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SoFi Blog
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Dec
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Checking Account Bonus
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New Customer Bank Bonus
Earn up to a $300 bank account bonus.
Open a new SoFi Checking and Savings account and earn a $50 or $300 bank account bonus with eligible direct deposit of $1,000 or more. Terms apply.1 No account, overdraft, or monthly fees.2
Open an account
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How to get a bonus of $50 or $300 from SoFi.
Open your account online.
Getting started is simple. Open a new SoFi Checking and Savings account through the SoFi app or website.
Set up direct deposit of at least $1,000.
Set up an eligible direct deposit from your employer, payroll, or benefits provider. To qualify for the $300 bonus, you must receive at least $5,000 in total qualifying direct deposits within a 25-day period.
Get your bonus.
Once you meet the deposit requirement, your bonus will typically be deposited into your account within 7 business days.
Open an account
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Bonus requirements.
Your welcome bonus is based on how much you direct deposit into your SoFi bank account during the 25-day bonus period. Here’s how it breaks down:
| Total direct deposit amount | Bonus amount |
|---|---|
| $1,000-$4,999.99 | $50 |
| $5,000 or more | $300 |
New direct deposits that total less than $1,000 during the 25-day bonus period are not eligible for a bonus.
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Score big with these online bank account features.
No account fees.
No overdraft fees. No minimum balance fees. No monthly account fees.2
9x the national average savings account rate.3
SoFi Savings accounts earn up to 3.60% APY4—an easy way to earn more.
24/7 account monitoring.
Pause or restart spending, freeze or unfreeze your card, and change your PIN—all without ever having to leave home or call a representative.
Two-day early access to your paychecks.5
Once you’ve registered for direct deposit, you’ll be able to get your paycheck ahead of schedule.
Easy-to-use mobile banking.
Pay bills, deposit checks, send money, manage your digital wallet, and get live customer support seven days a week, all in the SoFi app.
Additional FDIC Insurance
Access additional insurance up to $3M on deposits through a seamless network of participating banks.6
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FAQ
To open a SoFi Checking and Savings account, you’ll need to provide some basic personal details, including your name, address, Social Security number, and a valid form of identification.
You can fund your new account via bank transfer, mobile check deposit, or by setting up direct deposit from your employer or benefits provider.
Eligible direct deposits are recurring electronic deposits of your paycheck, pension or government payments (e.g., Social Security) from your employer, benefits provider, or the government.
Simply download this pre-filled form, sign it, and submit it to your employer’s payroll department. Simple as that!
Alternatively, if your employer has an HR portal that allows you to set up direct deposit by inputting your account number and routing number, you can get those logging in to your account.
Members with direct deposit can earn 3.60% APY (annual percentage yield) on savings balances and 0.50% APY on checking balances4. That’s more than 9x the national average savings rate!3 Members without direct deposit can earn 1% on savings balances and 0.50% on checking balances.4
To access your account and routing numbers, log in to your account or go to the Money tab of your SoFi mobile app and tap “More”.
You’ll receive your payout within 7 business days following the 25-day period.
Yes. You don’t need to be a SoFi Plus Member to qualify for the $300 checking account bonus.
SoFi offers access to over 55,000 fee-free ATMs through the Allpoint® Network.7
Read more
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