Jun
08
2023
Walgreens’ Theft-Proof Makeover
Walgreens just unveiled a new store design in Chicago which some speculate was designed to cut down on theft.
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SoFi Blog
Tips and news—
for your financial moves.
Jun
08
2023
SoFi Transfer Money
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{/* https://www.sofi.com/banking/transfer-money/ */}
Easily transfer your money where and when you need it.
Easily and securely make unlimited transfers between your SoFi accounts, send money to external banks, and build your savings with automatic transfers.
Open an account
{/* How to make transfers */}
Simple ways to transfer your money
between bank accounts.
Move money instantly between SoFi accounts.
Navigate to “Transfer”.
Log in to the SoFi app or website and head to the Banking tab. Tap the “Transfer” button to get started.
Select your “From” and “To” accounts.
Choose which SoFi account you want to move money from (like Checking) and where you want to move it to (like Savings or a Vault).
Set the amount and frequency.
Enter the dollar amount you want to move. Here, you can also set up a recurring, scheduled transfer to put your savings on autopilot.
Review and move your money.
Double-check the details and confirm the transfer. Your money will be moved instantly.
Send funds to and from your other banks.
Navigate to “Transfer”.
Log in to the SoFi app or website and head to the Banking tab. Tap the “Transfer” button to get started.
Select your “From” and “To” accounts.
Choose which account you want to move money from and where you want it to go. Select your external bank account as your source or destination.
Link your bank (if it’s your first time).
If you haven’t connected an external account yet, you’ll be prompted to securely add your bank using your account and routing number.
Set the amount, review, and confirm.
Enter the dollar amount, confirm the details, and your transfer is on its way. External transfers typically take 2-3 business days to complete.
Looking to pay someone else?
We’ve got that covered, too. Whether you’re paying friends, buying a home, or sending money abroad, you can do it all from the SoFi app.
-
Zelle®1
A fast, safe, and easy way to send money to friends and family. All you need is their U.S. mobile number or email address.
Explore Zelle®
-
Wire transfers.
Need to send a large amount of money for a big purchase? Securely send domestic wire transfers for home down payments, car purchases, and more.
Explore wires
-
International transfers.
Make fast international transfers easily, right from the SoFi app. Enjoy low-cost, transparent pricing with all exchange rates and fees shown upfront.
Explore international transfers
{/*FAQs*/}
FAQ
Transfer limits depend on the method you’re using:
- Internal Transfers (between SoFi accounts): There are no limits to how much you can transfer between your SoFi Checking and Savings accounts.
- External ACH Transfers (to/from other banks): Limits are typically $50,000 per day, but can be as high as $100,000 per day for established members.
Transfer times depend on the method you’re using:
- Internal Transfers (between SoFi accounts): Instant.
- External ACH Transfers (to/from other banks): 1 to 3 business days.
It depends on the transfer type, so it’s important to be sure before you send:
- Internal Transfers (between SoFi accounts): Technically, you can’t cancel the transfer because the money moves instantly. However, you can just as instantly transfer it back to the original account if you change your mind.
- External ACH Transfers (to/from other banks): Yes, but only if the transfer is still in “pending” status.
This is a very common point of confusion. Here’s a simple way to break it down:
- External ACH Transfers: This is the standard way to move money between your SoFi account and an external bank account you own. They are free but typically take 1 to 3 business days to complete.
- Wire Transfers: These are best for large, time-sensitive domestic payments, like for a home purchase. They usually process the same day if sent by the cutoff time, but have a $30 fee. Wires are generally final and cannot be reversed.
- Zelle®: This is a fast, safe, and easy way to send money to other people (like friends and family) using just their U.S. mobile number or email address. Transfers typically happen in minutes.
We use a multi-layered security approach to protect your money and information. Your SoFi Bank deposits are FDIC-insured up to $250,000 (and up to $3 million through our partner network). We use SSL encryption to protect your personal and financial data, require two-factor authentication to prevent unauthorized access, and have systems in place that continuously monitor for fraudulent activity 24/7.
This can be done two ways:
- Instant: If you link your account using Plaid (by logging in with your other bank’s username and password), it’s linked instantly.
- 1-2 Business Days: If you link your account manually (using your account and routing numbers), it will take 1-2 business days to verify via micro-deposits.
