Banking Bank Reviews

SoFi® vs. Capital One [2025]: Member Perks or Family-Friendly Products?

SoFi® has a wide variety of financial products, but Capital One may be better for families and those who prefer in-person support.

By Christy Rakoczy

Edited by Melinda Sineriz, ABFP™

Updated Oct. 22, 2025

No account fees on SoFi Checking and Savings¹ We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at <a href="http://sofi.com/legal/banking-fees/">sofi.com/legal/banking-fees/</a>
Competitive APYs
Member perks like complimentary financial planning and loan discounts with SoFi Plus² SoFi Plus members can schedule an unlimited number of appointments with a financial planner during periods in which the SoFi Plus member meets the eligibility criteria set forth in section 10(a) of the SoFi Plus Terms and Conditions. SoFi members who are not members of SoFi Plus can schedule one (1) appointment with a financial planner. The ability to schedule appointments is subject to financial planner availability. SoFi reserves the right to change or terminate this benefit at any time with or without notice. Advisory services are offered by SoFi Wealth LLC, an SEC-registered investment adviser. Information about SoFi Wealth’s advisory operations, services, and fees is set forth in SoFi Wealth’s current Form ADV Part 2 (Brochure), a copy of which is available upon request and at <a href="http://www.adviserinfo.sec.gov/">www.adviserinfo.sec.gov</a>.
Highly-rated, unique mobile app
Investment options (including fractional shares)³ There are limitations with fractional shares to consider before investing. During market hours fractional share orders are transmitted immediately in the order received. There may be system delays from receipt of your order until execution and market conditions may adversely impact execution prices. Outside of market hours orders are received on a not held basis and will be aggregated for each security then executed in the morning trade window of the next business day at market open. Share will be delivered at an average price received for executing the securities through a single batch order. Fractional shares may not be transferred to another firm. Fractional shares will be sold when a transfer or closure request is initiated. Please consider that selling securities is a taxable event. ⁴ INVESTMENTS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUEAutomated investing is offered through SoFi Wealth LLC, an SEC-registered investment adviser.

Full-service banking with no monthly fees or overdraft charges
High ratings for its mobile app and customer satisfaction
Over 70,000 fee-free ATMs
Permits fee-free cash deposits at Walgreens or CVS

Our view

When comparing SoFi and Capital One, SoFi is the better choice for most.

SoFi offers better member benefits, a wider array of financial products, and a higher APY on checking and savings accounts, making it an ideal choice for those who want to manage most of their financial life in one place.

Capital One, on the other hand, offers more ATM access and in-person support options. It also has more specialized accounts for kids and teens as well as a more competitive APY for those who don't have direct deposit or a $5,000 minimum balance.

If you need that in-person help or have kids you want accounts for, Capital One is likely the way to go. If you don't, you may want to give SoFi a serious look to take advantage of all it has to offer.

When comparing SoFi and Capital One, SoFi is the better choice for most.

How we rate products

SoFi vs. Capital One


Best for	Member benefits and one-stop solution for your finances	Kids and teens accounts and in-person banking options
Number of branches	0	265
Number of fee-free ATMs	55,000+⁵ <p>We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees incurred when using out-of-network ATMs are not subject to reimbursement. SoFi’s ATM policies are subject to change at our discretion at any time.</p>	70,000+
Mobile app rating	4.8	4.9
Products offered	Checking account Savings account Credit cards Auto loan refinancing SoFi invest®⁶ <p><b>INVESTMENTS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • </b><b>MAY LOSE VALUE</b></p><p>Brokerage and Active investing products offered through SoFi Securities LLC, member FINRA(<a href="https://www.finra.org/">www.finra.org</a>)/SIPC(<a href="https://www.sipc.org/">www.sipc.org</a>).</p> Student loans Personal loans Mortgages SoFi Protect insurance	Checking accounts Savings accounts Credit cards Auto loans CDs
	Read our SoFi review	Read our Capital One review

SoFi is an online-only institution that offers a wide range of financial products. Capital One provides both online and in-person banking options. Both SoFi and Capital One are Member FDIC institutions,⁷ SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at <a href="http://sofi.com/banking/fdic/sidpterms">SoFi.com/banking/fdic/sidpterms</a>. See list of participating banks at <a href="http://sofi.com/banking/fdic/participatingbanks">SoFi.com/banking/fdic/participatingbanks</a>. ensuring your deposits are federally insured.

