SoFi takes your security very seriously. Upon depositing funds into your SoFi checking and, or savings accounts (including vaults), the balance is FDIC insured up to $250,000 per account holder across all deposit accounts. Joint accounts will be insured up to $500,000. Additional coverage of up to $2 million may be available through the SoFi Insured Deposit Program.
For additional details on FDIC Insurance, please see http://www.fdic.gov. You can also learn more about the SoFi Insured Deposit Program in the Terms & Conditions.