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An ACH routing number is a nine-digit code that identifies a financial institution during an electronic financial transaction. It ensures that money transferred using the ACH (Automated Clearing House) network is taken from and sent to the right place. ACH transfers are usually faster than paper checks and are used for various transactions like autopay and direct deposits.

Since ACH routing numbers play a vital role in everyday banking, let’s take a closer look.

What Is an ACH Routing Number?

An ACH routing number is essentially a digital address for your bank. It’s used specifically for transfers made using the Automated Clearing House (ACH) network, a system that facilitates electronic payments and direct deposits between financial institutions in the U.S.

Smaller banks and credit unions may have only one ACH routing number, while big banks may use several different ACH routing numbers based on region.

You’ll need your bank’s ACH routing number for a number of financial transactions. This includes setting up direct deposit at work, getting a tax refund directly deposited into your bank account, authorizing a one-time online payment, setting up autopay, and using a P2P payment app.

To set up an ACH transaction, you also need to provide your account number, which (unlike an ACH number) is unique to you. Your account number identifies the specific account, such as a traditional or online checking account, within the bank you want to use for the ACH credit or debit.

How Do I Find My ACH Routing Number?

Let’s say you want to sign up to pay your homeowner’s insurance automatically every month or you need to enroll in a P2P app to send someone money. To find your bank’s ACH routing number, you have a few options.

1. Using Your Checkbook

If you have paper checks, you can find your routing number by looking at the string of numbers printed along the bottom of a check. Your bank’s routing number is the first set of nine digits on the bottom left. It is usually followed by your account number and then the check number.

2. Using Your Online or Mobile Bank Account

Another way to get your ACH routing number is to go to your bank’s website and sign into your account. Methods vary by bank but, typically, here’s how you do it: Click on the last four digits of your account number (which appears above your account information) and choose “see full account number” next to your account name. A box will then open to display your bank account number and routing number.

You can also find your ACH routing number by signing into your bank’s mobile app. Typically, you just need to choose your account title and then tap “show details,” and your bank account and routing number will appear.

3. Using the Internet

If you don’t have access to online banking, you can also find your ACH routing number by going to your bank’s official website. You can then use the search function to look for “ACH routing number” or check the “Help” or “FAQ” sections.

Another option is to do a simple internet search. Put “ACH number” and the name of your bank into a search engine and you should be able to find it. Keep in mind that some large banks may have multiple regional ACH numbers. You want to make sure you are getting the one associated with your location.

4. Contacting Customer Service

If you can’t get online, you can always contact your bank’s customer service department by phone. They can provide you with the correct ACH routing number.

What Are ACH Routing Numbers Used For?

ACH routing numbers serve several essential functions in the banking system. Here are some of the main uses for ACH routing numbers:

Differences Between ACH vs ABA Routing Numbers

An ABA (American Bankers Association) routing number is similar to an ACH routing number in that it identifies your bank. However, these numbers are used in different contexts.

ACH routing numbers are specifically used for electronic transactions processed through the Automated Clearing House network. This includes direct deposits, bill payments, and other electronic funds transfers. ABA routing numbers (also known as check routing numbers) are used for processing paper checks and for wire transfers. ABA and ACH simply refer to the method in which the money is moved.

These days, the same nine-digit number can serve as both an ACH routing number and an ABA routing number, which means that the ABA and ACH routing number for your bank is likely the same. If that’s the case, your bank will simply refer to its ABA/ACH routing number simply as its “routing number.”

Some banks, however, may provide separate ACH numbers (for electronic transfers) and ABA numbers (for checks and wire transfers).

History Between ACH vs ABA Routing Numbers

ABA numbers were created in 1910 by the American Bankers Association (ABA) to help facilitate the sorting, bundling, and shipping of paper checks. They are still used for the processing of paper checks (and also for wire transfers).

More than a half century later, in the late 1960s, a group of California banks banded together to find a speedier alternative to check payments. They launched the first ACH in the U.S. in 1972; that was a key milestone in the evolution of electronic banking.

Numerical Differences Between ACH vs ABA Routing Numbers

In the past, ABA and ACH numbers were slightly different, specifically the first two digits. Today, though, they are typically identical. Your bank’s ABA routing number and ACH routing number are likely to be one and the same. The reason is that both ABA and ACH numbers are used for the same purpose — transferring funds to the correct destination.

