Update 2/24/21: $100 bonus is now back with $25 for funding and $75 for direct deposit. Hat tip to reader A.
Update 11/29/20: Looks like you can get another $50 by going through Slickdeals. Plus you can do the $50 round up bonus, making it $200 total. Slickdeals deal now dead.
Offer at a glance
- Maximum bonus amount: $100
- Availability: Nationwide
- Direct deposit required: Yes, $500+
- Additional requirements: None
- Hard/soft pull: Soft
- Credit card funding: None
- Monthly fees: None
- Early account termination fee: ?
- Household limit: None listed
- Expiration date:
October 26, 2020November 4, 2020December 31, 2020
The Offer
- SoFi Money is offering a bonus of up to $100 when you open a new account. Bonus is broken down as follows:
- $25 for depositing $250+
- Additional $75 for setting up direct deposit of $500+
The Fine Print
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
This account doesn’t have any monthly fees to worry about.
Early Account Termination Fee
Not sure if there is any EATF or not, but there is no monthly fee and it’s worth keeping the account open long term for the spending bonuses.
Our Verdict
Don’t think this will stack with the $75 slickdeals bonus as both require opening a new account. Not as good as the previous $200 bonus either. I’d personally recommend just waiting for a bigger offer to return.
Hat tip to mothman69
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- What Banks & Credit Unions Do/Don’t Pull ChexSystems?
- How To Use Our Direct Deposit Page For Bank Bonuses Page
- Common Bank Bonus Misconceptions + Why You Should Give Them A Go
- How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
- Affiliate Links & Bank Bonuses – We Won’t Be Using Them
- Complete List Of Ways To Close Bank Accounts At Each Bank
- Banks That Allow/Don’t Allow Out Of State Checking Applications
- Bank Bonus Posting Times
