SoFi Money and Invest now with $75 sign-up bonuses
SoFi has long offered sign-up bonuses for both their Money and Invest accounts. The bonuses have varied, but now SoFi is offering $75 for both their Money and Invest accounts, which is one of the highest. And since SoFi Money and Invest are two separate accounts that each take only minutes to sign-up for with no credit check required, you can get both bonuses for a total of $150.
SoFi Money
The $75 sign-up bonus for SoFi Money, which operates similar to a checking account, requires two direct deposits of at least $500 each. I've written about SoFi Money in the past, and it's a great financial entity as if offers the following benefits:
- Earn 0.2% APY on your account balance.
- No account minimum balance requirements.
- No account fees.
- ATM fees reimbursed worldwide. As long as there is the ATM is displaying the Visa®, Plus®, or NYCE® logo.
- No foreign transaction fees.
- No credit check required to sign-up.
- The cash balance in SoFi Money 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 partner 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).
Through June 30, 2020, SoFi Money is also offering a whooping 20% cashback for DoorDash and select streaming services. And as MasterCard debit card, you'll also be afforded benefits such as purchase assurance (aka. damage and theft protection), extended warranty, and even cell phone protection and satisfaction guarantee (aka. return protection).
SoFi Invest
As their investment product, SoFi Invest is a commission-free trading platform allowing you to purchase stock "slices" instead of whole shares. For example, instead of buying one whole share of Amazon, which is currently priced at over $2,400 a share, you can purchase a slice of Amazon for $100 or whatever set monetary amount you prefer.
The $75 sign-up bonus for SoFi Invest, which also carries no minimums, account fees, or credit checks, requires funding your account with at least $1,000.
Bottom line
With its zero account fees and minimums, SoFi has been dubbed as the gift that keeps giving. It's definitely one of the best cards to travel internationally with no foreign exchange transaction fees and reimbursed ATM fees. They occasionally also offer 20% cashback at select retailers, which is currently the case with Doordash and select streaming services. The $75 sign-up bonuses are essentially free money, and you can sign up for both Money and Invest accounts in minutes without any credit checks for a total bonus of $150.
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