The Takeaway

An ACH routing number is a nine-digit code that identifies a bank during an electronic financial transaction. The ACH system has been used for decades and makes life easier by keeping transactions quick and secure. While ACH numbers used to be different from ABA routing codes, today these two numbers are typically the same.

Whether you are setting up direct deposits, paying bills, or transferring money between accounts, it’s essential to know your bank’s ACH routing number. You can find it by looking at your checks, logging into your account, or doing a simple online search. It’s that easy.

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

FAQ

Is the routing number different for ACH and wire transfers?

In some cases, the routing number for ACH transactions may be different from the routing number used for wire transfers. ACH routing numbers are used for electronic transactions processed through the Automated Clearing House network, such as direct deposits and bill payments.

Wire transfers, which are often faster and more direct, require an ABA or wire transfer routing number. It’s a good idea to confirm with your bank to ensure you use the correct routing number for the type of transaction you are making.

For SoFi wire transfers, the routing number is the same for ACH and wire transfers: 031101334.

Do all banks have an ACH routing number?

All banks and credit unions that process ACH transactions have an ACH routing number. This nine-digit number is your bank’s digital address, and is essential for facilitating electronic transactions such as direct deposits and bill payments. Each financial institution has its own specific ACH routing number to ensure that transactions are routed correctly.

Is your ACH number your account number?

No, your ACH routing number is not the same as your account number. The ACH routing number is a nine-digit code that identifies your bank or financial institution. Your account number, on the other hand, is a unique identifier for your specific bank account within that institution.

Both numbers are required for electronic transactions, but they serve different purposes. The routing number directs the transaction to the correct bank, while the account number specifies the particular account to be credited or debited within that bank.

About the author

Alice Garbarini Hurley

Alice Garbarini Hurley worked as a writer and editor at Seventeen, Good Housekeeping, and Sesame Street Parents magazines in New York City. She studied journalism and women’s studies at Douglass College, Rutgers University and loved writing for The Daily Targum with the smart, talented friends she met there. Read full bio.

Photo credit: iStock/fizkes

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

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

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

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

See additional details at https://www.sofi.com/legal/banking-rate-sheet.
SoFi® Checking and Savings is offered through SoFi Bank, N.A. ©2026 SoFi Bank, N.A. All rights reserved. Member FDIC. Equal Housing Lender.

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.

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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A “secured” personal loan is backed by an asset, called collateral, such as a home or car. An unsecured loan, on the other hand, is not collateralized, which means that no underlying asset is necessary to qualify for financing. Whether someone should pursue a secured or unsecured loan depends on a number of factors, such as their credit score and whether they have assets to put up as collateral.

If you’re planning to take out a loan, it’s important to do your research and find one that best fits your needs and financial situation. Learn more about when someone can and should take out a personal loan with collateral.

Why Secured Loans Require Collateral

With a secured personal loan, a lender is typically able to offer a larger amount, lower personal loan interest rate, and better terms. That’s because with loans using collateral, if the loan isn’t repaid as agreed, the lender can take possession of the collateral. This is not the case with an unsecured personal loan.

Collateral allows secured personal loans to be offered to a wider range of consumers, including those who are considered higher risk. The reason is that the lender’s risk is offset by the borrower’s assets.

Secured vs Unsecured Personal Loans

Personal loans with collateral differ from unsecured loans in important ways. Here’s a quick look at differences and similarities:

Secured and unsecured aren’t the only terms you’ll encounter when choosing a loan type, so let’s review a few others as well.

Fixed-Rate vs. Variable-Rate Loans

There are other types of personal loans beyond secured versus unsecured. One important distinction is whether a loan has a fixed or variable interest rate. A fixed rate is just as it sounds: The interest rate stays fixed throughout the duration of the loan’s payback period, which means that each payment will be the same amount.

The interest on a variable-rate loan, on the other hand, fluctuates over time. These loans are tied to a benchmark interest rate — often the prime rate — that changes periodically. Usually, variable rates start lower than fixed rates because they come with the long-term risk that rates could increase over time.

A personal loan with collateral might be either a fixed-rate or a variable-rate loan, though fixed rates are more common.

Installment Loans vs. Revolving Credit

A personal loan is a type of installment loan. These loans are issued for a specific amount, to be repaid in installments over the duration of the loan. Installment loans are generally good for borrowers who need a lump sum.

An installment loan can be either secured or unsecured. A mortgage — another type of installment loan — is typically a secured loan that uses your house as collateral.

