment site where you can drop off or ship designer clothing, accessories, and jewelry, as well as fine art and upscale home decor. They sell your items for you in exchange for a percentage of the profit.

Recommended: Ways to Make Money Online

14. Rebag

If you have a designer bag that you no longer want, you might consider selling it on Rebag, a site that’s focused on buying, selling, and trading luxury handbags. The site will let you know how much your bag is worth. If you like the offer, you can send them your bag with no shipping charges. Once it’s received and approved, you’ll get your payment.

15. Bag Borrow or Steal

Another site for selling luxury handbags is Bag Borrow or Steal. You can sell directly to the site (and get paid right away), or you can consign and receive 70% of the sales price after it’s sold.

16. PreOwned Wedding Dresses

If you aren’t sentimental about keeping your wedding dress, bridal party gown, or accessories, then you can list it on PreOwnedWeddingDresses.com, with a $25 listing fee and an 80% payout of the sale price when someone buys it.

17. Garage Sales

If your goal is to unload a large amount of stuff all at once, hosting a garage sale can be a good way to go. You could even get some neighbors together and hold a community garage sale to attract more people.

Just be sure to double-check community guidelines first to see if a permit is required.

18. Flea Markets

Community flea markets can be a great way to sell unwanted things. The owner and operator of the flea market will likely charge you a fee for a booth. If you live in a big city, you may have to register early to get a spot.

19. Buffalo Exchange

Buffalo Exchange is a vintage and used clothing store with locations throughout the U.S. If one of their stores is convenient to you, you can make an appointment to meet with a buyer. If they like your stuff, they will pay 25% of their selling price in cash or 50% in store credit. (Using that store credit could prove to be a good way to save money on clothes.)

20. Crossroads Trading

Crossroads Trading is a second-hand clothing store with brick-and-mortar locations throughout the U.S. If you visit a store, you may be able to receive cash for your clothing on the spot. For higher-end pieces, you can opt to consign. Crossroads also offers mail-in service.

21. Plato’s Closet

You can bring your gently used brand-name clothing and accessories to a Plato’s Closet near you. They’ll review your items and, if accepted, you’ll get paid on the spot.

22. Style Encore

A women’s resale store, you can bring in stylish, gently used clothes, shoes, handbags, and accessories to one of Style Encore’s retail locations. If they (style-encore.com) like your items, you will get paid right away in cash.

23. Once Upon a Child

If you have gently used children’s clothing and shoes, toys, and/or baby gear lying around, you may want to cart it over to Once Upon a Child, which has locations throughout the U.S. An employee will check out your goods and, if they think they sell them, will give you cash in return.

Recommended: Weird Ways to Make Money

24. Play It Again Sports

If you live near Play it Again Sports, you may want to consider bringing in all the no-longer-used sports equipment in your garage. You’ll clear out the space, and may get a nice amount of cash in return.

25. Music Go Round

Live in a musical household? Music Go Round is a resale music shop where you can bring in used instruments and sound equipment (like amps, MIDI equipment, and mixers) and get paid cash in return.

26. Local Thrift Stores

Unlike Goodwill or Salvation Army which accept donations, thrift stores — specifically ones that sell high-end or vintage clothing — might be willing to buy your clothes and other items. Look up local stores, and ask them what they buy and how much they typically pay.

27. Used Book Stores

Your local used book stores may be looking to purchase your books from you. You can call ahead, let them know what you have, and see if they are interested. You might wind up selling your old things for cash.

28. BookScouter

If you’re looking to sell textbooks, you may want to check out BookScouter. The platform simplifies the process by searching sites that buy used textbooks, then displaying the prices from those sites, so you can compare and decide where to sell your books.

29. GoTextbooks

GoTextbooks also allows you to sell your college textbooks and hopefully recoup some of the money you spent on them. When you let the site (sellback.gotextbooks.com/) know about what you have for sale, they will give you an instant quote. You can then ship your books for free and receive your money.

30. DeCluttr

If you mainly have electronics to sell, you may want to check out DeCluttr, which buys used tech, cell phones, DVDs, and video games. The site will give you an instant valuation. If you like the price, you can ship your item for free. If it meets expectations, you receive payment a few days later.

