Get Paid Early
Get paid up to two days early.
Set up direct deposit to automatically get your paycheck up to two days early every time you get paid.* Once the money hits your account, you can start paying bills earlier, saving earlier, investing earlier, and more.
What is SoFi early direct deposit and how does it work?
SoFi's early-paycheck program posts ACH transactions when it receives notification of incoming funds from the transferring institution. The money in the account starts earning interest as soon as it's posted. There's no minimum direct deposit amount required to earn interest.
Enjoy the benefits of early access to your paycheck.
Pay bills on time and avoid late fees.
Cover unexpected expenses without stress.
Manage your cash flow more efficiently with earlier access to your funds.
How to get paid early with SoFi.
Sign up for a new Checking and Savings account.
Set up Direct Deposit from your Employer.
Sit back and get paid early.
FAQs
• Paychecks from your employer, payroll provider or benefits provider.
• Government disbursements, such as Social Security, retirement, or unemployment benefits.
• Non-recurring deposits (e.g. IRS tax refunds) are not eligible.
SoFi Checking and Savings is offered through SoFi Bank, N.A. Member FDIC.
* Early access to direct deposit funds is based on the timing in which we receive notice of impending payment, which is typically up to two days before the scheduled payment date.
**†
The following describes the terms that apply to participation in the SoFi Checking and Savings direct deposit promotion (the “Direct Deposit Promotion”) offered by SoFi Bank, N.A, Member FDIC (“SoFi”).
Eligible Participants:
All new and existing members without any history of direct deposit transactions into their SoFi Checking and Savings account are eligible to earn a cash bonus of either $50 OR $300 under the Direct Deposit Promotion. Members who previously enrolled in direct deposit into either SoFi Money or SoFi Checking and Savings, whether currently still enrolled or not, do not qualify for this Direct Deposit Promotion. Bonuses are limited to one per SoFi Checking and Savings account. In the case of a joint account, only the primary account holder (the member who signed up first) is eligible for a bonus. Member must have an open SoFi Checking account in good standing at the time of the bonus payment.
Promotion Period:
The Direct Deposit Promotion will begin on 12/7/2023 at 12:01AM ET and end on 1/31/2026 at 11:59PM ET.
Bonus Terms:
In order to qualify for a bonus of either $50 OR $300, SoFi must recognize receipt of at least one Eligible Direct Deposit (as defined below) from an Eligible Participant, the first of which must be before the end of the Promotion Period. The amount of the bonus, if any, will be calculated during the Direct Deposit Bonus Period as described and defined below.
Eligible Direct Deposit means a recurring deposit of regular income to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government benefit payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Eligible Direct Deposit”) via the Automated Clearing House (“ACH”) Network.
Although we do our best to recognize all Eligible Direct Deposits, a small number of employers, payroll providers, benefits providers, or government agencies do not designate payments as direct deposit. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. After SoFi validates the details of your Eligible Direct Deposit, your Direct Deposit Bonus Period will be treated as having started on the date we receive your first Eligible Direct Deposit.
Deposits that are not from an employer or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, or are non-recurring in nature (e.g. IRS tax refunds), do not constitute Eligible Direct Deposit activity. SoFi Bank shall, in its sole discretion, assess each account holder’s Eligible Direct Deposit activity to determine eligibility and may require additional documentation to complete this verification.
Direct Deposit Bonus Period:
The Direct Deposit Bonus Period begins when SoFi receives an Eligible Direct Deposit of $1 or more within the Promotion Period and ends 25 calendar days later (the “Direct Deposit Bonus Period”), subject to the Bonus Terms. For the avoidance of doubt, the Direct Deposit Bonus Period shall not extend beyond the Promotion Period.
Bonus Amount:
The bonus amount will vary based on the total amount of Direct Deposits received during the Direct Deposit Bonus Period.
| Total Direct Deposit Amount Received During Direct Deposit Bonus Period | Cash Bonus Tier |
|---|---|
| $1.00 - $999.99 | $0 |
| $1,000.00 - $4,999.99 | $50 |
| $5,000.00 or more | $300 |
Once the Direct Deposit Bonus Period has elapsed, SoFi will determine if you have met the offer requirements and will deposit any earned bonus into your checking account within seven (7) business days. For example, if SoFi receives between $1,000.00 and $4,999.99 in Eligible Direct Deposits during the Direct Deposit Bonus Period, you will receive a one-time cash bonus of $50. A member may only qualify for one bonus tier and will not be eligible for future bonus payments if Eligible Direct Deposits subsequently increase after the Direct Deposit Bonus Period.
Bonus Payment Timeline:
SoFi will credit members who meet qualification criteria within seven (7) business days of the end of the Direct Deposit Bonus Period.
Tax Reporting:
Bonuses are considered income and may be reportable on IRS Form 1099-INT or Form 1042-S as applicable.
Other Important Details:
SoFi reserves the right to exclude any members from participating in this Promotion for any reason, such as suspected fraud, misuse, or suspicious activity. Sofi also reserves the right to modify or end the Promotion at any time.
Interest Rates:
SoFi members can earn the following annual percentage yields (APY):
With Eligible Direct Deposit:
•Savings (including Vaults): 3.80% APY.
•Checking: 0.50% APY.
•No minimum Direct Deposit amount is required to earn the 3.80% APY on savings.
Without Eligible Direct Deposit:
•Savings (including Vaults): 1.00% APY.
•Checking: 0.50% APY.
Other Rates Details:
•Rates are variable and are subject to change at any time.
•Rates are current as of 1/24/25.
•No minimum balance is required.
Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.
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