activeFeaturedNeobank
- HQ
- San Francisco
- Fee
- Free
SoFi
Public US digital bank with investing, loans, and a debit card.
Rate this app
7.7Solid
AlternativesOur take
Desk verdict
The US answer to ‘is this a real bank?’ is yes. Use SoFi for salary + savings + brokerage. Keep Wise for cross-border.
Social Finance began as a student-loan refinancer and became SoFi Bank, N.A., a nationally chartered bank, plus a broker-dealer. That split matters: deposits live at the bank; stocks live at the broker. It is the cleanest large US ‘neobank’ on licence.
SoFi lists National bank charter (SoFi Bank, N.A.) under OCC in United States. On safeguarding we currently write: FDIC up to $250,000 at SoFi Bank, N.A. (plus additional via programme banks on some products). Holder / issuer line: SoFi Bank, N.A.. An AML programme is claimed. There is no IBAN-class local rail on the flags we store. We list 1 live markets on the product. As we score the sticker: monthly Free Checking & Savings; FX International ATM/spend fees apply; ATM Fee-free at Allpoint; reimbursements on some tiers; interest High APY on Savings with direct deposit. This desk would open it for: US customers who want a chartered digital bank plus a brokerage in one login.
What it does well: Actual national bank charter; APY on savings is the acquisition hook that still works; Investing and banking in one app. What to watch: Direct-deposit requirements on the headline APY; US-only; Product sprawl can feel like a mall. Desk score 7.7 / 10 (safety 8.8, fees 8.4, features 8.6, app 8.4). Last verified 2026-08-01. Headquartered in San Francisco, United States; founded 2011. None of this is advice — it is a file so you can read the entity before the card colour.
Best for: US customers who want a chartered digital bank plus a brokerage in one login.
Pros
- +Actual national bank charter
- +APY on savings is the acquisition hook that still works
- +Investing and banking in one app
- +Public company — reporting discipline
Cons
- −Direct-deposit requirements on the headline APY
- −US-only
- −Product sprawl can feel like a mall
- −International money movement is not Wise
Account facts
- Platforms
- Web · iOS · Android
- Account types
- Checking · Savings · Invest · Loan
- Partner bank
- SoFi Bank, N.A.
- Minimum balance
- $0
- Lowest monthly fee
- $0
- Who can open
- US consumers
- Availability
- United States
How it actually works
- Custody
- Insured bank deposit
- Local rails
- ACH / USD
- Built for
- Personal · Investing
- Settlement
- App-ledger instant; bank rails per corridor
- Review risk
- Bank-grade; still not freeze-proof
- Pay surface
- mastercard · physical · virtual · Apple Pay · Google Pay
Safety
FDIC up to $250,000 at SoFi Bank, N.A. (plus additional via programme banks on some products)
Holder / issuer: SoFi Bank, N.A.
- OCCNational bank charter (SoFi Bank, N.A.) · United States
- SEC / FINRABroker-dealer (SoFi Securities) · United States
Fees
- Monthly
- Free Checking & Savings
- FX markup
- International ATM/spend fees apply
- ATM
- Fee-free at Allpoint; reimbursements on some tiers
- Interest
- High APY on Savings with direct deposit
Features
- –IBAN
- ✓Fee-free core
- –Multi-currency
- ✓Apple Pay
- ✓Google Pay
- ✓Virtual card
- ✓Physical card
- –Metal card
- –Crypto
- ✓Stocks
- –Business
- –Kids
- –Halal
- SoFi Bank checking and savings
- Stock and ETF investing
- Student loan refinance origin story
- Credit card, mortgages, personal loans
- Vaults and roundups
Score
- Safety25%
- 8.8
- Fees20%
- 8.4
- Features15%
- 8.6
- App15%
- 8.4
- Global15%
- 3.6
- Support10%
- 7.4
Change log
Full logLicence
SoFi Bank, N.A. — national bank charter
This is the rare US consumer brand that became a bank. FDIC through SoFi Bank, not a fintech footnote.
Licence
SoFi Bank, N.A. — national bank charter
This is the rare US consumer brand that became a bank. FDIC through SoFi Bank, not a fintech footnote.
Available in
FAQ
Is SoFi a bank?+–
SoFi holds a banking-style licence (OCC). Still read the legal entity on the statement, not the app icon.
How is money protected?+–
FDIC up to $250,000 at SoFi Bank, N.A. (plus additional via programme banks on some products)
Where is SoFi available?+–
We list 1 market desk on the desk. Residency and onboarding rules still sit with SoFi.
Card and wallets?+–
mastercard · physical · virtual · Apple Pay · Google Pay
Ratings and reviews
4.0 / 5 from 1 published review on this desk.
Priya N.
United States· 2026-08-27Verified userThe bank charter is why I moved salary. Investing is a separate decision.
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