31. Gazelle

You may be able to turn your old cell phone into some quick cash at Gazelle. The site will give you an instant quote. If you like the numbers, you can ship the phone to them for free, and get paid via Amazon Gift Card, PayPal, or check.

32. Pawn Shop

You may be able to make some quick money selling your old stuff to a local pawn shop. Typically, pawn shops are only interested in things of value, such as jewelry, collectible coins, and electronics. It can be a good idea to bring in proof of purchase so that the owner knows you aren’t trying to sell stolen goods.

33. Facebook Groups

If you’re in any local or niche Facebook groups, you may want to post items that might appeal to members of the group. You simply need to snap a picture, describe your item, set your asking price, and see what offers you get.

34. Nextdoor

Nextdoor is a network of local community websites and can be a good place to post items. You click on the “Sell or give away an item” option when posting and can set your terms. While the number of people who are in a particular area’s community will vary, Nextdoor does have approximately 37 million active users, so you just might find a buyer.

35. Instagram

If you have a fair number of followers on Instagram, you might consider listing items you’re looking to sell there. As with Facebook groups, you simply need to snap a photo, write a brief description, and name your price. Or, you can go the more professional route and integrate Instagram’s shopping tools.

36. A “Raid My Closet” Event

Do you have friends who might be interested in checking out what you have for sale? You may want to consider inviting them over for a “raid my closet” event, or a “raid my garage” party. You can offer food and drinks, and make it a fun celebration to declutter your home.

What Are the Benefits of Selling Your Things?

Selling your things can have several benefits:

•   You can declutter or downsize by selling unwanted items.

•   You can help the environment by passing the item along versus throwing it in the garbage.

•   You can help someone who is looking for a gently used item that you have and wants to get a good deal on it.

•   You can bring in extra income.

However, as mentioned before, there are also downsides of selling your stuff. There is the possibility of being scammed in some direct sales, and there are also income tax implications to doing those kinds of transactions as well. Educate yourself on these situations.

Keeping Your Cash in a SoFi Savings Account

If you’re holding on to clothes, furniture, books, or other items you no longer want or need, you could be sitting on a way to make some extra money while decluttering.

What to do with all the profits that start rolling in? You might want to bank it and earn some interest.

Interested in opening an online bank account? When you sign up for a SoFi Checking and Savings account with 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.


Better banking is here with SoFi, NerdWallet’s 2024 winner for Best Checking Account Overall. Enjoy up to 4.60% APY on SoFi Checking and Savings.

The FAQ

What is a good website to sell stuff on?

The right website to sell stuff on will depend on the item you are selling to some extent. If you are selling a piece of furniture or large appliance, you might try Craigslist or Facebook Marketplace. For clothing, there are sites like thredup and Vinted, among others.

How do I sell my stuff online for free?

This will depend on the kind of item you are selling. Craigslist, Facebook Marketplace, and Vinted are some examples of platforms that typically don’t charge the seller any fees.

What is the best app for selling used items?

Among the apps to consider when selling your used items are eBay, OfferUp, and Poshmark. These can reach a large number of potential buyers, though as a seller, you will likely pay some fees.


Photo credit: iStock/Zinkevych

SoFi® Checking and Savings is offered through SoFi Bank, N.A. ©2023 SoFi Bank, N.A. All rights reserved. Member FDIC. Equal Housing Lender.
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.


SoFi members with direct deposit activity can earn 4.60% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. Direct Deposit means a deposit to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Direct Deposit”) via the Automated Clearing House (“ACH”) Network during a 30-day Evaluation Period (as defined below). Deposits that are not from an employer or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, do not constitute Direct Deposit activity. There is no minimum Direct Deposit amount required to qualify for the stated interest rate.

SoFi members with Qualifying Deposits can earn 4.60% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Qualifying Deposits means one or more deposits that, in the aggregate, are equal to or greater than $5,000 to an account holder’s SoFi Checking and Savings account (“Qualifying Deposits”) during a 30-day Evaluation Period (as defined below). Qualifying Deposits only include those deposits from the following eligible sources: (i) ACH transfers, (ii) inbound wire transfers, (iii) peer-to-peer transfers (i.e., external transfers from PayPal, Venmo, etc. and internal peer-to-peer transfers from a SoFi account belonging to another account holder), (iv) check deposits, (v) instant funding to your SoFi Bank Debit Card, (vi) push payments to your SoFi Bank Debit Card, and (vii) cash deposits. Qualifying Deposits do not include: (i) transfers between an account holder’s Checking account, Savings account, and/or Vaults; (ii) interest payments; (iii) bonuses issued by SoFi Bank or its affiliates; or (iv) credits, reversals, and refunds from SoFi Bank, N.A. (“SoFi Bank”) or from a merchant.

