Replace 10/5/25: Swagbucks again as much as $415 for some. 

Replace 9/8/25: Rakuten again at $375/37,500

Inboxdollars is $415 for some

Replace 9/1/25: $375/37,500 from Rakuten + $300 from SoFi. Not so good as the current $400 deal however shut. (Strive stacking with this deal for a further $75 with SoFi Plus.)

Replace 7/30/25: $400/40,000 from Rakuten + $300 from SoFi. Highest ever. As we speak solely. (Strive stacking with this deal for a further $75 with SoFi Plus.)

Replace 7/23/25: Many individuals obtained an e mail from Rakuten that subsequent week the supply will probably be $400/40,000. Highest ever.

Replace 7/19/25: $375 in Rakuten app accessible once more (ht ShawntheShawn)

Replace 7/2/25: $375/37,500 Rakuten now accessible on-line or the Rakuten app. This matches the very best supply ever. Replace: TCB is now at $350. 

Replace 6/2/25: $350/35,000 by way of Rakuten web site or $375/37,500 by way of the Rakuten app. This matches the very best supply ever.

(Expired) Replace 6/12/25: $300/30,000 on Rakuten is again (ht Not Sam)

(Expired) Replace 6/4/25: The $300/30,000 model is again

Replace 5/25/25: [Expired] Lots of people are seeing $375/37,500 on Rakuten.

Rakuten hyperlink | Swagbucks hyperlink | one other Swagbucks hyperlink | MyPoints hyperlink

Supply at a look

• Most bonus quantity: $50 – $300
• Availability: Nationwide
•  Direct deposit required: Sure, $1,000 – $5,000
• Extra necessities: None
• Arduous/delicate pull: Mushy (see additionally this remark)
• Bank card funding: None
• Month-to-month charges: None
• Early account termination charge: ?
• Family restrict: None listed
• Expiration date:  Could 31, 2022 July 31, 2022 September 30, 2022 January 31, 2023

The Supply

Direct hyperlink to supply | Phrases

• SoFi is providing bonus of as much as $300 for brand new clients who signup for his or her SoFi hybrid checking & financial savings account and obtain direct deposit inside 30 days:
  • Get $50 bonus with direct deposit of $1,000 – $1,999
  • Get $100 bonus with direct deposit of $2,000 – $4,999
  • Get $300 bonus with direct deposit of $5,000+

They appear to have rebranded from ‘SoFi Cash’ to ‘SoFi Checking and Financial savings’.

The Positive Print

• Eligible Members: All new members who open a SoFi Checking and Financial savings account through the Promotion Interval and all current SoFi Checkings and Financial savings clients who haven’t beforehand arrange Direct Deposit transactions (“Direct Deposit”) into their SoFi Checking and Financial savings account as of the start of the Promotion Interval are eligible for the Program.
• Bonus Phrases:In an effort to qualify for eligibility for a bonus, SoFi should obtain no less than one Qualifying Direct Deposit (as outlined under) from an Eligible Participant earlier than the top of the Promotion Interval. Qualifying Direct Deposits are outlined as deposits of $1,000.00 or larger from an enrolled member’s employer, payroll, or advantages supplier by way of ACH deposit. Deposits that aren’t from an employer (akin to examine deposits; P2P transfers akin to from PayPal or Venmo, and so on.; service provider transactions akin to from PayPal, Stripe, Sq., and so on.; and exterior financial institution ACH transfers not from employers) and financial institution ACH transfers not from employers) don’t qualify for this Direct Deposit promotion. The quantity of the bonus, if any, will probably be calculated through the Analysis Interval as described and outlined under.
• Analysis Interval: The bonus quantity will fluctuate primarily based on the full quantity of Qualifying Direct Deposits obtained through the Analysis Interval. The Analysis Interval is outlined as 25 days from the date your first Qualifying Direct Deposit is obtained. For instance, when you obtain $1,000-$1,999 in Qualifying Direct Deposits within the Analysis Interval, you’ll obtain a money bonus of $50. A member could solely qualify for one bonus tier and won’t be eligible for future bonus funds if inflows subsequently improve past the Analysis Interval.
• Whole Qualifying Direct Deposit quantity in 30-day Analysis Interval Money bonus
• Fee timeline: SoFi will credit score members who meet qualification standards inside 14 days of the top of the Analysis Interval.
• This supply can’t be mixed with the SoFi Checking and Financial savings Direct Deposit price low cost on a SoFi private mortgage. Bonuses are thought-about miscellaneous revenue, and could also be reportable to the IRS on Type 1099-MISC (or Type 1042-S, if relevant). SoFi reserves the appropriate to exclude any Members from collaborating within the Program for any motive, together with suspected fraud, misuse, or if suspicious actions are noticed. SoFi additionally reserves the appropriate to cease or make modifications to the Program at any time.

