Your Rapid Access Prepaid Mastercard ®
Frequently Asked Questions
The Rapid Access Card gives you a way to access your LOC funds in near real-time. No more waiting for ACH processing or until your bank re-opens after the weekend since you can use your funds the same day you make your draw. It’s that simple.
Clients that have provided information and attested the beneficial ownership (where required) and have a Business Line of Credit opened on or after October 25, 2024 are eligible to get a card automatically. Eligible clients will automatically receive a Rapid Access Card† via USPS within 5-7 business days of establishing their Line of Credit account, mailed to the primary business address on file.
A Rapid Access Card is a contactless chip card allowing you to tap your Card against a reader, in addition to inserting or swiping your Card.
- For purchases, just tap your Card where you see the Contactless Symbol4 – it’s easy and faster than inserting or swiping your Card. But you can also just insert or swipe your Card. You can also use it as Debit and enter your PIN.
The chip provides added security when used at a chip-enabled merchant terminal. When you insert your Card into a chip-enabled terminal, or when you tap your debit card at a merchant terminal, a unique security code is generated. This makes it extremely difficult for anyone to reuse your information and better protects you against counterfeit card fraud.
If a merchant has not yet adopted chip technology, your transaction will be processed using the magnetic stripe.
Features and Fees
There are no additional fees other than those listed below that are associated with using the Card. However, the fees outlined in your LOC agreement including the Draw Fee, still apply.
Description | Fees |
Over the counter withdrawal fee (Fee charged only when you withdraw cash at a counter) | 2% per transaction |
Replacement Card Fee | $25 |
Expedite Fee | $10 |
Please refer to the Card terms and conditions for further details
At this time your Credit Limit does not change when you sign up for the Rapid Access Card.
Managing your Card
Expect to receive your Rapid Access Card within 7 to 10 days from the time you request the Card. Once you receive your Card, please activate it by calling the phone number listed in your Card package.
Once your Card is active, it is ready to be loaded with funds from your LOC. To load funds onto your Card, please log in to your Rapid Client Portal account and draw funds from your LOC onto your Card.
Activate your Rapid Access Card by calling 866-432-7689. Please have your Card on hand to activate it.
Yes, each time you make a draw from your Rapid LOC you may designate if the funds should be deposited to your Rapid Access Card or to your business checking account.
Call the number on the back of your Card to speak with a representative and create a new PIN.
Create or change your PIN by calling 1-866-432-7689. New and updated PINs may be used immediately after they have been successfully changed.
If your Card was lost or stolen or if you notice an unauthorized transaction, please call Rapid Access Card Customer Service immediately at 1-866-432-7689 to speak with an agent who can assist you. Customer Service agents are available to answer your calls:
Monday through Friday, 5:00 a.m. to 11:00 p.m. MT
Saturday and Sunday, 6:00 a.m. to 6:00 p.m. MT (holidays excluded).
If your Card is missing but there are no unauthorized transactions on your Card, access the self-serve voice response system to request a replacement Card.
If you misplace your Card, please call 1-866-432-7689 to protect it from unauthorized use. You may place a temporary block on new charges by selecting the ‘Freeze Card’ option from the voice response menu (Press 3). Locking the Card will prevent new card withdrawals or purchases. Recurring transactions, returns, and credit adjustments will still be allowed with the Card. Call 1-866-432-7689 to unlock your Card at any time.
If you are unable to locate your Card, you may request a replacement card using the self-serve voice response system or by speaking with an agent.
Purchases, payments, and transactions
When you make a purchase, merchants such as hotels and restaurants may request an authorization for an estimated amount that may vary from the actual purchase amount. Merchants such as gas stations may instead request an authorization to confirm your Card is open and active. In either case the authorized amount will reduce your Card’s available balance but within five business days will be replaced with the actual purchase amount and your available balance will once again be accurate.
No, your Card may not be used to make cash withdrawals at an ATM. To add funds to your Card you must draw funds from your LOC, and deposits to the Card cannot be made using an ATM.
Yes, there are transaction limits for the Card. View the transaction limits (limits per transaction that you do) daily limits (overall limits per day) associated with your Card in your Card terms and conditions that you can access at Rapid Client Portal (secure login required).
Daily limits reset each day at 12:00 midnight ET. Daily limits are subject to the Available Balance in your Card account.
There are a number of reasons why your transaction may be declined, including: insufficient funds on your Card, exceeding the Card’s daily limit, suspicious Card activity, or the Card being inactive or restricted. For additional questions on your Card, including reviewing your daily limit and card status, log into your Rapid Client Portal account.
For support at any time, call Rapid Access Card Customer Service using the number located on the back of your Card, or 1-866-432-7689, and a representative will assist you.
† Rapid Access Prepaid Mastercard® is linked to Rapid Finance Business Line of Credit account and subject to approval and availability to eligible customers that are in good standing. The Rapid Finance Business Line of Credit is not a SoFi Bank product or service. All loans are funded and originated by Rapid Finance and are not affiliated with SoFi Bank. Additional terms and conditions may apply. The Rapid Access Prepaid Mastercard is issued by SoFi Bank, N.A. Member FDIC, pursuant to license by Mastercard International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated. Notify us immediately at 866-432-7689 if your card is lost or stolen.