Revolving credit, on the other hand, allows a borrower to spend up to a designated amount on an as-needed basis. Credit cards and lines of credit are both forms of revolving credit. If you have a $10,000 home equity line of credit (HELOC), for example, you can spend up to that limit, using the credit line much the way you would a credit card.

Lines of credit are generally recommended for recurring expenses, such as medical bills or ongoing home-improvement projects, and also come in secured and unsecured varieties. A HELOC is secured using your house as collateral.

What Can Be Used as Collateral on Personal Loans?

Lenders may accept a variety of assets as collateral on a secured personal loan. Some examples include:

House or Other Real Estate

For many people, their largest source of equity (or value) is the home they live in. Even if someone doesn’t own their home outright, it is possible to use their partial equity to obtain a collateral loan.

When a home is used as collateral on a personal loan, the lender can seize the home if the loan is not repaid. Another downside to personal collateral loans is that the homeowner must supply a lot of paperwork so that the bank can verify the asset. As a result, your approval can be delayed.

Bank or Investment Accounts

Sometimes, borrowers can obtain personal loans with collateral by using investment accounts, CDs, or cash accounts as collateral. Every lender will have different collateral requirements for its loans. Using your personal bank account as collateral can be very risky, because it ties the money you use every day directly to your loan.

Recommended: Secured vs. Unsecured Personal Loans — What’s the Difference?

Vehicle

A vehicle is typically used as collateral for an auto title loan, though some lenders may consider using a vehicle as backing for other types of secured personal loans. A loan backed by a vehicle can be a better option than a short-term loan, such as a payday loan. However, you run the risk of losing your ride if you can’t make your monthly loan payments.

Other Types of Collateral

Loans using collateral may also employ other items of value to secure the borrowed funds. Boats, fine art, antiques, jewelry, precious metals, or valuable collections could be used as collateral depending on their value, the loan amount, and the lender’s policies. The borrower typically has the ability to use the item, such as a boat, while they are paying back the loan.

Pros and Cons of Using Collateral on Personal Loans

Using collateral to secure a personal loan has pros and cons. While it can make it easier to get your personal loan approved by a lender, it’s important to review the loan terms in full before making a borrowing decision. Here are some things to consider:

Pros of Using Collateral

•   It can help your chance of being approved for a personal loan.

•   It can help you get approved for a larger sum, because the lender’s risk is mitigated.

•   It can help borrowers secure lower average personal loan interest rates than they would obtain for an unsecured loan.

Cons of Using Collateral

•   The application process can be more complex and time-consuming, because the lender must verify the asset used as collateral.

•   If the borrower defaults on the loan, the asset being used as collateral can be seized by the lender.

•   Some lenders restrict how borrowers can use the money from a secured personal loan.

How to Qualify for a Personal Collateral Loan

Common uses for personal loans include paying medical bills, unexpected home or car repairs, and consolidating high-interest credit card debt. With secured and unsecured personal loans, you’ll have to provide the lender with information on your financial standing, including your income, bank statements, and credit score. With most loans, the better your credit history, the better the rates and terms you’ll qualify for. The good news is that when you make scheduled payments on time, a personal loan can boost your credit score, which can help you qualify for other financing down the line.

If you’re considering taking out a loan — any kind of loan — in the near future, it can be helpful to work on building your credit score while making sure that your credit history is free from any errors.

Shop around for loans, checking out the offerings at multiple banks, credit unions, and online lenders. Each lender will offer different loan products that have different requirements and terms.

With each prospective loan and lender, make sure you understand all of the terms. This includes the interest rate, whether the rate is fixed or variable, and all additional fees (sometimes called “points”). Ask if there is any prepayment fee that will discourage you from paying back your loan faster than on the established timeline.

The loan that’s right for you will depend on how quickly you need the loan, what it’s for, and your desired payback terms. If you opt for an unsecured loan, it might allow you to expedite this process — and you have the added benefit of not putting your personal assets on the line.

What Lenders Look for in a Secured Loan Application

When you apply for a personal loan, lenders will be checking your application for a few key elements. Each lender will weigh these according to its individual policies:

Your credit score: A score of 610 or better is often needed for a personal loan, but if you are providing collateral, the lender may reduce this number.

Your income: Lenders like to see that a borrower has a reliable income source.

Your debts relative to your income: Your debt-to-income (DTI) ratio matters to lenders, but may be less important if you are securing the loan with your property.

In the case of a secured personal loan, you will also be asked to provide proof that you own the property and documentation of its value, which may require an appraisal.

