Deal has expired, view more SoFi Money deals by clicking here.
Update 2/26/20: Another targeted round went out, check your email. Separately, there’s a referral bonus for new members for $75 with direct deposit; we’ll have a post on that shortly.
The Offer
No direct link, check email for subject <Set up direct deposit. Get $75>
- SoFi Money is offering $75 for users who set up a recurring payroll direct deposit of $500 or more. After receiving two payroll direct deposits, you’ll be eligible for the $75 bonus.
The Fine Print
- Terms and conditions apply.
- Only SoFi Money members who have not previously set up direct deposit and are original recipients of this message (email, sms text, push notification) are eligible.
- To receive the promotional balance, two qualifying payroll direct deposits of at least $500 must be made by the new SoFi Money member’s employer, or payroll provider by ACH deposit within 60 days of receiving this email.
- 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 $75 deposit into their SoFi Money account.
- After receipt, the promotional balance must remain in the account for 30 days.
- This offer is limited to one per person.
- The offer expires on 3/30/2020, at 5pm EDT.
- Participants must comply with the SoFi Money terms of use.
- Any fraudulent or returned funding will result in disqualification.
- Bonus amounts of $600 or greater in a single calendar year may be reported to the Internal Revenue Service (IRS) as miscellaneous income to the recipient on Form 1099-MISC in the year received by applicable law.
- Recipient is responsible for any applicable federal, state or local taxes associated with receiving the bonus offer, consult your tax advisor to determine applicable tax consequences.
- SoFi reserves the right to change or terminate the offer at any time or without notice.
Our Verdict
Not as good as the previous $100 bonus that was offered, but still worth doing if you were targeted.
Hat tip to reader fitzejunk
