Admin Heads up, deal hunters: SoFi is paying $50 or $400 when you open a SoFi Checking and Savings account and set up direct deposit. Open to everyone in the US, all online.
How you earn it: Open a new SoFi Checking and Savings account; receive qualifying direct deposits within 25 days of your first eligible deposit — $1,000 to $4,999.99 earns $50, and $5,000 or more earns the full $400. The bonus lands within 7 business days of meeting the requirements. Both new members and existing SoFi members who’ve never set up direct deposit with SoFi can qualify.
Who’s it for? Anyone who can route their paycheck to SoFi — $5,000 in direct deposits over 25 days gets you the full $400, and even $1,000 gets you $50. On top of the bonus, SoFi is paying up to 4.20% APY on savings with direct deposit.
No promo code needed — just open the account and set up direct deposit. Offer runs through December 31, 2026.
Pros and cons
- Pro: Up to $400 with direct deposit — tiered so even $1,000 earns $50
- Pro: No monthly account fees, no minimum balance
- Pro: Up to 4.20% APY on savings with direct deposit
- Con: Bonus is taxable as interest income
- Con: Online-only bank — no branches
Bonus details
Bonus: $50 or $400.00 — open nationwide (online) — offer ends 2026-12-31. Bonus verified: 2026-10-13T04:30:00Z (UTC). Bank bonuses count as interest income, so you’ll owe taxes on whatever you earn. Terms can change, so confirm the current offer on SoFi’s site before you apply.
