SoFi Money.

SoFi Money™ simplifies the way you bank, by combining the benefits of checking and savings into one high-interest deposit account. Available in the coming months.

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SoFi Money is offered through SoFi Securities, LLC Member FINRA/SIPC

SoFi Money App Sofi debit card

The only account
you need to spend
and save.

Checking accounts give you flexibility to pay.
Savings accounts give you higher interest.
SoFi Money gives you both.

Earn higher interest with 1% APY.1

We don’t believe in charging you fees to use your own money. Check out a full list of account fees we don’t charge here.

Use any ATM (even internationally), and we’ll cover the cost up to six times per month.2

Access to complimentary career coaching, community resources, swag, and much more.

Get a debit card, mobile transfers, photo check deposit, and customer service so good you won’t need a branch.

SSL encryption, fraud protection, and FDIC insurance up to $1.5 million.3

Get more from
your money.

SoFi Money pays 20x higher interest.

1% APY1


SoFi Money

Average Checking

Common questions

Q: What is SoFi Money?

SoFi Money is a mobile-first banking experience powered by the SoFi app and SoFi Money Debit Card™. SoFi Money is a deposit account. What does that mean for you? Essentially, it functions like a checking account, but it pays a higher interest rate on your deposits. The funds in your SoFi Money account are held and insured by one of our partner banks. SoFi provides everything else, including the SoFi Money Debit Card, our easy-to-use iOS and Android apps, a web interface, and customer support that really cares about helping you reach your next milestone.

Q: How much does a SoFi Money account cost?

SoFi Money is free and we won’t charge you account fees. So how do we make money? Like with other debit and credit cards, SoFi earns a small amount of interest on the money in your account and when you swipe your debit card. But unlike most banks, SoFi has lower costs from doing business online, so we pass those savings on to you in the form of higher interest paid on your deposits—and we don’t charge extra account fees on top.

Q: Is SoFi Money secure?

We take security of your sensitive information seriously, including your cardholder data. We maintain the most stringent industry-standard administrative, technical and physical safeguards to protect your information.

Your swept deposits with SoFi Money are insured by the FDIC, which means deposits in your account are protected up to $1.5MM3. For details, please see

SoFi Money is offered through SoFi Securities, LLC, member FINRA/SIPC

Q: Do you have to be a SoFi member?

No, you don’t need to have an existing SoFi product to apply for SoFi Money. US citizens and most permanent residents over 18 years of age are eligible.

Q: When will I get off the waitlist?

Add yourself to the waitlist above and we’ll keep you updated via email. We plan to introduce early access to those on the waitlist in the coming months.

Simplify your life.
Upgrade to
SoFi Money.

SoFi Money App Sofi debit card


Email us at

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