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SoFi Checking & Savings: Earn Up to 3.10% APY + $50 or $400 with Direct Deposit, terms apply
SoFi® is offering a sign-up bonus of $50 or $400 with direct deposit, terms apply. Up to 4.60% -> now 4.50% -> now 4.30% -> now 4.20% -> now 4.00% -> now 3.80% -> now 3.60% -> now 3.30% -> now 3.10% (as of 5/28/26) annual percentage yield (APY) on savings and 0.50% APY on checking. No account fees.
The Direct Deposit Promotion will begin on 5/15/2026 and end on 12/31/26 at 11:59PM ET.
Details/Features:
Slickdeals may be compensated by SoFi®
The Direct Deposit Promotion will begin on 5/15/2026 and end on 12/31/26 at 11:59PM ET.
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: $400 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
- Organize your money, set savings goals, and save your change with Vaults and Roundups.
- You'll earn up to 4.60% -> now 4.50% -> now 4.30% -> now 4.20% -> now 4.00% -> now 3.80% -> now 3.60% -> now 3.30% -> now 3.10% annual percentage yield (APY) on savings balances (including Vaults) and up to 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).
- +0.90% Boost on Savings APY for up to 6 months on new accounts. Terms apply.
- Additional information can be found at https://www.sofi.com/banking/
- Member FDIC
- Up to $400 Bonus Tiered Disclosure
New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received within 25 calendar days of your first Eligible Direct Deposit of $1 or more) OR $400 (with at least $5,000 total Eligible Direct Deposits received within 25 calendar days of your first Eligible Direct Deposit of $1 or more). Cash bonus amount will be based on the total amount of Eligible Direct Deposit received within 25 calendar days of your first Eligible Direct Deposit of $1 or more. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 5/15/2026 and will be available through 12/31/26. See full bonus and annual percentage yield (APY) terms at sofi.com/banking/checking-offer/ - APY disclosures
Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 5/28/26. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet. - Fee Policy
We do not charge any account, service, or maintenance fees for SoFi Checking and Savings. We do charge transaction fees for outgoing wire transfers, Instant Transfers, and global remittance transfers. Our fee policy is subject to change at any time. See the SoFi Bank Fee Sheet for details at sofi.com/legal/banking-fees/.
- Additional FDIC Insurance
SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC's regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at SoFi.com/banking/fdic/sidpterms. See list of participating banks at SoFi.com/banking/fdic/participatingbanks. - ATM Access
We've partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees may be incurred when using out-of-network ATMs. SoFi's ATM policies are subject to change at our discretion at any time. - Early Access to Direct Deposit Funds
Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary. - Overdraft Coverage
Overdraft Coverage is a feature automatically offered to SoFi Checking and Savings account holders who receive at least $1,000 or more in Eligible Direct Deposits within a rolling 31 calendar day period on a recurring basis. Eligible Direct Deposit is defined on the SoFi Bank Rate Sheet, available at https://www.sofi.com/legal/banking-rate-sheet. Members enrolled in Overdraft Coverage may be covered for up to $50 in negative balances on SoFi Bank debit card purchases only. Overdraft Coverage does not apply to P2P transfers, bill payments, checks, or other non-debit card transactions. Members with a prior history of unpaid negative balances are not eligible for Overdraft Coverage. Eligibility for Overdraft Coverage is determined by SoFi Bank in its sole discretion. Members can check their enrollment status, if eligible, at any time by logging into their account through the SoFi app or on the SoFi website. - 0.90% Savings APY Boost
Earn up to 4.00% Annual Percentage Yield (APY) on one SoFi Savings account with a 0.90% APY Boost (added to the 3.10% APY as of 5/28/26) for up to 6 months. Open your first SoFi Checking and Savings account and receive eligible direct deposits OR qualifying deposits of $5,000 every 31 days by 12/31/26. Rates are variable, subject to change. Terms apply at sofi.com/banking#4. SoFi Bank, N.A. Member FDIC.
