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Popular Advertiser Disclosure

SoFi Checking & Savings: Earn Up to $250 with Qualifying Direct Deposit, terms apply + Up to 4.30% APY

+22 Deal Score
124,233 Views
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.

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 4.30% 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.
If you purchase something through a post on our site, Slickdeals may get a small share of the sale.
Deal
Score
+22
124,233 Views
These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered. 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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Joined Oct 2008
L10: Grand Master
> bubble2 8,271 Posts
612 Reputation
DontTaxBeer
06-25-2023 at 01:52 PM.
06-25-2023 at 01:52 PM.
same as synchrony bank on the savings rate.
Reply
Joined Sep 2003
Slickdealer
> bubble2 1,626 Posts
299 Reputation
Devil24
06-25-2023 at 02:15 PM.
06-25-2023 at 02:15 PM.
Got my bonus exactly on day 25 after my first (of two) direct deposits.

Have USAA as my primary bank but really liking SoFi so far, to the point that I'm thinking about making it my go-to bank. Their interest rates are great, the early DD is awesome (2 full days) and the fast deposit/withdrawal/transfer speeds when moving money from/to my other banks is impressive, definitely fastest of any bank I have ever had.
Reply
Joined Apr 2015
L4: Apprentice
> bubble2 370 Posts
243 Reputation
Gregory00
06-26-2023 at 09:12 AM.
06-26-2023 at 09:12 AM.
I've had Sofi for the last year and it has become my primary bank. I actually really like the credit card as they have been giving me 3% cashback on all purchases/no categories.
Reply
Joined Jul 2006
Miaw
> bubble2 6,221 Posts
550 Reputation
happygooddeal
06-26-2023 at 07:57 PM.
06-26-2023 at 07:57 PM.
You need direct deposit otherwise you only get 1.2 %
Reply
Joined Nov 2014
L2: Beginner
> bubble2 219 Posts
50 Reputation
artfather
06-27-2023 at 01:26 AM.
06-27-2023 at 01:26 AM.
I too never received my bonus. And I did notice the few others that said the same had their posts tagged by multiple people as "unhelpful", when in fact these are the most helpful because now the next person can be aware. So there's definitely something funny going on with SD…go ahead and mark this as unhelpful. I expect it at this point.
Reply
Joined Oct 2011
L4: Apprentice
> bubble2 417 Posts
83 Reputation
TheMexican
06-27-2023 at 10:09 AM.
06-27-2023 at 10:09 AM.
Quote from CatsoM :
SOFI is a lousy bank and won't pay out on their bonus.
I had no problems getting the bonus. I did have issue with getting my debit card, but I blame that on them sending it normal snail mail with no tracking, and my apartment building having package thieves.

So far I haven't had any issues. I opened up the checking and cashing to have a side true savings that I don't touch. If i ever need the money the transfers to my discover account only take a few hours. I DD money straight into the savings.
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Joined Jan 2009
L2: Beginner
> bubble2 92 Posts
13 Reputation
bzyrice
06-28-2023 at 05:22 AM.
06-28-2023 at 05:22 AM.
We got our 250.00 without issue with this deal.
Reply
Joined Nov 2013
L1: Learner
> bubble2 10 Posts
14 Reputation
sergios9874
06-28-2023 at 12:18 PM.
06-28-2023 at 12:18 PM.
I would never recommend SoFi, after 3 weeks them "monitoring my account for suspicious activity" and freezing my account and just telling me I have to wait it out. Never will I ever recommend them as a bank.
3
Reply
Joined Aug 2016
New User
> bubble2 13 Posts
11 Reputation
Trillwave93
06-28-2023 at 08:56 PM.
06-28-2023 at 08:56 PM.
Quote from pablo1376 :
Sofi as a bank may be ok but for stocks its trash AND THEY USE PFOF. Buying stocks a few seconds before and selling g it to you a few cents higher

What is pfof?
Reply
Joined Mar 2013
L3: Novice
> bubble2 184 Posts
34 Reputation
RobertL5359
06-29-2023 at 06:31 AM.
06-29-2023 at 06:31 AM.
Quote from dbian :
Why SD always hide these type of messages :

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.


SD Just care about their commissions ??????
That's a disclaimer at the very top of the post.

And do you think they're advising you to get this "deal"? It's an ad!
Reply
Joined Dec 2008
L3: Novice
> bubble2 232 Posts
141 Reputation
DeadDog
06-29-2023 at 06:53 PM.
06-29-2023 at 06:53 PM.
For what it's worth I've been with sofi for about 4 months now and have made them my primary bank. I used to be with Wells Fargo. Had no problem getting the sign up bonus and have benefited from the high savings APY. I don't love the app only because it advertises a lot of their other services but overall it's fine. I would definitely recommend.
Reply
Joined Dec 2015
L2: Beginner
> bubble2 29 Posts
58 Reputation
Ufttubam
06-30-2023 at 05:02 AM.
06-30-2023 at 05:02 AM.
Is transferring from my other bank's checking to Sofi checking qualified as direct deposit?
Reply
Joined May 2023
New User
> bubble2 3 Posts
10 Reputation
SplendidHeart326
07-01-2023 at 10:39 AM.
07-01-2023 at 10:39 AM.
Quote from Ufttubam :
Is transferring from my other bank's checking to Sofi checking qualified as direct deposit?
No a personal bank transfer would not qualify. You'll need a direct deposit from an employer payroll system. I believe setting up direct deposit of social security or pension payments would also work.
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Joined Jan 2014
L1: Learner
> bubble2 73 Posts
18 Reputation
petersuh0905
07-01-2023 at 10:39 AM.
07-01-2023 at 10:39 AM.
I've been a Sofi banker for the past year and I've had no issues at all. I only really use their banking services as I have loans and brokerage services elsewhere. However all bonuses for me have been paid out with no issues.
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