Jan

2026

NPR Banking Test Page

By Derek Stratton | Uncategorized | Comments Off

Bank Accounts for Non-Permanent Residents

How to open a U.S. bank account as a non-permanent resident.

If you’re new to the U.S., having a domestic bank account can make your financial life simpler and more secure. Here’s key information on how to open a SoFi Checking and Savings account as a non-resident, including eligibility requirements, what you’ll need, and the steps to follow.

Open an account

What you need to get started.

To open an online bank account as a non-permanent resident, you’ll need to provide identification, a tax identification number, and proof of a U.S. address. You’ll also need to be 18 years old or older and provide an email address and phone number.

Photo ID

You’ll need to provide an official, government-issued photo identification document to prove your name and birth date. Eligible documents include an unexpired passport, driver’s license with photo, U.S. Employment Authorization Card with photo, and student ID with photo.
Proof of Address

You may also need to show proof of your U.S. address. For this, you can use a government-issued photo ID, current utility bill (electricity, water, internet, etc.) with your name and address, an employer paycheck or pay stub, or a copy of your lease agreement.
Identification Number

SoFi Checking and Savings accounts pay interest, which is taxable. To comply with tax-reporting requirements, you’ll need to provide a Social Security number (SSN) or an Individual Taxpayer Identification Number (ITIN). If you’re not a U.S. citizen, you can apply for an ITIN through the International Revenue Service (IRS).

Apply for a U.S. bank account in 3 steps:

At this time, SoFi offers individual and joint SoFi Checking and Savings accounts (trust and business accounts are not currently available).
Here, you’ll learn the three basic steps needed to open a U.S. bank account for non-residents.

Gather the required documents

Before you begin your application, you’ll want to make sure you have all of the documents required to open an account, including a valid photo ID, proof of address, and an SSN or ITIN. You’ll also need to have the name and contact details for your U.S. employer.
Open the account online

You can apply for a non-resident bank account with SoFi online. You’ll enter your personal information, citizenship status, and SSN or ITIN. You’ll also need to select your employment status, employer details, and upload the required documents.
Make a deposit

Once approved, you can deposit funds into your new checking account via online transfer or wire. You can also make cash deposits at participating retailers using your SoFi debit card (some retailers may charge a fee).

Open an account

AVAILABLE NOW!

Supporting family abroad just got easier.

Sending money back home shouldn’t be a hassle. SoFi Checking and Savings offers a fast, low-cost way to send funds to 30+ countries including Mexico, India, and Brazil.¹ Handle your international transfers and daily banking all within the same SoFi app.

Learn more

Benefits of opening a U.S. bank account.

While it’s possible to function in the U.S. with a foreign bank account, having access to a U.S. bank account comes with a number of advantages.

2‘,
title: ‘Increased financial security’
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text: ‘Having a savings account in the U.S. can help you build a financial cushion for emergencies or unexpected expenses while you’re far from home and extended family. And if you choose a high-yield savings account, your money can earn an above-average interest rate, which can help you build your savings over time.’,
title: ‘Building financial stability ‘
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FAQs

Can a non-citizen open a bank account in the US?

Yes, a non-citizen can open a bank account in the U.S. provided they have the proper documentation. To open a SoFi Checking and Savings account as a non-citizen, you will need a valid photo ID and an SSN or ITIN, which you’ll enter along with other personal details.

Can I open a US bank account without a US address?

Currently, you cannot open a SoFi Checking and Savings account without a physical U.S. address.

Can I open a US bank account without an SSN?

Yes, it’s possible to open a U.S. bank account without a Social Security number (SSN). If you don’t have an SSN, you can open a SoFi Checking and Savings account with an Individual Taxpayer Identification Number (ITIN) instead. To get an ITIN, you usually need to fill out a form with the Internal Revenue Service (IRS).

How do I receive/send money locally or from abroad?

At SoFi, domestic but not international wire transfers are available for sending and receiving funds. Within the United States, you can also complete a bank transfer in the app. Or you might write or deposit a check or use a bill pay option.

SoFi > Personal Banking > Non-Permanent Resident Bank Account

Jan

13

2026

International Student Banking Test Page

By Derek Stratton | Uncategorized | Comments Off

Bank Accounts for International Students

How to open a U.S. bank account as an international student.

If you’re an international student, opening a bank account in the U.S. can smooth your transition to university and make it easier to manage tuition and rent payments, as well as day-to-day expenses. Having a domestic account can also help keep your money secure and eliminate foreign transaction fees. Here’s how to open a bank account with SoFi as an international student.

Open an account

What you need to get started.

