How to Transfer Money Out of SoFi Invest

Video how to transfer money from sofi invest to bank account

How to transfer money out of SoFi invest account is a common question of many beginner investors. As the “social financing platform” doesn’t charge anything to open an account, it allows everyone to open a free account and start financing without having a significant amount of money. This is not the only feature that makes SoFi invest account an ideal finance company. You can transfer or withdraw your money at any time from your account by using SoFi invest mobile application or SoFi.com. Initiate a transfer by clicking into the “invest account” you want to transfer from, then go to “Manage”, and “Transfer” option.

It shows that SoFi makes moving money between the SoFi Invest account and SoFi money extremely easy. The feature is an excellent factor to consider choosing SoFi or other apps like Betterment .

Put simply, if you’re looking for a finance company to start investing and move your money seamlessly, SoFi makes the right choice.

Let’s delve into the details to find out more about how SoFi works and how you can transfer money out of SoFi invest.

SoFi – How Does it Work

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SoFi money is typically a cash management platform or an account a non-bank financial service that SoFi offers. The online management account is popular for its refinance or student loans. Like cash accounts, it sweeps the customer’s funds into partner banks to benefit them from FDIC insurance.

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In addition to that, the SoFi invest account offers an above-average rate of interest with no overdraft and monthly fees. SoFi doesn’t offer a free ATM network, whereas, it reimburses third-party ATM fees. Keep in mind that it doesn’t charge any ATM fees.

Some Upsides of SoFi Invest Account

How to Transfer Money Out of SoFi Invest

The SoFi invest balance in the account comprises two categories. One is buying power and the other is transferable or withdrawable cash.

This cash amount includes all the cash or funds that SoFi settles, clears, and is available to transfer back to the bank account.

Once all these activities in the accounts settle, transferable and buying power becomes equal.

Steps to withdraw or Transfer Funds from an Active SoFi Investing Account

If you’re using a mobile app follow the given step;

  • Select your SoFi Invest Account to transfer or withdraw from. Click ‘Manage’, or click ‘Withdraw’.
  • Choose the cash amount you like to transfer out (up to the options of the withdrawable available showing).
  • Select ‘From’ which account ‘To‘ which account you want to transfer.
  • Click the ‘Review’ tab when you’re ready for the withdrawal submission

Moreover, it may take 2 to 3 business days for the funds to transfer into the chosen account base on a typical ACH deposit time frame.

Conditions you need to satisfy before withdrawing funds from your SoFi Active Account

Steps to withdraw or transfer funds from an automated investing account

If you’re using a mobile app follow the given step;

  • Choose your SoFi Invest Account and tab on ‘Manage’ or ‘Withdraw’ to transfer or withdraw .
  • Select the amount you want to withdraw or transfer out (pick from the available withdrawable showing).
  • Select the account from which you want to transfer. Also choose the account you want to transfer.
  • Once SoFi initiate the transfer, it triggers the trade and generates transferable cash. Trades processes on the available business day.
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Furthermore, your requested transfer and withdrawal initiates into the selected account within two business days from the execution date. It may take 2 to 3 business days for the funds to transfer into the chosen account base on a typical ACH deposit time frame.

Conditions you need to satisfy before withdrawing funds from your SoFi automated account

Steps to withdraw or transfer crypto funds from an individual account

  • Go to your SoFi Invest Account and tab ‘Withdraw’ or choose “Manage’ to transfer.
  • From the transferable showings on display, choose the amount you wish to transfer out.
  • Choose an account you’re transferring cash from. You also need to select the account you’re transferring money to.
  • Tab ‘Review’ to check your withdrawal submission

Conditions you need to satisfy before withdrawing crypto funds from your SoFi active account

Summing Up

All in all, SoFi is an easy and great way to start funding with less investment amount. Thus, the article includes steps to transfer or withdraw money out of SoFi invest.