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Making an Easy $300+ with SoFi Money, Invest, and Loan Referral Program | Make Up to $10,000

Make an easy return on your money by participating in Sofi’s referral program. It’s as simple as opening a SoFi Money account through a referral link and depositing $100. That’s all it takes to get a $50 bonus added to your account. Then, get $100 for every person, friend, and family member who opens an account with your referral link.

Turn around and do the same with a SoFi Invest account and get another $50 bonus for opening the account and then $50 for anyone who does the same with your referral link.

Additionally, apply for and get a SoFi Personal Loan, or a SoFi Student Loan Refi to earn a $100 bonus and then $300 for anyone who uses your referral link. In total you can earn up to $10,000!

Update: 11/27/19: SoFi has partnered with Lyft. For now until 02-18-2020 every time you use your SoFi Money account to pay for your Lyft rides get 20% cash back! Full offer write-up here.

Update: 11/25/19: The SoFi Money welcome bonus has decreased to $25 (when you deposit at least a $100) and the referral bonus has decreased to $25 as well.

Update: 11/09/19: SoFi has increased both referral (from $50 to $100) and welcome bonuses (from $50 in stock to $100 in stock) for new SoFi Active Investing accounts. However, they have also increased the required minimum deposit (from $100 to $1000) to qualify for the bonus (only for SoFi Invest).

Update: 11/08/19: The referral bonus for the SoFi Money account has dropped from $100 to $50. In other words, the person opening a new SoFi Money account still receives $50 (when depositing $100 or more) and you’ll now receive $50 per referral (instead of $100). This is still a great and easy way to make several hundred dollars in cash and stock if you refer your spouse and family members!

Update: 11/07/19: We both received an email from SoFi offering an additional $100 bonus cash per account if we setup direct deposit (two recurring deposits of at least $500). While we can’t guarantee that all new accounts will also get this additional bonus offer, we don’t see why not. It’s hard to say ‘no’ to an additional $200 for about 20 minutes of time!


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Tip of the hat to Frequent Miler for this tip!

As soon as we learned of the SoFi referral program we wanted to know more!

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Overview of the Deal

  1. Use a referral link to open a SoFi Money account (if you’d like to support our site, use our referral link, we’ll be incredibly appreciative!).

  2. Fund the account with at least $100 within 14 days.

  3. Receive a $50 bonus (we got ours within a day).

  4. Refer new members to a SoFi Money account and get a $100 bonus for each person.

  5. Earn up to $10,000 in bonuses.

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So, What’s SoFi?

SoFi, short for Social Finance, is a digital personal finance company providing cash management accounts, student loan refinancing, mortgages, and personal loans.

Originally SoFi had an alumni-funded lending model, connecting graduates and institutional investors with students.

Today SoFi’s product offering has expanded and their model is uses a non-traditional underwriting approach. They lend to responsible, low risk individuals by considering a borrowers free cash flow, professional history, education, and on-time bill payment.

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Easy Money - SoFi Referral Program

There are a few different types of accounts that are currently part of the SoFi referral program. You can stack the SoFi Money referral program with the Invest account and the Personal Loan/Student Loan Refi.

You’ll only earn one referral bonus per referral. For example, if your referral person opens multiple SoFi Money accounts, you’ll only receive one $100 bonus and they’ll only receive one $50 bonus.

All bonuses are capped at $10,000.

Tip: If you’re considering the SoFi Invest account referral program open it NOW because it’s scheduled to expire October 31, 2019.

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SoFi Money Account

SoFi Money is a cash management account, not a bank account as it’s offered by a broker dealer.

Account Features

  • 1.8% variable APY

  • No monthly fees

  • No overdraft fees

  • No direct deposit required

  • No monthly minimums

  • ATM fee reimbursement, worldwide

$50 Referral Bonus for Opening an Account + $100 per Referral

  1. Use a referral link to open a SoFi Money account (if you’d like to support our site, use our referral link, we’ll be incredibly appreciative!).

