SoFi® Checking and Savings is offered through SoFi Bank, N.A. The SoFi® Bank Debit Mastercard® is issued by The Bancorp Bank 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.
SoFi members with direct deposit activity can earn 4.50% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. Direct Deposit means a deposit to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Direct Deposit”) via the Automated Clearing House (“ACH”) Network during a 30-day Evaluation Period (as defined below). Deposits that are not from an employer or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, do not constitute Direct Deposit activity. There is no minimum Direct Deposit amount required to qualify for the stated interest rate.
SoFi members with Qualifying Deposits can earn 4.50% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Qualifying Deposits means one or more deposits that, in the aggregate, are equal to or greater than $5,000 to an account holder’s SoFi Checking and Savings account (“Qualifying Deposits”) during a 30-day Evaluation Period (as defined below). Qualifying Deposits only include those deposits from the following eligible sources: (i) ACH transfers, (ii) inbound wire transfers, (iii) peer-to-peer transfers (i.e., external transfers from PayPal, Venmo, etc. and internal peer-to-peer transfers from a SoFi account belonging to another account holder), (iv) check deposits, (v) instant funding to your SoFi Bank Debit Card, (vi) push payments to your SoFi Bank Debit Card, and (vii) cash deposits. Qualifying Deposits do not include: (i) transfers between an account holder’s Checking account, Savings account, and/or Vaults; (ii) interest payments; (iii) bonuses issued by SoFi Bank or its affiliates; or (iv) credits, reversals, and refunds from SoFi Bank, N.A. (“SoFi Bank”) or from a merchant.
SoFi Bank shall, in its sole discretion, assess each account holder’s Direct Deposit activity and Qualifying Deposits throughout each 30-Day Evaluation Period to determine the applicability of rates and may request additional documentation for verification of eligibility. The 30-Day Evaluation Period refers to the “Start Date” and “End Date” set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the “30-Day Evaluation Period”). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY. Upon receiving a Direct Deposit or $5,000 in Qualifying Deposits to your account, you will begin earning 4.50% APY on savings balances (including Vaults) and 0.50% on checking balances on or before the following calendar day. You will continue to earn these APYs for (i) the remainder of the current 30-Day Evaluation Period and through the end of the subsequent 30-Day Evaluation Period and (ii) any following 30-day Evaluation Periods during which SoFi Bank determines you to have Direct Deposit activity or $5,000 in Qualifying Deposits without interruption.
SoFi Bank reserves the right to grant a grace period to account holders following a change in Direct Deposit activity or Qualifying Deposits activity before adjusting rates. If SoFi Bank grants you a grace period, the dates for such grace period will be reflected on the APY Details page of your account. If SoFi Bank determines that you did not have Direct Deposit activity or $5,000 in Qualifying Deposits during the current 30-day Evaluation Period and, if applicable, the grace period, then you will begin earning the rates earned by account holders without either Direct Deposit or Qualifying Deposits until you have Direct Deposit activity or $5,000 in Qualifying Deposits in a subsequent 30-Day Evaluation Period. For the avoidance of doubt, an account holder with both Direct Deposit activity and Qualifying Deposits will earn the rates earned by account holders with Direct Deposit.
Members without either Direct Deposit activity or Qualifying Deposits, as determined by SoFi Bank, during a 30-Day Evaluation Period and, if applicable, the grace 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 8/9/2023. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.‡Our account fee policy is subject to change at any time.
^Requires direct deposit of funds. 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.
The following describes the terms that apply to participation in the SoFi Checking and Savings direct deposit promotion (the “Direct Deposit Promotion”) offered by SoFi Bank, N.A, Member FDIC (“SoFi”).
Eligible Participants: All new and existing members without any history of direct deposit transactions into their SoFi Checking and Savings account are eligible for the Direct Deposit Promotion. Members who previously enrolled in direct deposit into either SoFi Money or SoFi Checking and Savings, whether currently still enrolled or not, do not qualify for this Direct Deposit Promotion. Bonuses are limited to one per SoFi Checking and 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 Direct Deposit Promotion will begin on 01/01/2023 at 00:01AM ET and end on 12/31/23 at 11:59PM ET.
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 before the end of the Promotion Period. 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.
