💰 Earn Up to $300 Just for Switching Where You Bank
By: Conor Keenan Last updated October 04, 2025
Conor Keenan, co-founder of CompareAccounts, is a notable personal finance expert with work seen in Wall Street Journal | Associated Press | Reuters | Yahoo Finance
Editorial Independence: Our opinions, reviews, and recommendations are our own. Partner commissions keep our site free, but our content remains independent.
💡 Start with Just $100
There’s no minimum deposit required to open—yet making a first deposit of $100 is a smart move. It helps you get in the habit of using your new account, sets you on the path toward the bonus with direct deposit, and puts more of your everyday money to work at a higher APY than most big banks pay.
🚨 Why Upgrade Your Checking?
- ✅ Up to $300 bonus with qualifying direct deposit (terms apply)
- ✅ Up to 4.50% APY on savings balances (0.50% APY on checking with qualifying activities)
- ✅ $0 monthly fees, $0 overdraft fees, $0 account minimums
- ✅ Fee-free overdraft (eligibility requirements apply)
- ✅ 55,000+ fee-free ATMs with your SoFi Debit Mastercard®
- ✅ Modern, mobile-first banking: transfers, bill pay, mobile check deposit, goals, and more
🏦 Big Bank vs. SoFi (At a Glance)
❌ Typical Big Bank Checking: 0% interest, $10–$15 monthly fees, paychecks hit 2–3 days later, overdraft fees.
✅ SoFi Checking: Up to 4.50% APY on savings (0.50% on checking with qualifying activities), $0 fees, you could get paid up to 2 days early with eligible direct deposit, plus an up to $300 bonus opportunity.
📅 A Better Everyday Banking Experience
Imagine this: your rent is due Thursday, but your paycheck usually hits Friday. With SoFi, you could get paid up to two days early—giving you peace of mind and avoiding last-minute scrambles.
✨Trusted by Millions
SoFi isn’t a newcomer. It’s a publicly traded company with a broad suite of financial products and a rapidly growing member base. SoFi serves over 11.7 million members as of Q2 2025—a testament to its momentum in modern banking.
- ✅ FDIC insured up to $250,000 per depositor
- ✅ Intuitive app experience and responsive support
- ✅ Seamless everyday banking without the “gotchas”
⏳ The Cost of Waiting
Each week you delay is a week of missed interest and slower progress toward your bonus. Starting with $100 today gets your bonus clock ticking and puts your everyday cash to work faster.
🎯 How to Get Started
- Open a SoFi Checking & Savings account online (takes minutes).
- Deposit $100 to begin using your new account and build the habit.
- Set up direct deposit to become eligible for the up to $300 bonus and to unlock the highest savings APY (qualifying activities required).
- Use your account daily: pay bills, move money, and take advantage of 55,000+ fee-free ATMs.
✨ Why It Stands Out
- 💵 Bonus + APY combo: Rare to see a checking package that offers both a sizable bonus and competitive savings APY.
- 💳 No-fee design: No monthly fees, no overdraft fees, and no minimums means fewer surprises.
- ⚡ Everyday flexibility: You could get paid up to 2 days early with eligible direct deposit, and you have broad ATM access when you need cash.
Up to $300 Bonus
up to APY
Annual Percentage Yield (APY)
- Checking & Savings Account
- Min. to Open: $0
- Bonus: up to $300 with Direct Depositⓘ
- Up to 4.50% APY on Savings Balances with Qualifying Activities
- $0 Monthly Fees
- FDIC Insured up to $250,000
- Up to $3,000,000 of additional FDIC insurance through a network of participating banks
- Limited Time Offer:
+0.70% Boost to 4.50% APY for up to 6 Months on New Accounts with Eligible Direct Deposit. - Terms Apply
- See Site for Details
1. Up to $300 Bonus Tiered Disclosure
New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible Direct Deposit. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC. SoFi members with Eligible Direct Deposit can earn 4.50% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 4.50% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.
2. APY disclosures
SoFi members who enroll in SoFi Plus with Eligible Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or SoFi members with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 4.50% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. If you have satisfied Eligible Direct Deposit requirements for our highest APY but do not see 4.50% APY on your APY Details page the day after your Eligible Direct Deposit arrives, please contact us at 855-456-7634. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. See the SoFi Plus Terms and Conditions at https://www.sofi.com/terms-of-use/#plus.
3. Fee Policy
We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at sofi.com/legal/banking-fees/.
4. Additional FDIC Insurance
SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at SoFi.com/banking/fdic/sidpterms See list of participating banks at SoFi.com/banking/fdic/receivingbanks
5. ATM Access
We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees incurred when using out-of-network ATMs are not subject to reimbursement. SoFi’s ATM policies are subject to change at our discretion at any time.
6. Early Access to Direct Deposit Funds
Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.