Slickdeals may be compensated by SoFi®
Original Post
Written by
Edited September 3, 2026
at 10:02 AM
SoFi® is offering a sign-up bonus of $50 or $400 with direct deposit, terms apply. Up to 4.60% -> now 4.50% -> now 4.30% -> now 4.20% -> now 4.00% -> now 3.80% -> now 3.60% -> now 3.30% -> now 3.10% (as of 5/28/26) annual percentage yield (APY) on savings and 0.50% APY on checking. No account fees.
The Direct Deposit Promotion will begin on 5/15/2026 and end on 12/31/26 at 11:59PM ET.
Details/Features:
Slickdeals may be compensated by SoFi®
The Direct Deposit Promotion will begin on 5/15/2026 and end on 12/31/26 at 11:59PM ET.
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: $400 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
- Organize your money, set savings goals, and save your change with Vaults and Roundups.
- You'll earn up to 4.60% -> now 4.50% -> now 4.30% -> now 4.20% -> now 4.00% -> now 3.80% -> now 3.60% -> now 3.30% -> now 3.10% annual percentage yield (APY) on savings balances (including Vaults) and up to 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).
- +0.90% Boost on Savings APY for up to 6 months on new accounts. Terms apply.
- Additional information can be found at https://www.sofi.com/banking/
- Member FDIC
- Up to $400 Bonus Tiered Disclosure
New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received within 25 calendar days of your first Eligible Direct Deposit of $1 or more) OR $400 (with at least $5,000 total Eligible Direct Deposits received within 25 calendar days of your first Eligible Direct Deposit of $1 or more). Cash bonus amount will be based on the total amount of Eligible Direct Deposit received within 25 calendar days of your first Eligible Direct Deposit of $1 or more. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 5/15/2026 and will be available through 12/31/26. See full bonus and annual percentage yield (APY) terms at sofi.com/banking/checking-offer/ - APY disclosures
Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 5/28/26. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet. - Fee Policy
We do not charge any account, service, or maintenance fees for SoFi Checking and Savings. We do charge transaction fees for outgoing wire transfers, Instant Transfers, and global remittance transfers. Our fee policy is subject to change at any time. See the SoFi Bank Fee Sheet for details at sofi.com/legal/banking-fees/.
- Additional FDIC Insurance
SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC's regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at SoFi.com/banking/fdic/sidpterms. See list of participating banks at SoFi.com/banking/fdic/participatingbanks.
- ATM Access
We've partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees may be incurred when using out-of-network ATMs. SoFi's ATM policies are subject to change at our discretion at any time. - Early Access to Direct Deposit Funds
Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary. - Overdraft Coverage
Overdraft Coverage is a feature automatically offered to SoFi Checking and Savings account holders who receive at least $1,000 or more in Eligible Direct Deposits within a rolling 31 calendar day period on a recurring basis. Eligible Direct Deposit is defined on the SoFi Bank Rate Sheet, available at https://www.sofi.com/legal/banking-rate-sheet. Members enrolled in Overdraft Coverage may be covered for up to $50 in negative balances on SoFi Bank debit card purchases only. Overdraft Coverage does not apply to P2P transfers, bill payments, checks, or other non-debit card transactions. Members with a prior history of unpaid negative balances are not eligible for Overdraft Coverage. Eligibility for Overdraft Coverage is determined by SoFi Bank in its sole discretion. Members can check their enrollment status, if eligible, at any time by logging into their account through the SoFi app or on the SoFi website. - 0.90% Savings APY Boost
Earn up to 4.00% Annual Percentage Yield (APY) on one SoFi Savings account with a 0.90% APY Boost (added to the 3.10% APY as of 5/28/26) for up to 6 months. Open your first SoFi Checking and Savings account and receive eligible direct deposits OR qualifying deposits of $5,000 every 31 days by 12/31/26. Rates are variable, subject to change. Terms apply at sofi.com/banking#4. SoFi Bank, N.A. Member FDIC.
Slickdeals may be compensated by SoFi®
Created 12-07-2023
at 11:06 AM
by EfficientGame645
in
Finance
(3)
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Featured Comments
NM, I read the fine print.