To open a bank account as an international student, you’ll need to be at least age 18 and provide specific documents to verify your identity and address. We’ll ask you for:

Identification

You’ll need to present a photo ID, such as a valid passport or government-issued ID.
Proof of address

You’ll also need to show proof of your U.S. address, which may be your dorm room or off-campus apartment. For this, you can use a student ID with an address and photo, a utility bill, lease agreement, or letter from the university documenting the address.
Tax identification number

To be eligible for a bank account, you’ll need to provide a tax ID number, such as a U.S. Individual Taxpayer Identification Number (ITIN) issued by the Internal Revenue Servicer (IRS).

Apply for a U.S. bank account in 3 steps:

In general, there are several different types of U.S. bank accounts that international students might apply for, such as the individual and joint accounts that SoFi offers (we don’t currently offer business or trust accounts). Here, you’ll learn the basic steps for applying for a SoFi Checking and Savings account when you are an international student.

Gather the required documents

Make sure you have your photo ID, proof of address, and other required documents. Double-check that all documents are valid and up-to-date to avoid any delays in the application process.
Open the account online

You can apply for a SoFi Checking and Savings account as an international student online. You’ll simply need to create a log-in, fill out an application form, and submit scanned copies of your documents.
Make a deposit

Once your account is approved, you can make an initial deposit via online transfer or wire. Additionally, you can also deposit cash into your student account at participating retailers using your SoFi debit card (note that a fee may be charged).

Open an account

AVAILABLE NOW!

Send money abroad without the hassle.

Keep your focus on your studies and let us make it easier to send money home. SoFi Checking and Savings offers a fast, easy, and low-cost way to transfer funds to 30+ countries including Mexico, India, and Brazil.¹ Manage your international transfers and your everyday banking all within the same SoFi app.

Learn more

Benefits of opening a U.S. bank account.

Here’s how a U.S. bank account can provide financial convenience, security, and stability for international students while studying abroad.

2, and security measures to safeguard your funds from unauthorized access or loss.’,
title: ‘Safeguarding your funds’
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text: ‘Opening a bank account as an international student can help you establish a financial footprint in the U.S., while earning interest on your funds.

While bank accounts typically do not build credit, having a U.S. bank account can be an important hub for earning, spending, and saving cash responsibly, thereby helping you manage your money better.’,
title: ‘Building a financial history’
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FAQs

Can I open a US bank account without a US address?

As an international student, you need to present proof of address in the U.S. to open a SoFi Checking and Savings account. This could be your dorm address.

Can I open a US bank account without an SSN?

Yes, you can open a U.S. bank account without a Social Security number (SSN). To open a SoFi Checking and Savings account, you can submit an Individual Taxpayer Identification Number (ITIN) instead of an SSN. This can be obtained from the Internal Revenue Service (IRS) or an IRS-authorized Certifying Acceptance Agent.

Can international students open a US bank account?

Yes, international students can open a U.S. bank account. To open a SoFi Checking and Savings account, you can upload such documents as a valid photo ID and proof of U.S. address, as well as providing your SSN or ITIN. If you want to take advantage of SoFi’s sign-up bonus offer for students, you’ll need to use your .edu email address when doing so.

Can international students open a US bank account without a parent?

An international student can open a SoFi Checking and Savings account without a parent, provided they are 18 years of age or older, and that they have the required credentials, such as photo ID, a U.S. address, and an SSN or ITIN.

SoFi > Personal Banking > Student Offer > International Student Bank Account

Jan

12

2026

Week Ahead on Wall Street: Banks Kick Earnings Off

By Mario Ismailanji | | Comments Off

The unofficial start of the fourth-quarter earnings season is here, and as is tradition, the nation’s financial titans will be leading the charge.

Results for companies including JPMorgan Chase (JPM) and Bank of America (BAC) are critical because banks effectively act as the plumbing for the U.S. economy. Investors will be laser-focused on loan demand, credit card spending, and, perhaps most importantly, delinquency rates. Are consumers keeping up with their bills? Are businesses still borrowing to grow? Against forecasts for economic reacceleration in 2026, this information will help us gauge reality.

We’re also scheduled to receive the latest Consumer Price Index (CPI) and Producer Price Index (PPI) data, which will go a long way in refereeing the debate about whether inflation is truly vanquished. A soft inflation reading would support the camp of Federal Reserve officials who want to keep cutting interest rates this year, while a hot number could hand the hawks the evidence they need to push for a pause.