Recommended: Is There a Minimum Credit Score for Getting a Personal Loan?

The Takeaway

Using collateral to secure a personal loan can help borrowers qualify for a lower interest rate, borrow a larger sum of money, or obtain a longer borrowing term. However, if there are any issues with repayment, the asset used as collateral can be seized by the lender.

The right choice for you will depend on your financial situation, including factors like your credit score and history, how much you want to borrow, and what assets you can use as collateral.

Looking for a personal loan that doesn’t require collateral? Check out SoFi Personal Loans, which have competitive rates and no-fee options. Apply for loans from $5K to $100K.

FAQ

What happens if you default on a personal loan with collateral?

Defaulting on a personal loan with collateral can lead to the lender taking possession of your collateral. If you find yourself struggling to keep current with your loan payments, reach out to your lender to ask about its payment deferral or forbearance policy.

Can you get a personal loan with collateral and bad credit?

It may be possible to obtain a personal loan with collateral if you have poor credit (a score below 580 or 600, depending on which credit agency the lender utilizes). Whether a lender will qualify you for a loan with bad credit will depend on what collateral you have to secure the loan, how much you wish to borrow, and how your other financial metrics look, including your income and debts.

How much can you borrow with a secured personal loan?

The amount you can borrow with a secured personal loan will depend in large part on the value of the item you are using as collateral for the loan. Many lenders have an upper limit on personal loans, however. For secured loans, it’s not unusual to find a ceiling of $50,000.

What is the difference between a secured loan and a title loan?

Secured loans use your property (which might be a vehicle title) as collateral for a personal loan that is otherwise similar to an unsecured personal loan. The lender will do a credit check. You might have up to seven years to pay off your loan. And if you make payments on time, it should reflect favorably on your credit score. A title loan is a shorter term loan (often just one month) that usually requires no credit check but which may have a significantly higher interest rate and is more risky for the borrower. Again, your vehicle title serves as collateral.

Are personal collateral loans better than unsecured personal loans?

Personal loans with collateral may offer lower interest rates and a higher borrowing ceiling than unsecured personal loans. Using collateral may also be your only option if you have a poor credit score or limited credit history. But if you can obtain the loan you need without putting your vehicle, home, investments, or other property up as collateral, that is usually preferable.

SoFi Loan Products
SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.

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Charge cards and credit cards are usually similar plastic rectangles, but they are actually very different financial products.

Charge cards, unlike credit cards, do not charge interest, nor do they allow you to carry a balance over from one month to the next.

Charge cards often feature uncapped spending limits and considerable rewards to cardholders. However, it’s not all positive: They typically come with relatively high annual fees.

There are pros and cons of using a charge card vs. a credit or debit card. Learning how these payment systems work can help you decide which card you want to use at various times and in different situations.

What Is a Charge Card?

A charge card is a branded payment card that can be used anywhere the brand is accepted for electronic payment. Charge cards require a credit application for approval, and typically, lenders only approve borrowers with good to excellent credit.

Like a credit card, charge cardholders can make purchases that they will pay for at a later date. However, a credit card allows the cardholder to carry a revolving balance by making minimum payments each month, while a charge card balance must be paid in full at the end of each statement cycle. If you don’t pay the balance at that time, you may face hefty late fees (often considerably higher than those you’d see with a credit card).

However, this strict repayment requirement does come with some benefits. For example, most charge cards don’t have a preset spending limit like credit cards. That doesn’t mean you can spend an unlimited amount, however. It means that the maximum amount you can spend changes, depending on your card usage, credit history, financial resources, and other factors. These limitations can change frequently. You can find your spending limit online, with a mobile app, or by calling the number on the back of the card.

Charge cards are known for their generous rewards, including purchase points and credits for making a purchase, and they sometimes offer double or triple points on dining and travel expenses. The benefits of a charge card aren’t free, however. Although they don’t charge interest on purchases because they’re paid off in full at the end of each billing cycle, almost all charge cards do require an annual fee. These fees can range from $95 to $5,000 for a super-premium American Express Black Card.

Recommended: Tips for Using a Credit Card Responsibly

Charge Cards vs Credit Cards

Although charge cards and credit cards are similar, the differences between them can make one payment system more appealing than another, depending on your financial situation and spending habits.

Credit cards, like charge cards, allow purchases to be made today and paid for tomorrow — but in this case, tomorrow doesn’t have to mean the end of the billing cycle. Credit cardholders can carry a balance from month to month, which is sometimes called a revolving balance. This allows the flexibility to pay when they can.

