Checking & Savings Account Bonus: $300 - $400 Cashback with Rakuten and a $300 Bonus from SoFi

How to Earn Up to $400 Cashback with Rakuten

Rakuten is currently offering $300 - $400 for opening a SoFi account with a minimum direct deposit of $500 within 45 days. The amount varies based on your Rakuten account. In my experience, I have never received a 1099 for cashback from Raktuen.

In addition to the cashback from Rakuten, you can also earn up to a $300 bonus when you open an account with SoFi. To qualify, you need to set up direct deposits totaling at least $5,000 within the first 30 days of opening your account. SoFi is a great account with no fees and 3.8% interest on savings which is boosted to 4.5% for the first 6 months.

• Total Direct Deposit Amount Received During Direct Deposit Bonus Period

• Cash Bonus Tier$1.00 - $999.99. $0

• 1,000.00 - $4,999.99. $50

• $5,000.00 or more $300

You can sign-up with Rakuten and get a $30 bonus through my referral here:

www.rakuten.com/r/TIMO46?eeid=28187

Then on Rakuten you can click on the link to sign-up with SoFi. I completed this offer over the summer and recieved $350 in cashback from Rakuten + $300 from SoFi and I wasn't charged any fees.

Bonus Terms:
In order to qualify for a bonus of either $50 OR $300, SoFi must recognize receipt of at least one Eligible Direct Deposit (as defined below) from an Eligible Participant, the first of which must be before the end of the Promotion Period. The amount of the bonus, if any, will be calculated during the Direct Deposit Bonus Period as described and defined below.

Eligible Direct Deposit means a recurring deposit of regular income to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government benefit payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Eligible Direct Deposit”) via the Automated Clearing House (“ACH”) Network.

Although we do our best to recognize all Eligible Direct Deposits, a small number of employers, payroll providers, benefits providers, or government agencies do not designate payments as 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. After SoFi validates the details of your Eligible Direct Deposit, your Direct Deposit Bonus Period will be treated as having started on the date we receive your first Eligible Direct Deposit.

Deposits that are not from an employer or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, or are non-recurring in nature (e.g. IRS tax refunds), do not constitute Eligible Direct Deposit activity. SoFi Bank shall, in its sole discretion, assess each account holder’s Eligible Direct Deposit activity to determine eligibility and may require additional documentation to complete this verification.

Direct Deposit Bonus Period:
The Direct Deposit Bonus Period begins when SoFi receives an Eligible Direct Deposit of $1 or more within the Promotion Period and ends 25 calendar days later (the “Direct Deposit Bonus Period”), subject to the Bonus Terms. For the avoidance of doubt, the Direct Deposit Bonus Period shall not extend beyond the Promotion Period.