What are SoFi Money vaults?

Question

Answer

How do I open a Vault?

Simply log into your SoFi Money cash management account and click on Learn More next to the Vaults icon to get started.

Next, you'll select Create my first vault and your off and running. 

How do I move money to and from a vault?

From your SoFi Money homepage:

1. Select the Vault in question.
2. Select Transfer 
3. From there you can choose: 
4. 1. A linked account for the source of the funds,
   2. The frequency of the transfer (One-time, or recurring),
   3. And the amount.
4. Click Next
5. And then Transfer Money to complete the transfer.
    

You can also move funds to and from your Vaults by using Autopilot!

From your SoFi Money homepage:
 

1. Select Autopilot.
2. Click Add New or click on an existing Vault to edit the current rules.
3. Then choose the way(s) you want to automate your recurring money moves:
4. 1. Split your Paycheck with Autosave - Create funds transfer rules based on direct deposit.
   2. Recurring Transfers - Set up recurring transfers between linked 3rd party accounts and SoFi accounts.
   3. Roundups - Turn on and manage Roundups

Can I set up a recurring Vault transfer?

Yes, you can definitely set up recurring vault transfers via Your SoFi Money cash management account.

From your SoFi Money homepage:
 

1. Select Autopilot.
2. Click Add New or click on an existing Vault to edit the current rules. 
3. Then choose Recurring Transfers 
4. Select Frequency.
5. Then Monthly on the (day of the month).
6. Next click Select monthly. 
7. To complete enter the dollar amount, a linked account for the source of the funds, And then Transfer Money to complete.

Are funds in my Money Vaults FDIC insured?

Yes! Your available SoFi Money balance is FDIC insured, along with any funds you transfer to one or more Money Vaults.

How many vaults can I have?

You can currently have up to 20 vaults at a time.

How do I close a vault?

1. Sign in to SoFi Money.
2. Click on Vaults.
3. Select the vault you want to close. 
4. From the details page of the vault, click on the Settings icon and click on Close vault.

The money in the closed vault will be immediately moved to your main spending balance and any interest earned on the vault will be reflected as a distinct interest transaction in your spending balance at month’s end.