Sofi Checking & Savings Account (2024.4 Update: $525 Offer)

Application Link

Benefits

1. $525 welcome offer, see below for requirements. Offer ends on 2024/06/30.
2. NO ATM fee worldwide. It is said on their official website: “Please note, though SoFi doesn’t charge foreign transaction fees, there is a foreign exchange fee of 1% charged by Visa that is not waived” According to the actual experiences, this means you will pay a 1% fee when make purchases, while it is absolutely free to withdraw cash from ATM.
3. Its interest rate is decent. Currently (2024.4) it offers 4.60% APY.
4. $0 monthly fee, no minimum deposit requirements.

Bonus Requirements

1. Members who previously enrolled in direct deposit into either SoFi Money or SoFi Checking and Savings, whether currently still enrolled or not, do not qualify for this Direct Deposit Promotion.
2. Direct Deposit (DD) requirement: before 2024.06.30, and within 25 days of “Direct Deposit Bonus Period”, do at least $5,000 DD and earn the welcome offer. Note that the “Direct Deposit Bonus Period” begins when SoFi receives a Direct Deposit and ends 25 calendar days later, not begins on the account opening day.

Summary

Sofi is a new and fast growing fintech company. This account is good in terms of UI and it has no fees. The welcome offer is very generous.

Application Link

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