SoFi does not accept cash deposits directly, but you can move cash into your account through your bank or an ATM network

SoFi is an online bank with no physical branches, so you cannot walk into a location and hand over cash. Instead, you move cash into SoFi by first depositing it into another bank account you control — either your own account at a traditional bank, or through an ATM that accepts cash deposits — then transferring the money to SoFi electronically.

The fastest route is usually to deposit cash at an ATM that belongs to a network SoFi partners with, then transfer it to your SoFi account the same day. If you do not have access to one of those ATMs, you can deposit cash at your regular bank and then move it to SoFi using a standard bank transfer, which typically takes one to two business days.

Key Takeaways

  • SoFi has no physical branches, so you cannot deposit cash directly at a SoFi location.
  • You can deposit cash at an ATM in the Allpoint or MoneyPass network, then transfer it to SoFi the same day.
  • If you have a traditional bank account, depositing cash there first and then transferring to SoFi takes one to two business days.
  • SoFi does not charge a fee for incoming transfers, but your other bank may charge a fee for the initial cash deposit.

Using an ATM network to deposit cash the same day

SoFi customers can deposit cash at ATMs in the Allpoint or MoneyPass networks without paying a fee. Both networks have tens of thousands of ATMs across the United States — in grocery stores, pharmacies, convenience stores, and other retail locations. You can find the nearest participating ATM by searching the Allpoint or MoneyPass website, or by using the SoFi mobile app, which has a built-in ATM locator.

To deposit cash at one of these ATMs, insert your SoFi debit card, select the deposit option, and follow the on-screen instructions. The ATM will accept your cash and credit it to your SoFi account. Most deposits post the same day if you make them before the ATM's cutoff time (usually early evening), though some may take until the next business day depending on when you deposit.

Check your SoFi app or online banking portal to confirm the deposit has posted. If you do not see the money within 24 hours, contact SoFi customer service through the app or by phone to report the issue.

Transferring cash from another bank account to SoFi

If you do not have access to an Allpoint or MoneyPass ATM, deposit your cash at a bank where you already have an account. Once the cash is in that account, you can transfer it to SoFi using a standard ACH transfer (Automated Clearing House), which is a free electronic transfer between banks.

To set up the transfer, log into your SoFi account and look for the option to add an external bank account or initiate a transfer. You will need to provide your other bank's routing number and your account number at that bank. SoFi will then send two small test deposits (usually under $1 each) to that account to verify you own it. Once verified, you can transfer money from that bank to SoFi.

ACH transfers typically take one to two business days to complete. If you initiate a transfer on a Friday evening, for example, the money may not arrive in your SoFi account until Tuesday. Weekends and bank holidays add extra time.

What happens if you need cash out of SoFi instead

If you need to withdraw cash from your SoFi account, you can use your SoFi debit card at any ATM in the Allpoint or MoneyPass network for free. You can also withdraw cash at most retail locations that offer cash back with a debit card purchase — grocery stores, pharmacies, and convenience stores usually allow this.

If you need a larger amount of cash or prefer to withdraw from a specific bank's ATM, you can transfer money from SoFi to another bank account you own, then withdraw from that bank's ATM. This transfer also uses ACH and takes one to two business days.

Fees and limits on cash deposits

SoFi does not charge a fee for deposits made at Allpoint or MoneyPass ATMs, and it does not charge a fee for incoming ACH transfers from another bank. However, your other bank may charge you a fee for depositing cash at their ATM or branch — this varies by bank and account type. Check with your bank before depositing.

SoFi does not publish a daily or monthly limit on how much cash you can deposit through ATMs or transfers. However, if you deposit a large amount of cash in a short period, SoFi may flag the activity for review under anti-money-laundering rules. This does not mean you have done anything wrong — it is a standard bank procedure — but it may delay access to the funds while SoFi verifies the source of the money.

Troubleshooting a cash deposit that did not go through

If you deposited cash at an ATM and the money did not appear in your SoFi account within 24 hours, first check your SoFi transaction history to see if the deposit is listed as pending. If it shows as pending, wait until the next business day — it may still post.

If the deposit does not appear at all, or if it shows as rejected, contact SoFi customer service. Have the ATM location, the date and time of the deposit, and the amount ready. SoFi can check whether the ATM network received the deposit and trace where the money went. If the ATM malfunctioned or lost your cash, the ATM network operator (Allpoint or MoneyPass) is responsible for investigating and refunding you, though this process can take several weeks.

If you deposited cash at another bank and the transfer to SoFi did not arrive, check that you used the correct routing number and account number. A single digit wrong will cause the transfer to fail or go to the wrong account. Log into your other bank's account to see if the money is still there, then contact SoFi to initiate the transfer again with the correct information.

Frequently Asked Questions

Can I deposit cash at a regular bank ATM and have it go straight to SoFi?

No. If you deposit cash at an ATM belonging to a bank other than SoFi, the money goes into that bank's account, not SoFi. You would then need to transfer it to SoFi using an ACH transfer, which takes one to two business days. Use only Allpoint or MoneyPass ATMs for same-day deposits to SoFi.

What if I do not have a bank account outside of SoFi?

Find an Allpoint or MoneyPass ATM near you and deposit your cash there using your SoFi debit card. This is the fastest way to get cash into your SoFi account without needing another bank account. If no ATM is nearby, you can open a free checking account at a traditional bank, deposit cash there, and then transfer to SoFi.

How long does it take for cash deposited at an ATM to show up in SoFi?

Most Allpoint and MoneyPass ATM deposits post the same day if you deposit before the ATM's cutoff time, usually early evening. Some deposits may take until the next business day. Check your SoFi app to see if the deposit is listed as pending.

Is there a limit to how much cash I can deposit?

SoFi does not publish a specific daily or monthly limit for cash deposits. However, deposits of very large amounts in a short time may trigger a review for anti-money-laundering compliance. This is normal and does not mean you have done anything wrong, but it may temporarily delay access to the funds.

What should I do if an ATM took my cash but did not credit it to my account?

Contact SoFi customer service with the ATM location, date, time, and amount. SoFi will investigate with the ATM network operator. If the ATM malfunctioned, the network operator is responsible for refunding you, though the process can take several weeks.