Direct Deposit Bonus Period: The Direct Deposit Bonus Period begins when SoFi receives a Direct Deposit within the Promotion Period and ends 25 days later (the “Direct Deposit Bonus Period”). For the avoidance of doubt, the Direct Deposit Bonus Period shall not extend beyond the Promotion Period. The bonus amount will vary based on the total amount of Direct Deposits received during the Direct Deposit Bonus Period. Once the Direct Deposit Bonus Period has elapsed, SoFi will determine if you have met the offer requirements and will deposit any earned bonus into your checking account within seven (7) business days. For example, if SoFi receives between $1,000.00 and $4,999.99 in Direct Deposits during the Direct Deposit Bonus Period, you will receive a one-time cash bonus of $50. A member may only qualify for one bonus tier and will not be eligible for future bonus payments if Direct Deposits subsequently increase after the Direct Deposit Bonus Period.
|Total Qualifying Direct Deposit Amount in 25-day Evaluation Period||Cash Bonus|
|$1,000.00 - $4,999.99||$50|
|$5,000.00 or more||$250|
Bonus Payment Timeline: SoFi will credit members who meet qualification criteria within seven (7) business days of the end of the Direct Deposit Bonus 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 Direct Deposit Promotion for any reason, including suspected fraud, misuse, or if suspicious activities are observed. SoFi also reserves the right to stop or change the Direct Deposit Promotion at any time.
SoFi members with direct deposit can earn up to 4.50% 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 4.50% APY for savings. Members without direct deposit will earn up to 1.20% annual percentage yield (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 8/2/2023. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet
210x based on FDIC monthly interest savings rate as of July 17, 2023.
‡‡Referral terms and conditions apply. See SoFi.com/referral-program for details.
SoFi Bank, N.A., 2750 E Cottonwood Pkwy STE 300, Salt Lake City, UT 84121. ©2022 SoFi Bank, N.A. All rights reserved. Member FDIC. Equal Housing Lender. Screen images simulated. BR22-995195
SOFI GLOW UP SWEEPSTAKES OFFICIAL RULES
NO PURCHASE NECESSARY TO ENTER OR WIN. A PURCHASE WILL NOT INCREASE YOUR CHANCES OF WINNING.
ENTRY INTO THIS SWEEPSTAKES CONSTITUTES YOUR ACCEPTANCE OF THESE OFFICIAL RULES (“RULES”) AND THE DECISIONS OF SOFI, WHICH SHALL BE FINAL IN ALL RESPECTS. SWEEPSTAKES IS GOVERNED BY U.S. LAW AND IS SUBJECT TO ALL FEDERAL, STATE AND LOCAL LAWS, REGULATIONS, AND ORDINANCES.
ENTRY PERIOD: The SoFi Glow Up Sweepstakes (“Sweepstakes”) begins at 12:00:00 a.m. Eastern Time (“ET”) on November 16, 2022 and ends at 11:59:59 pm ET on December 31, 2022 (“Entry Period”).
ELIGIBILITY: To be eligible to enter, you must be a legal resident of the 50 United States or the District of Columbia age 18 years of age or older (collectively referred to as an “Entrant”) and download the SoFi app (if you have not done so prior to the start of the Sweepstakes). Employees of Social Finance, Inc. (the “Sponsor” or “SoFi”), and its respective parent company, subsidiaries, affiliated or successor companies; Ventura Associates International LLC (the “Administrator”), distributors, dealers, sales representatives, web masters/suppliers, advertising and promotional agencies, anyone associated with the development, implementation or execution of this Sweepstakes (collectively referred to hereafter as the “Sweepstakes Entities”), and members of the immediate families (defined as: spouse, biological, adoptive and step-parents, grandparents, siblings, children and grandchildren, and each of their respective spouses, regardless of where they reside) or households (whether related or not) of any of the above are not eligible to enter or win. Void where prohibited or restricted by law.
HOW TO QUALIFY FOR ENTRY IN THE RANDOM DRAWING: To earn entries in the Sweepstakes’ random drawing:
Entry Method 1 – SoFi Members and Non-Members who do not yet have a SoFi Checking & Savings account can earn entries by:
Signing up for SoFi Checking & Savings account during the Entry Period to receive one (1) entry in the drawing.
Plus, referring friend(s) to receive one (1) additional entry in the drawing for each friend that successfully signs up for a SoFi Checking and Savings account during the Entry Period.
Entry Method 2 – SoFi Members who already have SoFi Checking & Savings accounts prior to the start of the Sweepstakes can earn entries by:
Referring friend(s) to receive one (1) entry in the drawing for each friend that successfully signs up for a SoFi Checking and Savings account during the Entry Period.
