SoFi Money Offering 10% Cashback At Select Grocery Stores & Streaming Services

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SoFi has launched another great offer when using your SoFi Money debit card at select grocery stores and streaming services. While the options are fairly limited, a 10% discount is still a great offer if you have any of these stores nearby or don’t have Amex Platinum streaming credits to use up.

SoFi Money Groceries Streaming

The Deal

Key Terms

  • SoFi Money Grocery Cash Back Program:
    • Qualifying SoFi Money Members are opted into the Program by using their SoFi Money debit card to make a purchase at an Eligible Merchant.
    • Promotion Period: The Program will be available for a three-month term between 7/1/2020 at 12:01AM PT and 9/30/2020 at 11:59PM PT.
    • Eligible Participants: The Program is open to all SoFi Members with a SoFi Money account with $500 in monthly deposits or more, or an account that was opened prior to June 9, 2020, who reside within the United States.
    • Eligible Merchants: WholeFoods, Trader Joe’s, and Instacart.
    • Eligible Transactions: Any in-store purchases (excluding purchases made with Instacart) made with Eligible Merchants using a SoFi Money debit card and posted during the Promotion Period are eligible for Cash Back under the terms of the Program.
    • Cash Back Terms: For each Eligible Transaction posted during the Promotion Period, Members will receive a credit to their SoFi Money account equal to 10% of the transaction charge (“Cash Back”). A) Cash Back earned will in each case be rounded up to the nearest cent. B) Cash Back credits may take up to 14 business days after the eligible transactions are posted. C) There is a maximum aggregate cap on Cash Back bonuses of $50 per Member for this Program.
    • SoFi is not liable for payment delays caused by named merchants or any third-party vendors. SoFi reserves the right to exclude any Members from participating in the Program for any reason, including suspected fraud, misuse, or if suspicious activities are observed. SoFi also reserves the right to stop or make changes to the Program at any time.
  • SoFi Money Subscription Cash Back Program:
    • SoFi Money Members who wish to participate in the Program are required to opt-in by adding their SoFi Money debit card to their merchant subscription account and using it to make ongoing subscription payments to Eligible Merchants. You may register your SoFi Money debit card with multiple Eligible Merchants.
    • Promotion Period: The Program will be available for a three-month term between 7/1/2020 at 12:01AM PT and 9/30/2020 at 11:59PM PT.
    • Eligible Participants: The Program is open to all SoFi Members with a SoFi Money account with $500 in monthly deposits or more, or an account that was opened prior to June 9, 2020, who reside within the United States and subscribe to a product or service offered by an Eligible Merchant.
    • Eligible Merchants: Disney+, Netflix, and Spotify.
    • Eligible Transactions: Ongoing monthly subscription payments with Eligible Merchants, using a SoFi Money debit card and posted during the Promotion Period, are eligible for Cash Back under the terms of the Program.
    • Cash Back Terms: For each eligible transaction posted during the Promotion Period, Members will receive a credit to their SoFi Money account equal to 10% of the transaction charges to their SoFi Money debit card (“Cash Back”). A) Cash Back earned will in each case be rounded up to the nearest cent. B) Cash Back credits may take up to 14 business days after the eligible transactions are posted. C) There is a maximum aggregate cap on cashback bonuses of $50 per Member for this Program.
    • SoFi is not liable for payment delays caused by named merchants or any third-party vendors. SoFi reserves the right to exclude any Members from participating in the Program for any reason, including suspected fraud, misuse, or if suspicious activities are observed. SoFi also reserves the right to stop or make changes to the Program at any time.

Quick Thoughts

You can earn a maximum of $100 cashback through this deal, so it’s good on up to $1,000 of spend. That $1,000 total is split across the two categories though, so it’s $500 for eligible groceries and $500 for eligible streaming services.

With three months to take advantage of these offers, I can’t imagine anyone being able to spend $500 on the three streaming services within that time seeing as that comes to $166.67 per month, unless you’re able to pay for annual subscriptions up-front.

Maxing out the $500 of spend at Whole Foods, Trader Joe’s and Instacart should be pretty easy if you shop at either of those stores or through Instacart seeing as that’s about the cost of two parsnips and a small carrot at Whole Foods. If you don’t buy groceries from them though, you could easily buy $500 worth of gift cards in one trip to Whole Foods to lock in the 10% cashback.

If you joined SoFi Money in the last few weeks or are about to join, be sure to note the terms that state you have to make monthly deposits of $500+ into your SoFi Money account if you joined since June 9, 2020.

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