SoFi Bank shall, in its sole discretion, assess each account holder’s Direct Deposit activity and Qualifying Deposits throughout each 30-Day Evaluation Period to determine the applicability of rates and may request additional documentation for verification of eligibility. The 30-Day Evaluation Period refers to the “Start Date” and “End Date” set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the “30-Day Evaluation Period”). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY. Upon receiving a Direct Deposit or $5,000 in Qualifying Deposits to your account, you will begin earning 4.60% APY on savings balances (including Vaults) and 0.50% on checking balances on or before the following calendar day. You will continue to earn these APYs for (i) the remainder of the current 30-Day Evaluation Period and through the end of the subsequent 30-Day Evaluation Period and (ii) any following 30-day Evaluation Periods during which SoFi Bank determines you to have Direct Deposit activity or $5,000 in Qualifying Deposits without interruption.

SoFi Bank reserves the right to grant a grace period to account holders following a change in Direct Deposit activity or Qualifying Deposits activity before adjusting rates. If SoFi Bank grants you a grace period, the dates for such grace period will be reflected on the APY Details page of your account. If SoFi Bank determines that you did not have Direct Deposit activity or $5,000 in Qualifying Deposits during the current 30-day Evaluation Period and, if applicable, the grace period, then you will begin earning the rates earned by account holders without either Direct Deposit or Qualifying Deposits until you have Direct Deposit activity or $5,000 in Qualifying Deposits in a subsequent 30-Day Evaluation Period. For the avoidance of doubt, an account holder with both Direct Deposit activity and Qualifying Deposits will earn the rates earned by account holders with Direct Deposit.

Members without either Direct Deposit activity or Qualifying Deposits, as determined by SoFi Bank, during a 30-Day Evaluation Period and, if applicable, the grace period, will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances.

Interest rates are variable and subject to change at any time. These rates are current as of 10/24/2023. There is no minimum balance requirement. Additional information can be found at https://www.sofi.com/legal/banking-rate-sheet.


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.

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.

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Pros and Cons of Automatic Bill Payment

It can be easy to forget important things: What time is that meeting? Where’s my phone? Did I pay my credit card bill yet?

While all of those examples are significant, forgetting to pay your bills can be the one with considerable financial ramifications.

According to a recent Census Bureau Household Pulse survey, 36% Americans say they have trouble paying all of their bills on time. Granted, some of that may be due to living paycheck to paycheck, but organization is likely also part of the problem.

Signing up for automatic bill payment can be one path to getting bills paid by the due date, avoiding late fees, and protecting your credit. Here, you’ll learn what automatic bill payment is, how it works, how to set it up, plus the pros and cons of this option.

Key Points

•   Automatic bill payment offers convenience by automatically deducting funds from your account to pay bills on time, reducing the risk of late fees or missed payments.

•   It helps simplify your financial life by eliminating the need to manually track and pay multiple bills each month.

•   Automatic bill payment can improve your credit score by ensuring timely payments, which is a key factor in determining your creditworthiness.

•   It provides peace of mind by reducing the chances of forgetting to pay bills and avoiding potential disruptions in services like utilities or internet.

•   Setting up automatic bill payment can save you time and effort, allowing you to focus on other important aspects of your life.

What Is Automatic Bill Payment?

So exactly what is automatic bill payment exactly? Autopaying a bill transfers money to the person you owe on the due date from a connected bank account — as long as there is enough money available to cover the bill, of course. This can usually be facilitated by the company you have an account with or by your bank.

After the initial set up, automatic bill payment can help pay recurring bills with minimum effort. Simply put, automatic bill payments, once they are in place, allow someone to transfer money from their own account to a creditor, like for a credit card company or service provider, like for a utility bill, without needing to actually initiate a payment every time. In other words, payments can happen automatically, without any effort on your part, such as writing and mailing a check.

