Sofi Money $100 Bonus

SoFi : Sofi Money

Bonus Amount
$100
Account Type
Cash
Available In Your Area?
Yes
Offer Expires In
Bonus Requirements
  1. Open a new SoFi Money account using the link below.
  2. Before the promotion expires on December 31, receive direct deposits totaling $1,000 in a single month.
  3. Bonus will be credited to your account within 2 weeks of meeting the requirements.
Other Details
Hard Credit Pull?
Monthly Fees?
Open Online?
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SoFi is offering new and existing SoFi Money customers a $100 bonus. You'll need to set up direct deposit, but you'll have until the promo ends to complete one.

It's not the largest bonus we've seen for sure, but it's available nationwide and you can open the account online, so it may still be worthwhile.

How To Earn The Bonus

The Sofi Money promotion requires you to set up direct deposits in order to earn the $100 bonus. Full requirements to receive this bonus are:

  1. Open a new SoFi Money account using the link below.
  2. Before the promotion expires on December 31, receive direct deposits totaling $1,000 in a single month.
  3. Bonus will be credited to your account within 2 weeks of meeting the requirements.

The fine print

  • New SoFi Money members who open their account within the enrollment period are automatically enrolled in the Program with the account open date acting as the effective enrollment date.
  • Existing members without a prior history of Direct Deposit transactions (“Direct Deposit”) are automatically enrolled in the Program at the start of the enrollment 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.
  • SoFi reserves the right to exclude any Members from participating in the promotional 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 promotional program at any time.

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, an investment platform, and a cash management account.

The neobank has low 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 Money

SoFi Money is a cash management account that offers an above-average (though still not great) interest rate and no monthly fee. Keep in mind that you'll need to deposit at least $500 each month to qualify for the interest.

The account has several cool features.

First, it's essentially an "all-in-one" account, allowing you to use it as both a checking and savings account. In this single account, your savings are separated into "vaults", which allow you to save for different goals. You can have as many as 20 vaults.

Second, the account features an automated savings roundup, which automatically rounds your debit card purchases to the nearest dollar and puts the difference into one of your saving vaults.

Lastly, since SoFi isn't a bank itself and instead partners with 6 banks, your account is FDIC-insured for up to $1.5M. To accomplish this, SoFi automatically splits your cash to multiple partners as you max out the $250k limit. To you, however, your funds will still appear to be conveniently pooled into a single account.

Fees

Sofi Money does not charge a monthly fee.