An online bank that runs a recurring, tiered direct-deposit bonus. The rule is simple: bring $5,000 in direct deposits inside the window for the top tier. No branches, no monthly fee, and a strong APY when direct deposit is on.
SoFi
Bank & brokerage app · 1 live offer, $400 cash
What counts as a direct deposit
The bank's own definition: A recurring deposit of regular income (payroll, pension, or government benefits) from your employer, payroll or benefits provider, or a government agency, sent over the ACH network at least every 31 days.
Counts
- Employer payroll
- Pension payments
- Government benefits like Social Security
Does not count
- Bank ACH transfers from an external account
- Zelle, PayPal, Venmo, and Wise transfers
- Check deposits and wire transfers
- IRS tax refunds and merchant payouts (Stripe, Square)
There is no minimum amount, but the deposit must recur at least every 31 days and be coded as payroll or benefits, not a plain transfer.
Quoted from the bank's page and checked Jul 17, 2026.