SoFi Blog

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SAN FRANCISCO – May 20, 2021 – SoFi today announced that SoFi Money, its cash-management product offered by SoFi Securities LLC that helps people save and spend smarter, will now offer members the ability to receive their direct-deposit paychecks (or other eligible direct deposits) up to two days earlier than their regularly scheduled payday.*

With quicker access to the money they have already earned, members can get a head start on paying their bills, investing in the markets, saving, and making other smart money decisions to build their financial futures. For example, according to internal data, SoFi members with direct deposit set up are over five times more likely to have a savings program and have twice as much in investment assets as those who do not. And for those times it’s needed, SoFi Money’s early paycheck program and the recently launched no-fee overdraft coverage** alleviate two primary drivers of finance-related stress and protect consumers from overdraft fees, of which banks collected over $30 billion last year.   

“We’ve frequently hear from members, regardless of how much they make, that they want early paycheck , and we are thrilled to be able to launch it now,” said Anthony Noto, CEO of SoFi. “With our early paycheck program, we are giving people access to their hard-earned money in a way – and at a time – that allows them to maximize their financial choices. Some might not think that two days matters, but I can tell you firsthand – it MATTERS.”

SoFi’s early-paycheck program will work by posting ACH transactions upon notification of incoming funds from the transferring institution. The program  is available to any SoFi Money member who opts to set up a qualifying direct deposit. Please visit sofi.com/money to find out more about early paycheck and other SoFi Money member benefits, including no monthly fees, no minimum-balance fees, access to over 55,000 fee-free ATMs,² and an APY that is 6x the national interest rate versus traditional spending accounts.^{1, 3, 4}

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About SoFi

SoFi helps people achieve financial independence to realize their ambitions. Our products for borrowing, saving, spending, investing and protecting give our over 1.8 million members fast access to tools to get their money right. SoFi membership comes with the key essentials for getting ahead, including career advisors and connection to a thriving community of like-minded, ambitious people. SoFi is also the naming rights partner of SoFi Stadium, home of the Los Angeles Chargers and the Los Angeles Rams. For more information, visit SoFi.com or download our iOS and Android apps.

Contact

[email protected]

Disclosures

SoFi Money® is a cash management account, which is a brokerage product, offered by SoFi Securities LLC. Member FINRA/SIPC. Neither SoFi nor its affiliates are a bank. SoFi Money Debit Card issued by The Bancorp Bank.

This is not an offer, or solicitation of any offer to buy or sell any security, investment or other product.

*Early access to direct deposit funds is based on the timing in which we receive notice of impending payment, which is typically up to two days before the scheduled payment date.

**Overdraft Coverage only applies to SoFi Money accounts with qualifying direct deposits of $1,000/month and is currently unavailable for Samsung Money by SoFi accounts. Members with a prior history of non-repayment of negative balances for SoFi Money are also ineligible for Overdraft Coverage.

¹ As of 6/9/2020, accounts with recurring monthly deposits of $500 or more each month, will earn interest at 0.25%. All other accounts will earn interest at 0.01%. Interest rates are variable and subject to change at our discretion at any time. Accounts opened prior to June 8, 2020, will continue to earn interest at 0.25% irrespective of deposit activity. SoFi’s Securities reserves the right to change this policy at our discretion at any time.

² We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third party fees incurred when using out-of-network ATMs are not subject to reimbursement. SoFi’s ATM policies are subject to change at our discretion at any time. Accounts opened prior to June 9, 2020 will continue to receive reimbursement for all ATM fees under our prior policy. SoFi Securities ATM policies are subject to change at our discretion at any time.

³ The cash balance in SoFi Money cash management 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 does not immediately apply. Coverage begins when funds arrive at a program 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 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.

⁴ 6x based on the national average of 0.04% from the weekly rate cap as of 4/1/21.

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Privacy Policy | U.S. Consumer Privacy Notice

SoFi Employee Applicant Privacy Notice

Date Last Updated – September 17, 2025

This Employee Applicant Privacy Notice (“Privacy Notice”) explains SoFi’s privacy practices regarding the personal information of job applicants and candidates. This Privacy Notice applies to SoFi Financial Technologies, Inc. and all its affiliates and subsidiaries, including Galileo Financial Technologies, LLC and Technisys S.à.r.l. and its subsidiaries (collectively “SoFi,” ” we,” or “us”).

