You can close a SoFi account online, by phone, or through the mobile app in about five minutes

SoFi lets you close your checking or savings account without a penalty or waiting period. You do not need to visit a branch—the whole process happens remotely. Before you close, make sure your account balance is zero (withdraw or transfer any remaining funds), any pending transactions have cleared, and you have a record of your account number and the last four digits of any linked cards.

The fastest route is the SoFi mobile app or website. Log in, navigate to your account settings, find the "Close Account" option, and follow the prompts. SoFi will ask you why you are closing and may offer to address concerns before you proceed. If you prefer to speak with someone, call SoFi customer service at the number on the back of your debit card or in the app. A representative can walk you through the closure and answer questions about what happens to direct deposits, automatic payments, or pending checks.

Key Takeaways

  • Empty your account completely before closing—withdraw or transfer all funds, as SoFi will not hold a balance after closure.
  • Make sure all pending transactions have posted and no automatic payments are still scheduled to that account.
  • You can close through the app, website, or by calling customer service; there is no fee or notice period required.
  • After closure, your account number becomes inactive and cannot be used for deposits or transfers.
  • Keep a record of your final statement and any tax documents (like 1099 forms for interest earned) before the account closes.

Steps to close your account through the app or website

Log into your SoFi account on the mobile app or at sofi.com. Tap or click on your profile icon or account menu, usually in the top left or right corner. Look for "Account Settings" or "Settings," then scroll to find "Close Account" or "Manage Accounts." SoFi may show you a list of your open accounts—select the one you want to close.

SoFi will ask you to confirm your choice and may display a message about what happens next. Read this carefully: it will tell you that the account closes when ready and cannot be reopened under the same account number. You may see an option to tell SoFi why you are closing (poor customer service, moving to another bank, low interest rates, etc.). This is optional, but the feedback can help SoFi improve. After you confirm, the account closes right away. You will receive an email confirmation with a closure reference number.

Closing by phone or in writing

Call the customer service number on the back of your SoFi debit card or in the app. Tell the representative you want to close your account. They will verify your identity by asking for your Social Security number, date of birth, or answers to security questions. Confirm that your account balance is zero and that no pending transactions remain. The representative will process the closure and give you a confirmation number.

If you prefer written confirmation, you can send a letter to SoFi's mailing address (found on your statement or the SoFi website) requesting account closure. Include your full name, account number, and the last four digits of your Social Security number. Send it certified mail so you have proof of delivery. This method takes longer—typically one to two weeks—but creates a paper trail if you need it later.

What to do with direct deposits and automatic payments before closing

If your paycheck or other regular deposits go to your SoFi account, update your employer or the organization sending the deposit at least a week before you close. Provide them with your new bank account number. If a deposit arrives after your account closes, it will be returned to the sender, and you may face delays getting that money.

Check for any automatic payments (subscriptions, insurance, loan payments, utility bills) linked to your SoFi account. Log into each service and update the payment method to a different account or card. If you miss one and a payment tries to post after closure, it will be rejected, which could trigger a late fee or service interruption. SoFi will not process payments from a closed account.

Handling outstanding checks and pending transactions

If you wrote checks from your SoFi account that have not yet cleared, wait until they do before closing. You can check your transaction history in the app to see which checks have posted. If a check arrives after your account closes, it will be returned unpaid, and the person who received it may charge you a returned-check fee.

Similarly, if you made a purchase with your SoFi debit card and the merchant has not yet charged your account (common with gas stations, hotels, or rental car companies that place a hold), wait for that transaction to post. Pending transactions can take three to five business days to settle. Once everything has cleared and your balance is zero, you are safe to close.

What happens to your tax documents after closure

If you earned interest on a SoFi savings account, you will receive a 1099-INT form by January 31 of the following year for tax purposes. This form will be mailed to the address on file with SoFi. read and save a copy of your final statement before closing, which shows the interest earned during the year. You will need this for your tax return.

If you close your account mid-year, the 1099 will reflect only the interest earned up to the closure date. Make sure your address is current in your SoFi profile so the form reaches you. If you do not receive it by early February, contact SoFi to request a copy.

Reopening a SoFi account later

Once you close an account, that specific account number is permanently inactive. If you want to bank with SoFi again in the future, you will open a new account with a new account number. There is no waiting period—you can open a new account when ready after closing, though SoFi may review your process as it would for any new customer.

If you closed because of a service issue or fee concern, contact SoFi before closing to see if they can resolve it. Sometimes a quick conversation with customer service can address the problem without losing your account history and established account number.

Frequently Asked Questions

Will SoFi charge me a fee to close my account?

No. SoFi does not charge a closure fee or require a notice period. You can close when ready at no cost. Some banks charge early closure fees if you close within a certain timeframe, but SoFi does not.

What if I have a negative balance when I try to close?

You cannot close an account with a negative balance. You will need to deposit funds to bring the balance to zero first. Contact SoFi customer service if you are unsure of the exact amount owed.

Can I close just my savings account and keep my checking account open?

Yes. If you have multiple accounts with SoFi, you can close one and keep the others open. When you initiate closure, SoFi will show you all your accounts and let you choose which one to close.

How long does it take for my account to fully close after I request it?

The account closes when ready when you confirm the request online or by phone. You will receive an email confirmation right away. However, it can take a few business days for the account to stop appearing in your app or for any pending transactions to fully clear.

What if I forgot to update a subscription before closing?

The payment will be rejected, and the service provider will likely send you a notice. Contact that company as soon as possible to provide a new payment method. Depending on the service, you may face a late fee or temporary service interruption, but updating the payment method will resolve it.