SoFi launches Early Access Payments on May 4

Pay On 4¹ is SoFi’s latest innovation designed to provide our members flexibility when spending with SoFi Checking and Savings². With Pay in 4, SoFi members will now have another way to pay for larger travel or pick-ups Purchases from local small businesses to major retailers, anywhere Mastercard is accepted. Early access is rolling out to select SoFi members in the coming weeks.

What is Pay At 4?

Pay in 4 offers members the option to split a purchase of between $50 and $500 into four interest-free payments. This new feature is designed to provide members with another way to pay when it comes to purchases, providing flexibility in budgets for planned and larger purchases, without paying any interest. SoFi is the first bank to launch under Mastercard’s installment program. Pay at 4 allows SoFi members to make purchases at merchants across the country, supporting secure and flexible payments instantly at checkout, whether in store or online.

Everything we do at SoFi is geared towards helping people get their money right, and our new Pay at 4 offering is the next iteration of that. By allowing people more flexibility in how they pay for large purchases, we give members the freedom to manage their money in the way that best suits their needs.

How does Pay at 4 work?

With Pay in 4, eligible members receive a single-use digital Mastercard [SJ4] To buy from $50 to $500. It could be the digital card Used as normal during the online or in-store checkout process, providing members with flexibility, familiarity and Mastercard Zero Liability protection to cover fraudulent transactions. The first payment is due to SoFi at the time of purchase and may be seamlessly withdrawn from the member’s SoFi checking account, making it easy to manage payments in one central location. Each remaining payment is due every two weeks

Designed to help members distribute payments for large purchases, SoFi’s Pay in 4 can be used on flights, hotels, electronics, apparel, home improvement or at other retailers from local businesses to national chain stores.

Pay on 4 cannot be used for everyday purchases such as groceries, restaurants/bars, and gas stations, among other categories. Members must also pay off their 4 payment loans in full to be eligible for another loan. Each of these restrictions is designed to ensure that the feature is used to create healthy spending habits, rather than perpetuate a debt cycle.

SoFi Pay in 4 is designed to make it as simple and easy as possible for members to responsibly manage their money every step of the way. For example, members will be required to set up Autopay directly from their SoFi checking account to make it easier for members to stay on track.

Who is Eligible for SoFi Pay on the 4th?

To be eligible for Pay in 4 during Early and Public Access, members must maintain an eligible direct deposit into a SoFi Checking & Savings account, pass a flexible credit check (which does not affect credit scores), as well as meet SoFi’s higher risk requirements. [SJ6] SoFi will only consider selected members to ensure that members using Pay in 4 are financially sound, and members will only be approved for an amount SoFi knows members can pay based on their deposit history.

Once members receive the offer of approval, they will have 30 days to use the Pay at 4 Mastercard.

How do I know if I have early access to pay at 4?

Eligible members will see a Pay 4 offer within the Online Banking section or tab within the app where they will see a Pay 4 offer.

When the member goes through the activation process, they will see how much they are eligible for, from $50 to $500, based on their credit and monthly deposits.

How can I include payment in the 4 purchases that best fit into my budget?

SoFi is committed to helping members better manage their money responsibly, especially when people are navigating inflation and holiday shopping. SoFi recently launchedon the money‘, a new digital content hub designed to help anyone and everyone better manage their finances. The new site has a comprehensive catalog of articles on how best to manage your money to achieve your goals.

For those looking to dig deeper into their finances, SoFi offers all members free access to Financial consultants To receive personalized financial advice to help them get their money right.

Not a SoFi Check & Saving member yet? subscription here!


1- The Pay in 4 offer is valid only for customers who receive the offer directly from SoFi and using the link provided in the email received by the account holder(s). Pay-in-4 offers are non-transferable. Eligible members will receive a one-time use virtual card with down payment due at time of purchase. be seen Terms and Conditions to payment terms and schedule.

Members are only eligible for 1 active loan in 4 loans at a time, which must be paid in full before the member is eligible for the next payment in 4 loans. Exceptions may apply. See Terms and Conditions for details. Pay in 4 Loans from SoFi Bank, NA

2. SoFi checking and savings is offered through SoFi Bank, NA The SoFi® Bank Debit Mastercard® is issued by Bancorp pursuant to a license from Mastercard International Incorporated and may be used anywhere Mastercard is accepted. Mastercard is a registered trademark, and the circuit design is a trademark of Mastercard International Incorporated.

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