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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 transfer money from my SoFi Bank account to another account

8 hours ago · Updated

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    • What is a bank transfer?


    A bank transfer is a transaction that moves money from one bank account to another. Bank transfers offer convenience since you don’t have to withdraw cash to move funds.

    What’s the difference between an internal and external transfer?

    • Internal transfer: Move money between accounts at the same institution (e.g., SoFi Checking → SoFi Savings).
    • External transfer: Move money from your SoFi account to an account at another financial institution.

    Mobile: How to make a transfer

    We’ve made it convenient to start a transfer right from your home screen.

    1. Tap the Fast Action menu button (three lines/dots) and select Transfer money.
    2. Select where you want to transfer the money (choose the From and To accounts).
    3. Enter the amount.
    4. (Optional) Select Change timing:
      • One-time transfer: Move a set amount once.
      • Recurring transfer: Move a set amount on a schedule.
    6. Confirm the information entered is correct, then click Next.
    7. If the transfer is eligible for instant settlement via the FedNow® Service, you’ll see the Instant Transfer option.
    8. Review and complete the transfer by clicking Transfer money.

    Note: Transfers between SoFi Checking, Savings, and Vaults are available instantly.

     

    Web: How to make a transfer

    For faster access, you can start a transfer right from the top right of your home screen.

    1. From the home screen, select Transfer money at the top right.
    2. Select where you want to transfer the money (choose the From and To accounts).
    3. Enter the amount.
    4. (Optional) Select Change timing:
      • One-time transfer: Move a set amount once.
      • Recurring transfer: Move a set amount on a schedule.
    6. Confirm the information entered is correct, then click Next.
    7. If the transfer is eligible for instant settlement via the FedNow® Service, you’ll see the Instant Transfer option.

    Review and complete the transfer by clicking Transfer money.