Forum Thread

Sofi Bank - 1% match when you fund your investment acccount up to $5k (YMMV)

+2 Deal Score
3,574 Views
Got an email.

This month only, when you fund your SoFi Invest account, we'll match 1% of your deposit.

Get up to $5,000 when you fund your SoFi Active Invest account.* SoFi will match 1% of net deposits by June 30, 2020, with a maximum bonus up to $5,000. In other words—if you make a $15,000 deposit, we'll give you $150.

https://www.sofi.com/


*To receive the bonus, the Active Invest account must have net deposits (meaning total deposits minus total withdrawals) of $100 to $500,000 in the offer period. The offer period is between now and June 30, 2020. The max bonus payout per user is $5,000. All bonuses will be paid within 5 business days of the conclusion of the offer period. Net deposits are required to remain in the account for 90 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 90 day period.
Share
Good deal?
You gave thanks to lot7labs for this post.
Thank you!
lot7labs posted this deal. Say thanks!
Add Comment
Created 06-04-2020 at 01:37 PM by lot7labs
If you purchase something through a post on our site, Slickdeals may get a small share of the sale.
Deal
Score
+2
3,574 Views

23 Comments

1 2

Sign up for a Slickdeals account to remove this ad.

This comment has been rated as unhelpful by Slickdeals users
Joined Nov 2011
L4: Apprentice
337 Posts
22 Reputation
#2
my deposit is from External bank to SOFI money, then transfer Money from Sofi money to invest,
Don't know if it counts?

Can I find anywhere to set up to do direct transfer from External bank ACH to sofi invest?

BTW, the tiny terms said we have to maintain the money in Invest account 90 days or they might took bonus back.
0
0
0
0
Reply
This comment has been rated as unhelpful by Slickdeals users
Joined Apr 2009
L5: Journeyman
804 Posts
186 Reputation
#3
Does active mean they charge a bunch of management type fees? Gotta recoup the bonus somehow?
0
0
0
0
Reply
This comment has been rated as unhelpful by Slickdeals users
Joined Nov 2006
L10: Grand Master
9,974 Posts
863 Reputation
#4
Quote from nowayman
:
Does active mean they charge a bunch of management type fees? Gotta recoup the bonus somehow?
Active just means you're doing it yourself (i.e. not their automated robo-investor). No fees.

I wonder if this offer is targeted, as I didn't get the e-mail.
0
0
0
0
Reply
This comment has been rated as unhelpful by Slickdeals users
Joined Jul 2019
L3: Novice
128 Posts
826 Reputation
Original Poster
Pro
#5
Quote from nowayman
:
Does active mean they charge a bunch of management type fees? Gotta recoup the bonus somehow?
Sofi does not charge fees for investments.
0
0
0
0
Reply
This comment has been rated as unhelpful by Slickdeals users
Joined Apr 2009
L5: Journeyman
804 Posts
186 Reputation
#6
Is there any confirmation this is open to everyone?
0
0
0
0
Reply
This comment has been rated as unhelpful by Slickdeals users
Joined May 2010
L3: Novice
266 Posts
360 Reputation
#7
dont see the promotion anywhere, any link?
0
0
0
0
Reply
This comment has been rated as unhelpful by Slickdeals users
Joined Nov 2012
L2: Beginner
34 Posts
21 Reputation
#8
I got the email as well, T&Cs say you can deposit money from now through June30, bonus will be paid withing 5 days after the promotion ends, If you take the money out within 90 days they reserve the right to take the bonus back. Not horrible 1% for 90 days is basically 4% APR for free with no risk (deposits in the invest account are federally insured), but not particularly great either. Also as others mentioned there are no fees for sofi investment accounts.

Still considering if its worth the hassle for the few hundred bucks... Might dump all my student loan money in, this ends right when student loan payments start again. Also I see no reason to transfer the money in until the end of the month, might as well keep getting that minuscule interest from Discover....
0
0
0
0
Reply

Sign up for a Slickdeals account to remove this ad.

This comment has been rated as unhelpful by Slickdeals users
Joined May 2010
L2: Beginner
53 Posts
10 Reputation
#9
I had a Sofi savings account from last year. After receiving 6 notification that they are lowering their rates 1 after another within about a 7 month period. I think I am turned off from Sofi banking or investment services.
0
0
0
1
Reply
This comment has been rated as unhelpful by Slickdeals users
Joined Apr 2012
L5: Journeyman
543 Posts
143 Reputation
#10
This is an obvious question, I think it's pretty clear brokerage accounts count? Since it's SoFi invest? If I transferred my portfolio from Robinhood, would that count?
0
0
0
0
Reply
This comment has been rated as unhelpful by Slickdeals users
Joined Jan 2009
BRRR...BRRRR....
2,041 Posts
1,119 Reputation
#11
Easy risk free of $5k in around 3.5 months not bad at all if we have $500k to tuck into this. Wondering if they also pay interest on idle money in there investment account, if they do it probably very little but still better than nothing on top of the $5k...
0
0
0
0
Reply
This comment has been rated as unhelpful by Slickdeals users
Joined Sep 2007
L6: Expert
1,016 Posts
228 Reputation
#12
Quote from Dave256
:
I had a Sofi savings account from last year. After receiving 6 notification that they are lowering their rates 1 after another within about a 7 month period. I think I am turned off from Sofi banking or investment services.
Rates dropped a number of times over the last year. Their rate is based on the fed interest rate. If you want to lock in a rate, a savings/checking account isn't the what you want.
0
0
0
0
Reply
Last edited by iheartemox June 10, 2020 at 08:36 AM.
This comment has been rated as unhelpful by Slickdeals users
Joined Sep 2007
L6: Expert
1,016 Posts
228 Reputation
#13
Quote from mango316
:
Easy risk free of $5k in around 3.5 months not bad at all if we have $500k to tuck into this. Wondering if they also pay interest on idle money in there investment account, if they do it probably very little but still better than nothing on top of the $5k...
I think they only pay interest on idle money in their checking / savings account, not their investment account (I don't see any interest payments in mine) .
0
0
0
0
Reply
This comment has been rated as unhelpful by Slickdeals users
Joined Dec 2012
L1: Learner
8 Posts
33 Reputation
#14
Never got the promotional email, but did see a Notification message on my phone about it today.
0
0
0
0
Reply
This comment has been rated as unhelpful by Slickdeals users
Joined Apr 2012
L5: Journeyman
543 Posts
143 Reputation
#15
I got the promo email today. It's still not clear to me. Is it the size of your brokerage account that triggers the bonus? So, if I do an ACATS transfer, would the money already invested count towards this? If I fund my SoFi Invest account, and invest that money - would it still count?
0
0
0
0
Reply
Page 1 of 2
1 2
Join the Conversation
Add a Comment
 
Frontpage Deal
Frontpage Deal
$5 Credit
(Valid for Select Cardholders)
504 407
Frontpage Deal
Kroger
Free
(Valid Thurs-Sunday in July Only)
86 55
$0.00
23 53
Frontpage Deal
15% Back
(Max of $25, Valid for Select Cardholders)
60 56
Link Copied to Clipboard