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A few days ago I talked about SoFi money and the amazing opportunity they are running right now to get $50 when you open up an account (takes 2-3 minutes; no real hoops to jump through) and how you could easily possibly leverage that into $150 or more through other referrals

(SEE ALSO: This is how you can get an easy $50 (and maybe up to $150) with SoFi Money)

SoFi direct deposit bonus

Now, several folks have reported (M2M, DoC) that many SoFi members are getting an email offering $100 if they set up 2 direct deposits of $500 or more into their account

  • Only SoFi Money members without any history of direct deposit transactions as of 11/07/2019 are eligible.
  • To receive the bonus offer, a payroll direct deposit of at least $500 must be made by the SoFi Money member’s employer, or payroll provider by ACH deposit before 12/31.
  • A second deposit from the same employer must then be made to the member’s SoFi Money account within 31 days of the initial direct deposit.
  • Direct 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.
  • Within two weeks of the second direct deposit clearing, qualifying participants will receive a $100 deposit into their SoFi Money account.
  • This offer is limited to one per person and is limited to recipients of this email.
  • The offer expires on 12/31/2019, at 5pm EST.

If you got the email, I’d say it generally makes sense to take advantage of it, depending on how easy it is for you to massage your direct deposits. For us, it’s all taken care of online, so it would be easy enough to make this change and then adjust it going forward if needed.

The offer does to be targeted, but we are still figuring out exactly who is getting targeted and whether or not you are still eligible to get the $100 bonus if you don’t get the email

How to get your $50 (or more!) from SoFi

Getting your $50 signup bonus is only currently available through referral links and is super easy. Signing up takes about 2-3 minutes and involves filling out your personal information and linking a bank account for an ACH transfer. You have to put in $100 and in my case, the $50 bonus posted the next day.

This truly is a no-brainer IMO.

Then, if you’re playing in 2 player mode or have another trusted person, you can refer them – that’s where the $200 comes in.

  • Use my SoFi referral link (or anyone else’s, if you … sniff… don’t love me 😀 ) to open an account – you’ll get $50
  • Then you refer your spouse or other trusted friend – they get $50 and you get $50 for the referral (EDIT: originally the referral bonus was $100 but now it’s $50)
  • Total of $150 to the good, and then you can keep chaining referrals if you want

What do you think of SoFi money? Leave your thoughts on the service in the comments


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