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$50 to $300 SoFi Checking and Savings Account Bonus with Up to 4.60% APY

We get tons of messages asking us where to find the highest interest paying checking or savings account. Here’s a highly recommended option that is the best interest rate you can make without going to a credit union or jumping hoops.

SoFi Money is a cash management account with absolutely no fees. Similar to a regular bank account without all the hassles and fees. They also offer a higher interest rate than most banks. Best of all, all ATM fees are reimbursed when using their debit card, so it is a great account to use when traveling internationally. Also, there is no hard pull that will hurt your credit reports.

Best of all, the sign up offer for the SoFi Money account was just increased to nice $50 – $300 bonus for new sign-ups! SoFi has been around since 2011 and have almost a million people using their app so they are growing significantly to be a competitor to the major banks with it’s high interest payout and easy to use interface and did we mention sign-up bonus!

New App Members Sign Up Offer

There are two new member offers for those signing up for both a SoFi Money and SoFi Invest account this month. As mentioned above, the SoFi Money bonus just increased, although it is still not as high as the bonus you’ll receive with the Sofi Invest bonus. You can get both bonuses because you are eligible to stack the bonus for each account.

Additionally, if you refer friends or family members and they open up either account, you can continue to earn free money. You’ll receive $25 for everyone that opens up a SoFi Money account and $100 for a SoFi Invest account.

To add more to the list of things we like with this app they are currently offering a 20% cash back on Netflix paid with their debit card this is similar to the promotion that they ran with Lyft where we profited over $100 in ride reimbursements last month.

SoFi Checking and Savings Account Bonus: Up to $250 Bonus PLUS 4.60% APY

SoFi Checking and Savings is much like other deposit accounts, except with one big benefit—you can earn up to 4.60% APY on your savings balance, as well as 0.50% APY on your checking balance. New customers can also currently earn a sign-up bonus worth up to $300 just for opening a new Sofi Checking and Savings account and receiving qualifying direct deposits.

You also won’t have to jump through a lot of hoops to earn that elevated annual percentage yield (APY). All you have to do is set up monthly direct deposits of your paycheck or government-issued benefits. You won’t even have to receive a minimum direct deposit amount to earn the increased APY. If you don’t receive monthly direct deposits, you can still earn the top savings rate by depositing $5,000 or more each month.

SoFi Checking and Savings: $250 Bonus
It’s pretty common for banks to offer a welcome bonus when you sign up and meet certain requirements, and the SoFi Checking and Savings account is no different.

New customers can currently earn a one-time bonus of up to $300 when they open a new SoFi Checking and Savings account before December 31, 2024.

Go Here To qualify for the bonus:

Open a new SoFi Checking and Savings Account.
Receive at least $1,000 in qualifying direct deposits within a 25-day “Evaluation Period,” which begins the day your first qualifying direct deposit is received.
Hit the minimum requirement to earn a $50 cash bonus.
Reach the next tier to earn you a $300 bonus.
Once you meet the direct deposit requirement, you’ll receive your bonus within seven business days after the Evaluation Period.

SoFi Money: Earn 10% Back On Whole Foods, Trader Joe’s, Instacart, Netflix & Spotify

SoFi Money is offering 10% back up to $50 for streaming and grocery store merchants.

  • Grocery stores:
    • Instacart
    • Whole Foods
    • Trade Joe’s
  • Streaming services:
    • Netflix
    • Disney+
    • Spotify

Our Thoughts on Sofi

When I tried opening both a SoFi Money and SoFi Invest account it took me just a few minutes to fully get both accounts set up. The process was seamless and transferring money into my account was easy. It’s not nearly as much a hassle as the big bank accounts.

I received my SoFi Money cash bonus within just 3 business days of setting up my account, and I received my free stock from the SoFi Money account within the same time period. I also referred many friends and family members and most of those referrals show up the following day.

It took about a week to receive my debit card. I tried it out on an ATM that charges a fee and I was immediately reimbursed. So far, I truly have enjoyed my new Sofi debit card!

This is a great way to get some money back into your pocket simply by signing up for a debit card account. Unlike credit card welcome offers, there is no minimum amount of spend needed, no hard inquiry, and no guessing whether or not you are going to get approved. Many may just enjoy the benefit of the reimbursed ATM fees.

Referring Friends (or spouse)

To refer a friend, you’ll need to install the SoFi app. (I was able to find it quickly in the App Store). Once in the app, on the upper left-hand side of the welcome screen you’ll see a circle with a person icon enclosed. Click that button.

Then, click the link that says “Invite friends.” From there, you can refer a friend to SoFi Money and SoFi Invest. You can save your referral link and send it to friends, or you can directly send the link via a text message, email, Twitter, Facebook, etc.

Feel free to comment below with your experience and referral links from using SoFi.

