Funding your SoFi Invest account is a straightforward process once your bank account is connected. In just a few steps, you can transfer money from your SoFi checking or savings account—or from an external bank—and have funds available to start investing.
If you haven’t linked a bank account yet, you’ll need to complete that step before you can fund your SoFi account.
Open the SoFi App and Go to Invest
To get started, open the SoFi app and log in. Once you’re on the main screen, look at the navigation bar at the bottom of the screen.
You’ll see several options, including Home, Banking, Crypto, Invest, and Loans. Tap Invest to open your investment dashboard.
Your dashboard may look mostly empty if you’re just getting started. If you’ve already invested, you’ll see your account value, performance information, and various actions.
Look for the Add Cash button and tap it.
This takes you to the Transfer Money screen, where you can choose where your money is coming from, where it’s going, and how much you want to transfer.
Link a Bank Before You Fund Your SoFi Account
If you haven’t connected a bank account yet, tap the From field on the transfer screen.
A menu will appear showing the accounts you already have linked. If you’re a new user, you may only see your SoFi Invest account.
At the bottom of the menu, tap Link New Account.
SoFi will then show you information about connecting your bank account. Review the information and tap I Agree to continue.
How SoFi Connects to Your Bank
SoFi uses a third-party service called Plaid to help connect financial accounts. Plaid acts as a secure connection between your bank and financial apps.
You’ll be asked to enter your phone number and verify it with a code sent by text message. After verification, you’ll be taken to a list of supported financial institutions.
Plaid supports thousands of banks and credit unions, so your financial institution should be available. If you don’t immediately see your bank, use the search bar to find it.
Select your bank and follow the on-screen instructions to sign in.
Choose the Bank Account You Want to Use
After signing into your bank, you’ll be asked to choose which accounts you want to connect.
Only select an account you actually intend to use to fund your SoFi account.
When choosing between different account types, stick with a checking or savings account for investment funding.
Don’t Use a Credit Card to Fund Investments
You may see credit cards listed alongside your other financial accounts. Avoid selecting a credit card to fund your investments.
Using borrowed money from a credit card to invest can expose you to high interest charges. Credit card interest rates can be extremely expensive, and investment returns are never guaranteed.
Instead, use available funds from a checking or savings account.
Once you’ve selected the appropriate bank account, review the authorization information and continue. Your bank may show you exactly what information will be shared with SoFi. Review the details and authorize the connection if everything looks correct.
After the connection is approved, you’ll be returned to the SoFi app.
Select Your Linked Bank Account
Back on the Transfer Money screen, tap the From field again.
Your newly connected bank account should now appear in the list. Select it.
Next, check the Transfer To field and make sure your Self-Directed Invest account is selected.
At this point, you’re ready to enter the amount you want to transfer.
How to Fund Your SoFi Account
Enter the amount you want to deposit into your SoFi Invest account.
For example, you could enter $10 as your initial deposit. According to the transcript, there is no minimum required to fund a SoFi Invest account, although promotional offers may have their own requirements.
If you’re funding the account from a SoFi checking or savings account, the money may be available instantly once the transfer is completed.
Transfers from an external bank can take longer to fully clear. However, SoFi may provide an instant funding limit that allows some or all of the deposit to become available for investing before the entire bank transfer finishes processing.
Any remaining amount may appear as a pending deposit until the transfer clears.
Review Your Transfer
Once you’ve entered your amount, tap Preview.
You’ll see a summary showing:
- The amount you’re transferring
- The account the money is coming from
- The SoFi Invest account receiving the money
Take a moment to make sure all the information is correct.
When you’re ready, use the Slide to Add Cash control at the bottom of the screen to submit the transfer.
SoFi will process the transfer and display a confirmation once it’s complete.
Confirm That Your SoFi Account Is Funded
After the transfer is processed, tap Done to return to your investment dashboard.
Your buying power should now reflect the amount you deposited. For example, if you had $0.38 available and transferred $10, your available buying power could increase to $10.38.
That’s how you fund your SoFi account and get your money ready for investing.
Consider Setting Up Recurring Deposits
After completing your first transfer, SoFi may give you the option to make the deposit recurring.
Recurring deposits can be useful if you want to invest regularly without manually transferring money every time. However, if you’re just learning how to fund your SoFi account, it’s a good idea to understand the basic transfer process first.
Once you’re comfortable with one-time deposits, you can decide whether recurring contributions make sense for your investing strategy.
Final Thoughts
Learning how to fund your SoFi account is an important first step toward investing through SoFi. The basic process is simple: link a checking or savings account, select it as your funding source, enter the amount, review the transfer, and submit it.
Depending on where your money is coming from, your funds may be available instantly or may take some time to fully clear. Once the money is available in your SoFi Invest account, you can use it toward eligible investments such as stocks and ETFs.
Before making any investment, remember that investing involves risk, and depositing money is only the beginning. The next important decision is determining what investments fit your goals and risk tolerance.
