SoFi Invest

What you will be able to do with this connection

This connection setup enables two features:

1. Route money into your account (also called “pushing” funds).

   1. In this case, you will push to a SoFi savings or checking account and manage investment funds inside the SoFi ecosystem.

   According to Sofi “Get buying power instantly when you transfer from your SoFi Checking or Savings account!”

2. Transfer funds from a pod to SoFi Invest (also called “pulling” funds).

⚠️ SoFi Invest accounts do not have routing and account numbers. This implies that:
         1. Transfer of funds cannot be made to a SoFi Invest account directly inside of Sequence.
         2. Balances of SoFi Invest accounts are not visible via Sequence. Even though accounts are
discoverable and addable via Plaid, balances are not visible on a Sequence money map since they lack routing and account numbers.

Requirements to Connect

• You have an account with SoFi Invest
  • If you wish to push funds, you must have a SoFi checking account or a SoFi savings account.
• You have a Sequence account.
• You will need whatever device you use Sequence on - desktop or laptop.
• You may encounter some Multi-Factor Authentication (MFA). So, may need 1 or more of:
  • Whatever device you receive text messages on
  • Whatever device you use to access the SoFi Mobile app
  • Whatever device you use to access your preferred authenticator app

Connection Instructions

Currently, investment accounts are discoverable via Plaid. Therefore, investment accounts can be added to Sequence via Plaid, resulting in the visibility of account balances. However, no routing or account numbers are available for SoFi Invest's accounts, which means you cannot directly route to accounts at SoFi Invest. Below, we present the 2 alternative methods—the push and the pull—for maximum convenience.

If you’ve previously added a pod to your Sequence money map, you should be able to run through that section fairly quickly.

Some steps can be completed via SoFi's browser interface or mobile app. Instructions for both are below.

The Pull Method: Using an EFT at SoFi Invest

If you’ve used an EFT (electronic funds transfer) to transfer money from a bank account to SoFi Invest, this process will be familiar. If this is your first EFT setup at SoFi Invest, then you’ll find this guide helpful.

The below method has 2 overall tasks:

1. Create a pod in your Sequence money map.
2. Add the pod created in task 1 to SoFi Invest’s list of eligible EFT sources.

💡 Use Sequence rules to fill your investment pod. Then, use SoFi Invest’s frequency-based recurring transfers to pull funds from your Sequence pod automatically.

Task 1: Create a pod in your Sequence money map

1. Click this link to navigate to the Sequence login page.

2. On the bottom center of your money map click the Add Pod button.

3. Give your pod a name and select a Beneficiary from the dropdown menu.

4. You should now have your newly created pod visible as a node in your Sequence money map.

5. Click on your pod to open the slide out drawer containing the details view.

6. You should see a routing number and account number for the pod. You will need these for the next task.
   

Task 2: Add your pod to SoFi Invest’s list of eligible EFT sources

There are two methods for adding your pod to SoFi Invest]:

• SoFi Invest’s desktop browser app

  1. Use your preferred browser to navigate to SoFi.

  2. Click the Log In link in the upper right and complete the log in process.

  3. You should be on the Home tab.

  4. On the upper navbar, click on the Invest tab.

     

  5. On the Invest page, to the right of your total balance, click the Add cash icon.

     

  6. At the bottom of the “How much would you like to add?” page, click on the button labeled “Additional transfer options.”

     

  7. If you have other accounts connected in the SoFi ecosystem but not yet permissioned, they will be listed here. If your desired pod is listed, you may select it to complete the connection. Otherwise, click the “View other transfer options” link at the bottom of the list.

  8. Select the radio button for “Connect a bank” and click Next. This should start a Plaid workflow.

  9. Continue working through the Plaid workflow, selecting Sequence as your bank.

  10. When you see the list of accounts, select the pod you created in Task 1 and click Continue.

  11. You may see the warning below at some point. If you do, according to SoFi, “Your deposit will not be processed until your bank can be verified.”

      

      1. Reach out to Sequence customer service at hello@sequence.io for an account verification letter.
      2. Once you have received your account verification letter, click on “Upload now.”
      3. Follow the on-screen directions to submit your account verification letter.
      4. Also submit a pod account statement available by going to Account ➡️ Settings ➡️ Statements on the Sequence app.

