You can earn a $100 bonus when you switch your direct deposit to SoFi Money.
In order to qualify for the bonus, an Eligible Participant must have $1,000 or more in total qualify Direct Deposit transactions within any consecutive 30-day window during the Promotion Period.
Table of Contents
SoFi Money $100 Direct Deposit Bonus
- Account Type: SoFi Money
- Availability: Nationwide
- Credit Inquiry: Soft Pull
- Credit Card Funding: None
- Opening Deposit: $0
- Direct Deposit Requirement: No
- Monthly Fee: None
- Household Limit: None
- Closing Account Fee: None listed
(Offer Expires 09/30/2021)
SoFi Money Account Summary
- Get paid up to 2 days early
- Earn 0.25% APY
- No-fee Overdraft Coverage
- $100 welcome bonus
- Your money’s insured – Once your money arrives at our partner banks, it is FDIC insured up to $1.5 million.
- You earn cash back rewards – Get up to 15% cash back on everyday expenses when you pay with SoFi Money.
- It’s all on your phone – Deposit checks, get real-time alerts, freeze or unfreeze your card, change your pin, and more—all from your phone
- Save without thinking about it – Organize your money, set savings goals, and save your change with Vaults and Roundups.
- The following describes the terms that apply to participation in the SoFi Money direct deposit promotional program (“Program”) offered by SoFi Securities LLC (“SoFi”).
- Eligible Participants: All new members who join SoFi Money during the Promotion Period and all existing SoFi Members without a prior history of Direct Deposit transactions (“Direct Deposit”) to their SoFi Money account as of the beginning of the Promotion Period are eligible for the Program.
- Promotion Period: The Program will be available from 5/1/21 12:01AM ET to 09/30/21 11:59PM ET.
- Bonus Terms: In order to qualify for the bonus, an Eligible Participant must have $1,000 or more in total qualify Direct Deposit transactions within any consecutive 30-day window during the Promotion Period.
- Qualifying Direct Deposits must be made from the enrolled member’s employer, payroll, or benefits provider via ACH deposit.
- Deposits that are not from an employer (such as check deposits; P2P transfers such as from PayPal or Venmo, etc.; merchant transactions such as from PayPal, Stripe, Square, etc.; and bank ACH transfers not from employers) do not qualify for this promotion.
- This offer cannot be combined with the SoFi Money rate discount on a SoFi loan.
- SoFi will credit members who meet the qualification criteria stated above with a one-time cash bonus of $100 deposited into their SoFi Money account within two weeks of qualification.
- Bonuses are considered miscellaneous income, and may be reportable to the IRS on Form 1099-MISC (or Form 1042-S, if applicable).
- SoFi reserves the right to exclude any Members from participating in the Program for any reason, including suspected fraud, misuse, or if suspicious activities are observed.
- SoFi also reserves the right to stop or make changes to the Program at any time.