SoFiSoFi Checking
APY
0.50%
Min. to Open
None required
Monthly Fee
No monthly fee
Welcome Bonus
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SoFi Checking
SoFi Checking
No fees; high APY with direct deposit. April 2026.
Our take
Competitive when combined with SoFi savings and member perks.
Highlights
What we like
Competitive for April 2026
FDIC insured (typical for US banks)
The trade-off
Confirm live rate and offer on issuer site
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Full details
Rate & Earnings
| APY | 0.50% |
| APY conditions | With monthly direct deposit; otherwise lower |
Fees & Requirements
| Monthly fee | No monthly fee |
| Minimum to open | None required |
Features
| FDIC insured | FDIC insured |
| Mobile app | Mobile app |
| ATM access | ATM access |
| Check writing | Not available |
Frequently asked questions
What is the current APY on this account?
The current APY is 0.50%. With monthly direct deposit; otherwise lower
Is my money protected?
Yes — this account is FDIC insured up to $250,000 per depositor, per institution. Your money is safe even if the bank fails.
How do I access my money?
ATM withdrawals are available. You can transfer funds electronically to a linked checking account, typically within 1–3 business days.
Are there any hidden fees?
This account has no monthly maintenance fee. Always review the full fee schedule for wire transfer, outgoing transfer, or other service fees.
SoFi Checking