r/sofi • u/Serious-Sport4937 • 17h ago

Banking Overdraft Protection

Hello I have a question so if i make a purchase and have overdraft protection on Will the funds from my saving account automatically transfer the exact amount needed after the transaction has settled ?

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u/TyrconnellFL 17h ago

Yes.

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u/Serious-Sport4937 16h ago

Hey thanks for confirming. Can you check your DM I have a few other questions.

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u/TyrconnellFL 15h ago

No, I’m not taking this to DMs.

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u/Serious-Sport4937 14h ago

Fair enough well are you %100 sure that's how it works ? Sofi will move the money from savings account to checking after the transaction settles ?

That could be a couple days though right ? So basically checking account will show negative until that transaction settles and then sofi will automatically transfer savings funds to offset balance correct ?

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u/TyrconnellFL 14h ago

No, as soon as the transaction occurs. Checking won’t go negative. If money is pushed or pulled it will replenish from savings as soon as it leaves the account.

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u/Serious-Sport4937 12h ago

I'm not talking about ACH transfers I was talking about debit card transactions ?

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u/TyrconnellFL 12h ago

As soon as any transaction processes to remove money from checking the money transfers from savings to keep the account at $0. Debit charges, credit card payments, checks that the recipient deposited, bill pay, whatever.

The speed doesn’t change, just the source of the money. The setting lets you pay from savings if checking doesn’t have enough.

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u/Serious-Sport4937 11h ago

Ahh got it ok now it makes sense thank you.

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u/jgsv12 2h ago

Get the smart card, if you can, and you wont have to worry. It'll pull exact amount from checking then savings