Chime vs SoFi: which sign-up bonus fits your paycheck?

Chime vs SoFi: which sign-up bonus pays more?

SoFi pays in tiers on the total of your direct deposits within 25 days of the first one. Chime pays $200 for a single deposit of $500 or more and adds up to $150 in cash back on card purchases, so the size of your paychecks decides which pays more.

Chime's last $150 takes spending. Cash back is 10% of eligible purchases, capped at $50 a month for 90 days, so you would spend about $500 a month on the card to get all of it. Rent, bill payments, gift cards, money transfers and ATM withdrawals do not count. After the first 34 days, Chime only keeps paying cash back if a $500+ qualifying direct deposit arrived within the 34 days before each purchase.

• Under $1,000 in direct deposits within SoFi's 25 days: SoFi pays nothing. Chime still pays $200 if one deposit is $500 or more.
• $1,000 to $4,999.99: SoFi pays $50. Chime pays $200 for the deposit and more if you use the card.
• $5,000 or more: SoFi pays $400 with no spending, more than Chime's $350 maximum.

Is the Chime sign-up bonus still available?

Yes, by invitation. Chime's terms for its $350 Intro Offer say it is valid from March 25, 2026 through January 31, 2027. Some bonus sites say the offer has expired or that Chime has no bonus, and Chime's homepage does not show one. The terms explain why: you need an invitation from Chime by app, text, push notification, email or advertisement, you enroll on the offer page that the ad leads to, and the offer ends if that page is no longer available. Only first-time Chime account holders qualify, and it cannot be combined with other Chime account opening bonuses.

How does the SoFi checking bonus work?

SoFi's Direct Deposit Bonus runs from May 15, 2026 to December 31, 2026 at 11:59 p.m. ET. You open SoFi Checking and Savings and set up direct deposit, and SoFi must receive your first eligible direct deposit of $1 or more by December 31, 2026. It then totals the eligible direct deposits received within 25 calendar days of that first one: $1,000 to $4,999.99 pays $50, $5,000 or more pays $400, and less pays nothing.

The bonus goes into SoFi Checking within 7 business days of meeting the requirements, and the account has to be open and in good standing at that point. Existing SoFi members qualify too if they have never set up direct deposit with SoFi. SoFi limits it to one bonus per member and can change or end the promotion at any time.

What counts as a direct deposit at Chime and SoFi?

Both want income from a payer, not money you move yourself. Chime counts an ACH deposit from your employer, payroll provider, gig economy payer or benefits payer, or an Original Credit Transaction (a push payment to your card) from a gig economy payer. SoFi counts a recurring ACH deposit of regular income, such as payroll, pension or government benefits, from an employer, payroll or benefits provider or government agency.

• Neither counts peer-to-peer transfers such as PayPal or Venmo, transfers from another bank, mobile check deposits or one-time deposits such as tax refunds.
• Chime also leaves out Pay Anyone transfers, verification deposits from other banks and cash deposits.
• SoFi's list also names Zelle and Wise, merchant payments from services such as Stripe or Square, and wires from outside accounts.
• Gig income is the main difference: Chime names gig economy payers, including card push payments, while SoFi requires recurring regular income by ACH.

Chime vs SoFi fees, ATMs and savings rates

Neither account has a monthly fee. SoFi's fee sheet lists $0 for monthly maintenance, minimum balance and overdraft fees. Chime says it charges no monthly fees and no overdraft fees, and its SpotMe feature lets members with $200 or more in qualifying direct deposits each month overdraw without a fee, starting at a $20 limit.

For cash, Chime lists more than 47,000 fee-free ATMs and charges $2.50 per out-of-network ATM transaction. SoFi uses the Allpoint network of 55,000+ ATMs and charges no fee of its own anywhere else, though the ATM operator may.

Savings rates are variable, and both pay their better rate to people who get paid there. SoFi paid 3.30% APY with eligible direct deposit or $5,000 in qualifying deposits every 31 days and 0.80% without, as of September 23, 2026; SoFi Plus, a paid subscription, raised that to 4.50% on the first $20,000. Chime paid 1.00% APY as standard, 3.00% with Chime Plus (one $200 qualifying direct deposit, or $400 in total, in the past 34 days) and 4.00% with Chime Prime ($3,000 or more in the past 34 days), as of October 6, 2026. The high-yield savings calculator shows what a rate is worth on your balance.

Is Chime a bank? Who holds your money at Chime and SoFi?

Chime is not a bank. Its disclosures say Chime is a financial technology company, that banking services are provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC, and that Chime itself is not FDIC-insured. Deposits are insured up to $250,000 through those banks, and Chime notes that certain conditions must be met for pass-through deposit insurance to apply. The FDIC explains that its insurance does not apply if a nonbank company fails, and that pass-through coverage depends on the company keeping records of who owns the money and how much.

SoFi is the bank. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC, which provides up to $250,000 of FDIC insurance per depositor for each ownership category, and SoFi says deposits may be insured up to $3 million through its SoFi Insured Deposit Program.

Are Chime and SoFi bonuses taxable?

Yes. SoFi treats its bonus as miscellaneous income that may be reported to the IRS on Form 1099-MISC. Chime's offer terms say credits of $10 or more are reported on Form 1099-INT. The IRS says you must report all taxable interest even if you do not get a Form 1099-INT, so count the tax when you compare the two.

Which should you open, Chime or SoFi?

Match the offer to your direct deposits first, then to how you bank afterward.

• Your direct deposits will reach $5,000 within 25 days: SoFi pays $400 with no spending, as long as the first deposit arrives by December 31, 2026.
• Your paycheck is smaller, or a gig app pays you: Chime's $200 needs one $500 deposit, and its rules name gig economy payers. The extra $150 needs card spending.
• You want your money at a chartered bank, with an option for extra insurance coverage: SoFi.
• You want fee-free overdraft cover on a small balance: Chime's SpotMe, if you meet its monthly direct deposit rule.

How do you keep track of the bonus deadlines?

Write the dates down the day you open: Chime's 34-day deposit deadline and 90-day cash back window, or SoFi's December 31, 2026 first-deposit deadline and the 25 days after it. doddo's tracker works out requirement and payout dates from your opening date and shows them under Coming up in your Money Inbox, and its bank bonus pages list other checking offers; new doddo accounts are on a waitlist for now.