Personal Information We Collect and Why We Collect It

Identification data – such as your name, date of birth, alias, unique personal identifier, online identifier, Internet Protocol address, account name, website username and password, and other identifiers. Identification data may also be categorized as sensitive personal information as described below.

We collect this information to

• verify your identity.

• record and demonstrate how we have conducted the application and recruitment process;

• authenticate use/user, detect potential fraudulent use, and otherwise maintain the security of the system; and

• enable third parties in the performance of background checks.

Contact details – postal address, email address(es), phone number(s).

We collect this information to

• communicate with you and internal parties, on a strict need to know basis, regarding the application process.

Protected classification characteristics– such as age or, if you choose to provide, we collect information about gender, race, veteran status. Information relating to protected classification characteristics may also be categorized as sensitive personal information as described below.

We collect this information to

• document inclusion practices and/or statutory requirements.

• ascertain employment eligibility.

Professional or employment-related details – such as past/current job title/position, hire and separation dates and employer name.

We collect this information to

• review background and skills relative to role(s) for which you apply.

• confirm information related to your prior employment.

Educational and professional background details – such as, schools attended, dates of attendance and status of graduation. In certain cases, you may also provide us with your official educational documentation, such as transcripts.

We collect this information to

• confirm information related to your education.

Commercial and transactional information (United States only)– such as, records of personal property, products or services purchased, obtained, or considered, or other purchasing or consuming histories or tendencies.

We collect this information to

• when applicable, perform a credit check after your acceptance of a conditional offer of employment.

Audio and visual information – such as images and sounds captured during virtual meetings or closed-circuit recordings during on-site interviews.

We collect this information to

• conduct virtual and phone interviews.

• take security precautions in or near our office locations.

Internet or other electronic network activity information (United States only) – such as, browsing history, search history, and information regarding your interaction with websites, internet applications, or advertisements.

We collect this information to

• enable site functionality and accessibility.

• manage access and provide security.

• deliver a personalized experience, such as displaying open jobs that may interest you.

• market and advertise.

Inferences, drawn from any of the information identified above to create a profile about a consumer reflecting your preferences, characteristics, psychological trends, predispositions, behavior, attitudes, intelligence, abilities, and aptitudes.

We collect this information to

• match you with jobs.

• help determine suitability to role(s).

Sensitive Personal Information We Collect

Unique / National identifiers – such as a national ID/passport, Social Security number (US only), driver’s license number (optional), and national insurance number. In certain instances, we may be required to collect information related to your visa.

We collect this information to

• verify your identity.

• ascertain employment eligibility.

Protected classification characteristics under California or federal law – if you choose to provide the following, we collect information about gender, race, and whether you require reasonable accommodations. Please note that SoFi does not require that you provide this information to submit a job application.

We collect this information to

• document inclusion practices.

• make reasonable disability adjustments and accommodations, as applicable.

Biometric information – such as fingerprints, faceprints, and voiceprints. We only collect biometric information AFTER acceptance of conditional offers for certain roles, such as positions that require access to books and records of broker-dealers.

We collect this information to

• perform due diligence surrounding positions that will require access to books and records of broker-dealers.

We do not share or sell sensitive personal information.

Legal Basis to Process Job Applicant Data

We will process your personal information where there is an appropriate legal basis to do so. These bases include processing personal information:

• to perform a contract or take steps to enter into an employment contract with you;
• when necessary for us to comply with any applicable legal or regulatory obligation; and
• in any other case where you voluntarily provided your personal information and consent to processing for the relevant purposes as described in this Notice.

Where the collection or processing is based on your consent, you may withdraw your consent at any time to the extent permitted by applicable law provided that any revocation of your consent will not affect the lawfulness of any processing which has already lawfully occurred.

Sources of Personal Information

SoFi collects your personal information from different sources.

Directly from you or your authorized agents. For example, from forms you complete; your resume and other documents you share; and from communications you have with SoFi.

Indirectly from you. For example, from your actions on our website (www.sofi.com) or our mobile application.