💡 Quick Tip: Make money easy. Enjoy the convenience of managing bills, deposits, and transfers from one bank account with SoFi.

Advantages of Automatic Bill Payment

Automatic bill payment has a number of benefits to consider.

It’s Convenient

Automatic bill payment is an easy way to cross off one more “to do” from the list. First, it’s simply more convenient for a lot of people. Instead of remembering specific bill due dates and having to log in to different websites or sending paper checks through the mail, automating personal finances simplifies the experience.

Once payments are set up, some people can adopt a “set it and forget it” mentality, meaning they don’t have to worry about due dates. While it’s still important to be aware of when money will be leaving the bank, sometimes the reduced stress of not worrying about due dates every month is worth it.

Recommended: When All Your Money Goes to Bills

Automatic Bill Pay Is Secure

Automatic bill payment is also secure. According to Experian, online payments can be safer than traditional paper checks and statements because they are digitized and encrypted. Avoiding those physical bills and mailing in checks can help reduce exposure to fraud.

Plus, a digital transaction can be much easier to track in real-time and make sure the correct amount for each bill went to the right place, rather than waiting weeks to see if the company cashes a check.

Putting bills on autopay can help avoid the worry about whether a bill got paid, of course, but it could even give finances an eco-friendly boost and reduce the number of paper bills mailed out.

Impacting Your Credit Score

Here’s another benefit of automatic bill payment: Not only can it help you avoid late fees in the short term, it could also help protect your credit score. In fact, payment history affects 35% of someone’s FICO® credit score. (FICO reports that negative marks on credit history can fade over time with consistent on-time payments.) Autopay can help you avoid those late payments.

Saving Money with Automatic Bill Pay

One big advantage of automatic bill payments: Doing so can help you avoid late fees that could be incurred by failing to pay on time or missing a payment. Those fees can add up quickly.

Plus, some creditors, such as federal student loan servicers, offer a discount for setting up automatic payments. In some cases, this is an interest rate reduction, which could help reduce the total amount of debt paid overtime.

Get up to $300 when you bank with SoFi.

Open a SoFi Checking and Savings Account with direct deposit and get up to a $300 cash bonus. Plus, get up to 4.60% APY on your cash!


Disadvantages of Automatic Bill Payment

Now that you know the benefits of automatic bill payments, consider the potential downsides.

Overdraft Fees

One major downside to putting bills on autopay is the fact that, well, the payments will be automatic. If there is not enough money in the connected bank account to cover the cost of the bill, there is a risk of overdraft and NSF fees from your financial institution.

If there is not enough money to cover the bill, there is a risk of overdraft fees.

Some payment amounts change month to month, such as utility bills. Without checking ahead of time how much the bill will be, it’s possible for the utility company to simply withdraw what is owed, causing the account to be overdrawn. Overdraft fees depend on the bank, but the average is around $35, according to the Federal Deposit Insurance Corporation (FDIC).

Forgetting about automatic withdrawals from financial accounts could lead to overspending, pushing account balances lower than the amount needed to cover those pre-set bill payments.

One possible solution to such cash flow issues: Spread out bill payment dates throughout the month, rather than having them all grouped together. Bills might be scheduled for the beginning or the end of the month, but it’s simple to change the date of automatic payments, with enough notice. You can contact the payee about moving a bill due date and then double-check when the change will go into effect to avoid any late payments.

The Consumer Financial Protection Bureau offers a helpful worksheet to help visualize which weeks every month are the most hard-hit.

💡 Quick Tip: Fees can be a real drag when you’re trying to save money. SoFi’s online checking account has no account fees, including overdraft coverage up to $50.

Potential Late Fees

In addition to your financial institution charging you for an overdraft, if an automatic payment doesn’t go through, the payee (the company you were trying to send funds to) may also assess a late fee.

When these fees add up, especially on an interest-charging account, you can wind up having your debt increase.

Forgotten Subscriptions Can Be Costly

Another disadvantage of automatic bill pay is that it reduces your control over what money is going out at certain times. You might wind up with more money flowing out of your account than you realize.

For instance, you might sign up for a one-week free trial of a streaming service with every intention of canceling it after you binge-watch a series. But then you forget and autopay kicks in, which could lead to overdrafting your account over time.

