The SoFi Referral Bonus is a program that allows you to earn a $25 bonus for sharing SoFi Invest. SoFi Invest is a platform that offers Automated Invest and Active Invest accounts. In order to participate in the referral program as a referrer, you must have a SoFi Invest account. The person you refer must open a new SoFi Active Investing Account in order to qualify for the referral bonus.
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SoFi Referral Bonus Overview
The SoFi Invest Referral Program allows current SoFi Invest members to earn a $25 bonus when they invite friends and family to open a new SoFi Active Investing account. To qualify for the referral bonus, the person being referred must use the unique referral link and fund their new account with $10 or more through qualifying transfers within 5 days of registration.
As the referrer, the payout is $25 for each new account opened using your referral link, and there is no limit to the number of people you can refer.
To begin referring friends, simply download the SoFi mobile app and share your unique referral link. Only users with a SoFi Automated Invest or Active Invest account can participate in the referral program, and the referred person must open a new SoFi Active Investing account for both parties to be eligible for the bonus.
SoFi Referral Code Sharing Tips
If you are a SoFi Invest account holder, then you can start earning referral bonuses by sharing your unique link. To maximize your referral bonus earnings, here are some tips on how to share your SoFi referral code:
- Post your link on your social media profiles
- Send your link via email or text message to friends and family
- Share your link on forums or online communities you are a part of
- Add your link to your email signature
To share your SoFi referral link, you can access the SoFi Share page using the SoFi mobile app. Here are the steps:
- Open the SoFi mobile app and log in to your account
- Click on the “Invite Friends” button on the home screen
- Select the Send Code button to either copy or send the referral code via text message or email
Alternatively, you can also click on the Get Shareable Link button to share your SoFi referral link on social media platforms or email it to someone.
SoFi Bonus Offers
SoFi Personal Loan Referral Bonus
Looking to earn some extra cash? Refer a friend to SoFi personal loans and earn a $300 bonus after loan funding with a referral link. To qualify, make sure your friend uses your unique referral link to apply, and the loan must be funded within 90 days of application.
SoFi Online Bank Account Bonus
If you’re looking for a new online bank account, SoFi has got you covered. New customers who open a new account with SoFi Money can earn up to $250 in cash bonuses. To qualify for the bonus, simply enroll in direct deposit and receive qualifying deposits of $500 or more within the first 60 days of account opening. Once you meet the requirements, the bonus will be credited directly to your account.
What Else to Know About SoFi Bonus Offers?
Bonus Taxation
If you are planning to join the SoFi Referral Program and earn bonuses, you must be aware of the tax implications of these bonuses. The Internal Revenue Service (IRS) considers bank bonuses as taxable income. SoFi will report any bonuses and interest you earn to the IRS, and you’ll receive Form 1099-MISC from SoFi around tax time. Therefore, it is crucial to include the bonus amount on your annual tax reports and pay the appropriate taxes.
Eligibility Requirements
If you want to participate in the SoFi bonus offers, there are eligibility requirements that you need to meet. For instance, only SoFi members with an Automated Invest account or Active Invest account can become eligible for the SoFi Invest Referral Program. Additionally, the referee must open a new SoFi Active Investing Account to qualify.
Furthermore, you must refer new checking and savings account customers to take advantage of the “Get $50, Give $25” referral bonus. You get $50 for referring a new customer, and your referee gets a $25 bonus. Both bonuses are credited to your and your referee’s accounts once the new account is funded with at least $500.
Using a SoFi Invest Bonus
SoFi Invest offers a referral program that allows its members to earn a bonus of $25 by referring their friends and family to open a new SoFi Active Investing Account. Here’s how you can take advantage of the bonus:
1. Become a SoFi Invest member
In order to be eligible for the referral program and earn the bonus, you must first be a SoFi Invest member. You can sign up for either an Automated Invest account or an Active Invest account.
Once you become a SoFi Invest member, you can start sharing your unique referral link with your friends and family members. You can send the link via email, text message, or share it on social media. When someone uses your referral link to open a new SoFi Active Investing Account and funds it with $10 or more within 5 days, both you and the person you referred will receive $25 each.
3. Use the bonus wisely
It’s important to remember that the bonus you receive from SoFi Invest is considered taxable income, so it will be reported to the IRS. After receiving the bonus, you can choose to spend it on something that brings you joy or save it to meet your financial goals. Some ideas include paying down debt, starting a college fund, or building emergency savings.
Comparing SoFi to Other Banks
PenFed Credit Union Review 2023
When comparing SoFi to PenFed Credit Union, SoFi has a better offer for investors with its referral bonus program that allows users to earn a $25 bonus for sharing SoFi Invest.
Citibank Review 2023
Compared to Citibank, SoFi’s referral bonus program offers more incentives and opportunities. With SoFi, referrers can earn $25 for each referral that opens a new SoFi Active Investing Account and then funds it with $10 or more within five days of registration.
Capital One 360 Banking Review 2023
SoFi offers a more attractive incentive for new customers compared to Capital One 360 Banking. SoFi offers a $50 bonus for referring a new customer, while Capital One 360 Banking currently does not have any referral bonus promotions.
Synchrony Bank Review 2023
When comparing with Synchrony Bank, SoFi has a more robust incentive program that offers bonuses for referring new customers. SoFi’s referral program offers incentives for both the referrer and the person they referred, while Synchrony Bank currently does not have any referral promotions.
Chime Review 2023
SoFi and Chime’s offers are relatively similar. Both banks offer referral bonuses for both the referrer and the referee. However, with SoFi, the referee must open a new SoFi Active Investing Account, while with Chime, the referee must open a new Chime Spending Account and receive a direct deposit of $200 or more within the first 45 days.
Online Banking Security
It is crucial to protect your online banking information from potential hackers or fraudsters. Some tips include choosing strong and unique passwords, enabling two-factor authentication, avoiding public Wi-Fi, and signing up for account alerts. By following these tips, you can ensure your financial information remains secure.
FAQs
Who is eligible to participate in the SoFi Referral Bonus?
Any SoFi member with an Automated Invest account or Active Invest account is eligible to participate in the SoFi Referral Bonus. However, the referee must open a new SoFi Active Investing Account in order to qualify.
How often can I claim a SoFi Referral Bonus?
You can claim a SoFi Referral Bonus for each new person you refer who meets the requirements of opening a new SoFi Active Investing Account and funding it with at least $10 via qualifying transfers within 5 days of registration. SoFi’s referral program is capped at $10,000 each calendar year, so you can’t earn more than that amount.
What is the maximum referral bonus amount?
The maximum referral bonus amount for SoFi’s referral program is $10,000 each calendar year.
How do I know when I’ve received a SoFi Referral Bonus?
You will receive a notification via email from SoFi once you’ve received a referral bonus. The bonus will also be reflected in your SoFi account balance.
Conclusion
If you’re a SoFi Invest account holder, you can earn a $25 referral bonus by inviting family and friends to open a new SoFi Active Investing Account. The referral bonus is a great way to earn rewards and share the benefits of SoFi, but make sure to keep in mind the cap of $10,000 each year. Remember to use strong and unique passwords, enable two-factor authentication, and stay away from public Wi-Fi to secure your online banking. When it comes to using your bonus, consider allocating a portion to meet your financial goals, such as paying down debt or building emergency savings.
