SoFi Checking Review
Earn 0.50% APY on checking with up to a $400 sign-up bonus. Independent SoFi Checking review: 4.6/5 for checking. Best for All-in-one digital banking.
By Michael Hewitt, Founder & Editor-in-Chief. Rates last checked September 7, 2026.
Our verdict
A checking account that pays interest is rare, and SoFi's pays 0.50% APY with no account, overdraft or minimum balance fees, which suits people who want checking tied to SoFi savings and investing. That combination is why it rates this well. The top $400 bonus requires $5,000+ in qualifying direct deposits, and there are no physical branches.
Skip it if you want a physical branch you can walk into.
About SoFi Checking
Earn 0.50% APY on checking with up to a $400 sign-up bonus. SoFi Checking is offered by SoFi Bank, N.A. Our editorial rating is 4.6 out of 5.
Best for: All-in-one digital banking.
Editorial grade: A (composite score 91/100).
Highlights
- 0.50% APY on checking balances
- Up to $400 with $5,000+ direct deposit over the bonus period
- 55,000+ fee-free Allpoint ATMs
What we like
- Pays 0.50% APY on checking (rare)
- No account, overdraft, or minimum balance fees
- Fully integrated with SoFi savings and invest
Where it falls short
- Top bonus requires $5,000+ in qualifying direct deposits
- No physical branches
Fees, minimums, and rates
Monthly fee: $0/month. Minimum to open: $0. Current APY: 0.50%. New-customer bonus: Up to $400. Rates and fees last checked on September 7, 2026.
How we reviewed it
This is a desk review: we have not opened an account with SoFi Bank, N.A.. It is built from SoFi Bank, N.A.'s published rates, fee schedule and terms and from the public complaint record, and compared with the other products in the Checking shortlist. Our bank-account reviews weight APY (30%), fees (20%), access and convenience (15%), account features (15%), trust and safety (10%), and customer support (10%). The rubric is the same for every brand.
The bank behind this account
- SoFi Bank, FDIC certificate 26881: capital, loan quality, every office and the complaint record.
Similar products to compare
- SoFi Checking & Savings review
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Read our full editorial methodology for how we review products.