  2. Fund the account with at least $100 within 14 days.

  3. Receive a $50 bonus (we got ours within a day).

  4. Get your own referral link by downloading the SoFi app (App Store or Google Play) and logging in. Access your referral links from the profile menu within the app (‘Invite friends, earn up to $10k’).

  5. Refer new members and get a $100 bonus for each person who opens an account.

  6. Earn up to $10,000 in bonuses.

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SoFi Invest Account

SoFi Invest is an investing account. You’ll need to sign up separately for the SoFi Invest account, but the process is nearly the same as the SoFi Money account.

$50 Referral Bonus for Opening an Account + $50 per Referral (Expires Oct. 31, 2019)

  1. If you’ve already opened a SoFi Money account, be sure to be logged into your SoFi account before using the SoFi Invest referral link . This will make signing up for the SoFi Invest account easier, as some of your information will be auto-populated.

  2. Use a referral link to open a SoFi Invest account (if you’d like to support our site, use our referral link, we’ll be incredibly appreciative!).

  3. Fund the account with at least $100 (you can fund it from your SoFi Money account or from an already linked bank account!). You don’t need to purchase stock, you just have to fund your new SoFi Invest account.

  4. Receive a bonus of $50 in free stock.

  5. Get your own referral link by downloading the SoFi app (App Store or Google Play) and logging in. Access your referral links from the profile menu within the app (‘Invite friends, earn up to $10k’).

  6. Refer new members and get a $50 bonus for each person who opens an account.

  7. Earn up to $10,000 in bonuses.

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Personal Loans and Student Loan Refi

$100 Referral Bonus for Opening an Account + $300 per Referral

  1. Once you open a SoFi Money account, you’ll receive a your referral link for personal loans and student loan refi.

  2. When someone you refer applies for and has a funded personal or student loan refi they’ll receive a $100 bonus and you’ll receive a $300 bonus.

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Troubleshooting Issues Opening a SoFi Account

Disable Your VPN

For secure web browsing we use a VPN (we recommend either Private Internet Access (VPN) or Express VPN), however when signing up for a SoFi account, be sure you’ve disabled it.

Unfreeze Your Credit Report

Opening a SoFi Money or Invest account doesn’t require a hard pull on your credit, only a soft pull. So, if you’re like us and go the extra step to protect your credit/identity and freeze your credit profiles, be sure to un-freeze it before opening your account. SoFi claims to use Experian to verify your identity, however we temporarily un-froze our credit with all three bureaus just in case.

Don’t Use a VOIP Phone Number

Use a non-VOIP (voice over internet protocol) phone number when signing up for you account.

Use Your Home Address

Use your home address, the one that’s on your credit report, as opposed to your office address.

Trouble Adding Your Bank Account

When adding your initial deposit, if you receive a message that says your bank account cannot be added, try a different bank account, ideally one that you can authenticate by logging in within SoFi (rather than manually inputting your account and routing number).

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Received an Error and Ready to Try Again?

If you get an error and have resolved it (turned off your VPN, un-freeze your credit, etc.) the way to complete your application is to simply re-click on the referral link and start the process over.

Our Experience Opening a SoFi Account

Opening the SoFi Money account was relatively simple… once we’d done a bit of leg work and troubleshooting on our end. We had to temporarily lift the freeze from our credit reports and the first bank we tried to fund the account with didn’t work.

Once past those couple of hurdles it was easy-peasy!

Sergio opened his SoFi Money account and Invest account first. He received the $50 bonus within a day (reports are indicating that it can take up to five days, but for most it’s only one to two days).

A day later Shannon used Sergio’s referral links to open both a SoFi Money account and an Invest account. All in all, we expect that between the two of us, we’ll get a total of $300 in bonuses. For a couple of hours of work (this includes the troubleshooting mentioned above) that’s a great return on investment!