Consumer complaint received 2024-07-11
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: SOFI TECHNOLOGIES, INC. (FL)

On XX/XX/year>, I electronically ( mobile ) deposited a {$1500.00} check into my SOFI Bank account. In addition, I separately deposited an {$800.00} check on the same day. Almost immediately, I recognized a {$150.00} deposit and an {$80.00} deposit on my balance. I was under the impression that I was credited 10 % of my deposits initially, with the balance to follow ( assuming that it would be after checks " cleared '' ). At that point, it appeared to me that everything was fine and processing appropriately. 

Beginning, XX/XX/year>, I received several emails XXXX attachments ) from SOFI bank advising that my {$1500.00} deposit and {$800.00} deposit was not valid. Both of these notifications referenced a {$150.00} deposit ( not {$1500.00} ) and an {$80.00} deposit ( not {$800.00} ). 

At this point, because both checks were rejected, I attempted to deposit both checks into my account with XXXX XXXX. Interestingly, the {$800.00} check cleared with no issues at XXXX XXXX. However, although initially showing the {$1500.00} check clearing and posted on my balance, it was subsequently removed as potential fraud ( duplicate deposits ) and withdrawn from my account, which immediately restricted the account and put me in a negative balance. This now created a related, yet separate, issue with another bank. 

I contacted SOFI customer service ( Ticket # XXXX ) inquiring about the status of my {$1500.00} deposit and what the issue was? After speaking with a number of representatives, over the course of numerous calls, I was informed that I had made a " typo '' on my deposit that only credited my account with {$150.00} of the {$1500.00}. SOFI directed me to do a " Fed Adjustment '' through the issuing bank ( XXXX XXXX  XXXX and that this was the only recourse to release the remainder of my {$1500.00}. I am more than confident that I did not make a typo and most certainly did not make two typos ( {$150.00} & {$80.00} ). 

At this point, I contacted the check issuer ( XXXX XXXX ) to determine which bank the check was drawn from. Fortunately, they provided me the information and a direct contact at XXXX XXXX. I spoke to XXXX at XXXX XXXX  ( XXXX ). I provided him the aforementioned details and he got back with me advising that a " XXXX  XXXX '' could not be accomplished because the entire {$1500.00} had been remitted to SOFI Bank ( see attached cleared check ). 

I recontacted the last SOFI Bank customer service representative/investigator ( XXXX ). XXXX sent me two emails with the exact same verbiage directing me to do a " XXXX  XXXX ''. I have re-iterated numerous times that XXXX has remitted all funds to SOFI and that a " XXXX  XXXX XXXX would/could not be done, and not an appropriate resolution in light of this. XXXX has now refused to even answer email inquiries and/or phone calls. In fact, a lower-level customer service representative refused to connect me with XXXX and actually became indignant. 

I find it incredibly frustrating that I was directed to solve this issue via a banking transaction that is completely outside of a customer 's ability/purview. It is apparent that at no time has SOFI taken the initiative to accomplish contacting XXXX XXXX and resolved this bank to bank. In addition, SOFI has elected to completely sever contact with me. I have still not received total funds from the {$1500.00} deposit. I am out {$1300.00}.