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2023
SoFi Blog
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2023
SoFi Joint Bank Account
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A checking and savings account for you and yours.
Our joint bank account allows two adults to build toward the future as a team. Pay no account fees* and get up to a $300 cash bonus†, plus up to 3.60% APY when you set up direct deposit.‡
Open an account
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Open a joint bank account designed to help you reach your goals together.
Our joint bank account has the features you need to help secure the financial future you want.
An APY that’s 9x the national average savings rate.^
Once you set up direct deposit or add $5,000 every 30 days, you can take advantage of up to 3.60% APY.‡
Make unlimited transfers.
With SoFi, there are no limits on the number of transfers you can make—and no account fees. *
Overdraft coverage without the fees.**
If you’re short on a purchase, we’ll cover you up to $50 with no fee.
Joint account awards mean one thing.
You’re sharing a really, really good bank account.
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Simply better together.
Savings and checking together just makes sense. Opening a joint savings account with SoFi means you’ll get a joint checking account too, and vice versa. You’ll earn up to 3.60% APY on your shared savings account, and up to 0.50% APY on your shared checking account.‡ Plus, both account holders can receive their paychecks up to two days early with direct deposit.††
Open an account
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JOINT BANK ACCOUNT
Joint account or individual account? Have it both ways.
You asked for it, so you got it! In the coming weeks, every SoFi Checking and Savings member will have the option to hold both an individual and joint account. This is just one of many upgrades to come as we make our award-winning banking better for families, so stay tuned.
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Experience 9x the national average savings rate with no minimum balance.
Our joint bank accounts come with up to a 3.60% APY when you set up direct deposit or add $5,000 every 30 days‡. That means you’ll earn more interest in five weeks than you would in a year with a big bank. Plus, there are no maintenance or transfer fees.* Start banking better, together, today.
Open an account
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Our benefits are big enough to share.
When you set up a joint banking account, you and your partner both get in on all that SoFi has to offer.
There are no account fees* or minimum balances.
We don’t charge maintenance fees or require minimum balances on joint bank accounts.
Get paid up to two days early.††
By setting up direct deposit, both account holders can receive their paychecks up to two days early.
Meet your joint savings goals with Vaults.
SoFi Vaults give account holders the chance to save money toward a specific goal. Whether you want to save up for a vacation or a future wedding, Vaults can help.
Manage everything through the app.
Through the SoFi banking app, account holders can easily log in to check their balance, make deposits, transfer money, and receive helpful insights.
Earn more on debit card purchases.
Up your savings with Roundups. Each debit card purchase will be rounded up, and the remainder will be added to a savings Vault of your choice.
Access 55,000+ fee-free ATMs.‡‡
Use your SoFi Debit Card anywhere Mastercard is accepted, and get access to over 55,000 ATMs without extra fees.
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Provide the basics.
Answer a few questions on our website or mobile app. It should take 60 seconds or less.
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Add a joint account holder.
We’ll send your partner an application to fill out. Once they complete it and you approve it, they’ll become a joint owner of the account.
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Set up direct deposit.
Set up direct deposit to unlock the best of SoFi, like up to 2-day-early paycheck††, no-fee overdraft coverage**, and an up to a $300 cash bank bonus!† More information here.
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How to set up a joint bank account with SoFi.
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Meant to be.
Are you two ready to take the next step? Open a joint bank account online to get started today!
Open an account
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FAQs
A joint bank account gives designated account holders complete and unlimited access to the account. Account holders can contribute, withdraw, and transfer money to and from their shared checking and savings accounts.
Learn more: What Is a Joint Bank Account?
With SoFi, it’s easy to add anyone to your account. Simply visit your Checking and Savings dashboard, go to “More,” and select “Joint account holder.” The person you choose will receive an invitation, complete an application, and then you will need to approve their access.
You must be 18 years or older to apply for a joint bank account with SoFi.
Once you open a joint account with SoFi, you’ll need to wait at least 7-10 business days for your debit card to arrive.
Combining two individual accounts into a joint account is currently not possible. Instead, the primary account user must send the secondary account user an invitation to create a new profile. Once they accept the invitation, the second user will be added to form the joint account.
As long as you have monthly direct deposits of at least $1,000, you will have overdraft coverage of up to $50 total.** However, if one account holder disables overdraft coverage, it will affect the other user.
Both SoFi joint bank account holders receive FDIC insurance up to $250,000, for $500,000 in total coverage.1 SoFi Checking and Savings members can get additional FDIC insurance up to $3M by enrolling in the SoFi Insured Deposit Program. The total amount of FDIC insurance for your account under this program is limited to $3M.6
Good news: in the coming weeks, every SoFi Checking and Savings member will have the option to hold both an individual and joint account. This is just one of many upgrades to come as we make our award-winning banking better for families, so stay tuned.
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More resources on joint bank accounts
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