SoFi product overview
SoFi offers Checking & Savings (no monthly fee, competitive APY), Invest (stocks, ETFs, crypto, no commissions), Relay (free credit and net worth tracking), personal loans, student loan refinancing, and the SoFi credit card. Each product is managed separately - closing one does not affect others.
Financial management alternatives
- Empower AFFILIATE - Free net worth and investment tracking across all your accounts. Replaces SoFi Relay with more comprehensive analysis.
- Fidelity - Full-service brokerage with no minimums, 0% commissions, and fractional shares. Strong alternative to SoFi Invest.
- Ally Bank - High-yield savings with no monthly fees. Competitive APY to SoFi.
Frequently asked questions
- How do I close a SoFi bank account?
- Zero out the balance, then Account → Settings → Close Account, or call 1-855-456-7634.
- Can I cancel a SoFi loan?
- No. Loans must be paid off or refinanced.
- Does closing SoFi affect my credit score?
- Closing bank/invest accounts has no credit impact. Closing the SoFi credit card may slightly affect your score.