SoFi is probably best known for its student and personal loans products, but they have something called SoFi Money. Essentially, SoFi Money is an online cash management account with no physical bank branches. Instead, SoFi sends you a debit card and you can withdraw money from ATMs worldwide without a fee. Everything is managed online or through their mobile app. And in case you were wondering, the company is legit.
At the moment, SoFi is offering $25 to anyone who signs up for an online cash management account and depositing $100 (SoFi Money) through a personal referral link (like mine here). In turn, the person doing the referring (aka me) would get $25.
Also, a new offer SoFi is promoting is for 20% off Netflix subscriptions if you follow a few easy steps.
- First, if you don’t have one already, sign up for a SoFi Money cash management account (which comes with a Visa debit card) and deposit at least $100 within 14 days and get a $25 bonus
- Enroll in the promo here by February 20, 2020
- Switch your payment method for Netflix to your SoFi debit card
- Get 20% off for the next three months
Starting Out With SoFi
To deposit $100, you can link an existing banking institution to easily transfer funds to SoFi. After a couple of days, the $25 bonus should post onto your account. At this point, you can cash out your money if you’d like. Easy, peasy.
There are no monthly fees, no minimums, no deposit requirements, ATM fee reimbursement worldwide, and a current 1.6% APY (as of 10/31/19).
While I am incentivized if you use my link, this deal makes sense for everyone, no matter whose link you use. It’s a no brainer.
Some Key FAQs Directly From SoFi:
Who can open a SoFi Money cash management account?
How easy is it to sign up for SoFi Money?
Are there any fees for having a SoFi Money account?
Does SoFi provide paper checks?
Here is a full list of FAQs and key terms.
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