Bonus Terms: In order to qualify for eligibility for a bonus, SoFi must receive at least one Direct Deposit (as defined below) from an Eligible Participant, the first of which must be received on or after 12/7/2023. Direct Deposits are defined as deposits of $1,000.00 or greater from an enrolled member's employer, payroll, benefits provider, or government agency via ACH deposit. Deposits that are not from an employer, payroll, benefits provider, or government agency (such as check deposits; P2P transfers such as from PayPal or Venmo, etc.; merchant transactions such as from PayPal, Stripe, Square, etc.; and external bank ACH transfers not from employers) do not qualify for this Direct Deposit Promotion. The amount of the bonus, if any, will be calculated during the Direct Deposit Bonus Period as described and defined below.
- You can only link other bank accounts using Plaid. If you don't agree to Plaid terms you are pretty much out of luck.
- Email notifications are very limited, they try to only use push notifications which are not nearly as good for keeping history and you have to keep the app on your phone.
- They do have a website at least, but it's very basic and similar to the app.
On the good side though
- The debit card is great, no foreign transaction fees, and many free ATMs
- You can keep all money in savings account and auto-draft to maximize interest
- Vaults are good for securing and saving money
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And, the best T-Bills are based on your timeframe. The highest interest are most likely going to be 4-week Bills, because as has been mentioned...They will likely go lower in the next few months. But, that will be exactly the same case with all the other short-term options.
And, the best T-Bills are based on your timeframe. The highest interest are most likely going to be 4-week Bills, because as has been mentioned...They will likely go lower in the next few months. But, that will be exactly the same case with all the other short-term options.
So I also filed the BBB, OCC, and CFPB complaints with them and it was removed and I got my money out of there. I learned my lesson-do NOT ever put your money into a place that does not have a local office where you can go to if there is an account issue. Those online, no physical branch banks are ok if no problems, but if you have a problem-it will be a nightmare trying to get your money out of there.
I have experienced this same problem in another major bank.
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That alone was enough that I was considering closing the accounts. Then a couple days ago I started getting the one-time passcode messages from them even though I didn't request them. It's not the first time someone has tried to get into one of my accounts, but it is the first time anyone ever tried to get into one of my bank accounts. The day after mine started, my wife started getting them also. That solidified that it was a Sofi problem as the email address she is using is one I created for her (on my server) specifically for Sofi. No one else has that email address..
We are done with these sketchy a** people.
Love SoFi - had the account for just over a year, no issues whatsoever. Their credit card is excellent and worth considering- 2% cash back on everything with no annual fees. Use it for everything other than chase 5% categories. It adds up. Use Publix ATM for transactions and withdrawal. Only thing I miss is Zelle.
I have Zelle on my sofi acct. I think it was recently added, so might want to check.
Just to add, I have been using sofi as my main bank for almost 2 years now with no issues.
Cannot recommend this company.
I've banked with USAA for many years and have been banking with Sofi as well for a couple of years. I've had to call both to resolve some minor issues and they both resolved quickly. Sofi is good about flagging suspicious activity and blocking the payment. Simply responding to a text message that it was you and trying again resolves it.
Happened to me with Chase. I had my fee for grad school locked because they had an internal error and locked my account due to some suspicious activity (there was none). Took me 3-4 months to get my 20K. I feel it could happen at any bank.
I believe 25 days starts from the first deposit so it's able to trigger with the 2nd deposit on a bimonthly payroll.
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The hidden world behind your new "banking" app
August 16, 20244:08 PM ET
https://www.npr.org/2024/08/16/11...pse-evolve
BERAS: Hilary says, if you have questions about the company you're using, just look at the fine print. Does it literally say it is a bank? If it doesn't, it probably is not a bank.
HELM: So when customers put money in Yotta, it would go from Yotta to Synapse to Evolve. That is how it was supposed to work. But a few months ago, Synapse failed. It filed for bankruptcy. And this revealed an accounting nightmare.
BERAS: Yotta had thought Synapse was keeping track of their customers' deposits and how much money people earn through rewards and bonuses. But no, according to some of the bankruptcy documents, Synapse wasn't keeping good records. And also, Synapse had dropped much of the money into one big account at Evolve.
apologies if it has already been mentioned, and I didn't read all the comments or the web site fine print because I'm not really interested in their product, but here are the fine print links to their policies and maybe someone more invested in the product can analyze and comment further (and I see sd does mention some details about addl insurance).
https://www.sofi.com/banking-2-dr/
https://www.ufbdirect.c