We do not charge any fees for ACH transfers (moving money to or from your linked external bank accounts).2
See all FAQs
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More resources on transferring money
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Make your money move.
Give your funds the freedom to move. Open a SoFi Checking and Savings account today.
Transfer money
Open an account
Jun
08
2023
SoFi at Work Launches Student Loan Verification Service To Help Employees Pay Off Student Debt While Also Saving for Retirement
On the Heels of Congress’ Decision to Pass SECURE 2.0, SoFi at Work launches new service to expand access to employer matching contributions by counting student loan payments as elective retirement contributions
SAN FRANCISCO – Today, SoFi at Work – the leading holistic, financial well-being, and education assistance benefits partner to more than 1,000 organizations – announced the launch of a new Student Loan Verification (SLV) service. SoFi, the digital personal finance company and all-in-one app, announces this new addition to its portfolio of employer financial well-being benefit solutions in response to Congress’ approval of the Securing a Strong Retirement Act (SECURE 2.0). SECURE 2.0 includes an important change to retirement law that allows employers to match employees’ student loan payments with contributions toward retirement plans as part of an existing benefits program. For organizations looking to make the most of this policy change, SLV simplifies the process of linking matching employer retirement contributions to employee student loan repayments.
SLV helps the workforce make the most of retirement plans through 401(k) or 403(b) contributions, while still paying down student loan debt. As the cost of education has skyrocketed, student loan debt has more than doubled over the last 20 years, its impact on retirement savings has grown, too. A 2019 study from MIT found 84 percent of adults who carry student loan debt say it has impacted the amount they’re able to save for retirement. When it came to those who hadn’t saved for retirement at all, more than one in four respondents said it was because they had to put their money toward paying off student loans.
”At SoFi, we’re dedicated to helping people get their money right, and SECURE 2.0 and the provision that makes it easier for companies to support all employees’ financial well-being is a great example of that,” said Barrett Scruggs, Vice President, Business Lead, SoFi at Work. “Our Student Loan Verification service makes it easy for companies to put this emerging, yet highly impactful benefit into action for a more inclusive future.”
SoFi at Work partners with leading financial groups and record keepers to administer Student Loan Verification. The service provides a low-cost way to verify eligible student loan payments and deliver contributions for retirement matching – all employers need to do is determine employee eligibility based on student loan debt balances. From there, SoFi at Work handles the rest, including plan design, data security, and reporting.
SLV is part of a holistic financial well-being platform from SoFi at Work. The SoFi at Work Dashboard includes a variety of tools for employees including a debt navigator, refinancing options, financial education resources, and more. This comprehensive solution allows employers to meet the evolving needs of their diverse workforce.
To learn more about this new offering, visit www.sofi.com/sofi-at-work-slv/.
About SoFi
SoFi (NASDAQ: SOFI) is a member-centric, one-stop shop for digital financial services on a mission to help people achieve financial independence to realize their ambitions. The company’s full suite of financial products and services helps its more than 5.7 million SoFi members borrow, save, spend, invest, and protect their money better by giving them fast access to the tools they need to get their money right, all in one app. SoFi also equips members with the resources they need to get ahead – like career advisors, Credentialed Financial Planners (CFP®), exclusive experiences and events, and a thriving community – on their path to financial independence.
SoFi innovates across three business segments: Lending, Financial Services – which includes SoFi Checking and Savings, SoFi Invest, SoFi Credit Card, SoFi Protect, and SoFi Insights – and Technology Platform, which offers the only end-to-end vertically integrated financial technology stack. SoFi Bank, N.A., an affiliate of SoFi, is a nationally chartered bank, regulated by the Federal Reserve, OCC, and FDIC. The company 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.
Disclosures
Products available from SoFi on the Dashboard may vary depending on your employer preferences.
Advisory tools and services are offered through SoFi Wealth LLC, an SEC-registered investment adviser. 234 1st Street San Francisco, CA 94105.
