Great question! When your employer or payer runs payroll, they submit files to the Federal Reserve. Every business day, the Federal Reserve sends that information to SoFi to let us know how much to deposit into your account (and when).
Instead of waiting until the usual payday, SoFi Checking & Savings makes the money available as soon as we receive the notification from the Federal Reserve (which is often up to 2 days early, but may vary).
Can I opt out of early paycheck?
Unfortunately, we do not have an opt out available. We made this feature available so that our members could pay bills sooner, invest earlier and pay down their loans faster. You can always choose to leave the money in your account until your standard payday.
Will I receive my paystub early, too?
No, SoFi does not have control over the delivery / timing of your pay stubs. Even if you receive your paycheck early, you will receive your pay stubs from your payroll provider on their platform and schedule.