Interest, Fees, and Rewards

However, it’s important to note that credit card companies may charge compound interest on these revolving balances, which means the lender can assess interest on the interest itself over time. That’s one reason it’s so easy for credit card debt to spiral — and having to pay the bill in full each month, as charge cardholders must, can be an attractive option for those working on their financial self-discipline. However, if you have the discipline to pay your credit card bill in full each month, you can avoid paying interest entirely because credit card companies only charge interest on revolving balances.

If your credit card doesn’t assess an annual membership or maintenance fee, you can use the card to your heart’s delight and never pay more than you spent on your purchases, provided you’re diligent about paying the statement off in full every time.

Credit cards and charge cards may offer additional bonuses and benefits, such as cash-back rewards, which are points you can use toward purchases, concierge services, and statement credits. The value of these rewards often equals the annual membership fee in both credit and charge cards, so you’ll want to be sure to read the fine print before signing any paperwork.

Recommended: Secured vs. Unsecured Credit Cards

Charge Cards vs Debit Cards

Because a charge card isn’t an extension of long-term credit in the same way a credit card is, it might be tempting to compare it to a debit card. But there are significant differences between these two types of electronic payment systems.

A debit card, unlike a charge card or a credit card, is linked to a spending account with real money in it. Therefore, in most cases, the cardholder can’t spend more than the amount in the account. If they do, they may pay expensive overdraft fees and have the difference taken out of their next deposit.

Debit cards, however, generally don’t involve interest charges or annual fees. They’re simply a shortcut for taking money out of a spending account. Debit cardholders can also withdraw money from the ATM and use their card at certain point-of-sale terminals to get money when they need cash.

Recommended: Does Applying For a Credit Card Hurt Your Credit Score?

Pros and Cons of Charge Cards

Charge cards, like any other financial product, have benefits and drawbacks. While some consumers may enjoy having and using a charge card, others may feel the annual fee is not worth the benefits.

Pros of Charge Cards

•   Because they have to be paid in full each month, charge cards can help avoid a credit card debt spiral.

•   Charge cards have no preset spending cap, which may allow cardholders to make large purchases without having to worry about maxing out the card.

•   Charge cards don’t require paying interest (though lenders may assess high fees for late payments).

•   Charge cards often offer generous rewards and benefits, such as purchase points, statement credits, and sometimes double or triple points on dining and travel (which can make them a good option for business travelers).

Cons of Charge Cards

•   Many charge cards carry high annual fees, while numerous fee-free credit and debit cards are available.

•   A limited number of issuers offer charge cards, so there are typically far fewer to choose from than credit cards.

•   As with credit cards, late payments can damage your credit history. With charge cards, however, consistently late payments can be more detrimental to your credit than late credit card payments.

•   You have to pay the whole balance to avoid a late fee (with a credit card, you can typically pay the minimum payment to avoid the late fee).

Alternatives to Using Charge or Credit Cards

The buy-now-pay-later model of purchasing has advantages because you can buy something before you actually have the funds to cover the cost.

But if you’d rather avoid hefty annual fees or interest, another way to afford a significant purchase is to start saving in advance. You may want to consider setting up a separate savings account for that particular purchase.

For something major you’d like to buy within a couple of years, consider opening an account that offers higher interest than a traditional bank account, but will allow you to access your money when you need it. Good options include a savings account from an online bank vs. a traditional bank, a money market account, or a checking and savings account.

To meet your savings goal, you can set up automatic payments from your checking account to your savings account. For example, you could select a dollar amount (and it’s fine to start small) to be sent each month after your paycheck is deposited.

The Takeaway

A charge card is a financial product that, like a credit card, allows the cardholder to make purchases that they pay for later. Unlike credit cards, charge cards don’t allow cardholders to carry a revolving monthly balance — all charges must be paid in full at the end of the billing cycle.

Charge cards don’t carry preset spending caps (though there may still be some spending limits) and typically assess annual membership fees. But if you enjoy perks, travel frequently, and make the occasional high-ticket purchase, a charge card might be a good fit for you. However, if you want to avoid annual fees and/or paying interest, you can simply save up for that next big purchase.

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

FAQ

How do I apply for a charge card?

You can apply online to a lending company. Getting a charge card requires a good credit score.

Where can I use a charge card?

You can use your charge card anywhere it is accepted for electronic payment. Because charge cards are issued by specific brands, you may not be able to use them in as many places as credit cards.