SoFi Student Loan Refinance Loans, Personal Loans, Private Student Loans, and Mortgage Loans are originated through SoFi Bank, N.A., NMLS #696891 (Member FDIC), (www.nmlsconsumeraccess.org). The Student Debt Navigator Tool and 529 Savings and Selection Tool are provided by SoFi Wealth LLC, an SEC-registered investment adviser. Foradditional product-specific legal and licensing information, see SoFi.com/legal. 2750 E. Cottonwood Parkway #300 Cottonwood Heights, UT 84121. ©2023 Social Finance, LLC All rights reserved. Information as of June 2023 and is subject to change. RO 2933354
Jun
07
2023
SoFi Invest SEM
{/*invest sem-3*/}
All-in-one investing
that’s easy to use.
Trade stocks and ETFs, invest in IPOs at IPO prices, or try automated investing. Plus, you’ll get up to $1,000 in stock when you fund a new account.†
Trade now
Automated Investing and advisory services are provided by SoFi Wealth LLC. Brokerage services are provided to SoFi Wealth LLC by SoFi Securities LLC.
Active Investing and brokerage services are provided by SoFi Securities LLC, Member FINRA/SIPC.
†Customer must fund their Active Invest account with at least $10 within 30 days of opening the account. Probability of customer receiving $1,000 is 0.028%. See full terms and conditions.
{/*
New! All-in-one
investing.
Now with IPOs.*
Invest in IPOs before public trading begins, trade stocks, and ETFs or start automated investing.
*/}
{/* QR CODE */}
{/*
Download the app and get up to
$1,000 when you open an account.
**No purchase necessary. Probability of customer receiving $1,000 is 0.028%. See full terms and conditions.
*/}
More ways to
invest—all in one place.
Active Investing
Trade stocks and ETFs with no commissions or participate in upcoming IPOs before they trade on the public market. Plus, fractional shares mean you can buy a piece of your favorite companies for as little as $5. Restrictions may apply.**
Automated Investing
Not sure where to start? Tell us your risk tolerance and goals, and you’ll get a diversified portfolio automatically managed for you – with no SoFi management fee.
Retirement Accounts
Save for retirement with our active or automated Traditional, Roth, and SEP IRAs. Get access to a broad range of investment options, member services, and our robust suite of planning and investment tools.
{/* Comment out calculator module
Please review the Customer Relationship Summary (Form CRS) which contains important information about the product, services, fees, and conflicts of interests of SoFi Securities LLC.
You may also learn more about SoFi Securities LLC and its Representatives on FINRA’s BrokerCheck.
*/}
{/* Sam Added CRS module*/}
Please review the Customer Relationship Summary (Form CRS) which contains important information about the product, services, fees, and conflicts of interests of SoFi Securities LLC.
You may also learn more about SoFi Securities LLC and its Representatives on FINRA’s BrokerCheck.
Learn more about investing.
See more investing articles
FAQs
Many brokerages charge trading fees to use their platforms. SoFi Invest offers online stock trading with no commissions so you can trade what you want, when you want—all from the SoFi App.
Go to SoFi Invest Home in the mobile app, tap Get Started, select Start Investing under active investing account. There you’ll find step-by-step instructions on how to get started. Or if you prefer desktop, head here.
Yes! You can purchase fractional shares for some stocks. We maintain a list of securities available for fractional trading in our fractional shares collection. All of these securities will appear on our “Fractional Collection” page within the Discovery section of the app. Trading restrictions may apply.
Yes—SoFi Active Investing allows users to buy and sell stocks and ETFs of their own choosing! For a more hands off investing approach, you can also select SoFi Automated Investing.
Nope—with SoFi you can get started investing with as little as $5.
See more FAQs
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 2/9/26 and are subject to change without notice. The average of SoFi Personal Loans funded in 2022 was around $30K. Not all applicants qualify for the lowest rate. 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%-6%, which will be deducted from any loan proceeds you receive.
PERSONAL LOAN INTEREST RATES AND FEES | ELIGIBILITY AND IMPORTANT DETAILS. Annual percentage rates (APRs) shown include the 0.25% autopay discount. If approved for a loan, the rates and terms offered will depend on things like creditworthiness, the length of the loan, and other factors, and will fall within the range of rates available by applicable loan term; check out our full APR examples and terms. Remember, not all applicants will qualify for the lowest rate. Want to learn more? See our eligibility criteria at SoFi.com/eligibility-criteria. SoFi reserves the right to change interest rates at any time without notice, changes would only apply to applications begun after the effective date of the change. Fixed Rates: Fixed rates range from % APR to % APR (with autopay). The SoFi 0.25% autopay interest rate reduction requires you to agree to make your scheduled monthly payments by an automatic monthly deduction (ACH) from a savings or checking account. Enrolling in autopay is not required to receive a loan from SoFi. Loan Terms: SoFi Personal Loans offer loans with a period of repayment between 2 and 7-year terms. Loan Fees: SoFi personal loans have no fees; specifically, no origination fees, no late fees, no prepayment penalties.
