Does SoFi Offer an Estate Account?
SoFi does not open estate accounts. What its published terms say, and where the estate's account can be opened instead.
Estate accounts at SoFi
What to know at SoFi
SoFi Bank does not open estate accounts. The SoFi Bank Deposit Account Agreement (effective June 23, 2026) limits account ownership to one person individually or two persons jointly, restricts accounts to personal, family, or household purposes, and affirmatively prohibits titling an account in the name of a fiduciary or estate. SoFi has no physical branches; an executor needing an estate account must open it at another institution. Funds claimed from a deceased SoFi customer's accounts are disbursed to the estate's account held elsewhere (see deathClaimProcess).
This guide summarizes each bank's published estate-account requirements and is not legal or banking advice. Requirements may vary by state and account type.
Frequently Asked Questions
No. SoFi's published terms do not allow an account titled to an estate.
At any bank that offers estate accounts. The account belongs to the estate, not to the deceased, so it does not need to be where the deceased banked.
An estate account is a bank account titled to the estate itself — not to the person who died and not to the executor personally. The court-appointed executor or administrator opens it to deposit money owed to the estate (final paychecks, refunds, proceeds from closed accounts), pay the estate's debts and expenses, and distribute what remains. Checks made out to "the Estate of" can only be deposited into an account titled this way.
The estate is its own taxpayer, separate from the person who died. Banks open estate accounts under the estate's Employer Identification Number (EIN) from the IRS, not the deceased's Social Security Number. The free EIN application prepares IRS Form SS-4 for the estate.
Sources
Data sourced from SoFi primary sources (2 pages reviewed). How we research.
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