Checking accounts

	Monthly fee	Minimum opening deposit
SoFi	$0¹ <p>We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at <a href="http://sofi.com/legal/banking-fees/">sofi.com/legal/banking-fees/</a></p>	None
Capital One 360	$0	None
Capital One MONEY Teen Checking	$0	None

Capital One and SoFi have many similarities. Capital One 360 and SoFi Checking and Savings are ranked as top checking accounts. Neither has any minimum deposit requirements, and neither charges monthly fees or overdraft fees.⁸ Overdraft Coverage is limited to $50 on debit card purchases only and is an account benefit available to customers with Eligible Direct Deposits of $1,000 or more during the current 30-day Evaluation Period as determined by SoFi Bank, N.A.  The 30-Day Evaluation Period refers to the "Start Date" and "End Date" set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the "30-Day Evaluation Period"). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY.  Members with a prior history of non-repayment of negative balances are ineligible for Overdraft Coverage. Early pay is available with both SoFi and Capital One checking accounts, and both offer access to Zelle, making sending money a simple process.⁹ Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.

However, there are also some important differences between them.

SoFi offers member benefits to accountholders that Capital One can't match, including member rewards that you can earn and deposit into savings, home loan discounts up to $500, savings on travel, and more.

If you meet direct deposit requirements, SoFi earns a higher annual percentage yield (APY) on checking balances: 0.50% APY¹⁰ Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 1/24/25. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at <a href="https://www.sofi.com/legal/banking-rate-sheet">https://www.sofi.com/legal/banking-rate-sheet</a> to Capital One's 0.10% (as of 09/15/25) APY.

2025 award winner Best Checking and Savings Combo

5.0

SoFi Checking and Savings

SoFi Checking & Savings - Earn Up to $300 When You Set Up Direct Deposit

Limited-Time Offer: Earn up to a $300 bonus and up to 4.30% APY on Savings (3.60% APY¹¹with +0.70% APY Boost) for 6 Months on new accounts with eligible direct deposit. Terms Apply.¹² FDIC Insured.⁷

Learn More

While you can't typically deposit cash with SoFi unless you pay a fee to do so with Green Dot, Capital One has more free options for making deposits, including the ability to add cash to your account at no cost at Walgreens.

When it comes to international transactions, Capital One does not charge foreign transaction fees for its 360 Checking and MONEY Checking accounts, while SoFi may pass on a small fee charged by Mastercard.

Lastly, Capital One has more accounts focused towards kids as young as eight, while SoFi offers a student bank account but nothing specifically geared towards younger kids getting started with money management.

2025 award winner Best Overall Checking Account

4.9

CapitalOne 360 Checking

CapitalOne 360 Checking — Earn a $250 bonus

Earn a $250 bonus with 360 Checking. No fees, no minimums. Terms Apply.¹³

Learn More

Savings accounts

	Monthly fee	APY
SoFi	$0	Up to 3.60% with eligible direct deposit
Capital One 360	$0	3.40%
Capital One Kids Savings	$0	2.50% (as of 10/14/25)¹⁴ <p class="">The APY of 2.50% (as of 10/14/25) is accurate as of 05/02/25. Rates are subject to change and may vary by account type and financial institution. </p>

SoFi and Capital One both offer high-yield savings accounts with no monthly fees or minimum balances. SoFi offers the option to round up debit card purchases to the nearest dollar and automatically transfer the funds to savings, while Capital One does not.

SoFi's standard APY is also a bit higher than Capital One's, but SoFi requires an eligible direct deposit or a $5,000 balance to qualify for the best rate, while Capital One pays the same rate for all account balances without this added requirement. Capital One also offers a specialized kids' savings account, which SoFi lacks.

SoFi Plus members can unlock a higher APY by paying the SoFi Plus subscription fee. SoFi Plus membership is $10 per month. A SoFi Plus membership also includes higher cash back rewards with SoFi credit cards, unlimited financial planning with SoFi Wealth, and a 1% match on recurring deposits to SoFi Invest, paid in rewards points.

Both accounts make saving for separate goals simple. Capital One does so by allowing you to open multiple savings accounts, while SoFi uses vaults so you can save for multiple goals within one savings account. Some people find that easier.

