Get 1% Bonus on Recurring Investments with SoFi
SoFi Invest has a new bonus for recurring investments where you can earn 1%, up to $1,000. Looks like this is a targeted offer, so you should have received an email about it or you can check your SoFi account. If you don’t have an account, you can also earn a $50 bonus when you sign up.
Offer
Earn 1% on total net recurring purchases (total recurring purchase amount less sales) whenever you make three recurring purchases (pulled from your bank account) of the same security during the incentive period. The max bonus payout per user is $1,000.
This offer period is between now and 9/30/20. All bonuses will be paid within 10 business days of the conclusion of the offer period. Recurring purchases must be continually active from purchase to end of offer period (9/30/2020).
Key Terms
- The offer period is between now and 9/30/2020.
- Recurring purchases pull from your bank account, not your SoFi Invest account balance.
- The max bonus payout per user is $1,000. All bonuses will be paid within 5 business days of the conclusion of the offer period.
- Bonus amounts of $600 or greater in a single calendar year may be reported to the Internal Revenue Service (IRS) as miscellaneous income to the recipient on Form 1099-MISC in the year received by applicable law. 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.
Conclusion
We have seen bonuses of 1% and 3% in the past for funding the account. This new bonus gives you 1% for your recurring investments. However keep in mind that if the money is already in your SoFi Invest account, it cannot be used for recurring investments for this offer. Money will be pulled from your external bank account. Not as good as previous offers in my opinion, but can still be useful for those looking to invest through SoFi.
Let us know if you see the offer in your accounts and whether you plan on taking advantage of this bonus.
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