Bank record
SoFi: who holds your money
SoFi Bank, N.A.
- Institution type
- Bank
- Insurance route
- Banks and direct bank accounts
- Recorded partner banks
- 1
- Disclosure read
- September 5, 2026
Insurance route
Banks and direct bank accountsThe disclosure for SoFi, read on September 5, 2026, describes a direct bank arrangement for FDIC coverage, federal insurance for bank deposits. This concerns deposits at the relevant bank. The exact disclosure follows.
Summary
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.
Current commentary
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
1 bankSoFi Bank, National Association
- FDIC certificate
- 26881
- Role
- program bank
- Uninsured deposit share
- 5.0%
- Lefomi grade
- Grade AScore 99.2 out of 100
- Quarter ending
- June 30, 2026
- Other peers
- 126
- Peer group
- Banks, $10B to under $100B
- Deposit insurance
- FDIC insured
Grade alerts for SoFi Bank, National Association
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