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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 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.


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234 1st Street, San Francisco, CA 94105

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How to close a SoFi Invest account

19 hours ago · Updated

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  • How to close a SoFi Invest account

In order to close your SoFi Invest account:

  1. Verify you have no existing securities positions:
    • Review the “Investments” section to confirm
      Image from "How to close a SoFi Invest account"
    • If you have any holdings in your account, you must transfer them to another firm or liquidate them and withdraw the proceeds
      • For more information on how to complete an ACAT, refer to How do I transfer assets out of my SoFi Invest account as an ACAT?
      • For more information on how to liquidate your holdings, refer to How do I buy and sell a stock on the SoFi app?
  3. Verify that your balance is $0
    • View your cash figures in the Buying Power section
      Image from "How to close a SoFi Invest account"
    • If any funds remain in your account, you must withdraw them to a linked bank account
      • For more information on how to withdraw funds from your SoFi Invest account, refer to How do I withdraw cash from my SoFi Self-Directed account? 
      • Note: This may take 2-3 business days to complete
    • If you have a negative balance, it must be rectified before proceeding
      • For more information on how to deposit funds into your SoFi Invest account, refer to How do I transfer money from my SoFi Money account to my SoFi Invest account?
  5. Verify that you have no recurring deposits or purchases
    • Review the “Scheduled” tab in the Recent Activity section to confirm
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    • Image from "How to close a SoFi Invest account"
  • If you have any recurring deposits or purchases in your SoFi Invest account, cancel them
    • For more information on how to cancel your recurring deposit/purchase, refer to How can I edit my Recurring Investment?
  • Submit the account closure
    • Click on the gear wheel "Manage" icon in the top right corner of the screen of your Invest account
      Image from "How to close a SoFi Invest account"
    • Select "Close Account" to continue closing your account
      Image from "How to close a SoFi Invest account"

    • Note: If there is a negative balance, you will need to bring the balance up to $0 before the account can be closed. If you have concerns about your negative balance or need assistance, please reach out to our Invest team at (855) 456-7634

     

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