  12. Once your account is connected via Plaid and verified, you should now be able to pull funds from your pod to SoFi via an EFT.

  13. To set up an EFT contribution to your SoFi Invest account in a few easy steps, click the link below while logged in to go to the 'Deposits' page: https://www.sofi.com/wealth/app/deposit

  14. Set the frequency, select the source bank account, and confirm the Invest account.

  15. Click “Review,” then “Confirm.”

• SoFi Invest’s mobile app

  1. On your mobile device, open the SoFi App and log in. You should be on the Home screen.

  2. On the bottom navbar, select “Invest.”

     

  3. From the “Invest” screen, tap on the Trade button.

     

  4. From the list of options that appear, select “Add cash.”

     

  5. The “Add cash” screen should appear.

  6. Tap on the From account to select from a list of accounts.

  7. If your pod is already an available option, you may select it and move to step 8. Otherwise, tap “+ Link new account” and follow the prompts to add your pod created in Task 1.

     

  8. Once your pod is selected in the From list, tap the Done button.

  9. Repeat the selection process for the To account, selecting your desired investment account.

  10. Use the provided numpad to enter the amount you wish to transfer and select the frequency for the transfer.

  11. Tap the Review button.

  12. On the Review screen, if everything is correct, use the slider labeled “Slide to add cash” to complete the transfer. Otherwise, if you need to edit, simply tap the back arrow in the upper left to go back one screen.

      

The Push Method: Using Sequence to route money to SoFi checking/savings

In this method, we’ll use Sequence to route money to a SoFi savings/checking account. Once funds are inside a SoFi banking account, we will set up an automated transfer to a SoFi Invest account. There are several options for automations inside the SoFi ecosystem, each with its own benefits and limitations.

The below method has three overall tasks:

1. Add your SoFi checking/savings account to your Sequence money map.
2. Create rules in Sequence to route money to SoFi.
3. Automate routing of funds inside the SoFi ecosystem.
   • Sofi has two primary options to do this:
     • Frequency-based transfers [Active and Automatic Invest accounts]
     • AutoPilot [Automatic Invest accounts only]

Task 1: Add your SoFi depository account to Sequence

You may skip this task if your SoFi depository account is already added to Sequence.

In the example below, we will add a SoFi savings account to take advantage of SoFi’s interest rates on savings accounts.

1. Click this link to navigate to the Sequence login page. Complete the login process.

2. On the bottom center of your money map, click the Add Account button.

3. Select the Beneficiary and then click on “Depository account.”

4. SoFi should appear as selectable by default. Click SoFi.

5. You should now be in a Plaid workflow. Click the Continue button.

6. Continue working through the Plaid workflow. When you get to the institution selection, select SoFi. If Sofi does not appear, you can use the search bar.

7. When prompted, sign in using your SoFi credentials. Verify your identity as necessary.

8. You should reach a point where Plaid displays a list of your SoFi bank accounts. Select the account(s) you would like to connect.

   

   Specific account numbers have been blurred for security purposes.

9. Click Continue and let Plaid do its connection magic 🪄.

Task 2: Create rule(s) in Sequence

In this task, we will create an example rule using Sequence. This example uses a simple port-to-savings account rule. Rules can also be created to run from a pod or external account. Your rule(s) will be unique to your financial goals.

1. Make sure you have both a port and your desired SoFi bank account included in your Sequence money map.

   

2. Click on your port and drag a line from the plus sign (+) at the bottom of the port node to your SoFi account node. This will trigger the rule workflow.

3. In this example, we will select a “Triggered by incoming funds rule.”

4. The “Incoming funds rule” details view will slide out from the side of your screen.

5. This example does not employ any condition(s). You may add them to your rule as you see fit.

6. The action on this rule is set to Transfer percentage of incoming funds of 10% to SoFi Savings. Again, the rules you choose may be different in order to meet your financial goals.

   

7. Click the Save button to save the rule to your Sequence money map.

Task 3: Automate in the SoFi ecosystem

There are multiple ways to automate the movement of funds inside the SoFi financial ecosystem. SoFi’s automated transfers will always be frequency-based (monthly on a given day of the month) or use SoFi’s AutoPilot (per direct deposit automation). In this how-to guide, we will demo both options, but be aware that account type (Active vs. Automated) will limit which automation features are available.

