SoFi Review (October 2026): Fees, US States and Licenses

Our verdict

SoFi Crypto is offered by SoFi Bank, N.A., an OCC-regulated national bank, and launched on November 11, 2025 with 25+ coins for residents of all 50 states and DC. Trades cost 1.90% at the lowest monthly-volume tier and 0.90% above $10,000. Purchases draw from SoFi Checking or Savings. Crypto can be deposited, but withdrawals to external wallets were not available as of June 2026.

SoFi fees

Maker / taker

— Not verified

Simple buy

1.90% per buy or sell on monthly volume up to $1,000, falling to 0.90% above $10,000; price slippage tolerance typically up to 0.10%

Volume tiers

Monthly crypto volume tiers: $0-$1k 1.90%, $1k-$5k 1.50%, $5k-$10k 1.25%, $10k+ 0.90% (fee sheet effective June 22, 2026).

ACH deposit

— Not verified

Wire deposit

— Not verified

Card purchase

— Not verified

USD withdrawal

— Not verified

Crypto withdrawal

Not available as of the June 22, 2026 fee sheet (a fee will be disclosed if outbound transfers launch); inbound crypto transfers are free

Other fees

No account setup, maintenance, custody, inactivity or dormancy fees

Minimum deposit

— Not verified

Is SoFi available in my state?

SoFi Bank, N.A. launched SoFi Crypto on November 11, 2025; its Crypto Account Agreement (effective May 27, 2026) accepts residents of all 50 states and DC.

• AL available
• AK available
• AZ available
• AR available
• CA available
• CO available
• CT available
• DE available
• DC available
• FL available
• GA available
• HI available
• ID available
• IL available
• IN available
• IA available
• KS available
• KY available
• LA available
• ME available
• MD available
• MA available
• MI available
• MN available
• MS available
• MO available
• MT available
• NE available
• NV available
• NH available
• NJ available
• NM available
• NY available
• NC available
• ND available
• OH available
• OK available
• OR available
• PA available
• RI available
• SC available
• SD available
• TN available
• TX available
• UT available
• VT available
• VA available
• WA available
• WV available
• WI available
• WY available

New York

Yes

ID check (KYC)

Yes

Withdraw crypto

No

Funding

SoFi Checking and Savings balance, Crypto

Is SoFi regulated?

• Bank charter
• NASDAQ: SOFI

US operator

SoFi Bank, N.A.

Parent company

SoFi Technologies, Inc. (NASDAQ: SOFI)

State licenses

Operates under SoFi Bank's national bank charter rather than state money transmitter licenses; NYDFS notes that SoFi Digital Assets surrendered its New York licenses on March 25, 2024.

New York license

None

Bank charter

OCC national bank (SoFi Bank, N.A.)

Other

SoFi Bank issues the SoFiUSD (SOFID) dollar stablecoin; its terms are effective June 22, 2026.

Founded

2011

Headquarters

San Francisco, CA, USA

How secure is SoFi?

Proof of reserves

— Not verified

Audits

— Not verified

Insurance

Crypto and the SoFiUSD stablecoin are not FDIC or SIPC insured; SoFi Bank holds private keys itself in offline and online storage using shared omnibus addresses, per its account agreement.

Incidents since 2019

• 2024otherSoFi Digital Assets voluntarily surrendered its New York virtual currency licenses on March 25, 2024, according to NYDFS; SoFi relaunched crypto through its national bank in November 2025.

Crypto held on a platform is not covered by FDIC or SIPC insurance.

What you can do on SoFi

• Spot
• Stocks & ETFs

Buys draw directly from SoFi Checking or Savings. Inbound crypto transfers are supported for some assets (XRP deposits were added in April 2026). Outbound transfers were not available under the May 27, 2026 agreement: customers sell to the stablecoin and redeem to a SoFi account. SoFi's support site says it is working to add assets.

Apps

Web, iOS, Android

Support

Phone, Help center