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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.


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 to Send and Receive Wire Transfers with SoFi

4 weeks ago · Updated

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You can now submit outgoing wire transfers for any reason through self-service online. We accept incoming wires from any domestic institution (Note: Initiating bank fees may apply).

 

Processing Time:

Most outgoing wire requests that are sent before 3:30 PM ET on business days are processed the same day. However, these transfers can take up to one business day to process.

 

Steps to Send an Outbound Wire Transfer (Mobile/Web):

  1. Navigate to the Banking Tab:
    • From the main menu, tap the Banking tab to get started.
  3. Choose the transfer option:
    • Once you're in the Banking tab, select Transfer.
  5. Select Wire Transfer:
    • After clicking Transfer, you'll see an option to send a wire transfer. Go ahead and select it.
  7. Complete the Wire Transfer Form:
    • Take your time to fill out all the necessary fields for your wire transfer.  We recommend following any specific wire transfer instructions you may have received.
  9. Verify Your Identification:
    • During the process, you'll be asked to verify your identification. When prompted, allow camera permissions to complete this step smoothly.

Important Notes:

Account Numbers:

When entering account numbers, please use only numeric characters.

Memo Box:

  • The memo box has a 140-character limit and does not accept debit or credit card numbers.
  • If you see the error message: We cannot accept debit card or credit card information for this field for your security, please double-check that no card numbers are entered,

Review and Confirm:

Once you've completed the wire transfer, you can review the details in your transaction history.

No Minimum or Maximum Limits:

  • Here at SoFi, there are no minimum or maximum dollar amounts for sending an outgoing wire, as long as the amount does not exceed your account balance and plus the wire transaction fee ($30).
  • Please note that the receiving institution may have its own limits or fees.

    •  

     

    SoFi’s Inbound Wire Transfer Instructions:

    Receiving Bank Name: SoFi Bank, N.A.

    Receiving Bank ABA#: 031101334

    Beneficiary Account #: SoFi Member Account # starting with 310, 410, or 411.

    Beneficiary Account Name: SoFi Member Name (Note: Exactly as it appears on your SoFi account profile, Example: Steven instead of Steve or Robert instead of Rob/ Bob etc.)

    Beneficiary Address: SoFi Member Address (Note: Exactly as it appears on your SoFi account profile)

    OBI (Optional): Reference and/or Purpose of Wire

    Receiving Bank (SoFi) Address (Optional): 2750 E Cottonwood Pkwy, Suite 300, Cottonwood Heights, UT 84121

    (Note: This is not the beneficiary address. Most banks do not require the receiving bank address.)

     

    Processing Time:

    SoFi receives inbound wire requests from 7:30 AM EST to 5:00 PM EST for all business days (excluding federal holidays).

    International Wires:

    International wires are not accepted.

    Viewing Incoming Wire Transfer Information:

    To view the incoming wire transfer information within the app, follow the steps below:

    1. Log into your SoFi app.
    2. Select the ‘Banking’ tab
    3. Select ‘Transfer’ then ‘Wire Transfer’

    Confirmation:

    Successful inbound wires will be visible in the 'transactions' section of your SoFi Checking & Savings homepage.