Another scenario: You might move from one home to another and be so busy that you forget to cancel an automatic payment related to your former home or neighborhood. Perhaps you had signed up for one of those “all you can drink” monthly coffee deals at a cafe around the corner from your old place. Review your monthly statements to be sure you catch unwanted charges.

Vendors May Overcharge or Make Mistakes

Another downside of automatic bill payments is that a payee could overcharge you or charge you twice, and you might not be aware of the problem until you review your account or overdraft it. For this reason, it’s wise to check your bank account regularly and scan automatic bill payment transactions to be sure everything looks in good shape.

Whatever the case, whether paying bills manually or using automatic withdrawals, it’s important to still be intentional about making and keeping a budget.

How to Set Up Automatic Bill Payment

Here are the step-by-steps to setting up automatic bill payment for, say, a credit card by selecting the service offered by your card provider.

1.   Log into your credit card account online or in the app.

2.   Select the “recurring payment” or “autopay” option.

3.   Choose how much you want to pay. You may be given such options as minimum payment, a specific amount that you designate, or the total amount of your bill.

4.   You’ll then connect your credit card account to your bank account for payment.

5.   This typically involves adding your account number and routing number.
You will need to approve the autopay set-up, often by agreeing to terms and conditions.

Another option is to set up automatic bill pay directly with a financial institution. One advantage of this is that you don’t need to share your account information with the payee, which can make some people feel more secure about their financial accounts.

1.   Log into your bank account online or in its app.

2.   Find the link for automatic recurring payments; it is often labeled “Bill pay,” “Pay bills,” or something similar.

3.   Then add a payee and follow the prompts to set up a recurring or future payment. Have a recent bill on hand, since the bank will need information like the payee’s bank account numbers, addresses, due dates, and other important information.

Example of Automatic Bill Payment

Here’s an example of how automatic bill payment might work. Say you sign up for a gym membership on a monthly basis at $65 per month. However, the gym will lower that to $60 a month if you sign up for autopay on their site and save them the trouble of billing you.

If you take advantage of this offer, you would likely go to their website or app, log in, and head to your account details, and find the payment or billing section. There, you would opt into autopay and share your banking details or your credit card details (paying by debit card usually isn’t recommended; you have less protection if there’s a problem). You may be informed of what date funds will be deducted or you might be able to select a date.

You should be all set to have your gym membership payments automatically paid every month. It’s a good idea to verify this when you check your bank account. And, of course, if you decide to end your membership, be sure to cancel the automatic payment.

💡 Quick Tip: When you feel the urge to buy something that isn’t in your budget, try the 30-day rule. Make a note of the item in your calendar for 30 days into the future. When the date rolls around, there’s a good chance the “gotta have it” feeling will have subsided.

The Takeaway

Automatic bill payments can be a major convenience as you manage your personal finances. However, like most things in life, there are pros and cons. You can gain convenience and the ability to avoid late charges, but you also have less control over your money. By educating yourself about how this process works, you can decide whether it’s right for you, and, if so, for which payments.

Interested in opening an online bank account? When you sign up for a SoFi Checking and Savings account with 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.


Better banking is here with SoFi, NerdWallet’s 2024 winner for Best Checking Account Overall. Enjoy up to 4.60% APY on SoFi Checking and Savings.

FAQ

Do automatic payments hurt your credit?

Automatic payments, like manual payments, could hurt your credit if you pay your bills late or experience insufficient funds.

What is the difference between bill pay and ACH?

Bill pay usually refers to sending funds electronically. One common way that funds may be transferred (but not the only way) is via the Automated Clearing House network, which is known as ACH.

What is the safest way to set up automatic payments?

The safest way to set up automatic payments is to do so through your bank or credit card; it’s not recommended that you use your debit card as you’ll have less protection if there’s a problem. Also, check your balance and statements carefully to make sure you have enough money in the bank to cover your autopayments and also scan for any incorrect or fraudulent transactions.

Should I use autopay for utilities?

Whether you should use autopay for utilities depends on your situation and financial habits. If you know you’ll be able to cover the amount every month, it could be a real convenience. However, utility costs can sometimes fluctuate greatly, like the cost of heating a home in winter, which might cause pricing spikes and lead to your overdrafting. You want to be sure you can always afford to cover bills that are on automatic bill payment.



