The SoFi Money Bonus is now worth $50 when you open a new account and make at least 2 direct deposits worth $500 each. Use this SoFi Money referral link to sign up now. Plus refer others to receive an additional $50 for each person who signs up using your unique SoFi Money referral link.
SoFi Money Sign Up Bonus
Take advantage of the SoFi Money bonus offer by signing up via Bonusery’s SoFi Money account referral link. After doing so, you will receive a $50 welcome bonus when you fund your account with $500 or more. You will also receive access to your own referral bonus link after you open your account.
How To Get $50 SoFi Money Welcome Bonus
To receive the bonus offer you need to:
Then, fund your new account with $500 or more
Finally, wait a few days for the $50 bonus to be deposited directly into your new SoFi Money account
NOTE: this promotion is for new customers only. However, if you have/had a SoFi Loan, SoFi Invest or any other SoFi account, you will still receive the $50 sign up bonus.
SoFi Money Review
SoFi is running a promotion that pays a $50 cash bonus when you open a SoFi Money deposit account, a SoFi checking account and savings account in one.
Consequently, this account gives you a 0.20% APY on all your money with no monthly fees or ATM fees worldwide. You will also receive a Visa debit card, free checks, a well-designed mobile app (SoFi app for iOS), as well as all other checking and savings account features you can expect from a top-tier bank. However, the main benefit of the the money management account is that it’s a unified checking account and savings account.
Above all, the online bank account functions as a savings account with a high-yield rate and also provides the convenience of a checking account. This is a great way to both save money and spend money all while accruing interest income.
The best bank sign up bonus? We at the Bonusery Team think it may be.
From the SoFi Money Bonus Website
Earn more money
You work hard for your money. Now your money can work hard for you. Earn 0.20% APY on your account.
Pay zero fees
Most banks charge an average of $329 per year in account fees. We don’t charge any.
Free ATMs everywhere
Use any ATM worldwide that accepts Visa® and we’ll reimburse you for the fees.
Quick sign up
Sign up and open an account in minutes. It’s that easy.
Pros and Cons
SoFi Money Account Frequently Asked Questions
Is SoFi Money insured?
Yes, the cash management account is FDIC insured up to $1.5 million with additional protection against fraud.
Where are SoFi banks located?
SoFi does not operate traditional brick-and-mortar retail location. Your mobile phone is your branch where you can complete mobile transfers, send photo check deposit, and contact customer service.
How much does the account cost?
The account is free and does not incur any fees for SoFi members.
How does SoFi make money?
Similar to other debit and credit card companies, SoFi earns a small amount of interest on money deposits and debit card usage. Because SoFi does business online only, it’s able to operate with much lower costs than other banks that have physical locations.
Do I need to have a SoFi loan to open a cash management account?
No, you don’t need to have any existing SoFi product to apply.
Can I replace my checking account and deposit as well as savings accounts?
Absolutely! The has all the major features of a checking, savings, and deposit account all-in-one package.
What is the APY for the account?
As at June, 2020 the APY rate is 0.20%.
What is SoFi Money?
SoFi Money is a mobile-first bank that is a checking account but pays a higher interest rate on deposits just like a high-yielding savings account. It’s powered by the SoFi mobile app and the Visa Debit Card. In addition to a high-yield interest rate, the cash management account charges no account fees and offers unlimited reimbursement for ATM fees each month and free P2P payments.
Is a minimum balance required?
No, there is no minimum balance requirement to have an account
Can I deposit cash in my account?
Unfortunately, cash deposits are not accepted. You can only deposit checks, transfer money from other banks as well as P2P payments.
Is SoFi legit?
Absolutely. SoFi is an accredited financial institution that offers numerous financial services for its members that are insured and governed by U.S. regulations.
$100,000 Cash Giveaway
Between May 1, 2020 and June 20, 2020 SoFi is giving away $100,000 total in cash to 31 lucky winners.
