This is a triple referral combo walkthrough for US students, US citizens, or non-US residents with ITIN who want to compare Rakuten, SoFi, and Kraken terms before signing up. Requirements, availability, and reward amounts can change.
Who This Is For
- US citizens and green card holders
- US students (with SSN)
- Non-US residents with ITIN (digital nomads, cloud residents, etc.)
- Those who don't currently have a SoFi account
Potential Benefits to Check
At the time this guide was written, the combined programs advertised potential rewards that could add up to $900 if every requirement was met. Check current terms before relying on any amount:
- Rakuten new user bonus: $50
- Rakuten SoFi cashback: up to $375 (varies, please monitor Rakuten offers)
- SoFi friend referral bonus: $25
- SoFi official signup bonus: $300
- Kraken crypto trading bonus: up to $150
Rewards Received Update
- Rakuten: $425 total confirmed ($375 SoFi cashback + $50 welcome bonus). Confirmed and waiting for payout.
- SoFi: $25 referral bonus already received. $300 DD bonus received and credited to account.
Get Started
Step 1: Sign Up for Rakuten
Register for Rakuten using the referral link: https://www.rakuten.com/r/MRFECH?eeid=28187
Step 2: Sign Up for Kraken
Register for Kraken using the referral code: bf44j27h
Visit: https://dorefer.com/kraken for detailed instructions and to get started.
Kraken reward structure to check:
- Account setup and verification
- Minimum $100 deposit
- Trading tiers:
- Trade $100+ → Earn $15
- Trade $300+ → Earn $20
- Trade $500+ → Earn $40
- Trade $5,000+ → Earn $75
- Maximum listed total: $150 (timing and eligibility depend on Kraken's current terms)
Step 3: Open SoFi Account
- Prepare your browser: Open Chrome/Safari/Edge or any mainstream browser
- Prepare two tabs:
- Tab 1: SoFi referral link page: https://www.sofi.com/invite/money?gcp=f1ae36f7-8b4a-4c80-b791-4e306eed5638&isAliasGcp=false, then review the displayed referral terms
- Tab 2: Visit Rakuten SoFi cashback page: https://www.rakuten.com/shop/sofibanking
- Click "Shop Now" to enter SoFi signup page
- Complete SoFi account opening
- Fill out information normally after being redirected to SoFi page
- No need to activate physical card, no need to deposit money upfront
- Simply access your account dashboard
Step 4: Complete Kraken Trading Requirements
After setting up your Kraken account, review and complete the current trading requirements if you choose to participate:
- Verify your account - Complete KYC verification
- Make minimum deposit - Deposit at least $100
- Complete trading tiers:
- Trade $100+ → Earn $15
- Trade $300+ → Earn $20
- Trade $500+ → Earn $40
- Trade $5,000+ → Earn $75
- Reward timeline - Confirm the current payout timing in Kraken's terms
Step 5: Direct Deposit (Critical Step)
This is the core step mentioned in the SoFi and Rakuten reward terms.
Recommended Strategy: One-time DD of $5000+
One common strategy is making the first direct deposit $5000+ if that matches your own finances and the current terms:
- Meets Rakuten requirement: ≥ $500
- Meets SoFi signup bonus: cumulative $5000
- Meets referral bonus: ≥ $50
Key Timeline
| Time Requirement | Action Required | Reward Amount |
|---|---|---|
| Within 21 days | Any deposit ≥ $50 | $25 referral bonus |
| Within 25 days | Cumulative DD of $5000 | $300 signup bonus |
| Within 45 days | First DD ≥ $500 | $375 Rakuten cashback |
Recommended DD Methods
- Bank Transfer (Recommended)
- Fast and reliable
- Direct from your existing bank account
- Remember to note "Payroll"
- Employer Payroll DD (if available)
- Best fits DD definition
- Choose this if you have regular salary
- Third-party Transfer Services
- Use established services for international transfers
- Ensure proper documentation for DD requirements
Important Tips
- Screenshot everything: Save screenshots of every key step, including:
- Redirect pages
- Account opening confirmation
- Transfer records
- Reward notifications
- Device requirements:
- Works on both mobile and desktop
- Use mainstream browsers (Chrome/Safari/Edge)
- Operate in different tabs of the same browser
- Don't clear cookies
- Time management:
- Record account opening date
- Set reminders to complete DD within deadlines
- Recommend completing first DD immediately after opening account
Long-term Account Value
SoFi Banking Benefits
- No monthly fees: Permanently free of monthly fees
- Global ATM fee reimbursement: Free withdrawals at any ATM
- Excellent app experience: Clean interface, comprehensive features
- High-yield savings: Usually higher than traditional banks
- Investment features: Integrated stock and ETF investing
Rakuten Long-term Benefits
- Shopping cashback: Earn cashback on daily online purchases
- Quarterly promotions: Regular high cashback events
- Cumulative earnings: Continuous cashback with long-term use
Kraken Long-term Value
- Established crypto exchange: Founded in 2011, one of the most regulated platforms
- Wide cryptocurrency support: Bitcoin, Ethereum, and many altcoins
- Advanced trading features: Spot trading, futures, margin trading
- Strong security: Cold storage, two-factor authentication, regulatory compliance
- Competitive fees: Especially for higher-volume traders
- Multiple trading interfaces: Simple for beginners, advanced tools for experienced traders
Program Checks
Program information checked:
- Program terms - Checked against official referral terms of each platform
- Company credibility - All three companies are established financial institutions
- Regulatory compliance - SoFi is FDIC-insured, Wise is regulated by FCA, Rakuten is publicly traded
- Customer support - 24/7 support available through respective platforms
- Last checked - Information reviewed as of January 2025
FAQ
Q: I'm an F1 student without employment. Can I still do this? A: Yes! You can complete DD using third-party transfers from your existing bank accounts or other financial services.
Q: Do I need to activate the SoFi physical card? A: No, you can use online banking directly after opening the account. No need to activate the physical card.
Q: Is there any risk to my funds? A: SoFi is a legitimate FDIC-insured bank, so your funds are protected. Plus, there are no monthly fees, making it suitable for long-term holding.
Q: Do I have to use mobile for this process? A: No, both mobile and desktop work. Choose whichever device is more convenient for you.
Q: When will the referral rewards be credited? A: Usually within 2-8 weeks after meeting the requirements, with specific timing varying by reward type.
Q: Can ITIN users participate? A: Yes, both SoFi and Kraken accept ITIN for account opening, which is why this referral code process works for digital nomads.
Q: Do I need to use specific referral codes? A: Yes, you must use the provided referral links and codes (Kraken code: bf44j27h) to ensure proper tracking and reward eligibility.
Before you start, review the current official terms for each program and make sure the accounts fit your own needs. Have questions? Contact us — we're happy to help!
