Here are the most common reasons that a referral bonus might be missing.
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The referred friend signed up but did not apply using the referrer’s unique referral invite link.
- The referred friend clicked on the referral link and started to sign up, but then took longer than 14 days to complete registration (for SoFi Money) or 120 days (for SoFi Invest and SoFi Loans).
- The referred friend’s loan application or account has not yet been approved or funded.
- The referred friend has opened an account but hasn’t completed the minimum requirement to receive the bonus (or the funds have not yet settled).
- The referred friend was already a SoFi Member.
- The referrer has already received a referral bonus for this referred friend—we don’t offer multiple bonuses for the same referred friend, even if they sign up for multiple products.
- The referrer or the referred friend lives in Ohio, Michigan, or Vermont.
- We can’t offer welcome bonuses for any new loan members residing in the state of Ohio, even if they used the referrer’s unique referral link.
- We can’t offer SoFi Loans referral bonuses to SoFi members residing in Vermont or Michigan. Vermont also does not allow referral bonus payments to the referrer if the referred loan applicant lives in Vermont (even if the referrer does not).
- Referral bonuses for Michigan residents cannot exceed $500.
- If your bonuses are for SoFi loans, make sure you’ve provided us with the account details for an external bank account and signed a W-9.
If you would like us to research further, please submit a Transaction issue request. On your SoFi Money homepage, simply click on the 'transaction detail' screen, then 'Report an Issue' to begin.
Please allow 24-48 business hours for us to research your request.