What is SoFi and how does it work?
SoFi is an online personal finance company that offers various financial products and services such as loans, investments, and banking. It primarily operates through a mobile app and website.
How do I sign up for SoFi?
You can sign up for SoFi by downloading the mobile app or visiting the website and following the prompts to create an account. You will need to provide personal information, such as your name, address, social security number, and income.
What types of loans does SoFi offer?
SoFi offers personal loans, student loans, mortgage loans, and small business loans.
How can I check my loan application status?
You can check your loan application status by logging into your SoFi account and navigating to the "Loan" section. You can also contact their customer service team for assistance.
I can't log into my SoFi account. What should I do?
Make sure you are using the correct login credentials. If you forgot your password, you can reset it by clicking on the "Forgot Password" link on the login page. If you continue to experience issues, you can contact SoFi customer service for further assistance.
Why was my loan application with SoFi denied?
SoFi conducts a thorough review of each loan application and considers various factors, including credit score, income, debt-to-income ratio, and credit history. If your application was denied, it may be due to one or more of these factors.
How do I make payments on my SoFi loan?
You can make payments on your SoFi loan by logging into your account and navigating to the "Payments" section. You can also set up autopay to have your payments automatically deducted from your bank account.
What should I do if I can't make my loan payment on time?
If you are unable to make your loan payment on time, contact SoFi customer service as soon as possible to discuss your options. They may be able to offer a deferment or forbearance.
Does SoFi charge any fees?
SoFi does not charge any application or origination fees for its loans. However, they do charge late fees for missed payments, and investment accounts may have management fees.
How do I close my SoFi account?
If you wish to close your SoFi account, you can contact their customer service team for assistance. Keep in mind that this will also cancel any active loans or investments you have with SoFi.
What happens to my investments if I close my SoFi account?
If you close your SoFi account, your investments will be liquidated and the funds will be transferred back to your bank account.
Can I transfer my investments from another brokerage to SoFi?
Yes, SoFi allows you to transfer investments from other brokerages through the ACATS system. You can initiate the transfer by logging into your SoFi Invest account.
What is the minimum investment required for SoFi's automated investing service?
The minimum investment required for SoFi's automated investing service, called SoFi Wealth, is $100.
Can I withdraw money from my SoFi Invest account whenever I want?
Yes, you can withdraw money from your SoFi Invest account at any time. Keep in mind that it may take a few business days for the funds to be transferred to your bank account.
What is SoFi Money?
SoFi Money is a cash management account offered by SoFi that combines the features of a checking and savings account. It offers benefits such as no account fees, high-interest rates, and ATM fee reimbursements.
How can I deposit money into my SoFi Money account?
You can deposit money into your SoFi Money account by linking an external bank account and transferring funds through the SoFi app or website. You can also set up direct deposit for your paycheck or deposit checks through the app.
What is the maximum amount of money I can deposit into my SoFi Money account?
The maximum amount you can deposit into your SoFi Money account is $250,000 per day.
How do I transfer money from my SoFi Money account to an external bank account?
You can transfer money from your SoFi Money account to an external bank account by linking the two accounts and initiating a transfer through the SoFi app or website.
What should I do if I see an error message while using SoFi?
If you encounter an error message while using SoFi, try refreshing the page or closing and reopening the app. If the issue persists, you can contact SoFi customer service for assistance.
Why am I unable to link an external bank account to my SoFi account?
There could be various reasons why you are unable to link an external bank account to your SoFi account. Try using a different browser or contact SoFi customer service for further assistance.
Can I use my SoFi account internationally?
No, SoFi accounts can only be used within the United States.
How does SoFi protect my personal information?
SoFi takes the security of its users' information seriously and uses various measures such as encryption and firewalls to protect personal and financial data.
Is SoFi a legitimate company?
Yes, SoFi is a legitimate company registered with the Securities and Exchange Commission (SEC) and the Federal Deposit Insurance Corporation (FDIC).
Where can I find more information about SoFi's products and services?
You can visit SoFi's website or contact their customer service for more information about their products and services.
