SoFi added a new Crypto Referral Program section to its Terms of Service, establishing the mechanics and eligibility requirements for a limited-time promotion running February 4, 2026 through December 31, 2026. The program offers $25 cash bonuses to both referrers and referred members who complete specified activities, including opening SoFi Crypto and Checking/Savings accounts and making a qualifying crypto purchase of at least $50. The updated terms include risk disclosures stating that cryptocurrency and digital assets are not FDIC insured, not bank guaranteed, and may lose value, along with SoFi's reserved right to disqualify participants, withhold bonuses, or terminate the program at any time without notice.
Consumers: To get the $25 bonus, you must open a SoFi Crypto account and Checking/Savings account and make a $50+ crypto purchase within 30 days of using a referral link.
Consumers: Referral bonuses are treated as taxable income and will be reported to the IRS.
The updated terms introduce a limited-time referral promotion offering $25 cash bonuses to both referrers and referred members who complete specified activities during the promotion period (February 4, 2026 through December 31, 2026). To qualify, referrers must have existing SoFi Checking, Savings, and Crypto accounts and share a unique referral link; referred members must click the link, open both a Crypto account and a Checking/Savings account, and make a qualifying crypto purchase of at least $50 within 30 days. The terms explicitly state that cryptocurrency and digital assets are not FDIC insured, not bank guaranteed, and may lose value, and that bonuses are taxable income reportable to the IRS on Form 1099-MISC. SoFi reserves the right to disqualify participants, withhold bonuses, or terminate the program at any time without notice.
→ Review the Crypto Referral Program terms to confirm eligibility and required activities before participating.
→ Ensure you have both a SoFi Checking/Savings account and a SoFi Crypto account to qualify as a referrer.
→ Complete the qualifying crypto purchase of at least $50 within 30 calendar days of clicking a referral link to qualify as a referred member.
Explicitly states that cryptocurrency and digital assets are not FDIC insured, not bank guaranteed, and may lose value.
Bonuses credited within seven business days of confirmed completion; capped at $10,000 cumulative per calendar year across all SoFi referral programs.
SoFi reserves the right to disqualify participants, withhold bonuses, or modify, suspend, or terminate the program at any time without notice.
This change record describes what was added, removed, or modified in the document. Analysis reflects what the updated agreement states or permits. It does not constitute a legal determination about enforceability. Applicability may vary by jurisdiction. Methodology
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