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, as it gives you
1.80% 1.60% APY and a debit card with no ATM fees or foreign transaction fees. Plus you get an easy $50 signup bonus after you create an account in the app and deposit $100. It takes about two minutes to complete. You can read more about the account here. It’s one of the best options for international travelers.
But now there’s an even greater incentive for signing up, especially for those with a big family or friends who might be willing to sign up as well. SoFi Has increased the referral bonus to $100 (it was previously $50). So if you’re in two player mode for example, you can get a total bonus or $200 for both people, after depositing $200. And $150 more for each person after that. Here’s how that works:
(Update 11/5/2019: Referral bonus has been lowered to $50 again)
- Sign up for Sofi Money and peposit $100 to get $50 Signup Bonus
- Generate referral link in app.
- Player 2 signs up and deposits $100 to get a $50 Signup Bonus plus $100 Referral Bonus for you
- Repeat step three for additional $50 Signup Bonus plus $100 Referral Bonus
There’s even an additional $75 in bonuses for Invest and Crypto accounts. 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, then we may require completion of a Form W-9 prior to fund disbursement.
A great opportunity for very easy bonuses. Plus it is a one of the best accounts to have if you travel abroad often, or even for those who have frequent ATM withdrawals. Those fees are reimbursed quickly, plus you earn a 1.80% APY on your balance. There’s no monthly fees to worry about. Oh, and you also get a cool looking SoFi debit card.