Earn 2.25% APY ²

Say hi to SoFi Money^TM, a hybrid account that earns you more and costs you nothing.

Get SoFi Money

Get Your Money Right.^™

SoFi Money has the convenience of checking and savings morphed into one hybrid account.

Pay zero account fees.

No annual, transactional, overdraft, or other account fees.

Earn more interest.

Get 2.25% APY on your account.²

Free ATMs everywhere.

Use any ATM and we’ll reimburse the fees.³

No. Freakin’. Fees.

Most banks charge an average of $329 per year in account fees.¹ We don’t charge any. Not the ones you expect—and definitely not the ones you don’t.

Check out the list
of fees we don’t have. →

Interested in interest?
SoFi Money earns even more of it.

You work hard for your money. Now your money can work hard for you. SoFi Money earns 2.25% APY.²

2.25% APY

0.05%

SoFi Money

Average Checking
Account⁴

Don’t pay money to get your money.

Sometimes you want cold hard cash. You shouldn’t be charged for that—no matter where you are. Use any ATM worldwide that accepts Visa^® and we’ll reimburse you for the fees.³

Catching on to how great Money is?

We’re just getting started.

Quick sign up

Secure

SoFi Money is FDIC insured up to $1.5 million with additional protection against fraud.⁵

Mobile

Your phone is your branch—complete with mobile transfers, photo check deposit, and customer service.

P2P transfers

Send money to anyone you need to right from our app. And when you send to SoFi Money holders, they’ll get it instantly.

Get the most out
of SoFi Money.

SoFi Money holders pay no fees, earn 1.25% APY, and get the benefits of SoFi membership.

Get even more out of SoFi Money when you set up a direct deposit of $3k/month or spend $500/month on your debit card. This gets you:

Unlimited reimbursement on ATM fees
2.25% APY on your account

Earn more.
Pay nothing.
Get it now.

Get SoFi Money

Common questions

Q: What is SoFi Money?
–+

SoFi Money is a mobile-first financial product which functions like a checking account but pays a higher interest rate on deposits like a savings account. It’s powered by the SoFi mobile app and the SoFi Money Debit Card™. In addition to a higher interest rate¹, SoFi Money charges no account fees and offers unlimited reimbursement for ATM fees each month², free P2P payments, free bill pay and much more.

Q: Are there any fees for having a SoFi Money account?
+–

Nope! We don’t believe in charging you fees to use your own money, so that means no account fees. There are no fees to open a SoFi Money account, no overdraft fees, and no regular maintenance fees. Check out a full list of fees (spoiler alert: there are none) and service charges here.

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 https://www.fdic.gov.

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 (in the 50 US states, District of Columbia) over 18 years of age are eligible.

See All FAQs

¹ SOURCE: Bank Fee Finder Summary Report, April 2017

²The SoFi Money Annual Percentage Yield as of 2/12/2019 is 2.25% APY (2.23% interest rate). Interest rates are variable subject to change at our discretion, at any time. No minimum balance required.

³SoFi doesn’t charge any ATM fees and will reimburse ATM fees charged by other institutions when a SoFi Money™ Visa® Debit Card is used at any ATM displaying the Visa®, Plus®, or NYCE® logo. Please note, though SoFi doesn’t charge foreign transaction fees, there is a foreign exchange fee of 1% charged by Visa that is not waived. SoFi reserves the right to limit or revoke ATM reimbursements at any time without notice.

⁴The average national checking account interest rate is calculated as of 4/30/2018 based on a simple average of rates paid (uses annual percentage yield) by all insured depository institutions and branches for which data are available. Data used to calculate the national rate is gathered by RateWatch. Interest checking account rates are based on the $2,500 product tier. Account types and maturities published in these tables are those most commonly offered by the banks and branches for which we have data – no fewer than 45,000 locations and as many as 81,000 locations reported. The deposit rates of credit unions are not included in the calculation. Visit FDIC site for details.

⁵The cash balance in SoFi Money Accounts is swept to one or more program banks where it earns a variable rate of interest and is eligible for FDIC insurance. FDIC Insurance is not provided until the funds arrive at partner bank. There are currently six banks available to accept these deposits, making customers eligible for up to $1,500,000 of FDIC insurance (six banks, $250,000 per bank). If the number of available banks changes, or you elect not to use, and/or have existing assets at, one or more of the available banks, the actual amount could be higher or lower. For more information on FDIC insurance coverage, please visit www.FDIC.gov. Customers are responsible for monitoring their total assets at each of the Program Banks to determine the extent of available FDIC insurance coverage in accordance with FDIC rules. The deposits in SoFi Money or at Program Banks are not covered by SIPC.

The SoFi Money Visa® debit card is issued by Wilmington Savings Fund Society. Visa is a registered trademark of Visa International Service Association and is used pursuant to a license from Visa U.S.A. Inc.

Neither SoFi nor its affiliates is a bank.

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

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Earn 2.25% APY 2

Get Your Money Right.™