Entry Method 3 – Enter without signing up for an account by registering for a free SoFi Relay Financial Insights account during the Entry Period to automatically receive ten (10) entries in the drawing. REGARDLESS OF METHOD OF ACCUMULATING ENTRIES, THERE IS ENTRY LIMIT OF TEN (10) ENTRIES PER ENTRANT.
Any attempt by an Entrant to obtain more entries than the stated number of entries allowed by using multiple/different accounts, identities, registrations and logins, or any other methods will void that Entrant’s entries and that Entrant may be disqualified. Use of scripts, macros, or any other automated system to participate or subvert the process is prohibited and will result in disqualification. In the event of an identity dispute, entry will be considered made by the registered owner of the email account used for entry. Entrants must have a valid email address. The Sponsor shall select winner from the entries submitted that meet the Rules requirements described herein. Potential winner may be required to show proof of being the authorized account holder. All entries submitted become the property of Sponsor and will not be acknowledged or returned.
WINNER SELECTION & ODDS: One (1) winner will be randomly selected from all eligible entries received during the Entry Period. Random drawing conducted on or about January 10, 2023, by the Administrator whose decisions are final and binding. Odds of winning are determined by the number of eligible Entries received during the Entry Period.
WINNER NOTIFICATION & VERIFICATION: Potential winner will be notified by email on or about January 10, 2023, and will be required to complete and return an Affidavit of Eligibility/Liability/Publicity Release plus an IRS W9 Form which must be completed, signed, and returned to Administrator within five (5) days from date on notification. At the sole discretion of the Sponsor, disqualification, forfeiture and the selection of an alternate winner may result from any of the following:  a potential winner’s failure to respond to email notification within five (5) days after emailing/transmission;  the return of an email notification or message as undeliverable;  the receipt of any other notice from Sponsor or an undeliverable prize;  a potential winner’s failure to provide Sponsor with satisfactory proof of age, identity and residency;  a potential winner’s failure to execute and return within three (3) days after its deployment or mailing notification an Affidavit of Eligibility/Liability/Publicity Release and/or any required documents;  a potential winner’s failure to claim prize within three (3) days after he or she is confirmed as a winner; and  any other non-compliance with Rules. In the event of prize forfeiture, the Sponsor may, in its sole discretion, award or not award the forfeited prize to an alternate winner. Sponsor shall have no liability if notification is lost, intercepted, or not received for any reason. Sponsor is not responsible for any change in Entrant’s (or winner’s) email account or other contact information after entering the Sweepstakes.
POTENTIAL WINNER IS SUBJECT TO VERIFICATION BY SPONSOR AND ITS ADMINISTRATOR. AN ENTRANT IS NOT THE WINNER UNLESS AND UNTIL HE/SHE HAS BEEN VERIFIED AND NOTIFIED THAT THE VERIFICATION IS COMPLETE.
GRAND PRIZE DETAILS: Selected winner will receive $75,000.00 to be awarded to his/her SoFi Savings or Checking Account. If winner does not have a SoFi Savings or Checking Account, he or she can open an account for free on the SoFi app or at SoFi.com. Funds will be deposited within 2-3 weeks from winner’s verification or from when the account is created.
Winner will also receive a 5 days/4 nights trip for the winner and up to three (3) guests to Honolulu, HI. Approximate retail value (“ARV”) of trip portion of prize: $15,000.00, depending on time of travel and what airfares and accommodations are charging when booked. If actual value of prize is lower than the stated ARV when prize is procured and fulfilled, then the difference will not be awarded. Prize must be accepted in its entirety or winner will forfeit all rights to prize.
Trip portion of prize consists of round-trip economy class airfare for winner and up to three (3) guest(s) from/to a major commercial airport nearest to winner’s primary residence to/from Honolulu, HI (or ground transportation for winner and his/her guests in the eventuality winner resides within a one hundred (100) mile radius of Honolulu, HI (as determined by the Sponsor at its sole discretion), double occupancy hotel accommodations for four (4) nights (two rooms (total) and room tax only); airport transfers while in Hawaii, select meals as determined by Sponsor plus two (2) tours: one Sunset Cruise and one dinner tour and a Waikiki Adventure Sail tour. All meals (other than those provided with prize), ground transportation (other than as noted), taxes, gratuities, incidentals, upgrades, service charges or other expenses not specified herein are not included and are the sole responsibility of the winner and/or each guest. All prize details are at Sponsor’s sole discretion. Sponsor is not responsible for any flight or transportation delay/cancellation and is not liable for any expenses incurred because of such delay/cancellation. No substitution offered, no transfer of prize to a third party is permitted and trip portion of prize will not be redeemed for cash value, except by Sponsor, who reserves the right in its sole discretion to substitute prize or any potion of prize for a prize of comparable or greater value. An IRS form 1099 will be filed in the name of the winner for the actual value of the prize won.
