We’re glad you asked, we love perks too!
All members will receive access to the following features when you set up direct deposit:
- Highest APY: You’ll earn our highest APY on the balances of your SoFi Checking and Savings accounts, plus the cumulative total of all Vault balances (See How do I get the Highest APY?)
- Local offers: Get rewarded for using your debit card and earn cash back when you use your SoFi Checking and Savings debit card at local stores and restaurants. Cashback offers rotate, so check the SoFi app frequently to see the most up-to-date list of offers. (See Local Cashback Offers)
- Overdraft Protection: Uses money from your SoFi Savings account to cover a transaction if you are running low on funds.
- Early paycheck deposit: This is often up to 2 days early, but may vary)
- Convert your paycheck into crypto purchases with no fees
- Preferred access to IPOs
- Discounts on personal loans
Please note: There is no minimum direct deposit amount required to earn the highest APY or 2-Day Early Paycheck, however, we do require $1,000 of monthly qualifying direct deposits to unlock No-Fee Overdraft Coverage.
Not sure what the difference is between overdraft protection and overdraft coverage? Visit Overdraft Protection vs. Overdraft Coverage to learn more!