How To Create SoFi Money Referrals And Rack Up Easy $$$

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How To Create SoFi Money Referrals

How To Create SoFi Money Referrals And Rack Up Easy $$$

I have been talking about how awesome SoFi Money is for WEEKS.  The program is perfect for travelers and they have a super easy welcome offer.  Plus they also have an amazing referral offer.  It appears everyone else decided to finally wake up to this and it is being written about more and more.  I have had a few questions come up from people after they signed up and I wanted to show you how to create SoFi Money referrals so you can start banking hundreds of dollars!

What Is SoFi Money?

I may be getting ahead of myself a bit.  Before we get into how to create SoFi Money referrals let’s talk about what SoFi Money is.  SoFi money works pretty much the same way a checking account does.  You can do ACH transfers to and from your SoFi account as well as withdraw the money via your ATM card.

It is not a bank account since SoFi is not a bank but your money is still FDIC insured since they deposit your money with partner banks. Here are their terms on that:

The cash balance in SoFi Money accounts is swept to one or more program banks where it earns a variable rate of interest and is eligible for FDIC insurance. FDIC Insurance does not immediately apply. Coverage begins when funds arrive at a partner bank. There are currently seven banks available to accept these deposits, making customers eligible for up to $1,500,000 of FDIC insurance. If the number of available banks changes, or you elect not to use, and/or have existing assets at, one or more of the available banks, the actual amount could be lower. For more information on FDIC insurance coverage, please visit Customers are responsible for monitoring their total assets at each of the Program Banks to determine the extent of available FDIC insurance coverage in accordance with FDIC rules. The deposits in SoFi Money or at Program Banks are not covered by SIPC.

SoFi Money comes with some amazing perks of the account that make it perfect for travelers or anyone else:
  • Fee free account – no minimums or fees of any kind
  • No ATM withdraw fees, including internationally – the withdraw rates even match Charles Schwab, a favorite among travelers.
  • The ATM fees are refunded almost immediately – something Charles Schwab does not do.
  • The account earns 1.6% APY (updated 11/1/19) which is pretty outstanding – this amount will fluctuate as interest rates move. It used to be over 2%.

How To Create SoFi Money Referrals

How To Create SoFi Money Referrals

So now that we got what SoFi Money is and why it is amazing out of the way let’s get down to the business of making money.  SoFi gives you a $50 welcome offer for signing up and depositing $100.  It is that simple and the money shows up in your account usually later that day or the following day.  It does take a few more days to clear so that you can withdraw it. There are no terms about how long you need to keep it in your account etc.

But it gets better, SoFi Money also gives you a $100 referral bonus right now for anyone else you get to sign up.  The bonus is normally $50 but it is increased for the time being.

Everyone is very excited about this, as they should be, but how do you create SoFi Money referrals?  Here is a step by step guide.

Step One: Download the SoFi Money App

How To Create SoFi Money Referrals

You are not able to make referral links for SoFi Money or SoFi Investing on their website.  It can only be done via the app. Here are links to download the app:

Step Two: Click the upper left corner of the home page.

How To Create SoFi Money Referrals

You first need to click the person in the circle in the upper left corner of the home page.  Be sure you are on the home page to see it.


Step Three: Select the Invite Friends, earn up to $10K option

How To Create SoFi Money Referrals

This opens up all of the referral options that you can send out.


Step 4: Select SoFi Money or SoFi Invest to get your links


You then select which product you want to refer.  SoFi Invest also has a $50 referral until 10/31.  The person signing up gets a free $50 in stock after depositing $100 (which can come from your SoFi Money balance).  Remember that you can not get a referral from the same person for the Investment and Money accounts.  They have to come from separate people.

Other Option

There is one other option.  You can simply go to the home screen of the app and refresh it until you see the offer pop up you are looking for.  If you look at the first photo you can see a link for SoFi Money referrals right under the account information.  You can refresh it until the investment referral pops up etc.  There is also a pretty good referral for personal loans if you know anyone that needs one.  I think it is for $300 and the person getting the loan gets $100.

Final Thoughts

If you have already signed up for SoFi Money but haven’t dug into the referral program yet hopefully my how to create SoFi Money referrals guide helps.  If you haven’t signed up for SoFi Money yet what are you waiting for?  People are making hundreds of dollars from this, just in time for the holidays!

Mark Ostermann
Mark Ostermann is a father, husband and miles/points fanatic. He left the corporate world after starting a family in order to be a stay at home dad. Mark is constantly looking at ways to save money and stay within budget while also taking awesome vacations with his family. When he isn't caring for his family or taking a weekend trip, Mark is working towards his goal of visiting every Major League Baseball ballpark.

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  1. Hello Mark,

    For the SoFi ‘Money’ referall, should I wait for my own funds to transfer in (and bonus to post) before trying to send a referral to my wife? Or does it matter?

    Thanks for any and all advice.

  2. Good morning Mark, questions: could I refer my wife if she uses the same checking account number to transfer? Is there any limitation–not allowing the use of an on line account—Capital One 360, Ally, etc.

    • I don’t think it would be an issue but I would use a different account if possible just to be safe. But I am pretty sure it would be fine. I think any account should work. They will give you options to just auto login to pull your account info from the bank but I can’t remember if Cap 360 etc. were an option or not.


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