Avoiding Charges

Month-to-month Charges

This account doesn’t have any month-to-month charges to fret about.

Early Account Termination Price

Undecided if there’s any early termination charge or not, however there isn’t any month-to-month charge and it’s value holding the account open long run for the spending bonuses.

Replace Historical past

• Replace 5/12/25: Lots of people who noticed the Rakuten bonus all the way down to $300 at the moment are seeing it again as much as $375. (Personally mine dipped from $375 to $300 and nonetheless is exhibiting $300 now.) Hat tip to r/churning
• Replace 5/4/25: $375 now on Rakuten, highest ever. (ht not sam and max) Replace: apparently others are seeing $300 on Rakuten. That’s nonetheless from the most effective presents we’ve seen.
• Replace 4/7/25: Elevated barely to $265 and like $280 on Swagbucks/MyPoints. Nonetheless $250 on Rakuten.
• Replace 3/18/25: Presently the most effective presents are $250 on Rakuten, $230 on Swagbucks, and round $245 on MyPoints now. That’s on high of the $300 from SoFi.
• Replace 10/6/24: It’s as much as $355 by way of the Rakuten app (app supply solely). Mixed with the $300 SoFi providing, this maxes out at $655 which is the very best ever. (ht Xander and yapp) Replace: now $350 on Rakuten web site as nicely
• Replace 8/20/24: The $350 Rakuten deal is expired. Greatest now’s $230-$250 from SB/MP, plus the $300 from SoFi.
• Replace 8/19/24: Rakuten is now as much as $350 which might result in a complete bonus of $650. Wow. (ht Peter and Jim)
• Replace 7/15/24: Rakuten is now as much as $250/25,000; matches the most effective supply we’ve seen. MyPoints is round $250, Swagbucks $230. (ht Shawntheshawn)
• Replace: Now $200 and $300 for a complete of $500.
• Replace 5/6/24: Rakuten is as much as $250 and SoFi is at $300. I consider this $550 is the very best ever (and a few folks would possibly even worth Rakuten at even greater than $250).
• Replace 3/17/24: Each Rakuten and Swagbucks at $200 now; plus $300 from SoFi (ht Churnbaby)
• Replace 3/1/24: Presently $200 from Swagbucks and $300 from SoFi.
• Replace 11/26/23: Each Rakuten and Swagbucks at $200 now; plus $250 from SoFi (ht PN)
• Replace 11/25/23: Again to $200 on Swagbucks or $175 on Rakuten.
• Replace 10/18/23: Elevated on Rakuten to $200/20,000
• Replace 10/13/23: That is nonetheless on Swagbucks for 20,000 ($200). It’s now additionally on Rakuten for $175/17,500 which some folks would possibly want. And you may nonetheless get $250 on high of that from SoFi immediately if you use both hyperlink. (ht ShawntheShawn)
• Replace 6/26/23: Swagbucks is now as much as $200 with $200 direct deposit. Plus you’ll get $250 from SoFi when you obtain  $5,000 in direct deposits. Not so good as the all time highs of $520 whole however now it’s shut. (ht @addingpennies)
• Replace 4/28/23: Swagbucks/MyPoints at the moment are at an additional $150 for $400 whole. Not so good as the all time highs of $520 whole however nonetheless a pleasant deal. Replace 11/17/22: The Swagbucks/MP half is gone proper now. The SoFi half remains to be at $250. Replace 10/30/22: Swagbucks nonetheless at $220, however SoFi bonus half is all the way down to $250 now (down from $300). Whole bonus now of $470; Replace 10/21/22: Swagbucks is now $220 on the house web page + $300 SoFi bonus; Replace 9/30/22: The $175 Swagbucks supply is again (direct hyperlink) and – like earlier than – it hyperlinks to the $300 direct deposit bonus web page. Whole $475 bonus attainable. The $300 deal is legitimate from 10/1/22 by means of 12/31/22. Replace 8/21/22: The $300 obtained prolonged till September thirtieth, the extra $175 Swagbucks bonus has nonetheless not returned. There’s a brand new referral supply which provides $325: $25 instantly when signing up and depositing $10, plus $300 bonus with direct deposit talked about under. That’s $25 higher than the general public hyperlink under. I don’t assume we’ll make a referral thread for this now, you’ll be able to google round to discover a referral hyperlink. It is perhaps smarter to attend to see if one other Swagbucks offers comes again. Replace 6/20/22: Swagbucks/MP part is gone for now. The $300 supply remains to be round.Replace 6/14/22: Swagbucks is all the way down to $75 now and MyPoints is gone. The $300 SoFi supply remains to be dwell. Replace 5/27/22: The $300 SoFi bonus has been prolonged by means of July. We don’t understand how lengthy the Swagbucks/MyPoints part will final. (One other replace 6/13/22: Reader thedailychurn suggests that when you click on by means of Swagbucks earlier than upgrading your SoFi Cash account to turn into a SoFi Checking & Financial savings account the Swagbucks/MP can observe the improve as a brand new account opening for the $175 bonus. You most likely gained’t get the $300 signup bonus, although, because it’s not a brand new account.) Replace 5/2/22: They introduced again the Swagbucks/MyPoints $175 bonus, so it’s again as much as $475 now. Yay!; Replace 4/24/22: The Swagbucks a part of the deal has expired. The $300 SoFi bonus remains to be accessible.; Replace: This $300 bonus appears to stack fantastic with the $175 Swagbucks deal we posted just a few months again for a complete $475. Merely click on by means of Swagbucks (hyperlink | one other hyperlink | MyPoints) and also you’ll see the $300 supply on the touchdown web page, so it ought to stack. I’m wondering in the event that they’ll pull the Swagbucks supply as this $300 supply rolls out, so I’d join quickly.

