Switch your direct deposit to SoFi Money and get $75

Get rewarded for setting up direct deposit from your employer to SoFi Money.¹

This is not an offer, or solicitation of any offer to buy or sell any security, investment or other product. You can find additional information regarding SoFi Securities LLC and its registered persons at FINRA’s website. The firm reserves the right to monitor and retain all incoming and outgoing communications as permitted by applicable law.

The SoFi Money® World Debit Mastercard® is issued by The Bancorp Bank pursuant to license by Mastercard International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

SoFi Securities LLC values your privacy and the security of your personal information so please do not include your social security number in any email or letter that you send to us.

¹ The following describes the terms that apply to participation in the SoFi Money direct deposit promotional program (“Program”) offered by SoFi Securities LLC (“SoFi”). Eligible Participants: All new and existing SoFi Members without a prior history of Direct Deposit transactions (“Direct Deposit”) to their SoFi Money account are eligible for the Program. Enrollment period: Enrollment in the Program will be available from 8/4/20 12:01AM ET to 01/31/21 11:59PM ET. New SoFi Money members who open their account within the enrollment period are automatically enrolled in the Program with the account open date acting as the effective enrollment date. Existing members without a prior history of Direct Deposit transactions (“Direct Deposit”) are automatically enrolled in the Program at the start of the enrollment period. Promotion Period: Enrolled members have until 02/28/21 at 11:59PM ET in order to qualify for the bonus. Bonus Terms: In order to qualify for the bonus an enrolled member must have $500 or more in total qualifying Direct Deposit transactions within the promotion period. Qualifying Direct Deposits must be made from the enrolled member’s employer, payroll, or benefits provider via ACH deposit. Deposits that are not from an employer (such as check deposits; P2P transfers such as from PayPal or Venmo, etc.; merchant transactions such as from PayPal, Stripe, Square, etc.; and bank ACH transfers not from employers) do not qualify for this promotion. SoFi will credit members who meet the qualification criteria stated above with a one-time cash bonus of $75 deposited into their SoFi Money account within two weeks of qualification. Bonuses are considered miscellaneous income, and may be reportable to the IRS on Form 1099-MISC (or Form 1042-S, if applicable). SoFi reserves the right to exclude any Members from participating in the Program for any reason, including suspected fraud, misuse, or if suspicious activities are observed. SoFi also reserves the right to stop or make changes to the Program at any time.

² Vs. traditional transaction accounts. 6x is based on the national average of 0.04% from the weekly rate cap as of 6/29/2020.

³ The cash balance in SoFi Money cash management accounts is swept to one or more program banks where it earns a variable rate of interest and is eligible for FDIC insurance. FDIC Insurance does not immediately apply. Coverage begins when funds arrive at a program bank. There are currently six banks available to accept these deposits, making customers eligible for up to $1,500,000 of FDIC insurance (six banks, $250,000 per bank). If the number of available banks changes, or you elect not to use, and/or have existing assets at, one or more of the available banks, the actual amount could be lower. For more information on FDIC insurance coverage, please visit www.FDIC.gov. Customers are responsible for monitoring their total assets at each of the Program Banks to determine the extent of available FDIC insurance coverage in accordance with FDIC rules. The deposits in SoFi Money or at Program Banks are not covered by SIPC.

No companies, brands or products mentioned or highlighted are affiliated with SoFi, nor do they endorse or sponsor this content. Third party trademarks referenced herein are property of their respective owners.

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© 2020 Social Finance, Inc. All rights reserved.

Offer details¹:

1. Set up direct deposit from your employer to SoFi Money.

2. Receive $500 or more in qualified direct deposits between 8/4/2020 and 02/28/2021.

3. We'll deposit your $75 bonus into your SoFi Money account.

Get rewarded and unlock all the benefits of SoFi Money with direct deposit!

SoFi Money®️ is a cash management account, which is a brokerage product, offered by SoFi Securities LLC. Member FINRA/SIPC. Neither SoFi nor its affiliates is a bank.

What is Direct Deposit?

Direct deposit is by far the most common way to get paid in America. In fact, 82% of U.S. workers get their paychecks electronically as a direct deposit, according to the National Automated Clearing House Association.

Direct deposit is a form of electronic payment. It eliminates the need for a physical deposit, like a paper check. Instead you receive the money directly into your cash management account.

How do I set up Direct Deposit?

Simply download this pre-filled form, sign it, and submit it to your employer’s payroll department. Simple as that!

Alternatively, if your employer has an HR portal that allows you to set up direct deposit by inputting your account number and routing number, you can get those here.

How do I find my account and routing numbers?

To access your account and routing numbers, please click here or go to the Money tab of your SoFi mobile app and tap "More".

Many employers allow you to personally change your direct deposit settings by inputting your account and routing numbers in their HR portal.

Set up direct deposit

Why SoFi Money?

  • No hidden account fees. 
  • Supercharge your savings with 6x national average interest vs spending accounts.²
  • 10% cash back on Netflix, Disney Plus, and Spotify subscriptions. Learn more.
  • Instantly send money to your friends, family, or roommates. For free. 
  • Pause or restart spending, freeze or unfreeze your card, change your pin and assign your trusted contact—all without ever having to leave home or call a representative. 
  • Keep your money safe. Once your money arrives at our partner banks, it is FDIC insured up to $1.5 million.³
Set up direct deposit