7. Overdraft Coverage
Overdraft Coverage is limited to $50 on debit card purchases only and is an account benefit available to customers with Eligible Direct Deposits of $1,000 or more during the current 30-day Evaluation Period as determined by SoFi Bank, N.A. The 30-Day Evaluation Period refers to the “Start Date” and “End Date” set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the “30-Day Evaluation Period”). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY. Members with a prior history of non-repayment of negative balances are ineligible for Overdraft Coverage.
8. 0.70% Savings APY Boost
Earn up to 4.50% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.80% APY as of 8/5/25) for up to 6 months. Open a new SoFi Checking & Savings account with Eligible Direct Deposit by 1/31/26. Rates variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.
On SoFi's Secure Site,
Member FDIC
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- Earn a cash bonus, up to $3,500, when you open an HSBC Premier checking account by December 31, 2025, AND complete additional qualifying activities.
- Terms Applyⓘ
- See Site for Details
1. Q4’25 New Money Deposit Offer and Extra Cash Bonus for Mobile Registration
Offer valid from October 1, 2025, through and including December 31, 2025 (“Offer Period”). To be eligible for the offer, a customer must be a Premier2 client and have an Eligible Deposit Account open and funded by December 31, 2025.
Definitions:
“Eligible Deposit Account(s)” means a Premier checking account, Premier Savings account, and/or Premier Relationship Savings account open and funded by December 31, 2025, that is held by the client as either the sole account owner or, for joint accounts, as the first named account owner. Certificates of Deposit are not Eligible Deposit Accounts for this offer.
“New Deposits” means money not previously held in a deposit account at HSBC Bank USA, N.A. Whether money was previously held at HSBC is determined at HSBC’s discretion. New Deposits must be added to the Eligible Deposit Account(s) no later than December 31, 2025, to be counted towards this offer.
“Eligible Deposit Balance” means the total balances in the Eligible Deposit Account(s) owned by any of the client(s) named on the Eligible Deposit Account(s).
“Eligible Deposit Balance Increase” means the net balance increase in the client’s Eligible Deposit Account(s) from September 30, 2025, to December 31, 2025.
“Total Deposit Balance” means the Eligible Deposit Balance plus balances held in any other checking, savings and Certificate of Deposit accounts owned by any of the client(s) named on the Eligible Deposit Account(s).
“Total Deposit Balance Increase” means the net increase in the Total Deposit Balance from September 30, 2025 (Baseline Deposit Balance) to December 31, 2025.
“Baseline Deposit Balance” means the Total Deposit Balance as of September 30, 2025. For new clients with HSBC accounts opened after September 30, 2025, the Baseline Deposit Balance is $0.
Terms to Qualify for New Money Cash Bonus:
Client must meet each of the following requirements to qualify for the New Money Cash Bonus:
• Be a Premier client with an open Premier checking account, Premier Savings account and/or Premier Relationship Savings account as of December 31, 2025.
• Add New Deposits of $150,000 or more into a Premier checking account, Premier Savings account and/or Premier Relationship Savings account by December 31, 2025. New Deposits must result in Eligible Deposit Balance Increase of $150,000 or more from September 30, 2025, to December 31, 2025 AND Total Deposit Balance Increase of $150,000 or more from September 30, 2025 (Baseline Deposit Balance) to December 31, 2025.
• Maintain the Eligible Deposit Balance Increase of $150,000 or more AND Total Deposit Balance Increase of $150,000 or more through March 31, 2026.
The New Money Cash Bonus amount is tiered and determined by the client meeting and maintaining the required balance increase in both the Eligible Deposit Account(s) AND Total Deposits:
Balance Increase: Cash Bonus
$150,000-$249,999: $1,000
$250,000-$499,999: $2,500
$500,000+: $3,500
Deposit account balances will be reviewed periodically from January 1, 2026, through March 31, 2026, to confirm the client has met and maintained the required Eligible Deposit Balance Increase and Total Deposit Balance Increase. If the increase in either the client’s Eligible Deposit Balance or Total Deposit Balance varies between January 1, 2026, and March 31, 2026, the lowest of the Eligible Deposit Balance Increase and Total Deposit Balance Increase during that period will determine the client’s Cash Bonus tier.
If all offer requirements are met, the New Money Cash Bonus will be paid into the account to which your New Deposits were added. In the case that you have New Deposits across multiple accounts, the New Money Cash Bonus will be deposited by May 31, 2026, into the account with the highest amount of New Deposits during the Offer Period.
Terms to Qualify for a $25 Extra Cash Bonus
A client who has met all the requirements for the New Money Cash Bonus offer may also qualify for a $25 Extra Cash Bonus when they register and logon to the HSBC US Mobile Banking App during the Offer Period. Clients who have previously registered for mobile banking are not eligible for the $25 Extra Cash Bonus. The offer is only available to clients registering and logging into mobile banking for the first time.
If all requirements are met, the $25 Extra Cash Bonus will be deposited by May 31, 2026, into the same account which the New Money Cash Bonus was deposited.
Any payments may be subject to tax and will be reported to the Internal Revenue Service as required by applicable law.
