Posted by William Charles on February 26, 2020
Bank Account Bonuses

Published on February 26th, 2020 | by William Charles

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[Expired] [Targeted] SoFi Money $75 Direct Deposit Bonus for Existing Users

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



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Mdam0re

not targeted , 🙁

SpicyPadThai
SpicyPadThai

Not targeted..

Ruger
Ruger

Just got my $100 bonus from the last promo. Wealthfront transfers counted as DD

Max
Max

Did the transfer show up as “Deposit” or “Direct Deposit”? I just did a couple of transfers from Welathfront and they are shoing up as “deposit”. How long after the second one posted did you get the bonus?
Thanks.

Chao Xu

The link says one gets bonus in 2 weeks after the second deposit. It looks like two weeks now. Any updates?

Stefan Krasowski (@rapidtravelchai)

Same issue for me. I signed up for Wealthfront and mine are all showing up as deposit, too, not direct deposit.

bax
bax

Target me again, please 😉

YoniPDX

Not sure how I missed the $100 DD promo – saw was targeted last Nov. hopefully get targeted again.

Dan
Dan

Not seeing it

bob
bob

i’d rather use my DD for Wells Fargo…

Pat
Pat

Got targeted today.

Abstract15
Abstract15

Got a push notification today for this

Peek
Peek

Got an email for this offer today.

MaxPoints
MaxPoints

Got an email today as well. Maybe a new round of targets went out?

Peek
Peek

Must have. Interestingly I only got it for P1 and not P2.

Noe P
Noe P

anyone tried bank transfer that counted as dd?

A M
A M

So many have tried…and failed. Lately anyway. Look through recent comments in various Sofi threads here

Greg
Greg

Just got an email

LXNDSHARK
LXNDSHARK

So this is 2x DD of $500 EACH, not total, correct?

jt
jt

You can get the $75 by a referral link if you are not targeted.

Chuck

Yep, we have a separate post on that.

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