Why do transfers arrive faster from some banks than others?

The time it takes for a transfer to arrive in your SoFi account depends on the payment network your sending bank uses. SoFi is set up to receive instant transfers, but only from banks that have adopted modern, real-time payment technology. This explains why some transfers arrive instantly, while others take the standard 1–3 business days. Transfers arrive instantly when the sending bank and SoFi are both connected to modern real-time payment networks such as FedNow.

Determining Your Bank's Capability

SoFi is ready to receive funds instantly from any bank that uses FedNow. A growing number of major banks and digital platforms have adopted this capability, and the list expands constantly. You can view the most up to date FedNow participants list here

Please note that some banks on the list may not be available to send or receive transfers.

How to check if your bank supports instant transfers:

1. Look for options: When initiating a transfer, look for clearly labeled options like instant, real-time, or same-day.
2. Contact your bank: If the option isn't visible, check their website or call them to ask if they support FedNow transfers to other financial institutions.