Overdraft Coverage is currently unavailable for Samsung Money by SoFi accounts but we are continually updating our products and services to improve our member’s experiences so this may be offered in the future.
In the meantime, Samsung Money by SoFi doesn’t charge any fees for overdrafts. If you write a check with insufficient funds or attempt to withdraw more than your balance, the transaction will simply not go through, and no fee will be charged. While Samsung Money by SoFi usually prevents overdrawing, there may be instances where a negative balance occurs, such as when an initial transaction amount changes (e.g., adding a tip to a meal after the initial charge). Even in these cases, Samsung Money by SoFi will not charge an overdraft fee.