What happens if I miss a payment?

Charge cards must be paid in full each month. Missing a payment could hurt your credit score and result in high fees.

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Here’s some nice news: It may be possible to change the due dates of some of your monthly bills.

This might come as a relief if you find that the bulk of your bills are due around the same time, such as early or late in the month, making cash flow a challenge. Or, perhaps you have some bills that are maddeningly due a couple of days before you get paid, which can also cause money management issues. Being able to spread out your bills, or push one or two due dates a few days further out, could give you some helpful breathing room.

These adjustments may be possible. Though not every company will allow you to change your billing due date, it doesn’t hurt to ask. Here’s a closer look at why you might want to change some of your bill due dates and how to do it.

Can You Change the Due Dates on Your Bills?

You may be able to change the due dates on some or, if you’re lucky, all of your bills. Each company will have its own policy. To find out what’s possible, simply reach out to customer service via phone, email, online chat, or even old-fashioned letter. If the service provider is local, you may also be able to make the request in person. Your request may well be honored, down to exactly which day of the month your bill is due.

However, setting your own bill due dates is never guaranteed. Many companies offer this service as a courtesy to loyal customers, but they have the right to reject your request.

Recommended: When Are Credit Card Payments Due?

Why Might Someone Change the Due Dates of Their Bills?

Here are some reasons why you might benefit from changing the due dates of some of your bills.

Aligning Better With Paydays

If your bill dates aren’t aligned well with your paydays, you may find that you don’t always have enough money in your checking account to cover your bills when they’re due. If you struggle with spending and budgeting, it could be helpful to schedule bills shortly after a payday. That way, you won’t accidentally spend money that was earmarked for bills later that month. Scheduling your bill paying like this might help you better manage your money and make your bill payment on time.

Recommended: How Much of Your Paycheck Should You Save?

Convenience

While some people like to stagger their bill-paying throughout the month, others find it more convenient to pay all of their bills at the same time each month. A single due date each month for all of life’s bills could certainly make them easier to track and remember.

Ability to Spread Out Payments

While paying bills all at once, such as right after payday, might make it easier for some people to stay on top of bill payments, others may prefer not to have their bank account significantly drained on a single day.

If you’d prefer to have your due dates spread out throughout the month, it may be worth trying to change some of your due dates. This could be especially helpful if your paychecks are irregular — say, if you’re a freelancer who depends on clients paying their invoices before you have cash in the bank.

Remembering Pay Dates May Be Easier

Regardless of when you arrange your bill due dates to be, it’ll likely be easier for you to remember them if you get to pick the dates. By picking an important date, such as the first or last day of each month or the day after payday, it may be easier for you to stay on top of your bills, even without reminders in your phone or on your calendar. And if you sign up for automatic bill payment, it might be a totally seamless process.

Benefits of a Bill Date Change

So what are the pros of changing a bill’s due date?

•   It puts you in control of your budget.

•   It can make remembering due dates easier.

•   It might help you avoid missed payments and late fees.

Drawbacks of a Bill Date Change

So are there cons to changing a payment date? If you’re making the conscious decision to change your billing schedule, you likely have a good reason for it — meaning you probably won’t encounter any drawbacks with the bill date change itself.

However, you might find that you spend a lot of time trying to get a company to change a bill’s due date, only for them to say no. This could lead to wasted time and effort.

Recommended: How Long Does a Direct Deposit Take?

When to Schedule New Pay Dates

When you should schedule new bill pay dates will depend on your own paycheck schedule and personal preferences. The Consumer Finance Protection Bureau (CFPB) offers a helpful worksheet for organizing all your current bills and due dates. Seeing them on paper may help you determine the best date(s) in your calendar month for bills to process.

Tips for Changing Pay Dates

Changing payment dates requires a little bit of effort, but it can pay off by helping you gain better control of monthly bills, such as rent, utilities, subscription services, and even credit card payments. Here are a few tips for changing your bill due dates:

1.    Get organized. A good first step is to make a list of all your recurring payments. When organizing your bills, you might want to create a master calendar that includes when each bill is due every month, as well as when your paycheck(s) are deposited. This can help you determine the ideal dates for bills to process.

2.    Decide which bill dates should change. Once you have a list of all your recurring bills and paydays, you can more easily identify which bills need to change. From there, you’ll want to investigate whether the company will even allow you to change due dates. You may be able to find this information on its websites.

