TIMEFRAME: 7/1/2022 12:01AM ET - 06/30/2023 11:59PM ET
Offer: New SMBS Direct Deposit members will receive $100 with a qualifying direct deposit of $1,000.00.
Payout:
- SoFi will credit members who meet the qualification criteria stated below with a one-time cash bonus of $100 deposited into their SoFi Money / Samsung Money by SoFi account within 7 business days of qualification.
Eligibility:
- All new members who join SoFi Money / Samsung Money by SoFi during the Promotion Period and all existing SoFi Members without a prior history of Direct Deposit transactions (“Direct Deposit”) to their SoFi Money / Samsung Money by SoFi account as of the beginning of the Promotion Period are eligible for the Program.
Terms and Conditions:
- In order to qualify for the bonus, an Eligible Participant must have $1,000 or more in total qualified Direct Deposit transactions within any consecutive 30-day window during the Promotion Period.
- Qualifying Direct Deposits must be made from the enrolled member’s employer, payroll, or benefits provider via ACH deposit.
- Deposits that are not from an employer (such as check deposits; P2P transfers such as from PayPal or Venmo, etc.; merchant transactions such as from PayPal, Stripe, Square, etc.; and bank ACH transfers from non-employer financial technology companies such as; Revolut, Wise, or Astra) do not qualify for this promotion.
- This offer cannot be combined with the SoFi Money rate discount on a SoFi loan.
- SoFi reserves the right to exclude any Members from participating in the Program for any reason, including suspected fraud, misuse, or if suspicious activities are observed.
- SoFi also reserves the right to stop or make changes to the Program at any time.
Tax Consequences:
- Bonuses are considered miscellaneous income, and may be reportable to the IRS on Form 1099-MISC (or Form 1042-S, if applicable).
- The recipient is responsible for any applicable federal, state, or local taxes associated with receiving the bonus offer; consult your tax advisor to determine applicable tax consequences.