How Does an Online Savings Account Work?

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See full bonus and annual percentage yield (APY) terms at sofi.com/banking/checking-offer/ Why We Like It Earn a $50 or $400 bonus with eligible direct deposit 1 <p>New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received within 25 calendar days of your first Eligible Direct Deposit of $1 or more) OR $400 (with at least $5,000 total Eligible Direct Deposits received within 25 calendar days of your first Eligible Direct Deposit of $1 or more). High-yield savings accounts vs. online savings accounts High-yield savings accounts vs.