How does it work?
Through Insured Deposit Program, we seamlessly distribute your balances in accounts across our network to ensure maximum FDIC Insurance. You’ll always have access to your cash directly through the SoFi app, without having to manually open new accounts or track them across multiple apps.
How do I opt-in?
Current banking members can enroll by the email you received to opt into the program or log in to the SoFi app where you will see a card in your banking tab that you can click to enroll. You will receive a confirmation email within 48 hours indicating that you have been enrolled.
New members must first sign up for a SoFi Checking and Savings account at sofi.com/banking.
How do I opt out?
If you have already opted-in to the SoFi Insured Deposit Program and would now like to opt out please contact us.
Learn more information about our SoFi Insured Deposit Program and read our FAQ here:
If you are looking for FDIC insurance information for your SoFi Money or Samsung by SoFi account please review
SoFI Money - Are my deposits insured?
Samsung by SoFi - Are my deposits insured?