SoFi® Checking and Savings is offered through SoFi Bank, N.A. ©2023 SoFi Bank, N.A. All rights reserved. Member FDIC. Equal Housing Lender.
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.


SoFi members with direct deposit activity can earn 4.60% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. Direct Deposit means a deposit to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Direct Deposit”) via the Automated Clearing House (“ACH”) Network during a 30-day Evaluation Period (as defined below). Deposits that are not from an employer or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, do not constitute Direct Deposit activity. There is no minimum Direct Deposit amount required to qualify for the stated interest rate.

SoFi members with Qualifying Deposits can earn 4.60% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Qualifying Deposits means one or more deposits that, in the aggregate, are equal to or greater than $5,000 to an account holder’s SoFi Checking and Savings account (“Qualifying Deposits”) during a 30-day Evaluation Period (as defined below). Qualifying Deposits only include those deposits from the following eligible sources: (i) ACH transfers, (ii) inbound wire transfers, (iii) peer-to-peer transfers (i.e., external transfers from PayPal, Venmo, etc. and internal peer-to-peer transfers from a SoFi account belonging to another account holder), (iv) check deposits, (v) instant funding to your SoFi Bank Debit Card, (vi) push payments to your SoFi Bank Debit Card, and (vii) cash deposits. Qualifying Deposits do not include: (i) transfers between an account holder’s Checking account, Savings account, and/or Vaults; (ii) interest payments; (iii) bonuses issued by SoFi Bank or its affiliates; or (iv) credits, reversals, and refunds from SoFi Bank, N.A. (“SoFi Bank”) or from a merchant.

SoFi Bank shall, in its sole discretion, assess each account holder’s Direct Deposit activity and Qualifying Deposits throughout each 30-Day Evaluation Period to determine the applicability of rates and may request additional documentation for verification of eligibility. The 30-Day Evaluation Period refers to the “Start Date” and “End Date” set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the “30-Day Evaluation Period”). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY. Upon receiving a Direct Deposit or $5,000 in Qualifying Deposits to your account, you will begin earning 4.60% APY on savings balances (including Vaults) and 0.50% on checking balances on or before the following calendar day. You will continue to earn these APYs for (i) the remainder of the current 30-Day Evaluation Period and through the end of the subsequent 30-Day Evaluation Period and (ii) any following 30-day Evaluation Periods during which SoFi Bank determines you to have Direct Deposit activity or $5,000 in Qualifying Deposits without interruption.

SoFi Bank reserves the right to grant a grace period to account holders following a change in Direct Deposit activity or Qualifying Deposits activity before adjusting rates. If SoFi Bank grants you a grace period, the dates for such grace period will be reflected on the APY Details page of your account. If SoFi Bank determines that you did not have Direct Deposit activity or $5,000 in Qualifying Deposits during the current 30-day Evaluation Period and, if applicable, the grace period, then you will begin earning the rates earned by account holders without either Direct Deposit or Qualifying Deposits until you have Direct Deposit activity or $5,000 in Qualifying Deposits in a subsequent 30-Day Evaluation Period. For the avoidance of doubt, an account holder with both Direct Deposit activity and Qualifying Deposits will earn the rates earned by account holders with Direct Deposit.

Members without either Direct Deposit activity or Qualifying Deposits, as determined by SoFi Bank, during a 30-Day Evaluation Period and, if applicable, the grace period, will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances.

Interest rates are variable and subject to change at any time. These rates are current as of 10/24/2023. There is no minimum balance requirement. Additional information can be found at https://www.sofi.com/legal/banking-rate-sheet.


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.

External Websites: The information and analysis provided through hyperlinks to third-party websites, while believed to be accurate, cannot be guaranteed by SoFi. Links are provided for informational purposes and should not be viewed as an endorsement.

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.

Disclaimer: Many factors affect your credit scores and the interest rates you may receive. SoFi is not a Credit Repair Organization as defined under federal or state law, including the Credit Repair Organizations Act. SoFi does not provide “credit repair” services or advice or assistance regarding “rebuilding” or “improving” your credit record, credit history, or credit rating. For details, see the FTC’s website .

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