Skip Navigation
Log InGet Started

Legal

  • Terms of Use
  • Disclaimers
  • Licenses
  • NMLS Access
  • Eligibility Criteria
  • Accessibility
  • Business Continuity

Company

  • About Us
  • How it Works
  • Reviews
  • Press
  • Our Values
  • Jobs
  • Blog

Find us

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 10/20/26. 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

©2026 Social Finance, Inc. All rights reserved.

Norton Secured, powered by VeriSignTLS 1.2 Encrypted
Equal Housing Lender
  1. Help Center
  2. Chevron RightSearch
Search

How did my Market on Open Order cause a negative buying power?

3 hours ago · Updated

  • What tax documents will be prepared for my SoFi Invest account?Chevron Right
  • How did my Market on Open Order cause a negative buying power?Chevron Right
  • Shareholder Meeting/ Proxy VoteChevron Right
Can I start or stop dividend reinvestment (DRIP) at any time? / How do I enable or disable the dividend reinvestment (DRIP) option within my account?Chevron Right
  • How can I set up a Recurring Investment?Chevron Right
  • How to sell a Fractional Share (Stock Bit)?Chevron Right
  • How do I open a Self-Directed invest account?Chevron Right
  • How do I close my SoFi Checking and Savings accounts?Chevron Right
  • How do I manually set up direct deposit for SoFi Money? (Direct deposit form)Chevron Right
  • How do I set up Pay in 4?Chevron Right
  • What is spending reserve?Chevron Right
  • How do I find my routing and account numbers for SoFi Money?Chevron Right
  • How do I dispute a charge for my SoFi Debit Card? Can I submit a dispute online? (MasterCard)Chevron Right
  • What if I enter the wrong payment handle or send money to the wrong person? (International recipient)Chevron Right
  • What happens if an international payment is delayed or fails?Chevron Right
  • Tips to help you avoid scams:Chevron Right
  • What tax documents will be prepared for my SoFi Checking and Savings accounts?Chevron Right
  • I earned interest with SoFi Checking and Savings. Will I get a 1099-INT tax form?Chevron Right
  • Why doesn’t the amount on my Form 1099-INT match the interest earned in my SoFi checking or savings account?Chevron Right
  • What is Overdraft Coverage?Chevron Right

    • When you place a trade for whole shares when the market is closed, you are creating a Market on Open order that will process the next business day when the market is open. Due to after hours and premarket trading that some firms have available, the value of that stock can fluctuate by the time the market opens and the Market on Open orders are processed. Before the market opens for the day, our system will check the current price of the stock on your buy order. If the value of that stock went up and you do not have enough buying power to make that purchase, our system will cancel the order. Once the market opens the Market on Open orders will start processing in the order they were received.

    You may have enough money in your buying power when the market opens, but due to market fluctuations and the time your order was received for execution, the price of that stock may change as the orders are filled. Your purchase will fill at whatever price that stock is currently trading. If the price of the stock has gone up and you do not have enough buying power, it will overbuy, the order will be filled, and the order will not be canceled.

    If you have a negative buying power due to a Market on Open order overbuying in your account, you will want to make a new deposit or you can sell some of your investments to cover the negative buying power.

     

    Related Articles

    What is a Market Order on Open?