SoFi: Bank, Invest & Loans

Social Finance, LLC

About this app

Send money instantly, deposit checks digitally, pay bills online, track spending with budget tools, save cash in high-yield accounts, and trade stocks with no commission (other fees apply).

Why do 12.6M members love SoFi?

NEW! SOFI SMART CARD
• Game-changing charge card secured by SoFi Checking and Savings to simplify your payments.
• Purchases are automatically set aside from your balance in real time, then you pay in full once a month with optional autopay.
• Help avoid overspending because your Smart Card limit equals your SoFi Checking and Savings balance. On-time payments could help grow your credit score with no revolving debt.

MOBILE BANKING & CHECKING ACCOUNT
• Checking account with no account fees and no minimum balance.
• Direct deposit gets you paid up to 2 days early² with instant access to your funds.
• Send money, pay bills online, transfer funds between accounts with no extra charges.

STOCK TRADING & INVESTING
• Trade stocks and ETFs with no commission through SoFi Securities (other fees apply).
• Invest in fractional shares starting at just $5 to build your stock portfolio (restrictions apply).
• Automated investing with digital portfolio management from SoFi Wealth.

HIGH-YIELD SAVINGS ACCOUNT
• Earn high APY¹ on savings balances.
• Savings Vaults help organize emergency funds and savings goals in one place.
• Instant transfers between checking and savings with no fees anytime.

BUDGET TOOLS & MONEY MANAGEMENT
• Budget tracker with automatic spending categorization across all linked accounts.
• Real-time spending alerts protect accounts and help maintain budget goals.
• Bill payment reminders keep you on track and avoid late fees.

²Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.

We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at sofi.com/legal/banking-fees/.

9x based on FDIC monthly savings account rate as of October 20, 2025.

Ratings and reviews

really happy with this app/bank. had a bank before sofi ( I will not mention their names) but my account was hacked 3 times!! I finally got fed up with them and switched. I'm so glad I did. the app is easy to use, and you also earn points, which you can redeem for cash, or pay off your credit card/student loans. I'd give them 6 Stars if it would let me.

Not a bad banking app. Not as user friendly as I would like it to be. It's confusing to navigate the app at first. The biggest headache is the security features. Just started using it. Went out shopping and paying bills. The card kept declining every time I tried to use it. Had about $1,500 on it. Had to call CS every time before swiping, and have them on the line while swiping the card to be sure it went through. It was a nightmare!! They told me it was not them but MasterCard.

Everything I need is bundled into one convenient app. From investments, credit cards, banking, to credit scores and advice on how to improve. The app does have some issues with returning your searches when looking for specific bank transactions. For example, I wanted to see all my renters' deposits, but it couldn't find them. But if that's the only issue I have come across and I'm sure they will fix it after reading this. I am completely satisfied with the SoFi app.

What’s new

We've made a bunch of bug fixes and improvements to help get your money right. It all adds up. Something else you'd like to see? Tell us more at [e-mail].