Venmo is one of the most popular ways to send and receive money quickly among friends, family, or even for small businesses. With the increasing shift toward digital banking, many users are seeking the best ways to connect their bank accounts to payment platforms like Venmo.
SoFi has evolved into a leading all-in-one online financial platform, now offering robust banking, investing, and lending services. However, the banking arm known as SoFi Money was officially deprecated as of June 2022. If you’re still referring to "SoFi Money," it’s important to know that SoFi has now transitioned all bank customers to SoFi Checking and Savings for improved features and interest rates.
Note: SoFi Money has been discontinued. All users should be using SoFi Checking and Savings accounts as of 2022. If you still have a legacy SoFi Money account, it will continue to work with Venmo, but you are no longer earning interest and will eventually be required to upgrade.
Quick Answer: Can You Link SoFi to Venmo?
Yes! Whether you have the updated SoFi Checking and Savings or a legacy SoFi Money account, you can use your SoFi account with Venmo. Linking the two lets you seamlessly transfer money in and out of Venmo, fund your Venmo wallet from your SoFi account, and cash out from Venmo back to SoFi.
Overview of SoFi Checking and Savings
- Earn up to 4.00% APY with direct deposit (as of June 2025, SoFi Plus members)
- SoFi Smart Card (launched December 2025): A secure, programmable debit card
- No account fees or minimum balance requirements
- FDIC insured up to $2 million
How to Link Your SoFi Account to Venmo: Step-by-Step Guide
- Open a SoFi Checking and Savings Account
- If you don’t already have one, sign up at SoFi’s website.
- Download and Set Up the Venmo App
- Link SoFi to Venmo
- In the Venmo app, tap “Me” (bottom right), then tap Settings > Payment Methods, and select Add bank or card...
- Select Bank and choose either Instant Verification (Plaid) or Manual Verification:
- Instant Verification (Plaid): Search for “SoFi” and log in with your SoFi credentials.
Troubleshooting tip: If you see an error, make sure your login info is current, disable VPN, and check for 2FA requests in your SoFi app or email.
- Manual Verification:
- Enter your SoFi Checking and Savings routing and account numbers (found in your SoFi app under the account details)
- Venmo will send two micro-deposits (less than $1 each) to your SoFi account within 1-3 business days
- Once you see the deposits in your SoFi account, return to Venmo and enter the exact amounts to verify ownership
Tip: If you recently upgraded from SoFi Money to Checking and Savings, your routing and account numbers may have changed. Double-check in your SoFi app before entering bank info in Venmo.
Transferring Money: SoFi and Venmo
Once your accounts are linked, you can:
- Send money from your SoFi account to your Venmo balance to pay friends or make purchases
- Transfer money from your Venmo balance to your SoFi bank account
Just select SoFi as your funding source at checkout or choose it as your destination when cashing out your Venmo balance.
Venmo Transfer Fees and Limits
| Transfer Type |
Fee |
Speed |
Typical Use |
| Standard Bank Transfer |
Free |
1-3 business days |
Moving money to/from your SoFi Checking or Savings |
| Instant Transfer (SoFi Debit Card) |
1.75% (min $0.25, max $25) |
Within 30 minutes |
Urgent transfers using your SoFi debit card |
Venmo Limits: New accounts start with a $299.99 weekly limit, which increases up to $4,999.99/week after identity verification. Instant transfers may be subject to an additional $2,999.99 per transfer limit.
SoFi Limits: SoFi Checking and Savings have generous transaction limits, but always check your personal account limits for large transfers.
How SoFi/Venmo Transfers Compare to Other Methods
| Method |
Fee |
Transfer Speed |
Security |
| Venmo (Standard) |
Free |
1-3 business days |
High (Plaid encrypted) |
| Venmo (Instant) |
1.75% fee |
<30 minutes |
High |
| Zelle (with SoFi or other banks) |
Free |
Minutes |
High (bank-secured) |
| ACH transfer |
Free |
1-3 business days |
Very High |
| Wire Transfer |
$0 (with SoFi), $10-$35 elsewhere |
Within hours (business days) |
Very High |
SoFi Smart Card and Venmo
The new SoFi Smart Card (launched December 2025) supports integration with digital wallets and major payment apps, including Venmo. You can instantly add your Smart Card to Venmo by photographing the card or entering your card number as a funding source for stramlined instant transfers.
Benefits of the Smart Card:
- Real-time transaction notifications
- Customizable security and spending controls in the SoFi app
- Freeze/unfreeze features for lost cards
- Supports Apple Pay, Google Pay, and Venmo
Security Tips When Linking Bank Accounts to Venmo
- Use only private WiFi or a secure cellular connection—avoid public WiFi during account linking or sensitive transfers.
- Enable two-factor authentication (2FA) on both SoFi and Venmo for an extra layer of protection.
- Monitor transactions closely—set up alerts in both apps to catch unauthorized activity.
- Understand that Plaid uses encryption to securely transmit your credentials to financial institutions.
- Never share your SoFi or Venmo password with anyone; neither service will ask for it by email or phone.
- Update your passwords periodically and use unique passwords for each account.
Troubleshooting & Frequently Asked Questions
- Why won’t my SoFi account connect to Venmo?
- Double-check your login credentials for accuracy.
- Turn off any VPN or proxy service.
- Ensure your SoFi account is open and in good standing.
- If using Plaid, check for two-factor authentication messages or needed approvals in the SoFi app.
- If Venmo consistently fails on instant verification, try manual entry.
- How long do Venmo’s micro-deposits take?
They usually appear in your SoFi account within 1-3 business days; be sure to enter the correct amounts in Venmo to complete verification.
- Is it safe to link my bank account to Venmo?
Yes, as long as you follow security best practices. Plaid (used by Venmo) encrypts your credentials and doesn’t store your login information. Both SoFi and Venmo are federally regulated and employ modern security protocols.
- What’s the difference between instant and standard Venmo transfers?
- Standard: Free, 1-3 business days, goes to linked bank account.
- Instant: 1.75% fee (2025), money arrives within 30 minutes to your bank debit card (including SoFi Smart Card and debit card).
