What features do I get with recurring direct deposits?

We’re glad you asked, we love perks too!

All members will receive access to the following features when you set up eligible direct deposit:

High APY: You’ll earn higher APY on the balances of your SoFi Checking and Savings accounts, plus the cumulative total of all Vault balances
Overdraft Protection: Uses money from your SoFi Savings account to cover a transaction if you are running low on funds¹
Early paycheck deposit: This is often up to 2 days early, but may vary)²

Please note: There is no minimum direct deposit amount required to earn the 3.10% APY³ or 2-Day Early Paycheck, however, we do require $1,000 of monthly qualifying direct deposits to unlock No-Fee Overdraft Coverage.

Not sure what the difference is between overdraft protection and overdraft coverage? Visit Overdraft Protection vs. Overdraft Coverage to learn more!

¹ Overdraft Coverage is a feature automatically offered to SoFi Checking and Savings account holders who receive at least $1,000 or more in Eligible Direct Deposits within a rolling 31 calendar day period on a recurring basis. Eligible Direct Deposit is defined on the SoFi Bank Rate Sheet, available at https://www.sofi.com/legal/banking-rate-sheet. Members enrolled in Overdraft Coverage may be covered for up to $50 in negative balances on SoFi Bank debit card purchases only. Overdraft Coverage does not apply to P2P transfers, bill payments, checks, or other non-debit card transactions. Members with a prior history of unpaid negative balances are not eligible for Overdraft Coverage. Eligibility for Overdraft Coverage is determined by SoFi Bank in its sole discretion. Members can check their enrollment status, if eligible, at any time by logging into their account through the SoFi app or on the SoFi website.

² Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.

³ Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 5/28/26. 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