【Updated 2021.12】SoFi’s classic spending Roundups feature is back. The author maxed out the full $50 in just 3 minutes. In theory, you need to receive the email to be eligible, but the author did not receive the email and still got the bonus. So it appears that any account may be able to participate, YMMV. See below for the specific steps to enable Roundups.
This time, the bonus posts as SoFi Points and usually arrives by the next day. The author’s method takes only about 3 minutes to complete. Just reload Japan’s Suica card with 1 yen using Apple Pay. For more on Suica, see:
Here is the reload record; it completed very quickly.
Then the next day, the points showed up under rewards.
If you complete 50 reloads of 1 yen each within 3 minutes (charged as $0.01), Roundups will automatically pull another $0.99 per transaction from your account into your savings vault. At the same time, you receive 99 SoFi Points, worth $0.99. The points are automatically redeemed into SoFi Money.
【Below is the article from January 2021】
【Update】This promo is pretty nice and posts quickly. Suica really is incredibly useful. You can also feed small amounts to Amazon or buy some low-cost items.
【Below is the article from January 9, 2021】
SoFi Money recently launched a promo like this one (and it seems to come back from time to time). Set up Vaults, then make debit card purchases and round each one up into the Vault. This month, SoFi will additionally match the first $25 in Roundups, effectively making it 2x Roundups, which is almost free money. No separate registration is required, but you do need to enable Vaults.
The basic steps are as follows:
1️ First, you need a SoFi Money account. If you don’t have one, you can consider applying for one.
2️ Create a Vault. Path:
3️ Find a way to make a $0.01, $1.01, or $2.01 purchase using your SoFi Debit card.
- Some phone, internet, water, and electricity bills can be charged for $0.01
- Japan’s Suica card can be reloaded with 1 yen ($0.01), see here
- Amazon Checking + debit reload gift card, $1.01 per transaction
- In states with sales tax, buy a few $0.99 Ting items from Best Buy as backup for porting a number
- WeChat Pay + Pinduoduo is also a place to make charges (as little as RMB 0.01)
SoFi’s official cashback example is as follows:
- After a $0.01 or $1.01 purchase, your debit card will be charged another $0.99 into Vaults, and SoFi will match that $0.99 for you.
- Roundup credits take 1-3 business days to post
- Funds in Vaults can be transferred out at any time and returned to SoFi Money
4️ It is recommended to turn off Roundups after completing the bonus.
Vaults support transfers out at any time. Go back to the Vaults homepage and find Move money to transfer funds out.
Note: It is unclear whether doing 25 separate $0.01 transactions directly carries any risk. Based on prior reports, it seems some people did exactly that and still received the bonus. YMMV.