Arrangements for the fulfillment of trip portion of prize will be made by Sponsor and/or its designated agent. Winner will have ten (10) months from the date of prize award to redeem travel portion of prize and will be required to submit travel dates with forty-five (45) days of advance notice. Travel, tours and hotel accommodations are subject to availability. Blackout dates and certain restrictions may apply. Winner and guest(s) must travel together on the same itinerary (including same departure and return dates) or forfeit all rights to the trip. Winner acknowledges that the tours portion of prize is beyond the control is subject to being rescheduled, modified, or cancelled. In the eventuality the tour(s) is postponed or canceled, no compensation or substitution will be provided, and the Sponsor shall have no further obligation to the winner other than to supply the balance of the prize minus the tour(s). If for any reason whatsoever, the winner and/or any guest(s) are unable to travel or participate in any of the tours after all arrangements have been made and paid, the Sponsor shall have no further obligation to winner and/or guest(s). Winner and guests are responsible for obtaining proper documentation (i.e., valid photo ID, proof of vaccination, etc.), prior to travel. If winner is an eligible minor in his/her state of residence, a parent or legal guardian will need to accompany minor on trip as winner’s guest. If guest is a minor, the winner must be the guest’s parent or legal guardian. Each guest will be required to execute and return a Liability/Publicity Release prior to travel. The Sponsor will not be responsible for weather conditions; acts of God; acts of terrorism; civil disturbances; local, state, or federal regulation, order, or policy; work stoppage; epidemic, pandemic, or any other issue concerning public health or safety; or any other event outside of their control that may cause the cancellation or postponement of, or the restriction while traveling to/from Hawaii or while attending any tour. The winner and winner’s guest(s) must also comply with all applicable laws, policies, orders, protocols, and guidelines issued by federal, state, and local authorities respecting COVID-19 and other communicable diseases as required for travel or participating in any social activities. Face masks and enhanced health screenings (which may include a requirement that winner and guest(s) be evaluated for COVID-19 or proof of full vaccination against COVID-19 may be required prior to traveling or attending any of the tours and such requirements may be updated from time to time by federal, state or local authorities. Receiving the prize is contingent upon compliance with these Rules and passing any required background check, if needed, to the Sponsor’s satisfaction in the Sponsor’s sole discretion.
Except where prohibited by law, entry and acceptance of prize constitute permission for Sponsor and its agents to use winner’s name, prize won, hometown, likeness, video tape, photographs, and statements for purposes of advertising, promotion, and publicity (including online posting) in all media now or hereafter known throughout the world in perpetuity, without additional compensation, notification, or permission. Furthermore, Sponsor and/or its agents may film, record and/or take photographs of the winner (and any guest) before/during/after the trip and/or tours and may use the resulting footage, recordings, or photographs for a range of purposes, including, without limitation, for marketing and promoting Sponsor and/or its promotion partners/agents and their respective products and services. No additional compensation will be provided for any resulting footage.
CONSENT AND RELEASE: To the fullest extent possible in law, Entrants, and on behalf of their respective heirs, executors, administrators, legal representatives, successors and assigns (“Releasing Parties”), release, defend and hold harmless the Sweepstakes Entities and their associated companies and directors, including but not limited to its respective parent, subsidiary, affiliated or successor companies and their respective owners, members, shareholders, officers, directors, partners, equity holders, agents, representatives, employees and all others associated with the development and execution of this Sweepstakes (collectively, “Releasees”) from and against any and all claims, actions, causes of action, suits, liabilities, debts, dues, sums of money, accounts, reckonings, bonds, bills, specialties, covenants, contracts, controversies, agreements, promises, variances, trespasses, lost profits, indirect or direct damages, consequential damages, incidental damages, punitive or exemplary damages, judgments, extent, executions, claims and demands whatsoever, in law, admiralty or equity, whether known or unknown, foreseen or unforeseen, against Releasees which any one or more of the Releasing Parties ever had, now have or hereafter can, shall or may have which in any way arise out of or result from Entrant’s participation, acceptance of prize and/or while traveling to/from travel destination or while participating in prize related activities (if determined the winner).
