SoFi enables instant transfers
SoFi launched instant transfers via Galileo and FedNow to enable 24/7 banking between accounts, a feature the company said customers have long requested. (x.com) The capability removes time‑of‑day limits on transfers and plugs SoFi into the FedNow rails for immediate settlement. (x.com)
SoFi has started letting customers move money to and from outside bank accounts in seconds, using the Federal Reserve’s FedNow network and Galileo’s payments technology. (galileo-ft.com) Galileo said on April 9, 2026 that SoFi, N.A. now offers instant bank transfers between SoFi accounts and accounts at other United States banks at any hour, including weekends and holidays. (galileo-ft.com) The service runs on FedNow, the Federal Reserve’s instant-payments rail, which operates 24 hours a day, 7 days a week, 365 days a year and settles payments individually instead of in batches. (federalreserve.gov) That changes the timing of a common bank task: standard Automated Clearing House transfers often move on bank schedules, while FedNow is built for immediate settlement between participating institutions. (frbservices.org) SoFi said customers had been asking for faster transfers, and Galileo said the new setup removes time-of-day cutoffs that usually delay money moving between banks. (finance.yahoo.com) Galileo also said most banks using FedNow today only support incoming payments, while SoFi is offering both send and receive functions for its members. (digitaltransactions.net) The plumbing matters because SoFi owns Galileo, a financial-technology platform that provides payment and account infrastructure to banks and fintech companies. In this launch, Galileo is handling the connection to FedNow and the controls around the transfers. (galileo-ft.com) FedNow itself does not serve consumers directly; the Federal Reserve says banks and credit unions decide whether to offer the service and how customers can use it. (federalreserve.gov) For SoFi customers, the practical change is simple: a transfer started on a Sunday night can now arrive in seconds if the other bank can send or receive through FedNow. (galileo-ft.com) SoFi is using a Federal Reserve payment rail to make ordinary bank-to-bank transfers behave more like card payments or cash movement: always on, and settled right away. (federalreserve.gov)
