Consumer complaint received 2024-04-26
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: SOFI TECHNOLOGIES, INC. (RI)

On XXXX XX/XX/24, there was an unauthorized transaction in my Sofi Bank National Association Savings account and someone transferred {$8000.00} to fund a fraudulent account at another prepaid company XXXX by XXXX XXXX XXXX. There was also a second transaction of {$.00} which was fraudulently transferred into my Sofi checking and used to open and fund a fraudulent account with XXXX XXXX XXXX XXXX. I later received an account and debit card from XXXX XXXX XXXX which I did not authorize and therefore was opened fraudulently. After a lot of struggle trying to deal with Sofi 's extremely poor customer support, where I mentioned I was traveling internationally and couldn't receive calls on my regular phone line and therefore needed to be contacted through email ( despite them later claiming they tried to call and couldn't contact me ), I filed a dispute with Sofi on XX/XX/24. On XX/XX/24 I received an email from someone named XXXX of SoFi Support ( XXXX ) that they had denied my dispute saying they determined there was no error, despite blatant fraud since {$8000.00} of my money was missing. The email said I could request information about this determination and upon doing this I never received a response with the requested information. At this point, I had to contact Sofi 's credit card and investment teams in order to file an appeal to my dispute because the banking department wouldn't help me. On XX/XX/24 I received a call from someone from Sofi named XXXX ( XXXX ) who knew nothing about my dispute despite the fact I had already provided all the info on multiple occasions to Sofi. It wasn't until I filed a XXXX complaint against Sofi Bank that I received a call from someone named XXXX XXXX ( XXXX ) who claimed to be an investigator with Sofi but also knew nothing about my dispute, yet the company had already concluded in my initial dispute and an appeal, that there was no fraud??? After I thoroughly explained the case and my dispute of an unauthorized charge of {$8000.00}, he told me a case had been opened and to call him any time, and that he would keep me informed, but when I tried to contact him to provide relevant information multiple times, he did not return my calls. On XX/XX/24 I received a response to my XXXX complaint which I am attaching. The company said I had violated their Deposit Account Agreement and therefore they had closed my account and were sending a check with the remaining funds in my account that they had frozen. They claimed they found no fraud yet they closed my account and would not provide any information on how they came to this determination. Since I had {$8000.00} stolen from me and it's still missing, this is a false determination. What's worse is upon researching this situation I have found other customers of Sofi who also had the same exact issue with unauthorized transactions and Sofi ruled there was no error, yet providing no information when they also had unauthorized and fraudulent charges. Furthermore, I filed a complaint with the OCC which regulates XXXX, and received a response from XXXX which I have attached where they state that Sofi is responsible for the transaction for being the originator on the funds. As a consumer, I know I have protection from unauthorized Electronic Funds Transfers ( EFTs ) under federal Regulation E.