3.    Make the necessary requests. To get your due dates changed, you’ll need to contact the company by phone, email, online chat, or letter. If you aren’t sure what to say, the CFPB offers a useful script: “I am requesting a change in my bill payment due date for my [company] bill. I would prefer to have my bill payment due date be on the __th of each month. Thank you for your assistance.”

4.    Set up autopay. If a service provider has an automatic bill pay option, it might be a good idea to schedule this. How bill pay works is that you schedule electronic payments in advance so you don’t have to manually transfer funds or write a check as your due date approaches. It can be an especially good option if you have a bank account with no-fee overdraft coverage. Because of the risk of overdrafting when you set up autopay, however, it might only make sense if you regularly keep more than enough funds in your checking account to cover monthly bills.

5.    Schedule reminders. Once you’ve changed your due dates, it’s a good idea to schedule reminders in your phone or on your calendar ahead of the payment date. This allows you to make sure you have the funds in your account ahead of an automatic payment or reminds you to manually complete the payment (online, by mail, or in person) if you don’t have autopay set up.

Can You Always Change Bill Dates?

Many companies will allow you to change bill dates to a schedule that makes sense for your finances. However, no company is required to do this. You may encounter some service providers that don’t allow you to change bill dates.

What if You Can’t Change Your Due Date?

If you can’t change your due dates, you can still take some actions to ensure you pay all your bills on time, such as:

•   Setting reminders: If you often forget to pay your bills on time but have the funds available, you may just need to schedule reminders for yourself ahead of the due date. Putting a recurring reminder in your calendar (perhaps the one on your phone) can be a wise move.

•   Setting money aside until you need it: If you can’t resist the temptation to spend the money available in your checking account and often struggle with a low current or available account balance on the day that bills are due, it might be wise to move money to a separate account for paying bills. And of course, don’t touch those funds for any other sort of spending.

The Takeaway

If you’re wondering whether you can change the due dates of your bills, you’ll be happy to know that it may be possible. Just reach out to the billing company’s customer service to see whether they’re willing to accommodate your request. The benefits include putting you in control of your budget, helping you better remember the due dates, and reducing the risk of missed payments. If your billing company isn’t open to changing the due date, you can always set reminders for yourself and put money aside for your bills.

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

FAQ

How easy is it to change the due date for your bills?

Changing the due dates for your bills can be as easy as making a phone call or sending an email to the service provider. However, not every company allows you to change your bill due dates. It’s solely done at the company’s discretion.

Can I pay my bill before the due date?

Yes, if you’re worried about missing a payment or spending too much money before a bill is due, you can make an early bill payment. This can help you avoid late fees and develop good financial habits.

Is it better to have your bill dates close together or spread out?

It depends on your financial situation, including your pay schedule and spending habits. Some people may prefer their bill dates to be close together (even on a single day per month), while others might benefit from having them spread out throughout the month.

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

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

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

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

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There’s no such thing as a good time to lose your job. Unfortunately, a layoff typically doesn’t stop the influx of bills.

Luckily, individuals who find themselves in such a tough position have options. Before resorting to pulling out the big guns, such as forbearance or other alternatives that can potentially hurt your credit, it’s worth taking a look at all of the choices on the table. That way, you’ll fully understand your options and their implications before making a move when you’ve lost your job and can’t pay your bills.

Assess Your Financial Situation

Whether you’ve lost your job or are in a precarious employment situation, getting your financial house in order is an important first step. Start by evaluating your current income and recurring expenses and looking for areas where you can cut back.

A good way to keep monthly spending in check is to create a budget, either on your own or with the help of a budget planner. If you’ve lost your job and your income has dropped, you’ll want to prioritize the essentials: food, utilities, housing, and transportation.

Explore Financial Assistance Options

Even with modified spending habits and a new budget, a loan due is a loan due — or at least a situation that won’t go away without dealing with it. Here are some options to consider.

Unemployment Benefits

If you voluntarily quit without good cause, then unemployment benefits probably won’t be available. But usually, the first part of a survival plan for unemployment is to get into the system for unemployment, if possible. To get started, an unemployment benefits finder can help, as can exploring unemployment resources by state.

Hardship Loans

These types of personal loans are designed to help borrowers overcome a job loss or other financial difficulty. Whether they’re unsecured or secured, hardship loans for unemployed borrowers can provide much-needed funds during a difficult time. You may be approved within a couple of days and could receive the money in about a week or less.

Forbearance and Deferment Programs

Many lenders have forbearance and deferment programs in place for their customers, but it’s generally up to the customer to reach out and ask for help.