Professional employment job boards, such as LinkedIn, when you apply or share your profile information with us.

Social media sites.

Marketing providers.

Marketing platforms for customer relationship management.

Personal references.

Applicant tracking systems.

Recruiting and staffing agencies.

Background check providers.

Online testing platforms.

Personal Information shared for Business Purposes

We share personal information with the following third parties for our business purposes.

Greenhouse – We have employed Greenhouse to help us manage and optimize our recruiting and hiring processes. Greenhouse processes your information as a Service Provider or Business. Please visit Greenhouse’s Privacy Policy to learn more about their privacy practices regarding these services. We also use Gem, a connector tool, to pull data from Greenhouse.

Systems to manage human resources processes – We use cloud-based technology in the management of our human resources business processes from recruiting to onboarding of newly hired employees. We share your personal information in the management of these systems. If support is required regarding the use of the recruitment portal, we may share your personal information to resolve the matter.

Data storage providers – We use cloud-based providers to securely store your personal information.

Online testing providers – Depending on the job to which you applied, we may ask you to complete an online assessment carried out by third parties. To enable this service, we share your personal information so that you can access and take the test.

Sales and marketing providers – We may share personal information for marketing purposes. However, we only market to people who have opted into marketing communications.

Background check providers – We share your personal information with third parties to undertake a pre-employment background check.

Credit reporting agencies – When applicable, we may share your personal information with credit reporting agencies to perform a credit check. In these cases, we follow all applicable legal requirements and obtain your consent before sharing your personal information for this purpose.

Other service providers – We share personal information with third parties that provide services on our behalf to support our business functions and services. For example, we use third-party service providers to communicate with you via email, phone, and text; review and analyze our websites, processes, and tools, and develop and improve our recruiting and employee applicant processes and systems.

Law firms – We may share personal information with our immigration law firm to handle visa evaluations, transfers, filings, and other related services for our foreign national candidates and employees. We only share the necessary information to facilitate these processes and ensure compliance with all legal and regulatory requirements.

Law and regulatory agencies – We may be required to share your personal information in response to a valid subpoena or warrant from law enforcement agencies where we consider it necessary for the protection of our employees, members, customers, or our business interests. If we receive a complaint or inquiry from you or a relevant regulator, we may share your personal information to facilitate proper handling of the matter. We may also share your personal information, as necessary, to establish, exercise, or defend against potential, threatened or actual civil litigation or criminal prosecution.

Acquirers of our business or assets – We may share your personal information to protect the vital interests of another person in connection with the sale, assignment, or other transfer of all or part of our business, or with your consent.

Professional Advisors. We may share your personal information with professional advisors, such as lawyers, auditors, and insurers, where necessary in the course of the professional services that they render to us.

Artificial Intelligence

We incorporate AI functionalities to assist with our interviewing process. This includes an AI-powered interview tool that records and transcribes interviews to aid our hiring team.

For this functionality, we process only the necessary personal information, which includes the audio and video from the interview with your consent. We ensure that your personal information is not available to the supplier’s other users and is not used to train the supplier’s AI models. The final hiring decision is always made by a human. You may opt out of the use of this feature at any time prior to or during the interview.

Short Message/Messaging Service (SMS)/Text Messages

SoFi offers the option to engage in SMS text conversations about your job application. By participating, you also understand that message frequency may vary depending on the status of your job application, and that message and data rates may apply. Please consult your carrier for further information on applicable rates and fees. Carriers are not liable for delayed or undelivered messages. You may reply STOP to cancel and HELP for help.

By opting-in to receiving SMS text messages about your job application, you acknowledge and agree that your consent data, mobile number, and personal information will be collected and stored solely for the purpose of providing you with updates and information related to your job application and in furtherance of your candidacy. No mobile information will be shared with third parties for marketing, promotional, or any other commercial purposes.

Personal Information Sold or Shared

As an employee applicant we do not sell your personal information. However, while visiting/using this website, information may be shared for behavioral advertising. If you would like to opt out of this type of information sharing, please go to the section titled “How to Opt Out of Personal Information Sharing for Behavioral Advertising.”

Please review SoFi’s Privacy Policy for more details about the categories of personal information we share for behavioral advertising.

