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Advertiser Disclosure
SoFi Checking & Savings: Earn Up to $250 with Qualifying Direct Deposit, terms apply + Up to 4.30% APY
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:
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.
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.
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43 Comments
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Another thing I really like is ACH transfers are always crazy fast. I don't know what they do different than other banks, but any transfer I initiate from SoFi usually posts within 24-48 hours on business days. It's nice being able to move money around between accounts so quickly and not have to wait a week for it to show up like some banks.
I can understand peoples' gripes if all they want is a checking and/or savings account and nothing more, though. The app can be kind of "busy" in that case, although I thought you could turn some of that marketing stuff off too, and obviously emails are easy enough to unsubscribe from. But at the end of the day, SoFi's whole schtick is a one-stop-shop for online finance. How they increase their ARPU and make more money is by selling you more services and debt products. If you want just a simple high APY savings account, there are honestly probably better choices out there. SoFi's APY is usually competitive, but not even the highest either.
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You aren't kidding about the inter bank transfer speed. I did a transfer last week and it posted to my other bank same day (and the bank said it was available to use).