Forbearance, a pause in monthly payments toward a loan, is an option offered in many lending agreements. The terms vary, but it can open the door to a revised agreement that may allow for decreased or delayed payments for a specific period of time. Some lenders may even offer to reduce the interest rate charged on the debt.

On the surface, this sounds positive, but note that these options can significantly affect your credit scores. The impact depends on the type of loan and the lender. What’s more, interest will usually accrue and be added to your principal balance at the end of a forbearance period.

Communicate With Lenders

As we mentioned, it’s a good idea to contact your lenders as soon as possible if you’ve lost your job and are struggling to make your monthly payments. Discuss your situation with them, and explain how your job loss is impacting your ability to repay your debt. Then explore options that may be available to you. Two strategies to consider:

•   Negotiate a reduced balance on the account. Most creditors would rather receive a partial payment than none at all. If you’re having a difficult time making ends meet, you may want to propose paying a lump sum for less than what you owe. If the lender agrees, be sure to get the arrangement in writing.

•   Ask about hardship programs. Depending on the lender, you may be offered relief measures such as a lower interest rate, waived late fees and penalties, a temporary pause in payments, or lower minimum payments.

Explore Loan Modification or Refinancing

Instead of falling into potential debt traps, such as payday loans or credit cards with high interest rates, look for solutions that make monthly payments more affordable without saddling you with hefty interest rates and fees. A loan modification or refinancing are two such options.

With a modification, a lender agrees to change your loan’s rate, repayment term, or both to reduce monthly payments to an amount you can afford. For example, they may extend the number of years you have to pay back the loan, lower your interest rate, or reduce your principal balance. Keep in mind that lenders are under no obligation to offer loan modifications, and they’ll likely first require you to provide proof of financial hardship.

Another option is to explore refinancing opportunities. While it can be harder to qualify for refinancing when you don’t have a job, it’s possible. Lenders like to see borrowers with a strong credit history and a good debt-to-income ratio. Asking a trusted friend or family member to be a cosigner may also help bolster your application.

As you weigh your choices, consider enlisting the help of a financial advisor or mortgage specialist who can help you find the solution that’s right for you.

Build an Emergency Fund

Losing a job can be stressful, but there are ways to prepare financially while you’re still employed. One effective strategy is to build an emergency fund.

There are several approaches you can use to help you establish a safety net, including:

•   Creating a budget — and sticking to it

•   Building a savings plan so you’re able to cover at least three to six months’ worth of unexpected expenses

•   Exploring high-yield savings accounts

•   Automating your savings contributions

•   Paying down debt

Seek Professional Guidance

If you’re struggling to pay off your loans after losing a job, you may think you have to figure out all the answers on your own. You don’t. Help is available.

•   Consult with a financial planner or credit counselor. These professionals can help you manage your finances after a job loss and get back on firmer financial ground once you land a new job.

•   Seek assistance from nonprofit organizations. Services vary by organization but may include resume building programs, education and training opportunities, and job placement programs.

•   Consider debt counseling or debt consolidation. With debt counseling, a professional will offer advice on your finances and debt, help you create a budget and debt management plan, and provide financial education. Debt consolidation is when you combine multiple debts into a single loan, ideally with a lower interest rate. However, it may lead to longer payment terms or involve fees.

The Takeaway

The main thing to remember for anyone who’s out of work and still responsible for loans is: You’re not alone. It might seem difficult, even impossible, but it’s doable — and even the longest journeys begin with taking the first steps.

After you’ve started tracking your expenses, cutting back on costs, and reaching for lifelines through unemployment benefits and your lender, the next step in dealing with loan payments after a job loss is to explore your options. Rather than turning to potential debt traps, such as payday loans and credit cards, you might consider jobless loans.

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

FAQ

What should I do first if I lose my job and can’t pay my bills?

Start by assessing your financial situation, including your income, expenses, and savings. Create a budget that prioritizes essential costs, such as housing, food, and utilities, while cutting nonessential spending.

What options are available to help manage debt after job loss?

You can explore unemployment benefits, hardship loans, or lender programs, including forbearance and deferment. It’s also important to contact your lenders early to discuss possible relief options, such as reduced payments or lower interest rates.

Should I consider loan modification or refinancing after losing my job?

Loan modification or refinancing may help make your payments more affordable by adjusting terms or interest rates. However, qualifying can be more difficult without income, so reviewing requirements and seeking professional advice can be helpful.

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SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.

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