High Interest Rate Accounts for a Safe Piggy Bank

Bankladybrokenpiggylogo

High interest checking and savings accounts give customers an edge when they would like to save money. Such customers may want to put away extra funds for college or for a home purchase. They may want to save money for an important vacation. High interest accounts can give them the opportunity to do just that. Several banks offer accounts with interest rates that are above what people call today’s “normal” interest rate. The average APY is rather low at 0.17%. However, some banking institutions offer high-yield accounts with APYs as high as 4 percent. The following is a list of the two top providers of high-interest checking and savings accounts:

[Read more…]

20% Cash Back on Lyft Rides – Pay with SoFi Money Card + $50 Bonus

Get 20% cashback on every Lyft ride when you pay with your SoFi Money card – up to $1,000! Valid now through 2/18/20.

This is nice new benefit on the SoFi Money card, which is already offering a $50 cash bonus when you open an account and deposit $100. New Lyft riders also get $5 credit. I’m surprised they are offering such a generous offer but it does get people to sign up and using their accounts. They might end this early…so you know the drill. If you’re a big spender on ride sharing, you can max out the $1000 cash back if you spend $5000 on Lyft through the expiration data of this promotion.

Get 20% cashback on every Lyft ride when you pay with your SoFi Money card – up to $1,000! Valid now through 2/18/20. This is nice new benefit on the SoFi Money card, which is already offering a $50 cash bonus when you open an account and deposit $100. New Lyft riders also get $5 credit. I’m surprised they are offering such a generous offer but it does get people to sign up and using their accounts. They might end this early…so you know the drill. If you’re a big spender on ride sharing, you can max out the $1000 cash back if you spend $5000 on Lyft through the expiration date of this promotion.

How To Get 20% Off Every Lyft Ride

  1. Open a free Sofi Money account. $50 Bonus: You’ll need to deposit some money anyway to use it so… deposit $100 and you’ll get a $50 cash bonus.
  2. Add your Sofi Money card to your Lyft account and make it your default payment method.
  3. Get 20% cash back every time you pay for your Lyft ride with Sofi Money.

What is a SoFi Money card?

SoFi offers a free cash management account with a $50 bonus offer when you open an account and deposit $100. They also give a $100 bonus worth of stock when you open a trading account and deposit $1000 but that’s a completely separate offer. These are are refer a friend offers. Feel free to use my links and post yours in the comments below. Thank you in advance if you do use our links!

This is nice new benefit on the SoFi Money card, which is already offering a $50 cash bonus when you open an account and deposit $100. New Lyft riders also get $5 credit. I’m surprised they are offering such a generous offer but it does get people to sign up and using their accounts. They might end this early…so you know the drill. If you’re a big spender on ride sharing, you can max out the $1000 cash back if you spend $5000 on Lyft through the expiration date of this promotion.

How To Get 20% Off Every Lyft Ride
Open a free Sofi Money cash management account. $50 Bonus: You’ll need to deposit some money anyway to use it so… deposit $100 and you’ll get a $50 cash bonus.
Add your Sofi Money card to your Lyft account and make it your default payment method.
Get 20% cash back every time you pay for your Lyft ride with Sofi Money.
What is a SoFi Money card?
SoFi offers a free cash management account with a $50 bonus offer when you open an account and deposit $100. They also give a $100 bonus worth of stock when you open a trading account and deposit $1000 but that’s a completely separate offer. These are are refer a friend offers. Feel free to use my links and post yours in the comments below. Thank you in advance if you do use my links!

Fine Print

SoFi Money®? is a cash management account, which is a brokerage product, offered by SoFi Securities LLC. Member FINRA/SIPC. Neither SoFi nor its affiliates is a bank.

SoFi Securities, LLC Member FINRA/SIPC.
¹ The SoFi Money Annual Percentage Yield as of 10/31/2019 is 1.60% APY (1.59% interest rate). Interest rates are variable and subject to change at our discretion, at any time. No minimum balance required.

² The following describes the terms that apply to participation in the SoFi Money Lyft promotional program (“Program”) offered by SoFi Securities LLC (“SoFi”). Promotion with Lyft through the Program is open to current SoFi Money members. No opt-in required. To participate, enter your SoFi Money debit card number in the Lyft app and use it to pay for rides. Promotion Period: 11/20/19 12:00PM EST – 2/18/20 11:59AM EST. Only Lyft rides completed and processed for payment during the Promotion Period are eligible for the Cash Back Promotion. 20% cash back is calculated using the quoted price for your Lyft rides only – it does not apply to other charges such as tips, cancellation fees, and other services such as rental and bike rides. Cash back will be rounded up to the nearest into the participant’s SoFi Money account. Cash back reimbursements can be delayed by up to 14 business days.SoFi reserves the right to terminate the promotion at any time without notice.

