John wants you to get $325 and to stop paying account fees!

For a limited time, get $25 when you sign up for a SoFi Checking & Savings account and deposit at least $10. Get an additional $3006 and earn up to 2.00% APY1 (66x the national average!!)2 plus free overdraft coverage3 and get paid up to 2 days early with qualifying direct deposits.4 Best of all, you won’t pay any account fees!

Claim your bonus

*You may not use P2P transactions (eg. SoFi’s “Send money to a friend” or by linking your SoFi® debit card to Venmo) to fund your new account.

Helping members reach
financial independence since 2011.


members and counting

We work hard to charge no account fees. With that in mind, our fees charged are subject to change at any time. See our terms and conditions.

Earn more with SoFi

With no account fees and 2.00% APY1, you’ll earn more interest in one week with SoFi
than you would in an entire year in a big bank’s checking or savings account.

Experience 66x the national average checking rate with direct deposit.2

No overdraft, minimum balance or monthly fees. Plus, 55,000+ fee-free ATMs within the Allpoint® Network.5

Plus, score up to $300 when you set up direct deposit.6

Official Rules

The following describes the terms of service which apply to participation in the referral or account opening promotional programs (collectively, the “Referral Programs“) currently offered by Social Finance, Inc. (“SoFi“) and its affiliates. If you wish to participate in any Referral Program described below, you agree to the terms for such Referral Program described in Part I below, as well as the General Terms and Conditions in Part II, which apply to all Referral Programs.

*Please note that any friend whom you’d like to refer must use your specific product referral link in accordance with the terms and conditions associated with the specific promotional campaign for that link. Note you have separate referral links for (1) Personal Loans and Student Loans, (2) Money, (3) Checking and Savings accounts, (4) Invest products, (5) Credit Card, and (6) referring to the app generally. Only one referral reward and one welcome bonus per new customer. You will not receive multiple referral bonuses for the same friend taking advantage of multiple promotions, nor will your friend receive multiple welcome bonuses for taking advantage of multiple promotions. SoFi mortgages are never eligible for the SoFi Referral Program. Additional terms and conditions apply.

Each person referred should be someone you have a direct, personal relationship with. You may not distribute a Referral Link or otherwise solicit anyone through mass email, any form of commercial advertising or other similar means.

SoFi reserves the right to review, investigate, and disqualify anyone from participation in the SoFi Referral Program at any time, and reserves the right to not honor any referral which in our sole discretion was solicited in a manner inconsistent with the spirit or terms and conditions of the SoFi Referral Program.

Furthermore, SoFi Securities reserves the right to seek reimbursement from any customer (including by deduction from their Invest Account) of amounts paid as Referral Bonuses to customers solicited via mass solicitation. Please note that in certain circumstances the deduction of such amounts from their account may result in a negative balance.

Any person referred to a SoFi loan, SoFi Checking or Savings account, or SoFi Credit Card may not have an existing registered SoFi account. A person referred to a SoFi Invest account or SoFi Digital Assets account (for crypto) may have an existing SoFi registered account.

If account funding is required to meet referral bonus payout eligibility, P2P transfers or proceeds of a reward, promotion or similar program are not eligible methods of funding.

To protect the privacy of those you refer, referral prospect account information or eligibility is not, under any circumstances, permitted to be shared with referral promoters.

Program terms—Part I

General terms and conditions—Part II

Broker Check

Rule 606 Order Routing | Statement of Financial Condition

SoFi Checking and Savings is offered through SoFi Bank, National Association. 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 circle's design is a trademark of Mastercard International Incorporated.

1 SoFi members with direct deposit can earn up to 2.00% annual percentage yield (APY) interest on all account balances in their Checking and Savings accounts (including Vaults). Members without direct deposit will earn 1.00% APY on all account balances in Checking and Savings (including Vaults). Interest rates are variable and subject to change at any time. Rate of 2.00% APY is current as of 08/12/2022. Additional information can be found at

2 66x based on FDIC monthly interest checking rate as of August 12, 2022.

3 Overdraft Coverage is limited to $50 on debit card purchases only and is available to customers with monthly direct deposits of $1,000 or more. Members with a prior history of non-repayment of negative balances are ineligible for Overdraft Coverage. We work hard to charge no account fees. With that in mind, our policy on fees is subject to change at any time. See our terms and conditions.

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 We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third party fees incurred when using out-of-network ATMs are not subject to reimbursement. SoFi’s ATM policies are subject to change at our discretion at any time.

6 The following describes the terms that apply to participation in the SoFi Checking and Savings direct deposit program (“Program”) offered by SoFi Bank, N.A Member FDIC (“SoFi”).
Eligible Participants: All new members who open a SoFi Checking and Savings account during the Promotion Period (as defined below) and all existing SoFi Checking and Savings customers who have not previously set up direct deposit transactions into their SoFi Checking and Savings account as of the beginning of the Promotion Period are eligible for the Program. Members who previously received a bonus for enrolling in direct deposit into either SoFi Money or SoFi Checking and Savings do not qualify for this promotion.
Promotion Period: The Program will be available from 4/5/22 12:01AM ET to 9/30/22 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 during 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 bonus amount will vary based on the total amount of Qualifying Direct Deposits received during a 30-day period (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 14 days. For example, if you receive $1,000-$1,999 in Qualifying Direct Deposits in 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 beyond the Evaluation Period.

Total Qualifying Direct Deposit amount in 30-day Evaluation PeriodCash bonus
$1,000 - $1,999$50
$2,000 - $4,999$100
$5,000 or more$300


Payment timeline: SoFi will credit members who meet qualification criteria within 14 days of the end of the Evaluation Period.
This offer cannot be combined with the SoFi Checking and Savings direct deposit rate discount on a SoFi personal loan. 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.

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