Oct. 20, 2025

1 min read

SoFi® Checking & Savings Summary

SoFi processes domestic transfers through SoFi Checking & Savings (SoFi Bank, N.A.). Supported transfer types include external ACH bank transfers, domestic wire transfers, and peer‑to‑peer (P2P) payments via Zelle® and Pay‑a‑Friend. As of this check, international transfers are not yet available; SoFi has publicly announced an in‑app international transfer service targeted later in 2025, with a waitlist open.

Pros

Zelle®/Pay‑a‑Friend has no SoFi fee
$0 fee for incoming domestic wires
Self‑serve outgoing domestic wires in the app/web

Cons

No international transfers yet
$30 fee for outbound domestic wires

SoFi® Checking & Savings at a glance

9.4

Editorial score

Fees?

No transfer fees or transfer fees avoidable as long as you don't do wire transfers

10.0

Transfer time

Same day transfers with exact timing not specified

9.0

Customer service

Email and online/app chat support; weekday phone support during business hours

9.0

Security

Encrypts data and offers multi-factor authentication, including biometric authentication

9.0

Online and mobile experience

Money transfers available on website; offers mobile app with 3.9/5.0 score on Google Play and 4.8/5.0 score on the App Store

10.0

How It Works

ACH (external bank transfers): Link an external U.S. bank and move money to/from SoFi. Typical clearing is 1–2 business days, sometimes three.
Domestic wires: Initiate self‑serve in app/web. Most requests sent before 3:30 p.m. ET are processed the same business day, and delivery typically occurs within one business day. International wires are not accepted.
P2P: Zelle®: Send/receive with enrolled users; typically minutes to enrolled recipients. Pay‑a‑Friend: Instant to SoFi members; to non‑members, funds post 2–3 business days after claim.

SoFi® Checking & Savings Visit Site

Fees & Rates

Outgoing domestic wire: $30
Incoming wire: $0
Zelle®/P2P (inbound & outbound): $0
ACH bank transfers: $0 (SoFi indicates ACH/P2P have no fees)

Fees can change; always check SoFi’s live fee sheet.

How Long Does It Take?

ACH: 1–2 business days (sometimes three).
Domestic wires: Same‑day processing if sent before 3:30 p.m. ET; generally complete within one business day.
Zelle®: Typically, minutes for enrolled recipients.
Pay‑a‑Friend: Instant to SoFi members; 2–3 business days to non‑members after claim.

Top Highlights

$0 P2P via Zelle®/Pay‑a‑Friend.
$0 incoming domestic wires.
Self‑serve outgoing wires ($30) with no min/max amount (subject to available balance and risk checks).
Announced international transfers slated for later in 2025

Customer Support

Checking & Savings phone support is available Monday through Thursday from 5 a.m. to 7 p.m. PT and Friday through Sunday from 5 a.m. to 5 p.m. PT.
Chat (virtual assistant) available 24/7, with escalation to agents during working hours.

Privacy & Security

FDIC‑insured deposits with SoFi Bank, N.A. (FDIC Cert. #26881).
Two‑factor authentication (2FA), biometric login options, and 24/7 monitoring/fraud support.

Online Experience

Fully digital flows on mobile and web. You can initiate transfers and view status/history in the activity feed. SoFi does not document “real‑time tracking” for ACH or wires.

Bottom Line

For U.S.‑only transfers, SoFi offers a low‑fee, app‑first experience with $0 P2P and $0 incoming wires, predictable ACH timing, and same‑day processing for most outgoing wires sent before the cutoff. If you need international transfers today, use an alternative for now—SoFi has announced an in‑app international service targeted for later in 2025.

AI was used in the creation of this content, along with human validation and proofreading.

Written by

Bestmoney Staff

The BestMoney.com editorial team is composed of writers and experts covering a full range of financial services. Our mission is to simplify the process of selecting the right provider for every need, leveraging our extensive industry knowledge to deliver clear, reliable advice.

SoFi Money Transfer Review