Americans putting less than $1,000 in savings – Too low for emergencies

savings_account_piggy_bankIn a few recent polls they found that 62% of Americans have less than $1,000 in their savings accounts and 21% don’t even have a savings account. Many financial experts state you need a lot more money in savings put away for emergencies and retirement. This low of an investment in savings will not cover an emergency and those that come up means people will have to rely on credit, friends and family, or even their retirement accounts.

People faced with an emergency say they would raise the money by reducing spending elsewhere (26%), borrowing from family and/or friends (16%) or using credit cards (12%). According to a U.S. Federal Reserve survey 57% said they’d used some or all of their savings in the Great Recession. The low interest on savings account rates also keeps people from saving.

Only 29% said they have savings above $1,000 with the most common balance of $10,000 or more. One survey said that 9% of people say they keep only enough money in their savings accounts to meet the minimum balance requirements and avoid fees. Bank minimum requirements can vary between $300 a month and $1,500 a month.
[Read more…]

Invest in Lending Club IRA and earn up to $500 Cash Bonus

The Lending Club known for its peer lending network has an offer for a $500 cash bonus with an IRA account investment. The no-fee IRA can be opened with a 401K Rollover, IRA Transfer, or ROTH Conversion, and Traditional, Roth, SEP and Simple IRA account. This offer is valid for New Lending Club IRAs that are opened, have funds transferred, or have funds invested within 90 days of opening the IRA.

When you transfer funds to a new Lending Club IRA account these are the bonus amounts you can earn:
Transfer and invest $5,000 to $9,999 and get a $25 bonus to invest.
Transfer and invest $10,000 to $24,999 and get a $50 bonus to invest.
Transfer and invest $25,000 to $49,999 and get a $125 bonus to invest.
Transfer and invest $50,000 to $99,999 and get a $250 bonus to invest.
Transfer and invest $100,000 or more and get a $500 bonus to invest.
The amount of any bonus will be determined based on both the amount of new funds transferred from external accounts and the amount of those funds invested within 90 days of opening a New Lending Club IRA.

To get this bonus offer click on the “Enroll and Transfer Funds to an IRA” link on the promotional page within your account to open a new Lending Club IRA.
[Read more…]

Synchrony Bank Optimizer Plus with Perks and 1.05% APY High Yield Savings

synchronySynchrony Bank’s Optimizer Plus High Yield Savings account is offering 1.05% APY for all balances with interest rate compounded daily. Synchrony Bank formerly GE Capital Bank has 60 million customer accounts and $35 billion in deposits such as CDs, high yield savings accounts, money market accounts, and IRA CDs. They offer one of the highest interest savings accounts with no monthly fee as long as you keep a $30 minimum balance.

Optimizer Plus banking not only has one of the highest interest rates on the market but gives consumers secure access to manage their accounts such as transaction history, transferring funds and paying bills. The current rate at time of this post is 1.05% APY and is available Nationwide.
[Read more…]

Earn 6% APY + $20 Bonus on up to $5,000

Union_PlusThese two piggies are battling for the highest interest rate under $5,000 but why not have them both!? This is not your normal banking situation but sometimes you have to do some tricks to get a higher interest and that is why we are looking closer at savings with Mango and Union Plus. To get this extremely high interest rate (compared to market) paid on your savings up to $5,000 you would of course need direct deposit or able to transfer via ACH such as Paypal or from another bank such as Etrade.

There are other cards with savings accounts that are similar such as Control Card (5% APY + $20 bonus) and Union plus.  You would need a prepaid card and in the case of Union Plus you need to sign-up for their organization. It’s free to sign-up and anyone can become a member so it’s not too big an obstacle.  With this Union Plus account you can earn up to 5.10% APY with the Savings Account insured by the FDIC. You can open an account with as little as $1 and make up to 6 transfers out each month. You also have the convenience of checking your balance and transferring money from your mobile phone. [Read more…]

Rates Going Up for Savings Accounts

I learned a tough lesson and trusted a financial adviser at my local Chase by investing into Municipal Bonds with the majority of my retirement money. I mostly freaked out about the interest rates going down and it was tempting to do this because it is a way to help to keep my taxes lower. The only problem is that its not making any money. I have lost over $2,000 in these municipal bonds so far and I have to keep the money in the municipal funds for over a year or get a 1% penalty.

As I was listening to someone who is on commission for bad advice I am seeing how much money I could be making in rising savings account rates. HSBC Direct has raised their rate to 3.50% until August 1, and it may even go higher when that promo ends. The first rate increase for nine months happens over at WTDirect from 3.19 to 3.26 APY.

WaMu is also grabbing the attention of customers looking for higher interest rates with the 5.00% Savings Success offer. Walk into your local bank and see what they are offering and search online. If your current bank is still punishing you with low interest from the fed rate cuts then transfer it over to a bank that is keeping up with the competition.