Economic and Earnings Calendar

Monday

• Fedspeak: Atlanta Fed President Raphael Bostic will moderate a discussion with the CEO of Intercontinental Exchange and Chair of the NYSE. Richmond Fed President Tom Barkin will take part in a fireside chat at a North Carolina Bankers Association event. New York Fed President John Williams will deliver keynote remarks at a Council on Foreign Relations event.

Tuesday

• December NFIB Small Business Optimism: This measures how small business owners feel about current and future economic conditions.

• December Consumer Price Index: The CPI is one of the most popular indicators for tracking consumer price trends and is a marquee release for market watchers.

• October New Home Sales: While only a minority of home transactions in any given month come from new constructions, these home prices tend to be more cyclical and give insight into developing trends.

• December Treasury Statement: This summarizes the U.S. federal government budget by tracking government revenues and expenditures.

• Fedspeak: St. Louis Fed President Alberto Musalem will discuss the economic outlook and monetary policy on an MNI webcast. Barkin will take part in a moderated discussion at a CFO Society event.

• Earnings: Bank of New York Mellon (BK), Delta Air Lines (DAL), JPMorgan Chase (JPM)

Wednesday

• November Producer Price Index: The PPI tracks price trends that producers face and is down significantly from its peak earlier in the cycle.

• November Retail Sales: This measures spending at retail stores and is a key indicator of consumer demand.

• December Existing Home Sales: Most home transactions in any given month tend to come from the existing market, and as a result set the tone for the broader housing market.

• Weekly Mortgage Applications: Mortgage activity gives insight on demand conditions in the housing market.

• Fedspeak: Philadelphia Fed President Anna Paulson will discuss the economic outlook at a Chamber of Commerce for Greater Philadelphia event. Fed Governor Stephen Miran will speak at the Delphi Economic Forum in Athens. Minneapolis Fed President Neel Kashkari will take part in a virtual event with the Wisconsin Bankers Association. Bostic will take part in a moderated discussion with the Atlanta Business Chronicle. Williams will deliver opening remarks at the regional Fed’s annual An Economy That Works for All event.

• Earnings: Bank of America (BAC), Citigroup (C), Wells Fargo (WFC)

Thursday

• November Import/Export Price Indexes: These indexes track the changes in the prices of nonmilitary goods and services traded between the U.S. and the rest of the world.

• January Empire State Manufacturing Activity: The New York Fed’s survey of manufacturing executives in the region on business conditions and their outlook.

• January Philadelphia Fed Manufacturing Activity: The Philadelphia Fed’s survey of manufacturing executives in the region on business conditions and their outlook.

• Fedspeak: Bostic will deliver remarks at the Metro Atlanta Chamber’s Board of Directors meeting. Barkin will discuss the economic outlook at a Virginia Bankers Association event.

• Earnings: BlackRock (BLK), Goldman Sachs Group (GS), JB Hunt Transport Services (JBHT), Morgan Stanley (MS)

Friday

• January New York Services Activity: The New York Fed’s survey of manufacturing executives in the region on business conditions and their outlook.

• December Industrial Production and Capacity Utilization: The industrial sector accounts for much of the cyclical swings in economic activity.

• January NAHB Housing Market Index: This index tracks how homebuilders feel about the current and future state of the single-family housing market.

• October Building Permits and Housing Starts: Construction data is a leading indicator of economic activity.

• January University of Michigan Consumer Sentiment: How consumers feel about economic conditions affect their spending habits. This survey places a particular focus on inflation and its trajectory.

• Fedspeak: Fed Vice Chair Philip Jefferson will deliver a keynote address at an American Institute for Economic Research conference.

• Earnings: M&T Bank (MTB), PNC Financial Services Group (PNC), Regions Financial (RF), State Street (STT)

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Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.

The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.

SoFi isn't recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.

Jan

09

2026

Dana HP Banners

By Dana Paltao | Uncategorized | Comments Off

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Mortgage Loan Terms

⁵ 10-YEAR Payment Example: The payment for a 10-year term, loan amount $362000.00, Rate 5.250%, LTV 80% is $3884.00 for full Principal and Interest Payments with $5194.70 due at closing. The Annual Percentage Rate is 5.767%. No prepayment penalty. Payment shown does not include taxes and insurance. The actual payment amount will be greater. Interest rates and annual percentage rates (APRs) are for informational purposes only and are subject to change without notice.

⁶ 15-YEAR Payment Example: The payment for a 15-year term, loan amount $362000.00, Rate 5.125%, LTV 80% is $2886.00 for full Principal and Interest Payments with $4901.48 due at closing. The Annual Percentage Rate is 5.474%. No prepayment penalty. Payment shown does not include taxes and insurance. The actual payment amount will be greater. Interest rates and annual percentage rates (APRs) are for informational purposes only and are subject to change without notice.