By participating in this Sweepstakes, each Entrant expressively waives and relinquishes all rights and benefits afforded by California Civil Code 1542 and does so understanding and acknowledging the significance of this waiver. Section 1542 states as follows: “A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS THAT THE CREDITOR OR RELEASING PARTY DID NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE AND THAT, IF KNOWN, BY HIM OR HER, WOULD HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR OR THE RELEASED PARTIES.”
ARBITRATION: This Sweepstakes shall be governed by and interpreted under the laws of the State of California, U.S.A., without regard to its conflicts of laws provisions. Entrant hereby agrees that any and all disputes, claims, causes of action, or controversies (“Claims”) arising out of or in connection with this Sweepstakes or the prize shall be resolved, upon the election by Entrant or Sponsor, by arbitration pursuant to this provision and the code of procedures of either the National Arbitration Forum (“NAF”) or the American Arbitration Association (“AAA”), as selected by the Entrant. IF ARBITRATION IS CHOSEN BY ANY PARTY WITH RESPECT TO A CLAIM, NEITHER PARTY WILL HAVE THE RIGHT TO LITIGATE THAT CLAIM IN COURT OR HAVE A JURY TRIAL ON THAT CLAIM. FURTHER, NEITHER SPONSOR NOR ENTRANT WILL HAVE THE RIGHT TO PARTICIPATE IN A REPRESENTATIVE CAPACITY ON BEHALF OF THE GENERAL PUBLIC OR OTHER PERSONS SIMILARLY SITUATED, OR AS A MEMBER OF ANY CLASS OF CLAIMANTS PERTAINING TO ANY CLAIM SUBJECT TO ARBITRATION. EXCEPT AS SET FORTH BELOW, THE ARBITRATOR’S DECISION WILL BE FINAL AND BINDING. NOTE THAT OTHER RIGHTS THAT ENTRANT WOULD HAVE IF ENTRANT WENT TO COURT ALSO MAY NOT BE AVAILABLE IN ARBITRATION. ANY CLAIMS, JUDGMENTS AND/OR AWARDS SHALL BE LIMITED TO ACTUAL OUT-OF-POCKET COSTS ASSOCIATED WITH ENTERING THIS SWEEPSTAKES. ENTRANT HEREBY WAIVES ANY RIGHTS OR CLAIMS TO ATTORNEY’S FEES, INDIRECT, SPECIAL, PUNITIVE, INCIDENTAL OR CONSEQUENTIAL DAMAGES OF ENTRANT, WHETHER FORESEEABLE OR NOT AND WHETHER BASED ON NEGLIGENCE OR OTHERWISE. The arbitrator’s authority to resolve Claims is limited to Claims between Sponsor and Entrant alone, and the arbitrator’s authority to make awards is limited to awards to Sponsor and Entrant alone. Furthermore, claims brought by either party against the other may not be joined or consolidated in arbitration with Claims brought by or against any third party, unless agreed to in writing by all parties. No arbitration award or decision will have any preclusive effect as to issues or claims in any dispute with anyone who is not a named party to the arbitration. Notwithstanding any other provision in these Rules and without waiving either party’s right to appeal such decision, should any portion of this provision be deemed invalid or unenforceable, then the entire provision (other than this sentence) shall not apply.
In the event there is a discrepancy or inconsistency between disclosures or other statements contained in any Sweepstakes-related materials or made by any representative of Sponsor, and the terms and conditions of these Rules, these Rules shall prevail, govern, and control.
SPONSOR: Social Finance Inc., 234 First Street, San Francisco, CA 94105.
ADMINISTRATOR: Ventura Associates International LLC, 494 Eighth Avenue, Suite 1700, New York, NY 10001.
SEVERABILITY: The invalidity or unenforceability of any provision of these Rules shall not affect the validity or enforceability of any other provision. In the event any provision is determined to be invalid or otherwise unenforceable or illegal, these Rules shall otherwise remain in effect and shall be construed in accordance with their terms as if the invalid or illegal provision were not contained herein.
WINNER’S LIST: For the Winner’s Name (available after February 10, 2023), send a self-addressed, stamped envelope by February 10, 2023 to: The SoFi Glow Up Sweepstakes Winner’s List Request, c/o: Ventura Associates International LLC, 494 Eighth Avenue – Dept: DE, Suite 1700, New York, NY 10001.
This Sweepstakes is in no way promoted, endorsed, or administered by, or associated with any social media entity, including, but not limited to TikTok, Meta, and/or YouTube. Any questions, comments or complaints regarding the Sweepstakes must be directed to the Sponsor or Administrator, and not to any social media entity.