How to close a SoFi account
To close your SoFi account, you must contact SoFi directly through their customer service team—there is no self-service option in the app or online portal. Call SoFi at 1-855-456-7634, have your account number ready, and tell them you want to close your account. They will ask why you are leaving and may offer retention options, but you can decline. The representative will walk you through any final steps, such as confirming zero balance or arranging a final transfer of funds.
The closure process itself is fast—usually confirmed the same day—but the timeline for your account to fully disappear from their system can take 5 to 10 business days. If you have an active loan or credit product with SoFi, closing your account does not close the loan; you will still owe the balance and must continue making payments through a different method or account.
Key Takeaways
- You must call SoFi customer service to close your account; the option is not available in the app or website.
- Have your account number and any linked cards or loan details ready before you call.
- If you have an active SoFi loan or credit product, closing your account does not close the loan—you still owe the balance.
- Account closure is confirmed the same day, but it may take 5 to 10 business days for the account to fully close in their system.
- Any pending transactions or automatic payments linked to the account should be cancelled or redirected before closure.
What happens to your money before you close
Before you call to close your account, move any remaining balance out of your SoFi account. You can transfer funds to another bank account using the transfer feature in the SoFi app or website—this usually takes 1 to 3 business days depending on your receiving bank. If you have a small balance that is not worth the transfer time, you can ask the SoFi representative to send you a check, though this adds another week or two to the process.
If you have a SoFi debit card linked to the account, stop using it before closure. Any pending transactions—purchases, ATM withdrawals, or automatic bill payments—may still post after you close the account, which can cause overdraft fees or failed payments. Check your recent transaction history and cancel or redirect any recurring payments (subscriptions, insurance, utilities) to your new bank account at least a few days before you call.
Closing a SoFi checking or savings account versus a loan
SoFi offers both deposit accounts (checking and savings) and lending products (personal loans, student loan refinancing, mortgages). Closing your deposit account and closing a loan are two different actions. When you close a deposit account, you are ending the bank relationship for that specific account. When you close a loan, you are paying it off in full or arranging to move it elsewhere.
If you have both a deposit account and a loan with SoFi, closing the deposit account does not affect the loan. You will still owe the full balance and must continue making monthly payments. You can make those payments from a different bank account or through SoFi's payment portal without holding a deposit account. If you want to close a loan instead of just the deposit account, you will need to either pay it off in full or refinance it with another lender.
What to do with automatic payments and recurring charges
Before you close your account, identify any automatic payments or subscriptions that draw from your SoFi account. These include utility bills, insurance premiums, gym memberships, streaming services, and loan or credit card payments to other companies. Log into each service and update the payment method to your new bank account, or cancel the service if you no longer need it.
If you miss this step and a payment tries to post after your account closes, it will be declined. The merchant may charge you a failed payment fee, and you could face late fees on bills or service interruptions. Give yourself at least 3 to 5 business days to redirect these payments before you call SoFi to close the account. If you are unsure which services are linked to your SoFi account, review your last few bank statements and look for recurring charges.
Handling pending transfers and direct deposits
If you have set up a direct deposit with your employer or a government benefit program (Social Security, tax refunds, unemployment) to go to your SoFi account, update that information with the paying organization before you close the account. Direct deposits can take 1 to 2 pay cycles to redirect to a new account, so start this process as soon as you know you are closing SoFi.
For employer direct deposit, contact your HR or payroll department with your new bank account details. For government benefits, log into your account on the agency's website (Social Security, IRS, state unemployment office) and update your banking information there. If a deposit arrives after your account closes, SoFi will typically return it to the sender, and you will have to wait for it to be reissued to your new account—a delay of several weeks.
What happens to your SoFi debit card
When you close your SoFi checking account, your SoFi debit card will stop working. You do not need to do anything special to deactivate it—it will simply decline at the point of sale once the account is closed. However, you should destroy the physical card by cutting it up or shredding it to prevent accidental use or fraud.
If you have pending transactions on the card that have not yet posted, they may still go through for a few days after closure, drawing from your account balance. This is why it is important to move your money out before you call to close. If you are worried about a specific pending charge, ask the SoFi representative about the timing and whether you should wait for it to post before closing.
Confirming your account is fully closed
After you close your account, SoFi will send you a confirmation email or letter. Keep this for your records. The account will disappear from your SoFi app and online portal within a few days, but it may take up to 10 business days for it to fully close in their backend system.
If you notice charges appearing after closure or if your account reappears in the app, contact SoFi customer service again. Occasionally, pending transactions or system delays can cause confusion. Having your closure confirmation number (provided during the call) will help the representative locate your case quickly.
Frequently Asked Questions
Can I close my SoFi account online or through the app?
No. SoFi does not offer account closure through self-service channels. You must call their customer service team at 1-855-456-7634 to close your account. A representative will guide you through the process and confirm closure on the call.
What if I have a negative balance or owe SoFi money?
If your account has a negative balance (overdraft), you must pay it before closure. The SoFi representative will tell you the amount owed and how to pay it. You can pay by phone during the call or transfer funds from another account first, then call to close.
Will closing my SoFi account hurt my credit score?
Closing a deposit account (checking or savings) does not affect your credit score because deposit accounts are not reported to credit bureaus. However, closing a SoFi credit product like a credit card or line of credit may have a small impact by reducing your available credit or changing your credit mix.
Can I reopen my SoFi account after I close it?
SoFi does not reopen closed accounts. If you want to use SoFi again in the future, you will need to open a new account. There is no waiting period, but you will go through the full signup and verification process again.
What if I have a SoFi loan but want to close my deposit account?
You can close your deposit account without closing your loan. Tell the SoFi representative that you want to close only the deposit account. Your loan will remain active, and you can continue making payments from a different bank account or through SoFi's payment portal.