Everything you need to know about Pay-a-Friend (P2P) with SoFi!

• Pay-a-Friend (P2P)(or P2P payments) let you send money directly to another person.
• At this time, our Pay-a-Friend (P2P) feature is only offered with SoFi Money and SoFi Checking accounts.
• You cannot send money to yourself or your joint account holder.
• You can send money to anyone with a US-based bank account, SoFi member or not, using our no-cost Pay-a-Friend (P2P) feature.

Simply log into your SoFi Checking account and follow the steps below ↴

1. From your Sofi Checking account homepage, click 'Pay'
2. Select 'Pay a Friend'
3. Enter the amount you would like to send to the recipient (Minimum amount is $1.00)
4. Click ‘Add contact’ to enter your recipient's details or select a contact from your phone
5. Select the payment frequency (“One-time, today” to “Monthly on the 1st”)
   • Note: You will be able to change the day of the month you’d like the transfer to send.
6. Adding a note for the payment is an optional feature
7. Review the information, and slide to confirm the payment

For existing SoFi Members

The funds should arrive instantly. 

For non-SoFi Members

1. The recipient of the funds will receive a notification via email & text from the SoFi member
2. Access the email (or text) and then choose “Claim Money Now”
3. The recipient will fill out the following information:
   1. First Name
   2. Last Name
   3. 5 digit zip code
   4. Routing #
   5. Account #
4. Select 'Continue'
5. A message will display confirming completion and time frame for funds availability

Note: Pay-a-Friend (P2P) payments claimed to an external bank account it will take 2-3 business days to post to their account, once accepted. If they do not accept the funds within 5 days, the funds will be returned to your account. 

Only ‘pending’  or ‘unclaimed’ payments can be canceled. 

Pay-a-Friend (P2P) payments are just like any other private transaction between two people. We recommend only sending and receiving money with people you know.  If you have questions or concerns about a transaction, please contact us.

If sent to a SoFi Member:

Since SoFi members receive funds instantly from other members, there isn’t a way to cancel the payment. Try asking the recipient to send the money back to you instead.

If sent to a non-SoFi Member:

1. Log in to your SoFi app or the web
2. Select the Banking tab
3. View your Pending Transactions
4. Click on the pending Pay-a-Friend (P2P) transaction and select ‘Cancel’
5. Review and confirm your cancellation - you are all set!

Note: To cancel the same day, you must cancel before 5:30 pm EST; otherwise, the cancellation will go through the next day.