SoFi is an online bank offering a nice referral and direct deposit sign-up bonus (link below) when opening their combination checking+savings accounts. You can deposit $10+ when you open the account to get the $25 referral sign-up bonus.
On top of that, you can get another $250 bonus by setting up direct deposit of at least $5000 total, as long as it arrives within 25 days of the first direct deposit. For example, with bi-weekly pay, deposit $2500 on day X and $2500 again 14 days later from the next check to meet the requirement. If you are not able to direct deposit $5000 total in 25 days, but you can deposit $1000 or more, you will get a smaller $50 bonus instead.
SoFi also give you a very nice 1.2% APY on anything held in your checking or savings accounts, and you can increase that to 4.3% APY in your savings if you maintain a recurring direct deposit (in any amount) to either of your accounts.
Open a tab in your web browser to my SoFi referral link - https://www.sofi.com/invite/money?gcp=24b6fdde-399e-427e-96e8-5b62f66d1151&isAliasGcp=false. Full disclosure - I get a referrer bonus too if you use my link.
Apply for the accounts with your personal information. This was typical of applying for any bank account, but it seemed very smooth and fast to me.
Assuming you are approved, SoFi will prompt you to add funds to your account. They should give you the option to transfer money from a bank account or instantly deposit a small amount using a debit card. They should waive their debit card fee for new accounts, so you can easily add your $10+ from another checking account this way.
SoFi does not seem to accept deposits from random sources as direct deposits. They are very good at identifying legitimate employer direct deposit sources. That should be alright if your employer makes it easy to change your direct deposit information, or if you want to continue using these accounts after the bonuses. Log in to your SoFi account to get your routing and account numbers. Then set up one or both of the accounts as a deposit account with your employer. Just make sure your deposits will reach the bonus target amount total within the deposit window.
The referral bonus should post into your checking account within a few days. Mine posted the same day I opened the accounts. The direct deposit bonus should post into your checking account within a few days of the 25 day direct deposit window.
If you do not want to continue using the account for your deposits, or if you want to reduce the amount of your deposits, you can change it in your employer pay system now.
If you have no interest in banking with SoFi beyond the sign-up bonuses, you can transfer your money to your preferred bank account and close the SoFi accounts at any time after the bonuses post.
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