Investment Products:
ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE
Rule 606 Order Routing
Statement of Financial Condition
This is not an offer, or solicitation of any offer to buy or sell any security, investment or other product. Investing in securities involves risks, and there is always the potential of losing money when you invest in securities. Past performance, historical returns, future projections, and statistical forecasts are no guarantee of future returns or future performance.
SoFi Checking and Savings is offered through through SoFi Bank, N.A.
SoFi Relay and advisory services are offered through SoFi Wealth LLC, an SEC-registered investment advisor. Information about SoFi Wealth’s advisory operations, services, and fees is set forth in SoFi Wealth’s current Form ADV Part 2 (Brochure), a copy of which is available upon request and at www.adviserinfo.sec.gov/. For additional information on SoFi Wealth LLC, SoFi Relay, and products and services of affiliates, see SoFi.com/legal.
The umbrella term “SoFi Invest” refers to the two investment and trading platforms operated by Social Finance, Inc. and its affiliates (described below). Individual customer accounts may be subject to the terms applicable to one or more of the platforms below.
1) Automated Investing—The Automated Investing platform is owned by SoFi Wealth LLC, an SEC Registered Investment Advisor (“Sofi Wealth“). Brokerage services are provided to SoFi Wealth LLC by SoFi Securities LLC, an affiliated SEC registered broker dealer and member FINRA/SIPC, (“Sofi Securities).
2) Active Investing—The Active Investing platform is owned by SoFi Securities LLC. Clearing and custody of all securities are provided by APEX Clearing Corporation.
Neither the Investment Advisor Representatives of SoFi Wealth, nor the Registered Representatives of SoFi Securities are compensated for the sale of any product or service sold through any SoFi Invest platform. Information related to lending products contained herein should not be construed as an offer to sell, a solicitation to buy or a pre-qualification of any loan product offered by SoFi Lending Corp and/or its affiliates.
“SoFi Invest” is the brand name for brokerage products and services offered through SoFi Securities LLC (SFS) Member FINRA/SIPC including SoFi Checking and Savings®, advisory services offered through SoFi Wealth LLC (SFW) an SEC Registered Investment Adviser, and cryptocurrency services offered through SoFi Digital Assets, LLC (SDA). SFS, SFW, and SDA are affiliated companies under the common control of Social Finance, Inc. (SoFi). SoFi Securities LLC is an affiliate of SoFi Bank, N.A.
Borrowing: Terms,conditions, and state restrictions apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. To qualify for a loan, a borrower must be a U.S. citizen or permanent resident and meet SoFi’s underwriting requirements; see SoFi.com/eligibility-criteria for details. SoFi loans are originated by SoFi Lending Corp., or an affiliate (dba SoFi), licensed by the Department of Business Oversight under the California Financing Law License #6054612. NMLS #1121636 <(www.nmlsconsumeraccess.org).
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FAQs
SoFi Bank Checking Account Overview
The main drawback is that it doesn't reimburse ATM fees for using out-of-network ATMs. No fees or minimums: You can open an account with no minimum deposit, and SoFi doesn't charge monthly maintenance fees, regardless of your balance.
Is SoFi a Chinese company? ›
(commonly known as SoFi) is an American online personal finance company and online bank. Based in San Francisco, SoFi provides financial products including student loan refinancing, mortgages, personal loans, credit card, investing, and banking through both mobile app and desktop interfaces.
Is SoFi investing worth it? ›
While SoFi Automated Investing lacks customization and tax-loss harvesting, it makes up for these shortfalls by taking a low- to no-cost approach that earned it our top choice as the best robo-advisor for low costs in 2024.
What is SoFi and is it legit? ›
SoFi is an online lender that offers personal loans, student loans, home loans, credit cards and debit cards, among other products and services. SoFi personal loans are good for people with above-average credit scores who seek large loan amounts and low interest rates.
Is SoFi bank safe from collapse? ›
Yes, funds deposited into SoFi checking and savings accounts are FDIC insured for up to $250,000 per depositor, for each ownership category, in the event of a bank failure.
Can I trust SoFi with my money? ›
FDIC insured: Your deposits are secure with the Sofi Checking and Savings account. Deposits are FDIC insured for up to $250,000 per individual — $500,000 for joint accounts — and you can add FDIC insurance up to $2 million.
Who is SoFi owned by? ›
The ownership structure of SoFi Technologies (SOFI) stock is a mix of institutional, retail and individual investors. Approximately 33.03% of the company's stock is owned by Institutional Investors, 26.86% is owned by Insiders and 40.11% is owned by Public Companies and Individual Investors.
Who are the top 10 owners of SoFi? ›
Largest shareholders include Vanguard Group Inc, BlackRock Inc., Silver Lake Group, L.L.C., VTSMX - Vanguard Total Stock Market Index Fund Investor Shares, NAESX - Vanguard Small-Cap Index Fund Investor Shares, ARK Investment Management LLC, State Street Corp, Geode Capital Management, Llc, Two Sigma Investments, Lp, ...
Who is the largest shareholder of SoFi? ›
The Vanguard Group, Inc. is currently the company's largest shareholder with 7.7% of shares outstanding. With 4.3% and 3.8% of the shares outstanding respectively, SoftBank Group Corp. and BlackRock, Inc. are the second and third largest shareholders.
Is SoFi financially stable? ›
While SoFi boasts impressive revenue growth, achieving true profitability has remained elusive. Although its 2023 performance produced a net loss of $301 million, it is still an improvement over 2022's $320 million and 2021's $484 million. And if this improvement persists, SoFi will turn over some profits eventually.
There are a few major differences however, such as the wider variety of financial products available through SoFi's app, as well as the availability of more investment account types through SoFi Invest. In a nutshell, Robinhood is mainly designed for traders, while SoFi Invest's focus is on long-term investing.
What is the future of SoFi? ›
SOFI Stock 12 Month Forecast
Based on 16 Wall Street analysts offering 12 month price targets for SoFi Technologies in the last 3 months. The average price target is $8.91 with a high forecast of $14.00 and a low forecast of $3.00. The average price target represents a 22.05% change from the last price of $7.30.
Is SoFi backed by a bank? ›
SoFi is now a nationally chartered bank that offers SoFi Checking and Savings. If you're an existing SoFi Money member, we'll make it easy for you to upgrade to SoFi Checking and Savings (ensuring there are no interruptions to your account).
Is SoFi safe and insured? ›
SoFi Checking and Savings is a mobile-first online bank account that keeps your hard-earned dollars safe; all accounts receive FDIC insurance of up to $250,000 per member.
Why did SoFi decline my loan? ›
At SoFi we look at a multitude of factors when evaluating your eligibility such as your credit profile, and your income. We also look at other factors such as your repayment history with us, if you've been delinquent or made late payments in the past that can impact your eligibility for future Personal Loans.
Does SoFi have a good reputation? ›
SoFi has an A+ rating with the Better Business Bureau, but it is not BBB-accredited. In 2021, the Consumer Financial Protection Bureau received 14 personal-loan-related complaints about SoFi. The most common issues were related to getting a loan.
Why can't I withdraw money from SoFi? ›
Any new deposit made into a SoFi Invest account is placed on a five-business-day hold. The sixth business day is when your funds are available to be withdrawn.
What does SoFi do with my money? ›
SoFi Money allows you to securely deposit money, earn high interest, and spend money through bill pay, P2P transfers, and checks. The funds in your SoFi Money account are subject to FDIC coverage once they are deposited at one of our partner banks.
Is there a monthly fee for SoFi? ›
SoFi Checking and Savings charges you no account fees.
With that in mind, our fee structure is subject to change at any time. See our terms and conditions.
