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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 9/23/26. 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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  1. Help Center
  2. Chevron RightTransfers & Zelle®
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How do I link or unlink an external bank account?

3 months ago · Updated

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  • Linking an external bank account to SoFi Money: (Plaid) 

    1. Log in to your SoFi Money account
    2. Click the “Transfer” icon
    3. Select ‘Transfer money’ and then ‘Add account’
    4. Note: SoFi uses Plaid, a 3rd party servicer to verify and connect external bank accounts, you will need to agree to giving SoFi permission to obtain the information through Plaid.
    5. Select or search for the institution you’d like to connect. 
      Note: Not all financial institutions can be located using Plaid.
    6. Enter your online banking credentials associated with your external account.
      Note: You may be prompted to leave SoFi’s app to do this. Don’t worry!  You’ll be back soon. 
    7. Once the account has been successfully connected, you can fund your SoFi Money account. 
      Note: You will not need to do this every time. Once the account is linked, it will stay linked until you disconnect it. 



     

    Unlinking a connected bank account: 

    1. Log in to your SoFi Money account
    2. Select “Transfer money” from the options presented.
    3. On the transfer page, click on the account name written in blue. 
    4. You’ll see a list of your accounts, select “Manage Accounts” at the bottom of the page. 

    Finally, choose the account you’d like to disconnect and click the trash can icon.

     

    Linking an external account to SoFi Money: (Manual) 

     

    Note: If you are unable to locate and link your account using Plaid, you may be presented with an option to connect manually. If the manual option does not appear, you can fund your account by other methods and check back at a later time to see if your bank has been added. 

    1. Select “Add account manually” 
    2. Complete the listed information required to link an external account.
    3. Once all fields are completed, click “Connect”.

    Note: Your external account may require additional verification before it can link to SoFi Money. Please refer to our Micro-deposits article.