How to close a SoFi bank account
You can close a SoFi bank account by calling SoFi customer service, logging into your account online, or visiting a SoFi branch if one is near you. The fastest route is a phone call: SoFi's support team can walk you through the closure and confirm it's complete before you hang up. You'll need to empty your account first—transfer or withdraw any remaining balance—and make sure no automatic payments or direct deposits are still linked to it.
SoFi doesn't charge a fee to close an account, and the process usually takes a few minutes. However, if you close the account while money is still in it, you'll need to decide what to do with that balance before the closure is final. Some people close accounts because they're switching banks, others because they no longer use the account. Either way, the steps are the same.
Key Takeaways
- Call SoFi customer service at the number on the back of your card or in the app to close your account—this is the fastest and most reliable method.
- Empty your account completely before closure by transferring your balance to another bank or withdrawing it in cash.
- Cancel any automatic payments, recurring transfers, or direct deposits linked to the account at least a few days before you close it.
- SoFi will send you written confirmation of the closure, which you should keep for your records in case questions arise later.
- After closure, you can no longer use the account number or debit card, so destroy the card once the account is confirmed closed.
Empty your account before you close it
SoFi won't close an account that still has money in it. Before you call to request closure, transfer your remaining balance to another bank account or withdraw it. You can transfer money from SoFi to another bank using an external transfer—this usually takes one to three business days depending on the receiving bank. Alternatively, you can withdraw the full balance at an ATM or request a check from SoFi.
If you have a small balance and don't want to wait for a transfer, withdrawing cash is the quickest option. If the balance is larger or you prefer not to carry cash, set up an external transfer to your new bank account. Either way, make sure the account is completely empty before you contact SoFi to close it.
Stop all automatic payments and direct deposits
Before closing your account, cancel any automatic bill payments, recurring transfers, or direct deposits that are connected to it. If your paycheck is being deposited into the SoFi account, update your employer's payroll system with your new bank account information. If you have automatic payments set up for utilities, subscriptions, or loans, log into those services and change the payment method or account number.
Do this at least three to five business days before you close the account. If a payment tries to go through after the account is closed, it will be rejected, and you could face late fees or service interruptions. Check your account settings in the SoFi app to see which payments and deposits are active, then update each one individually.
Call SoFi customer service to request closure
Once your account is empty and all payments are stopped, call SoFi's customer service line. The number is on the back of your debit card, in the SoFi app under Help, or on the SoFi website. Have your account number and a form of ID ready when you call. Tell the representative you want to close your account, and they'll walk you through any final steps and confirm the closure is complete.
The representative may ask why you're closing the account—this is optional information, and you don't have to answer. They may also offer you incentives to keep the account open. If you're certain you want to close it, simply confirm that request and ask for a confirmation number or reference number for your records.
Alternative ways to close your account
If you prefer not to call, you can close your SoFi account through the mobile app. Log in, go to Settings or Account, and look for the option to close or deactivate your account. Some account types allow you to initiate closure online, though you may still need to confirm it by phone. Check the app first to see if this option is available for your specific account type.
If there's a SoFi branch near you, you can also visit in person and ask a representative to close the account. This is less common than calling or using the app, but it's an option if you prefer face-to-face service. Bring your ID and make sure your account is empty before you go.
What happens after you close your account
Once SoFi confirms the closure, the account is no longer active. You'll receive written confirmation by mail or email within a few business days. Keep this confirmation for your records. Your debit card will stop working immediately, so destroy it or cut it up to prevent accidental use.
If you had a SoFi savings account linked to your checking account, closing one doesn't automatically close the other. You'll need to close each account separately if you want both gone. After closure, you won't be able to log into that account anymore, and SoFi will retain your account history for the time required by law—typically seven years for tax and fraud purposes.
What to do if you change your mind
If you close your account and then decide you want it back, you can contact SoFi to ask about reopening it. Whether they'll reopen a recently closed account depends on how long ago you closed it and SoFi's policies at that time. It's usually easier to reopen an account within 30 days of closure than after that window. If reopening isn't possible, you can open a new SoFi account, though you may not be may be able to access for the same sign-up offers you received the first time.
Keep in mind that reopening an account is not may provide, so if you're unsure about closure, you might want to pause and think it through first. If you do decide to reopen, SoFi will review your request just as they would for a new customer.
Frequently Asked Questions
Will closing my SoFi account hurt my credit score?
Closing a bank account doesn't directly affect your credit score because bank accounts aren't reported to credit bureaus. However, if you have an outstanding loan or credit product through SoFi, closing your bank account won't close those accounts. You'll need to pay off or transfer those separately.
What if I still have pending transactions when I close my account?
Pending transactions may still process after you close the account, which can cause overdraft fees or rejection. Wait until all pending transactions have cleared before closing. Check your recent activity in the app to see what's still pending, and give it a few extra days if you're unsure.
Can I close my SoFi account if I have a negative balance?
No. If your account is overdrawn, you must bring it to zero or positive before closure. Pay the negative balance first, then proceed with closing the account. If you don't, SoFi may hold the account open until the debt is resolved.
How long does it take to close a SoFi account?
The closure itself takes a few minutes once you call or submit the request. SoFi will send written confirmation within a few business days. Your debit card stops working immediately, but the official closure confirmation may take up to a week to arrive.
Do I need to close my SoFi account before opening a new one elsewhere?
No. You can open a new bank account at any time, even while your SoFi account is still active. However, it's a good idea to set up your new account and transfer your balance before closing SoFi, so you don't have a gap in banking services.