Cookies and Other Tracking Technologies

Cookies – a small piece of data or text file that a website asks your browser to store on your device when you visit a site. Sometimes this file is used to remember information about you, such as submissions, preferences, and login status. . Cookies used on our site include “session cookies” that are deleted when a session ends, “persistent cookies” that remain longer, “first party” cookies that we place”, and “third party” cookies that we place on our websites and app for social media, advertising, analytics companies, and other service providers.

Logical Storage Technologies – like HTML5, that provide cookie-equivalent functionality but can store larger amounts of data on your device outside your browser in connection with specific applications.

Pixels or Web Beacons – also known as pixel tags or clear GIFs, enable collection, storage, and sometimes sharing of your information and/or your actions taken, such as whether you accessed or opened a webpage or email or that you viewed or clicked certain content. Certain pixels include computer-code snippets that enable the collection and sharing of information back to web servers of third parties.

Session Replay Technologies – SoFi will capture your use of our website and may record your use. We use third-party services that employ software code to record users’ interactions with the website in a manner that allows us to watch DVR-like replays of those user sessions. The replays include users’ clicks, mobile app touches, mouse movements, scrolls and keystrokes/key touches during those sessions. These replays help us diagnose usability problems and identify areas for improvement. We may use the Cookies and similar technologies for the following purposes:

• Technical Operation – to allow the technical operation of our services, such as by remembering your selections and preferences as you navigate our websites and app.

• Functionality – to enhance the performance and functionality of our services.

• Advertising – to help our third-party marketing providers collect information about how you use our Services over time to show you ads on other online services they believe will interest you and measure how the ads perform.

• Analytics – to help us understand user activity on our website, including which pages are most and least visited and how visitors move around the website, as well as user interactions with our emails. For example, we use Google Analytics for this purpose. You can learn more about Google Analytics and how to prevent the use of Google Analytics relating to your use of our sites here: https://tools.google.com/dlpage/gaoptout?hl=en.

You generally can accept or decline cookies. Most web browsers give you a choice to modify your browser settings to decline some or all cookies. Not accepting cookies may make certain features of the site unavailable to you. To opt out of cookies on our site, click the “Your Privacy Options” link in the footer of our website, click “cookie choices” and select your preference.

Third-Party Websites

This website may contain links to other websites, including social media websites hosted by third-party providers; however, this Privacy Notice only addresses SoFi’s collection, use, and disclosure of your information collected for purposes of employment candidacy. If you choose to link to an external website, you will leave our website and we are not responsible for the privacy practices of any third parties or the content of linked websites. We encourage you to read the applicable privacy policies/notices of these parties or websites.

Personal Information of Children

We do not knowingly collect the personal information of children under the age of 16.

Retention of Personal Information

We retain your personal information, including sensitive personal information, for three (3) three years and may use it for the following purposes:

•should you become an employee, to maintain an ongoing employee relationship with you.

•to enable you to perform obligations and duties as part of the employee/employer relationship.

•as necessary in connection with the lawful purposes set out in this Privacy Notice.

•to comply with applicable laws.

•to establish, exercise or defend our legal rights.

Data Privacy and Protection Rights

Depending upon the jurisdiction in which you reside and subject to applicable exemptions, you may have certain data privacy rights, including the following.

• The right to know what personal information we have collected about you, including the categories of personal information, the categories of sources from which the personal information is collected, the business or commercial purpose for collecting, selling, or sharing personal information, the categories of third parties to whom the business discloses personal information, and the specific pieces of personal information the business has collected about you.

• The right to request the deletion of certain personal information collected by us.

• The right to correct inaccurate personal information.

• The right to know/access or receive a disclosure of your personal information in a portable format.

• The right to know what personal information is sold or shared and to whom.

• The right to opt-out of the sale or sharing of your personal information.

• The limited right to, limit the use and disclosure of sensitive personal information.

• The right to not be retaliated against for opting out or exercising any other rights, including an employee’s right not to be retaliated against for the exercise of their rights.

• The right to object to processing of personal information that is based on legitimate interest.

• The right to withdraw consent for processing that is based on consent.

• The right to lodge a complaint with a supervisory data protection authority (EU and UK).

