SoFi is offering up to
$300 with direct deposit, terms apply. Up to
4.60% APY on savings and
0.50% APY on checking. No account fees.
Direct Deposit Promotion begins on 12/7/23 and will be available through 12/31/24.
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: $300 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% 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/
SoFi members with Direct Deposit or $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 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 to qualify for the stated interest rate. Members without either Direct Deposit or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 10/24/2023. There is no minimum balance requirement. Additional information can be found at
http://www.sofi.com/legal/banking-rate-sheet.
Slickdeals may be compensated by SoFi
180 Comments
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That's how these scam banks offer high rate checking/savings - by pinching customers on all the other basics. Simple as.
I'm in process of moving everything away from them.
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thank you
I think the theft is not SSN related, it is ACH related. Recently, I made a ACH link between two banks, I entered routing number and account number, linked without two trial deposits needed.
My understanding is, the bonus period (25 days) begins as soon the first direct deposit hits not the day I open account? Meaning as soon as first direct deposit hits I have 25 days from that day to deposit 5K to get $300 bonus.
Evaluation period starts from the day your opened the bank account. Better to open the account just 3 or 4 days before paycheck .
Very happy overall with Sofi, the website and layout is all clean. Only downside is that, we both liked SoFi so much we wanted to open individual checking and savings accounts but we aren't allowed a 2nd account with SoFi. Not a big deal I still bank with my old credit union and usually rotate a few banks each year collecting the direct deposit bonuses.
Reading some of the financial woes here isn't great, but in the big scheme of things our money's insured and we've had great experiences with SoFi.
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