Our Verdict

I consider $300 is essentially the most we’ve seen from SoFi Cash bonuses, although this does require a $5,000 direct deposit. Some readers point out within the feedback that SoFi is strict about what they think about to be a ‘direct deposit.’

It’s not clear how rapidly it is advisable to get the direct deposit, however it’s clear that you’ve got 30 days from when your first direct deposit posts to rack up the $5,000 in direct deposits. E.g. when you join on April fifth, get your first direct deposit on Could 1, then you’ve got from Could 1st by means of Could thirtieth to satisfy the $5,000 in mixed whole direct deposits to qualify for the complete $300 bonus.

The fantastic print states that the revenue is perhaps reported on a 1099-MISC kind which would possibly imply that it gained’t get reported in any respect given the $600 minimal required for that kind. Regardless, you’d be legally required to report the bonus.

Individually, the SoFi Cash account is definitely a pleasant account to have your common direct deposit go to since they provide a pleasant, excessive APY price for many who have a month-to-month direct deposit (any quantity) publish to their account. At time of this writing that price is 1.25% APY with no deposit restrict.

There’s one rumor within the feedback that upgrading your current SoFi Cash account to the brand new SoFi checking and financial savings account will probably be eligible for the $300 bonus as nicely (although you’ll lose the free ATMs when upgrading), however I’m not assuming that is true except it will get confirmed.

We’ve added this to our Checklist of Greatest Financial institution Bonuses. 

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