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2750 East Cottonwood Parkway #300
Cottonwood Heights, Utah 84121

Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 5/28/26. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet.


Eligible Direct Deposit means a recurring deposit of regular income to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government benefit payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Eligible Direct Deposit”) via the Automated Clearing House (“ACH”) Network every 31 calendar days.


Although we do our best to recognize all Eligible Direct Deposits, a small number of employers, payroll providers, benefits providers, or government agencies do not designate payments as direct deposit. To ensure you're earning the APY for account holders with Eligible Direct Deposit, we encourage you to check your APY Details page the day after your Eligible Direct Deposit posts to your SoFi account. If your APY is not showing as the APY for account holders with Eligible Direct Deposit, contact us at 855-456-7634 with the details of your Eligible Direct Deposit. As long as SoFi Bank can validate those details, you will start earning the APY for account holders with Eligible Direct Deposit from the date you contact SoFi for the next 31 calendar days. You will also be eligible for the APY for account holders with Eligible Direct Deposit on future Eligible Direct Deposits, as long as SoFi Bank can validate them.


Deposits that are not from an employer, payroll, or benefits provider or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, Wise, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, or are non-recurring in nature (e.g., IRS tax refunds), do not constitute Eligible Direct Deposit activity. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. SoFi Bank shall, in its sole discretion, assess each account holder's Eligible Direct Deposit activity to determine the applicability of rates and may request additional documentation for verification of eligibility. See additional details at https://www.sofi.com/legal/banking-rate-sheet.


SoFi Bank, N.A. NMLS #696891, Member FDIC

SoFi Lending Corp. NMLS #1121636

234 1st Street, San Francisco, CA 94105

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Do you offer joint accounts with SoFi Checking and Savings?

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  • Do you offer joint accounts with SoFi Checking and Savings?Chevron Right
  • How Do I apply for SoFi Checking and Savings as a Secondary User?Chevron Right
  • How old do I have to be to open SoFi Checking and Savings accounts or be a joint account holder?Chevron Right

Yes, we offer joint accounts with SoFi Checking and Savings! You have two options to get started:

 

To add someone to your existing individual account:

  1. Click into your Checking account
  2. Select the Gear icon
  3. Select Add a joint account owner
  4. Enter the first name, and email address, and select the relationship of the potential joint account holder.
  5. An email invitation will be sent to the secondary individual. Please note the invitation will expire after 30 days.
  6. You may also resend or cancel the invitation once it has been sent by following steps 1-2.

 

To open a brand new joint account:

  1. Select the Gear icon from your SoFi Checking and Savings Homepage
  2. Select Open a new account
  3. Then select Joint account
  4. Enter the first name, and email address, and select the relationship of the potential joint account holder.
  5. An email invitation will be sent to the secondary individual. Please note the invitation will expire after 30 days.
  6. You may also resend or cancel the invitation once it has been sent by following steps 1-2.

NOTE: The option to merge accounts does not exist at this time.

Additionally, any secondary individual must meet the eligibility requirements outlined here in this helpful article:

How old do I have to be to open SoFi Checking and Savings accounts or be a joint account holder?



Additional Articles:

How do I apply for a SoFi Checking and Savings Account as a Secondary User?