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Advertiser Disclosure
SoFi Checking & Savings: Open New Account w/ Direct Deposit, Get Expired
Up to 4.20% APY
+ $250 Bonus w/ $5K+ in Direct Deposit Transactions
SoFi is offering 4.20% APY on Savings or 1.20% APY on Checking + Up to $250 Bonus when you Open a New Online Account and Set Up Direct Deposit.
Thanks to Community Member Knockknock13 for posting this deal.
Details/Features:
Thanks to Community Member Knockknock13 for posting this deal.
Details/Features:
- After Opening a New Account and setting up Direct Deposit, wait for your direct deposit to hit your account (typically 2-4 weeks).
- Amount of Direct Deposit Cash Bonus depends on Total Qualifying Direct Deposit amount in 25-day Evaluation Period:
- $1,000 - $4,999.99 Total Qualifying Direct Deposit: $50 Cash Bonus
- $5,000 or more Total Qualifying Direct Deposit: $250 Cash Bonus
- SoFi will credit members who meet qualification criteria within (7) business days of the end of the Evaluation Period.
- Direct Deposit Bonus Promotion ends 12/31/23 11:59PM ET.
- No account fees. No-fee Overdraft Coverage.
- ATM access at any of the 55,000+ ATMs within the Allpoint network
- Up to 2-day-early-paycheck
- Up to 15% cash back at local businesses
- You'll earn up to 4.20% annual percentage yield (APY) on savings balances (including Vaults) and 1.20% APY on checking balances with direct deposit. Members without direct deposit will earn 1.20% APY.
- There is no minimum direct deposit amount required. However, please note that there is a minimum direct deposit required for No-Fee Overdraft Coverage ($1,000).
- Interest rates are variable and subject to change at any time. Rates are current as of 4/25/2023. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet
Editor's Notes & Price Research
Written by
- Please refer to the forum thread and this previous Frontpage Deal for additional deal ideas and discussion.
Original Post
Written by
Edited April 27, 2023
at 11:12 AM
SoFi is offering up to $250 with qualifying direct deposit, terms apply. Up to 4.30% APY on savings and 1.20% APY on checking. No account fees.
Starting from 06/09 this became 4.30%apy for savings accounts
Details/Features:
Slickdeals is not registered as an investment adviser under the U.S. Investment Advisers Act of 1940, as amended, and nothing in these materials should be construed as advice concerning securities, the value of securities, the advisability of investing in, purchasing, or selling securities, or the merits of any investment adviser.
Starting from 06/09 this became 4.30%apy for savings accounts
Details/Features:
- After Opening a New Account and setting up Direct Deposit, wait for your direct deposit to hit your account (typically 2-4 weeks).
- Amount of Direct Deposit Cash Bonus depends on Total Qualifying Direct Deposit amount in 25-day Evaluation Period :
- $1,000 - $4,999 Total Qualifying Direct Deposit: $50 Cash Bonus
- $5,000 or more Total Qualifying Direct Deposit: $250 Cash Bonus
- SoFi will credit members who meet qualification criteria within 14 days of the end of the Evaluation Period.
- No overdraft fees. No minimum balance fees. No monthly fees. Plus, 55,000+ fee-free ATMs within the Allpoint Network.
- Up to 2-day-early-paycheck
- Get up to 15% cash back at local establishments when you pay with your SoFi debit card.
- Organize your money, set savings goals, and save your change with Vaults and Roundups.
- You'll earn up to 4.20% annual percentage yield (APY) on savings balances (including Vaults) and 1.20% APY on checking balances with direct deposit. Members without direct deposit will earn 1.20% APY.
- There is no minimum direct deposit amount required. However, please note that there is a minimum direct deposit required for No-Fee Overdraft Coverage ($1,000).
- Interest rates are variable and subject to change at any time. Rates are current as of 4/25/2023. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet
Slickdeals is not registered as an investment adviser under the U.S. Investment Advisers Act of 1940, as amended, and nothing in these materials should be construed as advice concerning securities, the value of securities, the advisability of investing in, purchasing, or selling securities, or the merits of any investment adviser.
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I just keep everything in savings for the higher interest rate. They have a setting called overdraft protection where they just move money automatically from your savings if there is not enough in your checking to cover an expense.
I've found a good rule of thumb whenever looking at a bank giving out bonuses is to skip the marketing wank and go straight to the full terms and conditions to see how they're going try to weasel out, and what you need to do if you want to stop them.
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I've found a good rule of thumb whenever looking at a bank giving out bonuses is to skip the marketing wank and go straight to the full terms and conditions to see how they're going try to weasel out, and what you need to do if you want to stop them.
Our community has rated this post as helpful. If you agree, why not thank americanadian
I just keep everything in savings for the higher interest rate. They have a setting called overdraft protection where they just move money automatically from your savings if there is not enough in your checking to cover an expense.
EDIT:
After some research, i might not qualify. I already have a direct deposit for my samsung money by sofi which might be thr same product as sofi money with a different name. I might call them to see if this is completely true. It would be nice to get that $250 and close the account at a later time.
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That's how I read it, too. "Evaluation Period: The Evaluation Period begins when SoFi receives a Qualifying Direct Deposit within the Promotion Period and ends 25 days later (the "Evaluation Period")."
I just keep everything in savings for the higher interest rate. They have a setting called overdraft protection where they just move money automatically from your savings if there is not enough in your checking to cover an expense.
Additionally, their savings account does not have the 6 transactions/month limit that a lot of places still keep (even though that's no longer a federal rule). So you can actually just pay everything from your savings if you wanted.
I have a Sofi account that i opened in sept and have had no complaints since. Rates are the extreme highest but are always very competitive and get raised automatically. I do have a UFB account that I opened back when rates were 5% and I split money between the two banks. UFB is super slow with a higher rate while sofi is a little lower but the experience has been much smoother tbh.
That is right. 25 days starts after the 1st direct deposit