Last week, I told you how you can get $100 just for opening and funding a SoFi Invest account with a referral link. They’d give you $100 in cold cash to do with what you please. SoFi added a wrinkle to the promotion.
Now when someone uses your referral link to open and fund a SoFi Invest account, your $100 referral bonus gets automatically invested into a random stock. It doesn’t cost anything to buy or sell stocks at SoFi Invest, so you can sell this “Stock Bit” and get cash in two business days.
I signed into my SoFi today and saw that I had two $100 Stock Bits of Adobe and Uber. I thought I’d been hacked. Nope. I called them up to find out the promotion had changed and those stocks were automatically chosen for me.
If you are like me and decide to sell your randomly chosen stock bits, click on the stock you want to sell and click “Sell”.
Type in the dollar amount of what you own. Click “Sell all”. This will liquidate the entire position even if the value of your stock bit changes by the time the sale is made.
Click “Sell (your stock)”…
And you are finished.
I sold mine today, Thursday the 12th. Since it takes two business days (Friday & Monday) for the cash to settle into my account, I will not get it until Tuesday. Be sure to put your sell order in by 3 p.m. Eastern or the sell date will move to the next day.
Regarding your initial $1,000 deposit: There is a five day hold that starts the day after your deposit hits your SoFi account.