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SoFi Money (2.25% APY) - Limited Time: $100 referral bonus through Sept 23

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SoFi Bank has increased the referral bonus for a short period of time to $100. Referrals still receive $50 after depositing $100, but the referer receives $100! (increased from $50)

https://www.sofi.com/money/

(New members MUST be referred by a current member to receive the $50 bonus. Do not sign up at the link above if you are looking for the bonus. The link is provided just for information purposes.)

Mod note: Reminder that referrals of any kind are not allowed on SD ever. Do NOT ask for or offer any referrals here, including via PM. It's not allowed and can get your account warned or banned Wink

For those on the fence about the bank...
They are now advertising on TV. It is legit. Current APY is 2.0%. The money account is limited to six withdrawals per billing cycle as it is a savings account. ATM card is provided. Your account can be accessed by website or app. There are no fees or early termination fees (if all you are looking for is to get the bonus and cash out). Bonuses post immediately (~1 day) after completing the $100 deposit (Venmo works). However, you need to wait a few days before you can cash out the bonus. There are no limitations on household, so you can refer your significant others if you so desire. There are no fees associated with the bank.

I've been using them for a month now. Decent bank. They also offer an investment vehicle to buy stocks, including buying fractional shares. That also has a bonus system too. Get referred to it, receive $50 in stock after depositing $25 into the investment account.
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Created 09-16-2019 at 06:06 AM by Tokar
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108 Comments

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Joined Sep 2019
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#3
Current SoFi money member here. FYI the current rate is not 2.25%, it is 2.0%. Still a great rate for a checking account with no fees. Being using it for 4 months and gave BoA the boot!
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HIDDEN
09-16-2019 at 07:03 AM
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HIDDEN
09-16-2019 at 07:04 AM
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Joined Dec 2006
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#6
Been using them over 5 years since grad school. $300 referral for loan products at one time plus tons of goodies. Glad to see them expand their products!
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#7
Sofi is legit. I referred a couple coworkers and friends
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Joined Jan 2014
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#8
Could anyone tell me how to generate a referral link for your profile? I've found one link, but it says "Invite friends to apply for a SoFi Personal Loan or Student Loan Refi with your personal link: sofi.com/share/XXXXXXX".

Just didn't want to use the wrong one since it doesn't mention a SoFi money account.
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#9
Compare to Citibank's Accelerated Savings
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#10
Quote from jfk2670
:
Could anyone tell me how to generate a referral link for your profile? I've found one link, but it says "Invite friends to apply for a SoFi Personal Loan or Student Loan Refi with your personal link: sofi.com/share/XXXXXXX".

Just didn't want to use the wrong one since it doesn't mention a SoFi money account.
You are right. There doesn't seem to be a way to get the link directly through the web. You can do one of two things:

1) Get the loan link you have by clicking on your name in the upper right, select membership, get the link, and edit the url to add '/money/' after '/share/' and before the number.
or
2) Install the app and it's supposed to be under the "Money" tab

Paste the edited url in a new window to test it. You'll know you have the right link when you see "Yourname wants you to get $50".

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Joined Oct 2007
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#11
Thanks for the heads up on the referral increase, OP! I just double-checked my SoFi account to be sure, the APY is currently 2.0 (still a great rate compared to other institutions).
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Joined Jan 2014
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#12
Quote from RabbiRebbe
:
You are right. There doesn't seem to be a way to get the link directly through the web. You can do one of two things:

1) Get the loan link you have by clicking on your name in the upper right, select membership, get the link, and edit the url to add '/money/' after '/share/' and before the number.
or
2) Install the app and it's supposed to be under the "Money" tab

Paste the edited url in a new window to test it. You'll know you have the right link when you see "Yourname wants you to get $50".
Thanks for this, the app worked!
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Joined Nov 2010
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#13
Correct me of I am wrong but SOFI isn't a bank...
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#14
OP please correct the deal...SOFI is not a bank.
SoFi Money is a cash management account not a bank account, and is offered by a broker dealer. The SoFi Money account is a brokerage account. Neither SoFi nor its affiliates is a bank.

This is not an offer, or solicitation of any offer to buy or sell any security, investment or other product.
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Joined Nov 2006
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#15
SoFi is legit, it's putting its name on the most expensive NFL stadium ever built for Rams and Chargers.

It's not a bank, SoFi partners with WSFS Bank, which handles the federally regulated lending and deposit side.


Quote from cklein85
:
Current SoFi money member here. FYI the current rate is not 2.25%, it is 2.0%. Still a great rate for a checking account with no fees. Being using it for 4 months and gave BoA the boot!
This thread is for saving account, right?
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