SoFi Money, Earn 5% Cashback Plus $75 Signup Bonus


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SoFi Money 5% plus $75

SoFi Money, Earn 5% Cashback Plus $75 Signup Bonus

SoFi Money is an online cash management account offered by SoFi. It is probably one of the best banking accounts out there for frequent travelers. It also used to earn good interest, but it has now been lowered to 0.20% APY. But the account comes with a free debit card with no ATM fees or foreign transaction fees. There are also some great offers such as 20% off streaming services and delivery apps. Now you can also earn 5% on most purchases, and a $75 bonus. You can read more about the account here.

Earn 5% Cash Back

For each eligible transaction made within 60 days of the date your new SoFi Money Account is opened, SoFi will credit your account for an amount equal to 5% of each eligible purchase, up to a maximum of $100 during the Promotion Period.

The offer is open to new Accounts opened between April 20, 2020 at 12:01AM PT and Jun 30, 2020 at 11:59PM PT and will be in effect for 60 days from the date your new SoFi Money Account is opened. Participation in the Program is open to new SoFi Money Members who reside within the United States, who open new SoFi Money Accounts during the Promotion Period.

Most purchase transactions using your SoFi Money Debit Card are eligible for cash back under the Program. Certain merchants and transactions are excluded, including DoorDash, Disney+, Hulu, Netflix, Spotify, HBO Now, Amazon Prime Video, CBS All Access, Pandora Music, and Google Music. Purchase transactions with the aforementioned excluded merchants are not eligible for the Stimulus Multiplier 5% Cash Back Program, but may remain eligible for other cash back programs offered by SoFi.

You can see the offer here. If you click learn more, you will see the 5% cashback promotion.

SoFi Money

You can also try the direct link if you don’t see the offer.

$75 Bonus

Get a $75 welcome bonus when you sign up for SoFi Money® and make two direct deposits of at least $500 each-plus. You can also refer friends and family to earn $25 for every person that signs up, and they will earn $75 as well. In two player mode, can be a total bonus of $175. And $100 more for every other person after that. Here’s how it works.

  1. Sign up for Sofi Money and make two $500 direct deposits to get $75 Signup Bonus
  2. Generate referral link in app.
  3. Player 2 signs up and makes two $500 direct deposits to get a $75 Signup Bonus plus $25 Referral Bonus for you
  4. Repeat step three for additional $75 Signup Bonus plus $25 Referral Bonus

Referral bonuses and signup bonuses usually post within 3-4 days. If you have any issues with bonuses, or anything else SoFi has a very helpful Live Chat feature during business hours. If the cumulative welcome or referral bonuses paid to an individual in one calendar year exceed $599 USD, you may be required to fill out a Form W-9 prior to fund disbursement.

SoFi Money

Guru’s Wrap-up

A good opportunity for a $75 bonus, but it has been as high as $100 in the past. Two direct deposits are required for the bonus. Right now you also earn 5% cash back on purchases, up to $100.

If this bonus is not for you, then you can check our full list of available bank bonuses. And, if you’re new to bank account bonuses, you can learn more about churning bank accounts here.

HT: Doctor of Credit

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