 🗒️ Sofi’s Autopilot, which can be leveraged for automating where direct deposit funds are sent, is only usable with an Automatic investment account.

• SoFi Invest account types

  SoFi offers two types, or categories, of Invest accounts:

  1. An 'Active Investing' account, where you can pick and choose what stocks, ETFs, Options, Mutual Funds, and Alternative Funds you would like to purchase.
  2. An 'Automated Investing' account with SoFi automatically invests the funds you deposit based on the type of portfolio you would like to have.

  For each type, SoFi offers both retirement and non-retirement accounts:

  • Non-retirement account types include:
    • Individual/Personal Investment accounts
    • Joint Accounts with Rights of Survivorship (JTWROS)
    • Community Property (limited to members of certain states)
    • Tenants by Entirety (limited to members of certain states).
  • Retirement Account types include:
    • Traditional IRA
    • Roth IRA
    • SEP IRA
    • Traditional Rollover IRA

  Please note - A SoFi member may only have one 'Individual/Personal Active Investment' account open at a time. Also, joint accounts are NOT eligible for 'Active Investment" accounts.

  Stock Market Investing for Beginners | SoFi

Depending on the SoFi automation features you implement, this can be the longest part of the process. It looks longer than it is because we’ve detailed every click for you. So grab your favorite beverage, relax, follow the guide, and become your own personal CFO.

Active SoFi Invest Account(s)

There is one automation feature at SoFi for Active investing accounts. Below, we detail two methods of implementation:

• SoFi Savings & SoFi Invest via desktop browser apps

  1. Use your preferred browser to log in to SoFi.

  2. You should be on your Home tab.

  3. On the top navbar, click on the Invest tab.

     

  4. On the Invest overview, below the time-series line chart showing your account value, you should see one card per investment account.

  5. Select an Active Investing account by clicking on the View Account link.

     

  6. In the upper right, click on the Add cash button.

     

  7. On the “How much would you like to add?” screen, you can select the amount, frequency, From account (SoFi savings), and To account.

  8. If you do not see your Sofi savings account, click the “Additional transfer options” button.

     1. This should take you to the “Connect a bank account to SoFi Invest.” screen, where you can authorize an account already connected to the SoFi ecosystem.

     

  9. Once you have the correct options for your frequency transfer, click the Review button.

  10. If everything looks correct, click “Add money.” If not, click Back and edit as necessary.

   ✅ This should complete Task 3 for an Active Sofi Invest account.

   

• SoFi Savings & SoFi Invest via the SoFi mobile app

  1. On your mobile device, open the SoFi App and log in. You should be on the Home screen.

  2. On the bottom navbar, select “Invest.”

     

  3. Below your total account value, you should see a card view of accounts. Tap on the Active Invest account to which you wish to transfer funds.

     

  4. Tap on the Trade button.

     

  5. From the list of options that appear, select “Add cash.”

     

  6. The “Add cash” screen should appear.

  7. Tap on the From account to select from a list of accounts.

  8. If your savings account is already an available option, you may select it and move to step 9. Otherwise, tap “+ Link new account” and follow the prompts to add your savings account from Task 1.

     

  9. Once your savings account is selected in the From list, tap the Done button.

  10. Repeat the selection process for the To account, selecting your desired investment account.

  11. Use the provided numpad to enter the amount you wish to transfer and select the frequency for the transfer.

  12. Tap the Review button.

  13. On the Review screen, if everything is correct, use the slider labeled “Slide to add cash” to complete the transfer. Otherwise, if you need to edit, simply tap the back arrow in the upper left to go back one screen.

      

   ✅ This should complete Task 3 for an Active Sofi Invest account.

   

Automated SoFi Invest Account(s)

There are two automation features at SoFi for Automated investing accounts. Below, we detail two methods of implementation for each:

• Feature 1: Automatic Frequency Based Transfers

  • SoFi Savings & SoFi Invest via desktop browser apps

    1. Use your preferred browser to log in to SoFi.

    2. You should be on your Home tab.

    3. On the top navbar, click on the Invest tab.

       

    4. On the Invest overview, below the time-series line chart showing your account value, you should see one card per investment account.

