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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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How do I manually set up direct deposit for SoFi Money? (Direct deposit form)

3 months ago · Updated

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  • While our direct deposit process does not require a direct deposit form, you may prefer to utilize the form for your employment situation. To receive a pre-filled direct deposit form, or download a blank one, follow the directions below ↴

     

    1. Log into your SoFi account

    2. Click on the ‘Money’ tab and click the ‘Gear’ icon

    3. Click ‘Direct deposit’, then select ‘Add new direct deposit’

    4. Choose how much you would like to deposit, then select ‘Download blank form’

    Image from "How do I manually set up direct deposit for SoFi Money? (Direct deposit form)"

    Note:

    Via Web: 

    • Selecting entire paycheck will generate the Direct Deposit form.
    • Selecting certain amount and percentage will include an amount prompt, then Direct Deposit Form will generate

    Via App: 

    • Selecting the entire paycheck will prompt you to enter your employer's name and your signature. Once complete, it will generate the Direct Deposit form
    • Selecting certain amount and percentage will request you to enter the amount, your employer name, and your signature. Once complete it will then generate the Direct Deposit Form.

    5. A pre-filled form with a voided check will open in Acrobat browser, allowing you to enter the needed information and sign.

    Image from "How do I manually set up direct deposit for SoFi Money? (Direct deposit form)" 

     

    6. Email or Save your form then click ‘Done’

     

    You’re all set to submit the form to your employer to process! As an alternative, if your employer has an HR portal that allows you to set up direct deposit by inputting your routing and account number, you can get those here: Account information

     

    Note: The physical address of SoFi Bank, N.A. is:

    2750 E Cottonwood Parkway, Suite 300,

    Cottonwood Heights, UT 84121

     

    If you are having difficulty accessing a blank Direct Deposit Authorization form, you can download one below. You will need to add your account number next to the routing number below the voided check image in order for the form to be valid.