More Free Money: Another $100 Bonus from SoFi Money

Last week, we shared an easy way to get $50 from SoFi Money. Well, it looks like SoFi is just determined to keep giving out money. Who are we to complain?

Let’s jump right to it.

The Offer

SoFi Money is offering an additional $100 when you setup direct deposit with them. The offer went out this morning and doesn’t come with a direct link. You’ll just need to sign-up for direct deposit on your SoFi Money account.

In order to receive the bonus, you’ll need to make at least two direct deposits of $500 each. The first direct deposit has to be made by December 31st, while the second must be made within 31 days of that.  The offer also appears to be targeted, though most new users have reported receiving the email.

Unfortunately, if you’ve already made a direct deposit using SoFi Money, you won’t be eligible for this promotion. T his could be a great and easy way to earn an extra $100 if it isn’t too much of a hassle to setup/change your direct deposit with your employer. For something you’re already doing anyway, that’s pretty great.

The Fine Print

  • 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.
  • 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.
  • 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.

Final Thoughts

SoFi Money really seems eager to get people on board and give them money.

If you’re keeping track at home, thats at least $50 if you signed up last week, another $100 from this, plus $100 for each referral (if you had any). At a minimum, you’re looking at $150 for little to no effort. That’s a winner in my book.

If you haven’t signed up for a SoFi Money account yet, you can do so at this link.

Author: Stephen Hoechst

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