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SoFi Checking & Savings: Earn Up to 4.60% APY + Up to $250 with Direct Deposit, terms apply Expired
SoFi is offering up to $250 with direct deposit, terms apply. Up to 4.60% APY on savings and 0.50% APY on checking. No account fees.
Thanks to Slickdeals Staff Member EfficientGame645 for posting this deal.
Details/Features:
Slickdeals may be compensated by SoFi
Thanks to Slickdeals Staff Member EfficientGame645 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 Direct Deposit amount in 25-day Evaluation Period :
- $1,000 - $4,999 Total Direct Deposit: $50 Cash Bonus
- $5,000 or more Total Direct Deposit: $250 Cash Bonus
- SoFi will credit members who meet qualification criteria within seven business 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 4.60% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances.
- 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).
10/24/2023. Additional information can be found at https://www.sofi.com/banking/
Slickdeals may be compensated by SoFi
Original Post
Written by
Edited December 7, 2023
at 10:30 AM
SoFi is offering up to $250 with direct deposit, terms apply. Up to 4.60% APY on savings and 0.50% APY on checking. No account fees.
Details/Features:
Slickdeals may be compensated by SoFi
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 Direct Deposit amount in 25-day Evaluation Period :
- $1,000 - $4,999 Total Direct Deposit: $50 Cash Bonus
- $5,000 or more Total Direct Deposit: $250 Cash Bonus
- SoFi will credit members who meet qualification criteria within seven business 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 4.60% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances.
- 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).
10/24/2023. Additional information can be found at https://www.sofi.com/banking/
Slickdeals may be compensated by SoFi
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That said, it seems there is no reason to have a checking account with sofi. Just do everything with savings
I don't think anyone said that banks are required to still have those limits, just that almost all banks still regularly do have these transaction limits when it comes to savings accounts (even higher interest accounts like Ally, which makes them less attractive).
For me, the main reason to still have a savings AND checking is for [a sense of] security: I have to occasionally give out my checking account info (direct deposit, linking accounts, an occasional wire, etc.), but I NEVER give out savings info. And I move money into checking as needed, and it's all quite seamless.
For me, the main reason to still have a savings AND checking is for [a sense of] security: I have to occasionally give out my checking account info (direct deposit, linking accounts, an occasional wire, etc.), but I NEVER give out savings info. And I move money into checking as needed, and it's all quite seamless.
That's exactly what I do, good point ☝️
For me, the main reason to still have a savings AND checking is for [a sense of] security: I have to occasionally give out my checking account info (direct deposit, linking accounts, an occasional wire, etc.), but I NEVER give out savings info. And I move money into checking as needed, and it's all quite seamless.
You seem to be missing the point, why does Sofi penalize either account. There is no reason. With your concern, just open two different savings accounts.
SoFi doesn't "penalize" either account. Checking vs savings are just different products with different pros/cons. With the checking account you also get a debit card and free checks (if you want, which I do for the rare bill/verification). If you want two savings account go ahead and do that… did anyone suggest that's not a good idea? I think it's fine if it suits your purposes.
I'm just giving details on how and why checking and savings are different as that other user asked about. I don't personally care what anyone uses for their setup. Just neutrally helping someone be more informed or while they are considering banking decisions as I have expertise in the subject based on personal and professional experience.
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if I close samsung money by sofi account and open regular sofi account can I get bonus?
Thanks!
This is completely untrue. Maybe 2-3 years ago this was the case, but now even brokerages like Robinhood offer at least 5% APY and are insured over $2 Million.
Currently I'm taking advantage of shorter term bonds due to higher rates but now that the Fed has signaled the end of increases, it's now time to lock in some longer term bonds before it's too late IMO.
what are the guidelines of this account? They are not posted. Is there a withdrawal limit each month? How long to transfers take etc...
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