SoFi: who holds your money
SoFi Bank, N.A.
SoFi is a bank. SoFi says customer money is held at SoFi Bank, National Association, with insurance reaching customers as direct FDIC insurance at a chartered bank. We read this information in the app's own public disclosure on September 5, 2026, and this page quotes that disclosure below. You can check each partner bank's own page on this site.
SoFi is itself a chartered bank, and customer deposits sit directly at SoFi Bank, National Association, rated letter A on this site. Federal deposit insurance reaches customers directly through that bank, rather than through a separate partner bank. Coverage is $250,000 per depositor, per insured bank, for each account ownership category. SoFi’s disclosure was read as of September 5, 2026.
Bank
- SoFi Bank, National AssociationFDIC #26881 · program bank5.0%above the insured limitA99.2
The figure is the share of total bank deposits above the $250,000 federal insurance limit, reported quarterly to the FDIC. High shares are normal for banks holding large app program balances. They do not mean your balance is uninsured: pass-through insurance usually covers customers individually at the partner bank. Across US banks in 2022 to 2026, those above roughly 36% saw large quarterly total deposit declines more often than those below. Most banks above that level saw no such fall. This measures deposit movement and does not predict trouble for any bank.
Disclosure
SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program.
www.sofi.com · as of September 5, 2026
Live page returns HTTP 403 to non-browser clients; text read from the Wayback Machine snapshot of this URL (2026-08/09). The monthly check will report a fetch error rather than a change until the block lifts. Participating banks of the SoFi Insured Deposit Program (above $250,000) are listed at sofi.com/banking/fdic/participatingbanks, which also refuses non-browser clients.