Updated on November 13, 2019

SoFi is offering some nice welcome bonuses when you open accounts. SoFi, or Social Finance, started out doing student loans but now they do much more. You get $50 when open and deposit $100 in a Sofi Money 1.6% cash mgmt account, and $100 in free stock when you open a trading account and deposit $1000. You can easily just deposit $100 and get the $50 bonus and skip the rest. Depositing $1050 (which you can later withdraw), earns you $150 in bonuses. Refer your spouse/family and the bonuses start to add up for everyone.

The bonuses + no ATM fees + no minimums + no monthly fees convinced me to give them a try. I will use this card to get cash from ATMs when I'm traveling without worrying about the fees or searching for my own bank. I was curious about their mortgage rates (refi only right now)… the rates are terrible. The SoFi accounts were quick and painless to setup online.

Plus, earn $25 free Bitcoin when you make your first $10 crypto trade. I'll be skipping that.

How To Claim the $50 and $100 Bonuses

Here's how to get your bonuses. Thanks in advance for using my referral links!

1. Claim your $50 bonus for setting up a SoFi Money account. Be sure to link a bank account and transfer at least $100.
2. Claim your $100 worth of stock and be sure to transfer at least $1000 cash into the account.
3. Send your referral links to your friends and family. Feel free to post your referral link in the comments below — link only, no text. Take your friend out to dinner when the bonus arrives.

Summary of the benefits

• No monthly fees and no deposit requirements
• All ATM fees waived worldwide (Fine print: ATM must display the Visa®, Plus®, or NYCE® logo. SoFi will also reimburse any foreign exchange fees charged by Visa)
• 1.60% APY interest rate on deposits
• $50 Bonus when you deposit at least $100 into a SoFi Money account
• $100 Bonus worth of stock when you deposit at least $1000 into a Sofi Trade account
• Earn refer a friend bonuses, up to $10k per year. $50 for a Money acct, $100 for a trade account
• Community benefits: I'm not yet sure that these will have any value but they are included: Loan discounts, career help transitions & job search, experiences (such as a SoulCycle class in Seattle).

How To Get Your Referral Links

Referral bonuses pay out up to $300 (for personal loans or student loans). To find your referral links, after you sign up, you need to download the app, sign in, click the menu button in the top left corner, then click “Invite friends”. Choose one of the 4 referral links that pop up and share with your friends. See screen shots below. A SoFi Money referral gets you $50 (they get $50 too), SoFi Invest gets you $100 (they get $100 too), Personal Loan gets you $300 (they get $100), Student Loan Refi gets you $300 (they get $100 too)