Transfer Money

Move your money
with ease—
not fees.

Whether you’re sending funds to friends and family or moving money between your own accounts, we make it easy to send money online with zero transfer fees.*

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Money transfers made easy

It’s your money. Send and receive it as you please, without the fees.*


Send money to friends and family.

A friend covered the bill? Treating Mom to a spa day? Simplify things by sending them money straight from your checking account.

Transfer money between your accounts.

Put cash into a savings Vault, submit a loan payment, or invest in that stock you’ve been watching, all through the SoFi app.

Make life easier with automatic transfers.

Set up automatic money transfers from your checking account to pay bills, stack your savings, or pay other people.

    How to transfer money with SoFi.

  • Step 1: Open a SoFi Checking and Savings account.

    Provide basic personal information and answer a few simple questions to open an account in minutes.

  • Step 2: Select your transfer type.

    Sending money to a friend? Paying a bill? Just let us know what type of money transfer you need to make and for how much, and we’ll do the rest.

  • Step 3: Set up a frequency.

    Finally, choose how often you want to make your transfer. We have different cadence availability based on the type of transfer you need to make.

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The perks of
sending money with SoFi

Yes, we make it fast and easy to send money online—but there’s more.

Send money with less hassle.

Send money using the recipient's name, phone number, or email address. No bank information required.

Pay no fees.*

No need to worry about account or transfer fees. You don’t have to pay to send money.

Transfer with other members instantly.

Need to pay back a friend who covered your morning coffee? SoFi members can instantly send money to each other.

Transfer money on the go.

Transfer money and manage your finances from anywhere with the SoFi app

A checking account that lets you transfer money—and so much more.

Sending money online is just the tip of the iceberg. When you sign up for SoFi Checking and Savings, you’ll receive up to a $300 cash checking bonus when you set up direct deposit.

SoFi account holders can also get their paychecks up to two days early^ with no account fees.* The best part? You can earn up to 4.00% APY on your balances with direct deposit.

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FAQs

Once you have a SoFi Checking and Savings account, you can use the app to send money to other people, between your accounts, and more. Simply select the type of money transfer you want to make, how much you want to send, and the frequency.
You can transfer money to friends and family via a peer-to-peer (P2P) transfer. Simply log in to the SoFi app, select “Send money to a friend,” and input the recipient’s email address or phone number. They should receive the money in two to three business days.
If your friends and family members are SoFi members, you can send them money instantly through the app.
You can set up a recurring P2P transfer when choosing the frequency for your money transfer. For example, you can select “Monthly” as the frequency and that person will receive money from you each month until you cancel the recurring transfer.
Money transfers between SoFi members are instant. If you’re sending money to someone outside of SoFi, it takes two to three business days for the amount to post to their account. 
Log in to the SoFi app, input the type of transfer, recipient, and amount of money. Then select the frequency of the money transfer and you’re all set.
No, making international transfers is not currently possible with a SoFi Checking account.

Make your money move.

With SoFi, you can transfer money without fees. Give your funds the freedom to move by opening a SoFi Checking and Savings account today.

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