SoFi · U.S. checking accounts
SoFi Checking and Savings
Online checking and savings for eligible U.S. residents, including non-permanent residents, with an SSN or ITIN. No monthly maintenance fee; higher savings rates require qualifying activity or membership.
Pros & Cons
Pros
- No monthly maintenance or minimum balance fee.
- Eligible applicants can use an SSN or ITIN.
- No SoFi fee at Allpoint ATMs.
- Earns 0.50% APY on checking balances; savings earns 3.30% APY with eligible direct deposit or $5,000 in deposits every 31 days (0.80% APY otherwise). Variable rates, current as of Oct 20, 2026. New members can boost savings APY to 4.40% for up to six months with eligible direct deposit (limited-time offer through Dec 31, 2027).
- Earn a $50 bonus with $1,000-$4,999.99 in eligible direct deposits, or $400 with $5,000 or more, received within 25 days of your first eligible direct deposit. For members who have never set up direct deposit with SoFi; one bonus per member; promotion runs through Dec 31, 2027.
Cons
- U.S. physical address and an SSN or ITIN are required; identity checks apply.
- Standard outgoing domestic wires cost $30; outgoing instant transfers cost 0.75%, with a $1 minimum and $30 maximum.
- Participating cash-deposit partners may charge up to $4.95.
- Higher savings rates and overdraft coverage have separate qualifying requirements.
Generated from the provider's published terms and reviewed against official sources.
Costs and key facts
| Recurring fee | 0 USD |
| Minimum opening deposit | Not confirmed |
| SSN requirement | Conditional |
| ITIN accepted | Accepted |
| Credit check | Soft |
Fee waiver: No monthly maintenance fee.
Eligibility and application requirements
U.S. address: Required
Residency and other conditions: Applicants must be 18 or older and provide a physical address in the 50 U.S. states, Washington, D.C. or supported U.S. military states, an SSN or ITIN, date of birth and contact information. SoFi lists U.S. citizens, permanent residents and non-permanent residents as citizenship-status options. Identity verification and additional documents may be required.
Geographic restrictions: Available in all 50 states and Washington, D.C.; eligible military addresses accepted
Product review: 01 Nov 2026. Source retrieval dates below are separate from editorial verification. An accepted ITIN does not establish residency eligibility.
Compare u.s. checking accounts requirements and costs · How we assess published requirements
Service fees
| Overdraft / returned item | 0 (currency not confirmed) |
| Outgoing domestic wire | 30 (currency not confirmed) |
| Incoming wire | 0 (currency not confirmed) |
| Outgoing instant transfer | 0.75% (min 1, max 30) |
| Incoming instant transfer | 0 (currency not confirmed) |
| Global remittance | 0.5% · Standard SoFi fee is 0.50%; eligible SoFi Plus discounts may apply. Third-party or recipient-bank charges can reduce the amount received. Review the transfer quote. |
| Allpoint ATM | 0 (currency not confirmed) |
| Other ATMs | SoFi does not charge for non-Allpoint transactions; the ATM operator may charge. |
| Cash deposit | SoFi charges no cash-deposit fee, but participating partners may charge up to $4.95 per deposit. |
Evidence and official terms
- OfficialPage — retrieved · View source
This information is educational and does not guarantee eligibility or approval. The provider makes the final decision.