SoFi

Digital bank · San Francisco, United States

SoFi Technologies is a US-listed consumer fintech whose subsidiary, SoFi Bank, National Association, received a full OCC national bank charter and FDIC insurance in January 2022, making it one of the few fintech-born companies to hold a real US bank licence. It runs student loan refinancing, personal loans, mortgages, checking and savings accounts and a brokerage arm, SoFi Securities LLC, serving over 13.7 million members. The bank operates in the United States only, in US dollars, and requires a US Social Security or ITIN number and a US address; it cannot serve individuals living abroad. SoFi does not offer a dedicated small business banking account, although it markets a separate 'Big Business Banking' service aimed at larger corporates.

Legal name: SoFi Technologies, Inc.
Regulated by: Office of the Comptroller of the Currency (SoFi Bank, National Association), Federal Reserve (bank holding company supervision), Federal Deposit Insurance Corporation, US Securities and Exchange Commission, FINRA (SoFi Securities LLC), Consumer Financial Protection Bureau
Licence confirmed: yes, on a regulator's own list
Established: 2011
Website: www.sofi.com

Scores, 0 to 10

8.5Stablecoins (USDC, USDT and others)

SoFi Bank issues its own 1:1 reserved stablecoin SoFiUSD, launched for banks, fintechs and enterprise partners in December 2025 and opened to members in May 2026, and enterprise accounts can mint and burn it directly; the business platform is new and partly still rolling out. · source

7.0Financial strength & stability

Profitable in FY2025 with USD 481 million net income and USD 50.66 billion in total assets, backed by a real national bank charter and FDIC insurance, though unrated by major credit agencies. · source

7.0Customer satisfaction

Trustpilot rates sofi.com 4.3 out of 5 from more than 13,000 reviews. · source

7.0On-ramp: buy crypto with fiat

SoFi's enterprise banking page names exchanges, market makers and infrastructure firms as target clients and lists fiat-to-stablecoin on-ramps through SoFiUSD minting, with Cumberland, Bullish, BitGo, B2C2, Wintermute and Galaxy as initial participants in April 2026; ACH and FedNow access is still marked coming soon. · source

7.0Off-ramp: crypto to fiat in a business account

Enterprise clients can burn SoFiUSD back into dollars in their SoFi account and the platform is built to bank digital asset firms, but SoFi publishes no limits, speeds or source-of-funds rules for business crypto proceeds, checked September 2026. · source

6.0United States

SoFi Bank, N.A. is a full OCC-chartered, FDIC-insured national bank, but its account products are built for individual consumers, not small businesses. · source

5.0Lowest fees

SoFi checking and savings carry no monthly fee for individuals, but no fee schedule exists for a small-business account because none is offered. · source

5.0Crypto wallet and custody for a business

SoFi Bank, N.A. holds about 30 coins for individuals under its OCC charter since November 2025, and its Big Business Banking platform, announced 2 April 2026, gives enterprise clients deposit accounts with SoFiUSD mint and burn, but it lists no bitcoin or ether custody for companies and parts of it are still marked coming soon. · source

4.5Bitcoin

Individuals can buy, hold and send bitcoin to outside wallets in SoFi Crypto, which requires a Social Security number and a home address; SoFi does not offer bitcoin trading or custody to company accounts, checked September 2026. · source

4.5Ethereum

Individuals can buy, hold and transfer ether on-chain in SoFi Crypto, and SoFiUSD runs on Ethereum and Solana, but there is no ether trading, custody or staking for company accounts, checked September 2026. · source

4.0Business cards (Visa, Mastercard)

SoFi issues a personal debit card and a SoFi credit card, but there is no business card product. · source

3.0Best interest on business balances

Consumer savings pays up to 3.10-3.80% APY with direct deposit, but SoFi publishes no interest or treasury-yield product for business balances. · source

3.0High-risk verticals (iGaming, cannabis, adult, forex)

SoFi publishes no policy on high-risk verticals because it offers no small-business account of any kind. · source

2.5Cross-border payments, FX and multi-currency accounts

SoFi accounts are USD-only with no multi-currency holding or cross-border payment product. SoFi markets a 'Big Business Banking' page describing unified corporate banking, API payments and 24/7 settlement for larger enterprises, but publishes no pricing, minimums or onboarding detail. · source

2.0Crypto-friendly bank

SoFi sells crypto trading to individuals again, its page headed 'Buy, Sell, & Trade Crypto With the Safeguards of a Bank', but it has no business accounts and so banks no crypto companies. · source

2.0Fast digital onboarding

SoFi does not offer a small-business account or onboarding path; would-be business customers are told to use a personal account instead. · source

2.0Fintech companies that need a partner bank

No published safeguarding-account, BaaS or agency-banking product exists for other EMIs or payment institutions. · source

2.0Accept crypto payments

SoFi has no crypto checkout or merchant acquiring product; enterprise clients on its Big Business Banking network can pay each other in fiat or SoFiUSD, which is business-to-business settlement rather than merchant acceptance, checked September 2026. · source

1.5Startups & VC-backed companies

SoFi has no startup-specific banking product; its Big Business Banking page targets larger, established corporates rather than early-stage companies. · source

1.0Online businesses: e-commerce and SaaS

SoFi has no merchant acquiring or e-commerce collection product; it is a consumer bank and brokerage. No product exists for SaaS or subscription businesses; SoFi does not serve companies at the SME level. · source

1.0Trade, manufacturing & import-export

No trade finance, letters of credit or supply-chain finance product is published. · source

1.0Foreign-owned & non-resident companies

SoFi states directly it cannot support individuals or businesses residing outside the United States, including US citizens abroad. · source

Sources

Built on public information and the BankStore team's own aggregated experience; no confidential client or partner data. Bank Index and BankStore are not banks. This is information, not financial advice.