SoFi is offering customers a cash bonus to move your portfolio over to SoFi. The bonus is tiered, and you'll need to transfer $5 million in assets to earn the full $10,000 (steep!), but the bonus starts at $100 for transferring $5,000.
Keep in mind that although SoFi will pay out the bonus within 14 business days of the end of the promo period, they'll claw it back if you withdraw those funds within 180 days. They'll even refund up to $75 in ACAT fees from your other brokerage!
How To Earn The Bonus
The Sofi Invest promotion requires you to deposit and maintain a minimum balance in order to earn the up to $10000 bonus (step-by-step breakdown is listed above!).
As with any offer, don't forget to read the fine print before opening your new account. It's where the bank will clearly state who is eligible for the deal along with any nuances you'll want to be aware of.
The fine print
- Investments must be transferred into a taxable SoFi Invest Active Brokerage or Active retirement account (Traditional, Roth, or SEP IRA).
- Bonus amounts are based on the one-time total dollar amount you transfer during the incentive period.
- Assets are required to remain in your SoFi account for 180 days following the conclusion of the offer period. SoFi reserves the right to recoup up to the bonus amount from any withdrawals that take place prior to the 180-day period.
- SoFi does not accept mutual funds, cryptocurrency transfers, or stocks that trade on OTC, Pink Sheets, and/or most low-priced securities. These would need to be liquidated prior to initiating an ACAT with SoFi.
- If you transfer a brokerage account with total asset value over $5,000 through the ACAT system, SoFi will reimburse up to $75 of ACAT Fees from your outgoing brokerage firm.
Open a Sofi Invest account before the bonus expires
How does this investment offer from SoFi compare?
To help you determine how this bonus stacks against the rest, here are some of the most popular offers available right now:
J.P. Morgan
Self-Directed Investing
- Bonus
- up to $700
- Account Type
- Investment
- Expires In
- 36 days
- Requires
- Min Balance
Tradestation
Brokerage Account
- Bonus
- up to $3500
- Account Type
- Investment
- Expires In
- Limited Time
- Requires
- Min Balance
Why SoFi?
Social Finance Inc., most commonly known as SoFi, is an online personal finance company out of San Francisco.
SoFi is best known for offering competitive student loan refinancing rates. The growing fintech firm now offers financial products like personal loans, credit cards, and an investment platform.
The neobank has no account fees, above-average interest rates, a highly rated mobile app, and an ATM network that provides free access to more than 55,000 ATMs.
Sofi Invest
Fees
Sofi Invest does not charge a monthly maintenance fee.
Apply now for a Sofi Invest account to earn the up to $10000 bonus offer
Additional Disclosures:
- New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus when they set up Direct Deposit of at least $1,000 during the Direct Deposit Bonus Period. Cash bonus will be based on the total amount of Direct Deposit. Direct Deposit Promotion begins on 01/01/2023 and will be available through 12/31/23. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.
- SoFi members with Direct Deposit can earn 4.60% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the 4.60% APY for savings (including Vaults). Members without Direct Deposit will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 8/2/2023. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.
- We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees incurred when using out-of-network ATMs are not subject to reimbursement. SoFi’s ATM policies are subject to change at our discretion at any time.
Share Your Thoughts or Questions
There have been 5 comments about the Sofi Invest up to $10000 Bonus.
Richard
February 6How can I access this SOFI Invest offer information on the SOFI website? The site has a teaser page providing the range of the bonus, but no details. It looks like I would have to start the application process to see the details. Should be more transparent unless I'm missing something about seeing the details.
ReplyReply to Richard
kat
November 14, 2023That's awesome that they reimburse the fees! Steep investment for kind of a piddly reward but hey, cash is cash.
ReplyReply to kat
Doug
November 14, 2023SoFi is always quick to pay, and it is easy to move money internally between SoFi checking, savings, and investment accounts, as well as to external accounts. Plus, there's little opportunity cost to doing this one because you can invest the money (as opposed to savings and business checking bonus where money just sits earning close to 0%).
ReplyReply to Doug
Sean Q
November 11, 2023Simple and quick! ACAT reimbursement in 5 days and bonus within 1 month of opening.
Recommend for decent app interface, investment news aggregation, and other events on personal finance.
Reply to Sean Q
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