United Kingdom and the European Economic Area

In addition to the rights detailed in the “Data Privacy and Protection Rights” section, the following rights are available.

• Right to object to processing – You have the right to object to the processing of your personal data in situations where we rely on legitimate interests to lawfully process personal data. This includes the right to object to the processing of your personal data, by us or on our behalf, for direct marketing purposes.
• File a Complaint – You have the right to lodge complaints with a supervisory authority regarding the processing of your personal data by us or on our behalf.
• Automated profiling – You have the right not to be subject to a decision based solely on automated processing, including profiling, which produces legal effects concerning you or significantly affects you.

In cases where you have provided explicit consent or the automated decision is necessary to enter into a contract with us, we have implemented suitable measures to safeguard your rights, freedoms, and legitimate interests by allowing you to (a) obtain human intervention regarding the decision, (b) express your point of view, and (b) contest the decision.

How to Exercise Your Privacy Rights

We take steps to verify your identity when you submit a request to delete, access, or correct your personal information. We do this to protect you and your information. To exercise any of these rights, please email us at [email protected] or call us at 1-855-456-SOFI (7634).

Right to Access Your Information

If you’d like to access the personal information we hold about you, please submit a request through this form.

When requesting access to your personal information, please note we may request specific information from you to enable us to verify your identity. If we cannot provide you with access to your personal information, we will inform you of the reasons.

Right to Delete Your Information

If you’d like to request that the data we hold about you be deleted, please submit a request through this form.

We will delete your information that is not subject to an exception from SoFi’s systems. Please note that in certain cases it may be necessary for us to retain your data to comply with applicable law(s).

Right to Correct Inaccurate Information

If you believe we have information about you that is inaccurate, you may submit a request to have your information corrected. Please submit correction requests to [email protected] and include the following:

• Your full name,

• Email,

• Phone number, and

• Description of the information you would like corrected.

Right to Opt Out of the Sale and Sharing of Personal Information

We do not sell or share personal information collected directly from you as part of the employee applicant/recruiting process.

By using this site, we may sell/share information for behavioral advertising collected. Please review “How to Opt Out of Personal Information Sharing for Behavioral Advertising” for instructions on how to opt out of SoFi’s sale/sharing of personal information for cross-context advertising.

How to Opt Out of Personal Information Sharing for Behavioral Advertising

Registered Users

SoFi.com registered users may opt out of the sharing of their personal information for cross-contextual behavioral advertising by logging into their account and toggling the button under the “Personal Information Privacy Preferences” section to “No, Don’t Allow Sharing.”

Logged Out Users or Unregistered SoFi.com Users

Click here or the “Privacy Choices” link at the bottom of the page.

Right to Limit the Use of Sensitive Personal Information

SoFi does not use your sensitive personal information to make inferences about you for purposes that are not reasonably related to the purpose for which we collected your information.

Opt-Out Preference Signal

SoFi processes browser opt out signals in a frictionless manner. If your browser is enabled to recognize the Global Privacy Control (GPC), we will interpret this as a valid request to not sell or share your personal information. Other than GPC, we do not recognize any “Do Not Track” signals.

New York Privacy Rights

Please be aware that if you come into a SoFi facility as part of the interview process or when you communicate with a SoFi employee, these communications via telephone, wire, radio, computer, email, or activities captured via photo-optical systems in the SoFi locations, may be subject to monitoring at any and all times by any lawful means.

Your Colombia Privacy Rights

Under Law 1581 of 2012 and its Regulatory Decrees, You have the right to know, update, and rectify your personal information; request proof of the authorization granted; revoke your authorization and/or request that your data be deleted when there is no legal or contractual obligation that prevents it, and access free of charge the data that is subject to processing. You may also file a complaint before the corresponding authority when applicable.

To exercise your rights, please submit a request through this form.

International data transfers

Personal information about you is transferred, accessed, and stored globally including in countries or regions outside of the one in which you reside. In the event your personal information is transferred from one country to another that does not provide an adequate level of protection for personal information, SoFi will take measures to ensure your personal information is adequately transferred and protected in compliance with applicable laws.

Contact

To exercise any of your available rights or contact us with questions, submit a request by using our self-service Personal Information Request Form or by calling us at 1-855-456-SOFI (7634).