Additional Terms:
• Offer is non-transferable and available only to individuals who are at least 18 years of age with an Eligible Deposit Account. The Eligible Deposit Account(s) must be open and in good standing including meeting all the terms and conditions of the Eligible Deposit Account (including required minimum balances) at the time of the Cash Bonus fulfillment.
• All promotional offers, products, and services offered by HSBC are subject to updates, modifications, and/or termination by HSBC at any time without notice.
• Clients cannot participate in multiple offers during the Offer Period. For joint accounts, the first name on the joint account is considered the client for the Cash Bonus.
• Offer is only available to Premier clients where permitted. Offer is not available in all jurisdictions.
• If you do not wish to participate in this campaign or if you qualify for this offer and do not want to receive the Cash Bonus and/or future marketing messages for this campaign, please contact us and reference offer name: Q4’25 New Money Deposit Offer. You can Chat with us 24 hours a day, 7 days a week on the HSBC US Mobile Banking App3 or at us.hsbc.com/chatwithus. You can call us at 1-800-622-4722 or outside the U.S. or Canada at 716-841-6866 or contact your Wealth Relationship Manager.
2. To qualify for an HSBC Premier relationship, you need to open an HSBC Premier checking account and meet one of the below requirements. A monthly maintenance fee5 of $50 will be incurred if one of these requirements is not maintained. Refer to your ‘HSBC Premier Terms and Charges Disclosure’ for full details.
• Balances of $100,000 in combined U.S. consumer and qualifying commercial U.S. Dollar deposit and investment6 accounts; OR
• Monthly recurring direct deposits7 totaling at least $5,000 from a third party to an HSBC Premier checking account(s); OR
• Any HSBC U.S. residential mortgage loan serviced by HSBC. Home Equity products, loans that are in foreclosure or bankruptcy, and loans for which servicing rights have been transferred are not included.
3. Data rate charges from your service provider may apply. HSBC Bank USA, N.A. is not responsible for these charges.
4. This information is not intended as a recommendation, offer or solicitation for the purchase or sale of any security or investment strategy. HSBC Securities (USA) Inc. offers a broad range of brokerage, investment advisory (including financial planning) and other services. For additional information on financial planning, including pricing, please read our Client Relationship Summary and Brokerage Brochure.
5. You will not be assessed a Monthly Maintenance Fee for the calendar month in which you open your account and the following 3 calendar months (together, the “Waiver Period”), whether you meet the qualifying criteria or not. If immediately after the “Waiver Period”, you have not met one of the HSBC Premier qualification criteria and your HSBC Premier checking account is charged 3 consecutive Monthly Maintenance Fees, your account will be closed. In addition, any other checking, savings, credit card and Global Money Accounts that you own will be closed, unless you (or a joint account holder on those accounts) hold a different HSBC Premier checking account.
6. Investment and annuity products are offered by HSBC Securities (USA) Inc. (HSI), member NYSE/FINRA/SIPC. HSI is an affiliate of HSBC Bank USA, N.A.
7. Qualifying direct deposits are electronic deposits of regular periodic payments (such as salary, pension, Social Security, or other regular monthly income) deposited through the Automated Clearing House (ACH) network to this account by your employer or an outside agency (please check with your employer or outside agency to determine if they use the ACH network). Direct deposits that do not qualify include but are not limited to transfers from one account to another, mobile deposits, or deposits made at a Wealth Center or ATM.
Mortgage and home equity products are offered in the U.S. by HSBC Bank USA, N.A. and are only available for properties located in the U.S. Subject to credit approval. Borrowers must meet program qualifications. Programs are subject to change. Geographic and other restrictions may apply. Discounts can be canceled or are subject to change at any time and cannot be combined with any other offer or discount.
Deposit products are offered in the U.S. by HSBC Bank USA, N.A. Member FDIC.
Zelle® and the Zelle® related marks are wholly owned by Early Warning Services, LLC and are used herein under license.
HSBC credit cards are issued by HSBC Bank USA, N.A., subject to credit approval and requires a U.S. HSBC checking account relationship. To learn more, speak with an HSBC representative.
For clients located outside of the U.S. - Our products and services are not specifically directed at individuals located in the European Union. Our U.S. representatives, as well as our public website, us.hsbc.com, provide products and services governed by U.S. laws and regulations. Our products and services, as well as their specific terms and conditions, are subject to change and may not be available in all territories or to all customers. If your product requires a contract, application, disclosure, or other document to be signed, such document(s) will be deemed executed in the U.S. and only acted upon after you have signed them and they have been received by HSBC in the U.S. If you are not located in the U.S., the laws and regulations of your country of residence could affect the offering, negotiation, discussion, provision, and/or use of HSBC U.S. products and services. If you are not a U.S. resident, please read the specific cross-border product and service disclaimers, which are available on the Cross Border Disclosure page of our public website at us.hsbc.com/crossborder.
On HSBC's Secure Site,
Member FDIC