⁷ 20-YEAR Payment Example: The payment for a 20-year term, loan amount $362000.00, Rate 5.750%, LTV 80% is $2542.00 for full Principal and Interest Payments with $6041.78 due at closing. The Annual Percentage Rate is 6.072%. No prepayment penalty. Payment shown does not include taxes and insurance. The actual payment amount will be greater. Interest rates and annual percentage rates (APRs) are for informational purposes only and are subject to change without notice.

⁸ 30-YEAR Payment Example: The payment for a 30-year term, loan amount $362000.00, Rate 5.875%, LTV 80% is $2141.00 for full Principal and Interest Payments with $6030.92 due at closing. The Annual Percentage Rate is 6.117%. No prepayment penalty. Payment shown does not include taxes and insurance. The actual payment amount will be greater. Interest rates and annual percentage rates (APRs) are for informational purposes only and are subject to change without notice.

Personal Loan Terms

Fixed rates from 7.74% APR to 35.49% APR reflect the 0.25% autopay interest rate discount and a 0.25% direct deposit interest rate discount. SoFi rate ranges are current as of 2/7/26 and are subject to change without notice. Lowest rates reserved for the most creditworthy borrowers. Your actual rate will be within the range of rates listed and will depend on the term you select, evaluation of your creditworthiness, income, and a variety of other factors.

Loan amounts range from $5,000– $100,000. The APR is the cost of credit as a yearly rate and reflects both your interest rate and an origination fee of 0%-7%, which will be deducted from any loan proceeds you receive.

Autopay: The SoFi 0.25% autopay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. Autopay is not required to receive a loan from SoFi.

SoFi Plus Discount: SoFi Plus members are eligible for an interest rate reduction of 0.25% on a Personal Loan. To be eligible for the discount, you must meet the SoFi Plus eligibility criteria within 31 days of the funding of your loan. For complete SoFi Plus eligibility, please see the SoFi Plus terms. When you enroll in SoFi Plus, the discount will lower the interest rate that applies to your loan only during periods in which you are enrolled in SoFi Plus. The discount will be removed during periods in which SoFi determines you are not enrolled in SoFi Plus. Each time your loan is re-amortized, your monthly payment amount will change based upon the interest rate that was in place. SoFi reserves the right to change or terminate this offer for unenrolled participants at any time. You are not required to enroll in SoFi Plus to be eligible for Loan approval.

Jan

09

2026

Is 671 a Good Credit Score?

By Annie Luc | Uncategorized | Comments Off

Is 671 a Good Credit Score?

What Does a 671 Credit Score Mean?

Companies like FICO and VantageScore® use the data on your credit report (you have one with each of the three major credit bureaus) to assess how reliable you are as a borrower. Their analysis results in a credit score, which represents how responsibly you manage and repay your debts.

While there are multiple credit scoring models, the most popular one in the United States is FICO, where scores range from 300 to 850. So is a 671 credit score good on this model? Yes, but just barely. Here’s what FICO’s credit score ranges look like:

• Exceptional: 800 to 850

• Very Good: 740 to 799

• Good: 670 to 739

• Fair: 580 to 669

• Poor: 300 to 579

As you can see, a 671 credit score is just above the bottom threshold of what FICO deems a “good” score. There’s good news if you have a 671 credit score: Though you may not get the best rates and lowest fees, you shouldn’t have trouble qualifying for credit.

What Can You Get with a 671 Credit Score?

With a 671 credit score, you’ve officially landed in the “good” category on FICO’s scoring model. That means you should qualify for credit cards, personal loans, mortgages, and car loans.

That said, there’s still a lot of room for your score to grow. If you build your credit score over time, you may be able to qualify for loans with lower interest rates, more flexible terms, fewer and lower fees, and higher borrowing amounts.

Can I Get a Credit Card with a 671 Credit Score?

There is no minimum credit score to get a credit card. Those with lower scores may find, though, that what they are offered is different than someone whose score is in the very good or excellent range.

Some credit card issuers offer secured credit cards to borrowers with poor credit. These can come with high interest rates and require some form of collateral (usually a cash security deposit). Since you need to have the cash upfront for the security deposit, it’s not really useful for borrowing money you don’t already have — but it can help you build your credit score to qualify for a better unsecured card.

But if you have a 671 FICO Score, you are likely to have considerably more options. While many credit card issuers only offer rewards credit cards and travel credit cards to borrowers with very good or exceptional credit, borrowers with good credit can still usually still qualify for unsecured cards with decent rates and fees.