    5. Select an Active Investing account by clicking on the View Account link.

       

    6. In the upper right, click on the Add cash button.

       

    7. On the “How much would you like to add?” screen, you can select the amount, frequency, From account (SoFi savings), and To account.

    8. If you do not see your Sofi savings account, click the “Additional transfer options” button.

       1. This should take you to the “Connect a bank account to SoFi Invest.” screen, where you can authorize an account already connected to the SoFi ecosystem.

       

    9. Once you have the correct options for your frequency transfer, click the Review button.

    10. If everything looks correct, click “Add money.” If not, click Back and edit as necessary.

     ✅ This should complete Task 3 for an Active Sofi Invest account.

     

  • SoFi Savings & SoFi Invest via the SoFi mobile app

    1. On your mobile device, open the SoFi App and log in. You should be on the Home screen.

    2. On the bottom navbar, select “Invest.”

       

    3. Below your total account value, you should see a card view of accounts. Tap on the Automated Invest account to which you wish to transfer funds.

       

    4. Tap on the Trade button.

       

    5. From the list of options that appear, select “Add cash.”

       

    6. The “Add cash” screen should appear.

    7. Tap on the From account to select from a list of accounts.

    8. If your savings account is already an available option, you may select it and move to step 9. Otherwise, tap “+ Link new account” and follow the prompts to add your savings account from Task 1.

       

    9. Once your savings account is selected in the From list, tap the Done button.

    10. Repeat the selection process for the To account, selecting your desired investment account.

    11. Use the provided numpad to enter the amount you wish to transfer and select the frequency for the transfer.

    12. Tap the Review button.

    13. On the Review screen, if everything is correct, use the slider labeled “Slide to add cash” to complete the transfer. Otherwise, if you need to edit, simply tap the back arrow in the upper left to go back one screen.

        

     ✅ This should complete Task 3 for an Active Sofi Invest account.

     

• Feature 2: Direct Deposit Automation with AutoPilot

  • SoFi AutoPilot via desktop browser apps

    1. Use your preferred browser to log in to SoFi.

    2. Once you are logged in to SoFi, you can get to the AutoPilot Hub using this link.

    3. Alternatively, after logging in you should be on your Home tab.

       1. On the top navbar, click on the Banking tab.

          

       2. Then on the right side Click the AutoPilot link.

          

    4. Click “Add new” on the Invest card.

       

    5. On the “Invest when you get paid” page, select the radio button for your desired Automated account.

       💡 If you do not have an Automated investing account, click “New automated investing account” and follow the workflow to create one.

    6. Click Next to continue.

    7. On the next screen, set the amount (or percentage) per direct deposit and the From account (where the direct deposit will be made).

       

       Specific account numbers have been blurred for security purposes.

    8. Click the Review button.

    9. On the next screen, review your choices, and if everything looks correct, click the Confirm button.

        ✅ This should complete Task 3 for an Automated Sofi Invest account.

        

  • SoFi Savings & SoFi Invest via the SoFi mobile app

    1. On your mobile device, open the SoFi App and log in. You should be on the Home screen.

    2. On the bottom navbar, select “Banking.”
       

    3. Tap on the AutoPilot icon.

       

    4. On the AutoPilot screen, under the Invest heading tap on “Add a new recurring investment.”

       

    5. On the “Invest when you get paid” screen, select the radio button for your desired Automated account.

       

       💡 If you do not have an Automated investing account, click “New automated investing account” and follow the workflow to create one.

    6. Click Next to continue.

    7. On the next screen, set the amount (or percentage) per direct deposit and the From account (where the direct deposit will be made).

       

    8. On the next screen, review your choices, and if everything looks correct, click the slide to confirm.

       

       ✅ This should complete Task 3 for an Automated Sofi Invest account.

        

Testing

If you would like to test your connection, you can go to your Sequence Activity Log and run a manual transfer by clicking on the “Transfer Manually” button located in the upper right of the Activity Log screen.

⚡ For faster manual transfers use money already in a pod. Transfers from pods to external accounts are 2x faster than transfers from external accounts to external accounts.