PERSONAL LOAN | REPAYMENT EXAMPLE. The following example depicts the APR, monthly payment and total payments during the life of a $30,000 personal loan with a 2-year repayment term, a 0.25% autopay discount, and a fixed rate between 7.74% APR to 35.49% APR. It works out to 24 monthly payments ranging from $1,356.68–$1,529.07 for a total amount of payments ranging from $32,560.37–$36,697.76. This repayment example assumes that the borrower is signed up for autopay and that all payments are made on time, with no pre-payments. Actual rates may vary based on repayment term, loan amount, creditworthiness, and other terms and conditions. SoFi does not offer variable rate personal loans. State restrictions may apply.
Jun
05
2023
Subpoena and Legal Requests
How to Serve
Listed below are the acceptable means of legal process service of third-party subpoenas and third-party levies, liens, and garnishments upon SoFi Technologies, Inc. and/or its subsidiaries (collectively, “SoFi”, for the purposes of this web page).
Email Service: SoFi accepts service of legal process via email to [email protected], unless otherwise prohibited by applicable law. Service via email does not expedite internal processing times. Customer inquiries, complaints, or communications sent via email will be processed in accordance with standard company policies and procedures by SoFi’s customer service team. Please note: Under California law, service of legal documents by email is not permitted by default. Email service is allowed only if expressly authorized by the court or if there is a prior written agreement between the parties.
Corporation Service Company: SoFi accepts service of legal process via its registered agent, Corporation Service Company (CSC). Information about state-specific CSC addresses can be found on the relevant state’s Secretary of State website.
Mail/Courier: SoFi accepts service of legal process via the United States Postal Service, or any other nationally-recognized courier (e.g. FedEx, UPS, etc.). Physical mailing addresses can be found at https://www.sofi.com/contact-us/. Please check applicable state/local law before serving process by email.
Service of Legal Process on SoFi Technologies and its subsidiaries
To avoid delays, it is the party’s responsibility to ensure the correct legal entity is named in the legal documents based on the product or service involved. Processing may be delayed or rejected if a legal process is not served on a correct or valid legal entity. Below is a current table of SoFi Technologies, Inc. subsidiaries and the associated products/services.
| Legal Entity | Product(s) Offered |
|---|---|
| Social Finance, LLC | All products |
| SoFi Technologies, Inc. | All products |
| SoFi Bank, N.A. |
|
| SoFi Lending Corp. |
|
| SoFi Securities LLC |
|
| SoFi Wealth LLC |
|
| Social Finance, LLC, SoFi Bank, N.A. or Galileo Financial Technologies, LLC |
|
NOTICE: The term “SoFi” is not a valid legal entity. “SoFi” is a brand and does not issue or offer any products or services. Therefore, service directed to “SoFi” will not be accepted. You must name one of the legal entities set forth in the table above.
Any legal service directed to or naming “SoFi” will be returned as invalid.
Service of Complaints Naming or Against SoFi
Service of legal complaints naming or against SoFi Technologies, Inc. and/or its subsidiaries will not be accepted via email. Such complaints must be served in accordance with applicable state law(s).
Furthermore, the forwarding of complaints regarding a SoFi service or product will not expedite the resolution of any complaint, nor will it guarantee a favorable outcome. Customer complaints directed to [email protected] will be forwarded to the appropriate complaints department(s) within SoFi and handled in accordance with internal policies and procedures.
Processing time
SoFi Technologies, Inc. and/or its subsidiaries will make best efforts to respond to legal process by the requested deadline. Please note, however, that due to the volume of legal process received, fulfillment may take up to sixty (60) days from receipt. Processing delays may be caused by improper service, incorrect entity served, insufficient or unclear requests, extensive or onerous information requests, and/or mail delays.
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