You can withdraw money from SoFi savings in three ways: through the mobile app or website, by transferring to an external bank account, or by using an ATM if you have a SoFi checking account linked to your savings.
SoFi savings accounts don't come with a debit card, so you can't swipe at a store or withdraw cash directly at a teller window. Instead, you move money out through digital transfers or, if you also hold a SoFi checking account, you can use the ATM network that comes with it. The method you choose depends on how quickly you need the money and where it needs to go.
All three routes are free. SoFi doesn't charge withdrawal fees, transfer fees, or ATM fees for its own network. There are no limits on how many times you can withdraw in a month — federal rules that once capped savings withdrawals have been removed.
Key Takeaways
- SoFi savings accounts have no withdrawal limits and charge no fees for transfers, ATM use, or external bank transfers.
- The fastest way to access cash is through a linked SoFi checking account and the Allpoint ATM network, which has over 55,000 machines.
- Transfers to an external bank account take one to three business days, depending on whether you use standard ACH or expedited transfer.
- You can initiate all withdrawals through the SoFi mobile app or website without calling customer service.
- If you need cash when ready and don't have a SoFi checking account, opening one takes about five minutes and gives you when ready ATM access.
Withdrawing through the SoFi app or website
The simplest route for most withdrawals is to transfer money from your savings account directly through the SoFi app or website. Open the app, tap the savings account, select "Transfer," and choose whether you want to move money to an external bank account or to another SoFi account you own.
If you're transferring to an external bank account, you'll need to add that account first. SoFi will ask for the bank's routing number, your account number, and the account type (checking or savings). You can add a new external account right in the transfer flow without leaving the app.
Standard transfers to external accounts take one to three business days. SoFi also offers expedited transfers for an additional fee — usually $0.50 to $1.50 — that arrive the same business day or next business day depending on the time you initiate the transfer and your bank's processing speed. Transfers to another SoFi account you own happen when ready.
Using ATMs if you have a SoFi checking account
If you also hold a SoFi checking account, you can withdraw cash from your savings account at any Allpoint ATM without a fee. SoFi's checking account comes with access to over 55,000 Allpoint machines in the US, plus some international locations. You can find nearby ATMs through the SoFi app by tapping "ATM Locator."
To withdraw from savings at an ATM, you'll need the debit card that comes with your SoFi checking account. You can't use a savings-only card because SoFi doesn't issue one. When you insert the card and enter your PIN, you can choose which account to withdraw from — checking or savings — on the ATM screen.
Withdrawals at Allpoint ATMs are when ready and free. If you use an ATM outside the Allpoint network, SoFi doesn't charge you, but the ATM operator may charge a surcharge (typically $2 to $3). You'll see the surcharge warning before you complete the transaction.
Opening a SoFi checking account for ATM access
If you have only a SoFi savings account and need cash quickly, opening a SoFi checking account takes about five minutes and gives you when ready access to the Allpoint ATM network. You don't need to fund the checking account with a minimum balance — SoFi checking has no monthly fees and no minimum deposit requirement.
Once your checking account is open, you can link it to your savings account in the app and transfer money between them when ready. Then use the debit card to withdraw from any Allpoint ATM. This is often faster than waiting one to three days for a transfer to an external bank account.
The checking account also gives you other options: you can write checks, set up bill pay, or use the debit card to make purchases if you ever want to. But if you only need ATM access to your savings, you don't have to use any of those features.
What happens when you withdraw
When you withdraw money from your SoFi savings account, the balance updates when ready in the app, even if the money hasn't reached the destination yet. For transfers to external banks, the receiving bank will show the deposit one to three business days later depending on the transfer type and the receiving bank's processing schedule.
Withdrawals don't affect your interest rate or account status. SoFi savings accounts earn interest on the full balance every day, and withdrawals don't trigger any penalties or fees. If you withdraw below a certain balance, SoFi won't close your account or reduce your rate — there's no minimum balance requirement.
Timing for different withdrawal methods
| Withdrawal Method | Time to Access Cash | Fee |
|---|---|---|
| Allpoint ATM (with SoFi checking) | when ready | None |
| Standard transfer to external bank | 1–3 business days | None |
| Expedited transfer to external bank | Same or next business day | $0.50–$1.50 |
| Transfer to another SoFi account | when ready | None |
Frequently Asked Questions
Can I withdraw money on weekends or holidays?
ATM withdrawals work 24/7, including weekends and holidays. Transfers to external banks process on business days only, so a transfer initiated on Friday evening won't arrive until Monday or Tuesday depending on the receiving bank.
What if I forget my SoFi PIN?
You can reset your PIN through the SoFi app under "Settings" or "Security." If you can't access the app, call SoFi customer service and they can help you reset it. You'll need to verify your identity with your Social Security number and other account details.
Can I withdraw more than a certain amount per day?
SoFi doesn't set daily withdrawal limits on savings accounts. However, some external banks may have limits on how much they'll receive in a single transfer. If you're moving a large amount, contact the receiving bank first to confirm they can accept it.
What if my transfer to an external bank fails?
Failed transfers are usually caused by incorrect routing or account numbers, a closed account at the receiving bank, or a mismatch between the account name and the account number. SoFi will notify you in the app if a transfer fails and give you the reason. You can correct the information and try again.
Do I lose interest if I withdraw money mid-month?
No. SoFi calculates interest daily on your full balance, so you earn interest on the money right up until the day you withdraw it. There's no penalty for early withdrawal or for reducing your balance.