May
06
2021
SoFi Blog
Tips and news—
for your financial moves.
May
05
2021
May
05
2021
Biden’s Tax Plan May Lead to a “Marriage Penalty” for Top Earners
President Biden wants to raise income taxes on the wealthiest Americans which could create what’s called a “marriage penalty.” Learn who will be impacted.
Read moreMay
05
2021
Banking Early Paycheck
Access your paycheck, up to 2 days sooner.
Set up direct deposit to automatically get your paycheck up to two days early every time you get paid.* Once the money hits your account, you can start paying bills earlier, saving earlier, investing earlier, and more.
Open an account
How to get paid early with direct deposit.
Set up Direct Deposit from your Employer..
Enjoy early payday, automatically.
Open an account
Benefits of getting your paycheck early.
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Pay bills on time and avoid late fees.
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Cover unexpected expenses without stress.
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Take control of your cash flow.
How early direct deposit works
SoFi’s early-paycheck program posts ACH transactions when it receives notification of incoming funds from the transferring institution. The money in the account starts earning interest as soon as it’s posted. There’s no minimum direct deposit amount required to earn interest.
FAQs
All you need to do is set up direct deposit to your SoFi Checking and Savings account. Note that most employers take a few weeks to set up a new direct deposit, so set it up today!
Yes! Your money will start to earn interest as soon as it is posted to your account.
You can access your paycheck as soon as it’s posted to your account.
Yes! Set up account alerts by navigating to the Notification Settings in the SoFi mobile app.
SoFi early direct deposit is usually available at the start of business on your payday or even earlier between midnight and 6 AM. Note the exact timing ultimately depends on your employer or payroll service provider.
Click here to see how to set up direct deposit.
In addition to early paycheck, members with qualifying direct deposits are eligible for no-fee Overdraft Coverage, our highest APY, plus a cash checking account bonus up to $300. **
Note that not everyone is paid two days early, that the exact timing ultimately depends on your employer or payroll service provider. Chat with us if you still think there might be issues.
To qualify for Early Direct Deposit we require $1,000 or more in direct deposits every 30 days.
Qualifying direct deposits that are eligible for early pay have to be recurring, which include:
• Paychecks from your employer, payroll provider or benefits provider.
• Government disbursements, such as Social Security, retirement, or unemployment benefits.
• Non-recurring deposits (e.g. IRS tax refunds) are not eligible.
May
05
2021
Ad-Supported Streaming Services Impact Marketing Strategies
Advertisers are setting their sights on the streaming TV market, spending billions of dollars in ads. Learn why the streaming TV market is hot right now.
Read more
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