Earn more on your money with 1.25% APY and up to a $300 bonus when you direct deposit into a SoFi Checking and Savings account. Plus, pay no account or overdraft fees, get 2-day-early-paycheck, and more.
In order to qualify for the bonus, an Eligible Participant must have $1,000 or more in total qualifying Direct Deposit transactions within any consecutive 30-day window during the Promotion Period.
|Total Qualifying Direct Deposit Amount||Cash Bonus|
|$1,000 – $1,999||$50|
|$5,000 or more||$300|
Table of Contents
SoFi Checking & Savings $300 Direct Deposit Bonus
- Account Type: SoFi Checking & Savings
- Availability: Nationwide
- Credit Inquiry: Soft Pull
- Credit Card Funding: None
- Monthly Fee: None
- Household Limit: None
- Closing Account Fee: None listed
(Learn more at SoFi)
SoFi Checking & Savings Account Summary
- Earn up to 1.25% APY
- Say goodbye to bank fees: The average American paid $53.79 in bank fees in 2020. We don’t believe in fees, so with SoFi there’s no overdraft fees, no minimum balance fees, and no monthly fees. Plus, 55,000+ fee-free ATMs with Allpoint.
- FDIC insured: Breathe easy knowing your funds are insured up to $250K. (Joint accounts receive $500K in total insurance.)
- 2-day Early Paycheck: Feel the magic of pay day up to two days early – automatically – when you set up direct deposit.
- Cash back, close to home: Get up to 15% cash back at local establishments when you pay with your SoFi debit card.
- Automatic savings features: Organize your money, set savings goals, and save your spare change with Vaults and Roundups.
- No fee Overdraft Coverage: Overspent by accident? No problem. You’ll be covered up to $50 with no fees with qualifying direct deposits.
- Eligible Participants: All new members who join SoFi Checking and Savings, SoFi Money, or Samsung Money by SoFi during the Promotion Period and all existing SoFi Members without a prior history of Direct Deposit transactions (“Direct Deposit”) to their SoFi Checking and Savings, SoFi Money, or Samsung Money by SoFi account as of the beginning of the Promotion Period are eligible for the Program.
- Promotion Period: The Program will be available from 2/24/22 12:01AM ET to 4/30/22 11:59PM ET.
- Bonus Terms: In order to qualify for the bonus, an Eligible Participant must have $1,000 or more in total qualifying 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 Checking and Savings / 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 $300 deposited into their SoFi Checking and Savings, SoFi Money, or Samsung Money by SoFi 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.