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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
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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Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser.
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Opinions expressed here are the author's alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.
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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'm in the educational space and get paid generally on the first and third week of the month, depending on the holiday and weekend. The early two day direct deposit is clutch. Got my first paycheck May 3rd, and second paystub May 18th with SoFi. Bonus was received today, so exactly 25 days from the first direct deposit as promised in the promo terms.
Side note, finally linked my SoFi account with my Apple Goldman Sachs HYSA. SoFi definitely has some...questionable CS, but they got the job done. Just seemed like alot going on in their office, tons of background noise and bad audio quality. The Goldman Sachs rep and I had a laugh about it. Lol.
Still, I hope they keep the digital aspect on both the app and desktop site running well, easily a way better experience than any other bank I've used.
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.
Cant find their terms and conditions.. Anyone know... whats local here?
Cant find their terms and conditions.. Anyone know... whats local here?
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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.
I switched from Wells Fargo about a year ago and have no idea why I didn't do it sooner. Everything is just so easy. Even getting direct deposit setup through SOFI was a breeze. Man, I can't imagine using an old school bank ever again.
But for what they offer with combinations of great high interest rates and ease of access to account funds without penalty, it's been a blessing. Not to mention their app allows you to see all your various accounts and balances, including non-SoFi ones if you choose so, allows you see your whole current financial state instantly. Definitely helps me keep informed, instead of having to look them all up individually.
Is it perfect at this point as the company grows? No. But hard to find another FDIC-insured bank that provides what's SoFi currently offers.
But for what they offer with combinations of great high interest rates and ease of access to account funds without penalty, it's been a blessing. Not to mention their app allows you to see all your various accounts and balances, including non-SoFi ones if you choose so, allows you see your whole current financial state instantly. Definitely helps me keep informed, instead of having to look them all up individually.
Is it perfect at this point as the company grows? No. But hard to find another FDIC-insured bank that provides what's SoFi currently offers.
To each his own but I've been with SoFi for over a year... Honored all promotions, direct deposits early, check deposits next day and there are a bunch of ATMs. Only minor inconvenience is when I sell a car for cash then I have to take it to my old Huntington Branch to deposit then do an ACH transfer to SoFi. If you already have free checking somewhere local it's a no brainer.
The checking/savings overdraft duo is also great if you want to earn a competitive rate without transaction limits or a ton of hoops like other accounts while keeping your money 100% liquid. Fidelity cash management is another good option for this (currently at 4.73% if you keep the money in brokerage).
Although I don't use SoFi as my main account, it sends and receives transfers very quickly, the app is quite good, interest is competitive. Despite what an earlier comment says it works fine in Mint for me. Their credit card is also pretty good if you don't have a 2% already. One feature mysteriously missing is automated transfers though.
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