SoFi bonus: current offer and requirements (October 2026)
SoFi's terms state a $50 bonus for $1,000-$4,999.99 in eligible direct deposits, or $400 for at least $5,000, counted over 25 calendar days. New or existing members who have never set up direct deposit with SoFi may qualify. The first eligible deposit must arrive by 31 December 2026.
| Fact | Official terms |
|---|---|
| Reward | $0 below $1,000; $50 at $1,000-$4,999.99; $400 at $5,000 or more |
| Account | SoFi Checking and Savings; bonus paid to Checking |
| Who qualifies | New/existing members who have never set up direct deposit; one bonus per member |
| Action | Recurring ACH income from employer, payroll/benefits provider or government agency |
| Window | 25 calendar days after first recognized eligible deposit of $1 or more |
| First deposit deadline | 31 December 2026; promotion can change or end without notice |
| Payout | Within 7 business days after requirements; account open and in good standing |
| Fees | No account/service/maintenance fee stated; some transaction fees apply |
| Insurance | SoFi Bank, N.A., Member FDIC |
| Source and last verified | https://www.sofi.com/banking/checking-offer/ | 3 October 2026 |
Read the provider’s official terms
How do you qualify?
Check whether you have ever set up direct deposit with SoFi. Route eligible recurring income to SoFi Checking or Savings. Confirm the first recognized deposit date, then total only eligible deposits inside the 25-day window. Keep Checking open and in good standing for payment. For a joint account, only the primary holder's eligibility counts.
Does moving money from another bank count?
No. SoFi excludes bank ACH transfers, wires from external accounts, checks, peer-to-peer transfers such as Zelle, PayPal, Venmo and Wise, merchant transactions and IRS tax refunds. The funding source and recurring income nature matter, not just the transfer rail.
What if payroll is not recognized?
SoFi says some payers do not designate payments as direct deposit. Keep the payer and deposit records and contact SoFi through its official support channel. The terms permit additional documentation; an unrecognized payment is not a reason to invent a workaround.
How much payroll fits the window?
The 25-day clock is short enough that pay frequency matters. If two $2,500 eligible paychecks land within the window, the $5,000 tier is reached. If only one lands, $2,500 is in the $50 tier. This is illustrative arithmetic, not a prediction of payroll dates or an eligibility guarantee.
What costs can remain?
The offer page says no account, service or maintenance fees, but outgoing wires, Instant Transfers and global remittance transfers can carry fees. Check the current fee sheet for your intended use. Do not treat "no monthly fee" as "every transaction is free."
Is it worth it?
Use the tier your payroll can actually meet, subtract expected fees and account-switching effort, and consider whether the account meets ongoing needs. SoFi says bonuses may be reportable as income and taxes are the recipient's responsibility. No APY is quoted because two official pages disagree.
Offer history
3 October 2026: observed public $50/$400 deposit tiers with a 31 December 2026 first-deposit deadline. This is the first logged observation for this page, not a complete history of past SoFi promotions.
Common questions
Can existing members qualify?
The terms include existing members who have never set up direct deposit with SoFi. Having an account is not the same as having prior direct-deposit activity.
Can small deposits combine?
Eligible deposits inside the 25-day window are totaled. The $1 first recognized deposit starts the clock; less than $1,000 total yields no bonus.
Does a tax refund count?
No. IRS tax refunds are listed among excluded deposits.
When should the bonus arrive?
The terms state within 7 business days after all requirements are completed. Checking must remain open and in good standing.
Official sources
- SoFi public offer terms · checked 3 October 2026
- SoFi direct-deposit terms · checked 3 October 2026