SoFi Blog

Tips and news—
for your financial moves.

May Reading Roundup

Our monthly roundup of articles from around the web includes tips on how to prepare for an emergency, such as having your wallet or identity stolen, a suddenly large expense, a power outage, medical emergencies and death.

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What do you mean when you say SoFi Checking and Savings has no overdraft fees?

SoFi doesn’t charge any. If you write a check with insufficient funds or try to withdraw an amount that exceeds your balance, the transaction will not go through and SoFi will not charge a fee . While SoFi prevents you from overdrawing in most cases, there may still be times when you could have a negative balance. This could happen if a transaction is approved for one amount, but the actual charge is more than the amount of money in your account. For example, when you use your SoFi Debit Card card for a meal and then add a tip. In this situation, the full payment may go through and result in a negative balance, but even then, SoFi will not charge you an overdraft fee.5

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