Checking and savings direct-deposit bonus

SoFi Checking and Savings

SoFi determines account eligibility, approval, and bonus qualification. Terms may change. Verify the latest terms on the official website before applying.

Official Website Last verified July 25, 2026

Verification ledger

Offer terms at a glance

We separate the headline from the conditions required to earn it.

Product name: SoFi Checking and Savings
Financial institution: SoFi
Offer type: Checking and savings direct-deposit bonus
Current bonus: Up to $400
Required deposit or spending: Receive a first eligible direct deposit by December 31, 2026. SoFi then totals eligible direct deposits received during the next 25 calendar days: $1,000–$4,999.99 earns $50, while $5,000 or more earns $400.
Direct deposit requirement: Required. SoFi defines an eligible direct deposit as a recurring ACH deposit of regular income from an employer, payroll or benefits provider, or government agency. Personal bank transfers, wires, checks, tax refunds, and peer-to-peer transfers are excluded.
Minimum balance: No minimum balance is listed for the bonus, but an open SoFi Checking account in good standing is required when payment is made.
Monthly or annual fee: $0 monthly maintenance fee
How to waive the fee: Not applicable; SoFi states it charges no account, service, or maintenance fee.
Eligible states / geographic restrictions: U.S. account-opening eligibility applies. SoFi determines eligibility and may request documentation to verify direct-deposit activity.
Offer deadline: December 31, 2026
Estimated payout timing: Within 7 business days after completing the 25-day measurement period and all published requirements.
Early closure considerations: The SoFi Checking account must remain open and in good standing when the bonus is paid.
Credit inquiry information: SoFi does not state on the public bonus page that opening this deposit account requires a hard credit inquiry.

Who it may suit

People who have never set up direct deposit with SoFi and can route at least $5,000 of eligible income within 25 days.
People who prefer an account without a monthly maintenance fee.

Who it may not suit

People whose eligible income will total less than $1,000 during the measurement period.
People relying on transfers from another personal bank, a payment app, a wire, or an IRS refund.

Net value analysis

What the headline leaves out

The maximum headline value is $400 before potential taxes. Because there is no monthly maintenance fee, the main cost is operational: routing enough eligible income into the account during a short measurement window. The lower tier yields only $50.

Comparison context

How this offer differs

SoFi has no monthly maintenance fee, but its top tier requires five times the qualifying direct deposit of the current Chase Total Checking offer and measures it in a much shorter period.

Important limitations

01Bonuses are limited to one per SoFi member; joint-account activity counts toward the primary account holder’s eligibility.
02Existing members who previously established direct deposit with SoFi are not eligible.
03SoFi decides whether deposits qualify and may request supporting documentation.
04The offer may be changed or ended before the stated deadline.
05SoFi says the bonus may be reportable as miscellaneous income.

Affiliate disclosure

This page currently uses an official, non-affiliate link. BonusMetric does not claim a partnership with SoFi and does not receive compensation for this link.

Frequently asked questions

How do I earn the full $400 SoFi bonus?

SoFi must receive at least $5,000 in total eligible direct deposits during the 25 calendar days beginning when it recognizes your first eligible direct deposit.

Does an ACH transfer from my other bank qualify?

No. SoFi’s published terms exclude bank ACH transfers from external accounts. The deposit must be recurring regular income from an employer, payroll or benefits provider, or government agency.

When does the 25-day period begin?

It begins when SoFi receives and recognizes the first eligible direct deposit of at least $1.

When is the bonus paid?

SoFi says payment arrives in the SoFi Checking account within seven business days after all requirements are completed.