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💰 Earn Up to a $400 Checking Account Bonus

Conor Keenan By: | Updated: October 08, 2026
Accredited Wealth Management Advisor® designee with 10+ years covering banking & investing. His work has appeared in The Wall Street Journal, Reuters & Yahoo Finance.

Editorial Independence: Opinions, recommendations, and reviews are our own. Partner commissions help keep our site free. They do not influence our editorial content.

SoFi® Checking and Savings is offering an up to $400 cash bonus when you set up direct deposit. On top of that, you can earn up to 4.20% Annual Percentage Yield (APY) on savings balances (with qualifying activities) and 0.50% APY on checking balances—without monthly fees, overdraft fees, or account minimums. Terms Applyⓘ Member FDIC.

🎁 How Much Can You Earn?

The amount you can earn depends on how much your eligible direct deposits are during your 25-day bonus period.

Eligible Direct Deposits Cash Bonus
$1 – $999.99 $0
$1,000 – $4,999.99 $50
$5,000+ $400

SoFi totals eligible direct deposits received during the 25 calendar days beginning with your first eligible direct deposit of $1 or more. Terms and eligibility requirements apply.

👉 Open Your SoFi Checking & Savings Account Today →
on SoFi's secure site, Member FDIC

🎯 How to Earn the SoFi Checking Account Bonus

Qualifying for the SoFi checking account bonus is relatively simple. Here's how it works:

  1. Open SoFi Checking and Savings.
    Open your account online and get your account and routing information so you're ready to set up direct deposit.
  2. Set Up an Eligible Direct Deposit.
    Have qualifying recurring income, such as payroll, pension, benefits, or other eligible income, deposited into your SoFi Checking or Savings account.
  3. Your 25-Day Bonus Period Begins.
    Once SoFi receives and recognizes your first eligible direct deposit of $1 or more, your 25-calendar-day measurement period begins.
  4. Reach Your Bonus Tier.
    Receive $1,000–$4,999.99 in total eligible direct deposits during the 25-day period to earn $50. Receive $5,000 or more to earn the full $400 bonus.
  5. Get Your Cash Bonus.
    Once you've completed the promotion requirements, SoFi deposits the applicable bonus into your SoFi Checking account.

Important: Regular bank transfers don't necessarily count toward the bonus. The promotion is based on deposits that meet SoFi's definition of an Eligible Direct Deposit.

👉 Open Your SoFi Checking & Savings Account Today →
on SoFi's secure site, Member FDIC

✨ Benefits That Continue After the Bonus

A checking account bonus can be a great reason to switch banks. But once the bonus is paid, you still want an account that's worth keeping.

SoFi Checking and Savings offers several ongoing benefits that can continue providing value long after the promotion ends:

  • No Account, Service, or Maintenance Fees.
    SoFi doesn't charge account, service, or maintenance fees for SoFi Checking and Savings. Certain transaction fees may still apply.
  • Get Your Paycheck Up to 2 Days Early.
    With eligible direct deposit, SoFi may make your paycheck available up to two days before your scheduled payday. Exact timing can vary.
  • 55,000+ Fee-Free ATMs.
    Access more than 55,000 ATMs through the Allpoint® network without paying a SoFi ATM fee.
  • Checking and Savings Together.
    Opening a SoFi Checking account also opens a SoFi Savings account, giving you one place to manage everyday spending and longer-term savings.
  • Digital Money Management.
    Manage your money online or through the SoFi app with features including transfers, bill pay, debit card controls, and mobile banking tools.

The bottom line: The cash bonus gives you an incentive to switch now, while SoFi's everyday banking features can make the account useful well beyond the promotional period.

👉 Open Your SoFi Checking & Savings Account Today →
on SoFi's secure site, Member FDIC

🛡️ Why Millions of People Use SoFi

Switching checking accounts means trusting a new financial institution with your paycheck and everyday money. SoFi has grown into one of the largest digital financial platforms in the U.S., with 15.8 million members as of Q2 2026.

  • 15.8 Million Members.
    SoFi reported 15.8 million members as of June 30, 2026, with membership growing 35% year over year.
  • Member FDIC.
    SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.
  • Established Financial Institution.
    SoFi was founded in 2011 and today offers banking, lending, investing, credit card, and other financial products through its digital platform.
  • Designed for Digital Banking.
    Customers can manage their checking and savings accounts, debit card, transfers, bill payments, and other everyday banking activity online or through the SoFi app.

👉 Open Your SoFi Checking & Savings Account Today →
on SoFi's secure site, Member FDIC

👤 Who Is This SoFi Checking Offer Best For?

The SoFi checking account promotion may be especially attractive if you're already considering opening a new checking account or changing where your paycheck is deposited.

It may be a good fit if you:

  • Can set up eligible direct deposit.
    The cash bonus is tied to qualifying direct deposits, so this offer makes the most sense for customers who can send payroll or other eligible recurring income to SoFi.
  • Expect to receive at least $1,000 in eligible deposits during the 25-day bonus period.
    That's the minimum required to qualify for the current $50 bonus tier.
  • Could receive $5,000 or more during the bonus period.
    Customers who reach this level of eligible direct deposits can qualify for the full $400 bonus.
  • Want to avoid monthly checking account fees.
    SoFi Checking and Savings does not currently charge account, service, or maintenance fees.
  • Are comfortable banking primarily online.
    SoFi is a digital-first bank, making it particularly well suited to customers who prefer managing their money online or through a mobile app.

If you're already planning to move your direct deposit, the current bonus can provide an extra incentive to make the switch.

 

🚀 Ready to Earn Up to $400 With SoFi?

👉 Open Your SoFi Checking & Savings Account Today →
on SoFi's secure site, Member FDIC

Important information

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