Direct Deposit Bonus

SoFi Bank, N.A. Member FDIC.

SoFi Checking and Savings is offered through SoFi Bank, N.A.. The SoFi Bank Debit Mastercard® is issued by SoFi Bank, N.A., pursuant to license by Mastercard International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated. ©2023 SoFi Bank, N.A. All rights reserved. Member FDIC. Equal Housing Lender.

This is not an offer, or solicitation of any offer to buy or sell any security, investment or other product. You can find additional information regarding SoFi Securities LLC and its registered persons at FINRA’s website. The firm reserves the right to monitor and retain all incoming and outgoing communications as permitted by applicable law.

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The following describes the terms that apply to participation in the SoFi Checking and Savings direct deposit promotion (the “Promotion”) offered by SoFi Bank, N.A, Member FDIC (“SoFi”).

Eligible Participants: All new and existing members without a history of direct deposit transactions into their SoFi Checking and Savings account are eligible for the Program.Members who previously enrolled in direct deposit into either SoFi Money or SoFi Checking and Savings do not qualify for this promotion. Bonuses are limited to one per SoFi Checking & Savings account. In the case of a joint account, only the primary account holder (the member who signed up first) is eligible for a bonus.

Promotion Period: The Program will be available through 12/31/23 11:59PM ET.

Bonus Terms:In order to qualify for eligibility for a bonus, SoFi must receive at least one Qualifying Direct Deposit (as defined below) from an Eligible Participant before the end of the Promotion Period. Qualifying Direct Deposits are defined as deposits from an enrolled member’s employer, payroll, or benefits provider via ACH deposit. Deposits that are not from an employer (such as check deposits; P2P transfers such as from PayPal or Venmo, etc.; merchant transactions such as from PayPal, Stripe, Square, etc.; and bank ACH transfers not from employers) do not qualify for this promotion. The amount of the bonus, if any, is described below. No bonuses shall be paid for Qualifying Direct Deposits of less than $1,000 during the Evaluation Period (defined below).

Evaluation Period: The Evaluation Period begins when SoFi receives a Qualifying Direct Deposit (within the Promotion Period) and ends 25 days later (the “Evaluation Period”). The bonus amount will vary based on the total amount of Qualifying Direct Deposits received during the Evaluation Period. Once the Evaluation Period has elapsed, we will determine if you have met the offer requirements and will deposit any earned bonus into your checking account within 7 business days. For example, if SoFi receives between $1,000.00 and $4,999.99 in Qualifying Direct Deposits during the Evaluation Period, you will receive a cash bonus of $50. A member may only qualify for one bonus tier and will not be eligible for future bonus payments if inflows subsequently increase after the Evaluation Period.

Payment timeline: SoFi will credit members who meet qualification criteria within 7 business days of the end of the Evaluation Period.

Bonuses are considered miscellaneous income and may be reportable to the IRS on Form 1099-MISC (or Form 1042-S, if applicable). SoFi reserves the right to exclude any Members from participating in the Program for any reason, including suspected fraud, misuse, or if suspicious activities are observed. SoFi also reserves the right to stop or change the Program at any time.

SoFi members with direct deposit can earn up to 4.00% annual percentage yield (APY) on savings balances (including Vaults) and 1.20% APY on checking balances. There is no minimum direct deposit amount required to qualify for the 4.00% APY for savings. Members without direct deposit will earn 1.20% APY on all account balances in checking and savings (including Vaults). Interest rates are variable and subject to change at any time. These rates are current as of 3/17/2023. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet

² Based on user research from SoFi Direct Deposit Member Survey, 2020

³ SoFi will assess a fee for each crypto transaction outside of automatic direct deposit purchases. For more information, visit SoFi.com/crypto

⁴ Early access to direct deposit funds is based on the timing in which we receive notice of impending payment, which is typically up to two days before the scheduled payment date.

⁵ Overdraft Coverage only applies to SoFi Checking and Savings accounts with qualifying direct deposits of $1,000/month and is currently unavailable for Samsung Money by SoFi accounts. Members with a prior history of non-repayment of negative balances for SoFi Checking and Savings are also ineligible for Overdraft Coverage.

⁶ 11x based on FDIC monthly interest savings rate as of March 17, 2023.

⁷20x based on FDIC monthly interest checking rate as of March 17, 2023.

SoFi will assess a fee for each crypto transaction outside of automatic direct deposit purchases. For more information, visit SoFi.com/crypto