5.0

2025 award winner Best Checking and Savings Combo

SoFi Checking & Savings - Earn Up to $300 When You Set Up Direct Deposit

Learn More

4.6

Use Cash App As Your All-in-One Financial Services Platform

Bank¹⁵without all the fees—save, send, and spend your money the way you want.¹⁶ Get paid up to 2 days early – up to 2 days earlier than most banks¹⁷

Download Cash App

5.0

2025 award winner Best Checking and Savings Combo

SoFi Checking & Savings - Earn Up to $300 When You Set Up Direct Deposit

Learn More

4.3

Enjoy $300 as a new Chase checking customer

When you open a new Chase Total Checking® account with qualifying activities.¹⁸ FDIC Insured. Offer valid through 1/21/2026.

Learn More

Other products

SoFi and Capital One both offer other products beyond just savings and checking accounts.

However, SoFi's offerings are more comprehensive. Its member benefits include discounts or boosted rates across product lines, so customers who are loyal to SoFi are more richly rewarded than dedicated Capital One customers.

SoFi

Here are some of the other financial products offered by SoFi:

Credit cards
Investments
Student loan refinancing
Personal loans
Mortgages
Private student loans
Auto loan refinancing

Notably, SoFi does not have CDs or money market accounts on offer for its customers.

Capital One

Capital One doesn't provide all of the same financial products as SoFi, but there are still plenty of options, including:

Credit cards
CDs
Auto loans
Auto loan refinance loans

ATM and branch access

Capital One has a larger ATM network than SoFi with 70,000 ATMs for Capital One compared to 55,000+ for SoFi. Capital One also offers in-person branches and cafes, while SoFi lacks any options to get support in person.

Customer service and support

SoFi

SoFi does not offer in-person support, but there are plenty of options to get help online or via phone. You can:

Chat with SoFi, but you must log into your account first to do so (or create an account). A virtual assistant is available 24/7 to help with some problems, or you can be connected to a live person during working hours.
Call 1-855-456-SOFI (7634) to talk with SoFi support.

While the hours vary by department, you can typically call between 5 a.m. and 7 p.m. However, some products, such as home loans, have shorter hours, and representatives are available only from 6 a.m. to 3 p.m.

Capital One

Capital One offers automated service any time, but live support is available Sunday through Saturday from 8 a.m. to 11 p.m. EST.

You can reach customer service for the bank at 1-800-655-BANK (2265), or you can navigate to the company's website to find a different phone number for questions related to credit cards, auto financing, and business transactions.

Capital One also offers local support at branches and Capital One Cafes.

FAQs

Can I open both SoFi and Capital One accounts?

You can open both SoFi and Capital One accounts, and there are good reasons to. For example, you may want to open an account with SoFi for member benefits and a Capital One account for your kids. Both come with no monthly fees and plenty of perks, including automated savings options, so there's little downside to opening either or both accounts.

Are my deposits safe at both SoFi and Capital One?

Deposits are safe with both SoFi and Capital One. Both are FDIC-insured.

Does SoFi or Capital One have better budgeting tools?

SoFi offers Relay, which is an app that allows you to view all of your financial accounts in one place and set a budget. The Capital One Mobile app offers some budgeting tools that allow you to monitor where your funds are going, including by monitoring upcoming bills and subscriptions. While Relay is more comprehensive, both can be helpful in taking more control of your finances.

Bottom line

SoFi and Capital One both have some great features with no monthly fees, so it's just a matter of picking which is right for you. If your kids want an account or if you want to visit in-person branches or Capital One Cafes, then Capital One is the obvious choice. If member benefits, like discounted rates on other loans, are more important than in-person support, SoFi is your best bet.

You can't really go wrong with either, so check out our SoFi review or Capital One review to learn more and decide which is right for you.

Learn More

5.0

2025 award winner Best Checking and Savings Combo

High APY of up to 4.30% on Savings (3.60% APY¹¹ with +0.70% APY Boost) for 6 Months on new accounts with eligible direct deposit. Terms Apply.¹²

Paycheck access up to 2 days early with direct deposit⁹

No monthly maintenance or overdraft fees¹

Streamlined savings and savings goals with Vaults

Access to a large ATM network⁵