Every time you make a purchase with a SoFi Money World Debit Mastercard, you will be entered into the sweepstakes.
|Prizes||Amount||# of Winners|
|Grand Prize||$50,000||1 winner|
|First Prizes||$5,000||5 winners|
|Second Prizes||$1,000||25 winners|
SoFi Money Referral Bonus – $100 for Limited Time [EXPIRED]
Upon receiving your SoFi Money bonus, you can participate in the SoFi Referral Program and extend the $50 bonus with your friends and family.
Updated September 15, 2019: Between September 15, 2019 to September 23, 2019 the referrer will now get $100 for each referral. After September 23, 2019, the amount will drop back down to $50 as part of the SoFi Money referral program.
For each new person that you refer who opens a new account and follows the same steps as you did, you will both receive SoFi Money bonus.
You have the potential to earn $10,000 in cumulative referral bonus payouts from SoFi within a single calendar year.
Keep in mind that the referral bonuses and welcome bonuses are considered to be miscellaneous income. Therefore, may be reportable to the IRS on Form 1099-MISC or Form 1042-S, if applicable. You can find out more about tax implications by visiting our Frequently Asked Questions page.
Feel free to share your referral link in the comments section below after you signed up and received your SoFi Money bonus.
The 50x50x50k Giveaway [Expired August 5, 2019]
On July 22, 2019 SoFi announced the 50x50x50k Giveaway.
You are eligible to receive an extra $50,000 for each successful referral that joins using your referral link in addition to the SoFi Money Bonus and any SoFi Money Bonus Referral.
The official rules and detailed explanation have been posted on the SoFi company website. However, we summarized the two methods of entry for your below.
SoFi Sweepstakes Giveaway Entry Method 1
To enter and receive one entry in the Sweepstakes’ random drawing, an eligible entrant must:
- Refer a user using the unique referral link assigned by SoFi, AND
- The referral must open a SoFi Money checking account and fund it with $100 (or more) within fourteen days of account opening.
A referral must meet the following requirements:
- Be a legal resident of the United States
- 18 years old at time of account opening
- Not be an existing SoFi Money checking account holder under any alias
- A $50 deposit bonus is not required
SoFi Sweepstakes Giveaway Entry Method 2
You can enter without a referral by writing down the following information on a piece of paper:
- First name
- Last name
- Email address used when registering for SoFi
- Statement conveying what you would do with the $50,000 cash payout to help you “Get Your Money Right”
Insert the piece of paper in a #10 business envelope and mail it to:
SoFi 50x50X50K Giveaway Mail-in Entry
c/o Ventura Associates International LLC
494 Eighth Avenue
New York, NY 10001
Mail-in entries must be postmarked between July 22, 2019 and August 5, 2019 and received up to five days thereafter. Each mail-in entry must be mailed separately.
Other Referral Bonus Offers that Pay Free Money for Signing Up
Be sure to also checkout the SoFi Invest $100 sign up bonus. You can sign up for both the SoFi Money and SoFi Active Investing accounts to earn a cumulative total of $75 in new account sign up bonuses.
Chase Bank also has a sign up referral bonus for new account referrals and is valued at up to $350. However, it requires direct deposit and separate checking and savings accounts, not to mention the bonus payout typically takes longer to receive.
SoFi Stadium [September 15, 2019 Update]
Although this has nothing to do with the SoFi Money bonus, we thought it’s cool that SoFi has purchased the naming rights to the new arena where the Los Angeles Rams and Los Angeles Chargers will play.
SoFi Stadium will also host Super Bowl LVI in 2022, the College Football National Championship game in 2023, and the Opening and Closing Ceremonies of the 2028 Olympic Games.
This now makes SoFi a premier brand among some of the world’s most recognizable banks.
Get a $50 SoFi Money bonus when you deposit $500 or more with no minimum balance and no maintenance fees. Manage your account with a mobile app or online, spend with a debit card, it’s the easiest and fastest promotional offer you can get right now. This cash management account also earns 0.20% APY.
Looking for a higher sign up bonus? Check out the Chime sign up bonus worth $75.