Ready to apply for a credit card? Compile a list of the best credit cards for good credit, see which ones you can prequalify for, and then apply for the offer that suits you best.

Can I Get a Personal Loan with a 671 Credit Score?

As with credit cards, there’s no single minimum credit score for personal loans. Each lender has its own requirements, and there are lenders out there who will offer secured personal loans (again, backed by collateral) to subprime borrowers — that is, those with credit scores at or near the low end of the spectrum.

A minimum credit score of 610 is generally required to qualify for a personal loan, with higher scores yielding better rates.

Borrowers who don’t have great credit may also be able to get a true unsecured personal loan, but interest rates can go as high as 36%, which makes this an expensive borrowing option. Online lenders, which you can find through personal lending marketplaces, can be a good place to start.

With a 671 credit score, however, your options for personal loans really start to open up. Lenders may offer you a higher loan amount, more flexible repayment terms, lower or no origination fees, and lower interest rates. This can be helpful if you are looking for a personal loan for credit card debt or, say, funds to pay off medical debt.

Just remember that credit scores are only one component of a personal loan lending decision. Lenders will also want to see that you have steady income to repay the loan and that you don’t already have too much debt in your name. When you research how to apply for a personal loan, you will see that your credit score, income, and outstanding debt are likely to be considered.

💡 Quick Tip: With average interest rates lower than credit cards, a personal loan for credit card debt can substantially decrease your monthly bills.

Can I Get a Mortgage with a 671 Credit Score?

Personal loans and credit cards are one thing, but will lenders allow you to buy a house with a 671 FICO Score? In many cases, yes. In fact, according to Experian®, 36% of Americans with a 671 FICO Score have a mortgage loan.

The minimum credit score to buy a house is usually 620 for conventional mortgages, but you could get approved for government-back loans (FHA loans, VA loans, and USDA loans, for instance) with scores ranging from 500 to 620.

Conventional loans often require a sizable down payment, so you’ll need to make sure you have enough money to fund the purchase. The lowest amount you can typically put down is 3%, but lenders may require you to put down more, even with a 671 credit score.

As with personal loans, when you go through the steps of how to get a mortgage, there are several factors involved. The underwriting process for a mortgage loan is complex and will include income and employment verification, among other forms of input.

Can I Get An Auto Loan with a 671 Credit Score?

The principles of buying a new or used car are similar to the other loans discussed here: The better your credit score, the better your chances are of approval — and at a lower interest rate. However, auto lenders typically use a special FICO Score, called the FICO Auto Score (250 to 900). Others may use a VantageScore 3.0 or 4.0 scoring model.

Generally, a 671 FICO Score should translate to approval for a typical car loan. Experian reports that 66% of Americans with a 671 credit score have an auto loan.

At a 671 credit score, you won’t qualify for the lowest rates and fees, but you should be able to get behind the wheel of your own car. In fact, there’s no real minimum credit score to buy a car. Even subprime borrowers can get approved, but interest rates can get notably high — and if they miss payments, the car, of course, serves as collateral.

You may still have trouble leasing a car with a 671 score, however. While there isn’t a set credit score needed to lease a car, borrowers with a 680 credit score or higher generally have more luck and get the best deals.

The Takeaway

Is a 671 credit score good? Yes, it is officially considered “good” on the FICO scale, though at the low end of the range. While you still won’t qualify for the lowest rates and fees and the best terms on mortgages, car loans, credit cards, and personal loans, you shouldn’t have trouble getting approved for these types of loans. Consider starting small, with a credit card or personal loan, and working to build your credit score before taking out a larger loan to buy a house or a car.

Think twice before turning to high-interest credit cards. Consider a SoFi personal loan instead. SoFi offers competitive fixed rates and same-day funding. See your rate in minutes.

SoFi’s Personal Loan was named NerdWallet’s 2024 winner for Best Personal Loan overall.

View your rate

FAQ

Can I buy a house with a 671 credit score?

Yes, you should be able to buy a house with a 671 credit score. The minimum threshold for a conventional mortgage is 620, so a 671 score puts you in good standing. You’ll also need steady employment and income and enough money for a down payment.

Can I buy a car with a 671 credit score?

Although auto lenders typically use the FICO Auto Score model, a 671 FICO Score typically means you can buy a car with an auto loan. If you can wait to build your score, however, you’ll likely qualify for a larger loan amount or better rate.

Photo credit: iStock/GOCMEN

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Is 671 a Good Credit Score?

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