Consumer complaint received 2024-04-23
Product: Checking or savings account — Savings account
Issue: Managing an account — Deposits and withdrawals
Company: SOFI TECHNOLOGIES, INC. (CA)

On XX/XX/XXXX, I opened an account with SoFi Bank. 

On XX/XX/XXXX, I transferred {$1200.00} from my XXXX XXXX XXXX account to the SoFi account. Once I noticed the money was in the SoFi Savings Account I left it there to save and grow interest. 

About a week passed, and I had not logged into my SoFi account. 

On XX/XX/XXXX, I logged into my account and noticed I only had a balance of {$25.00}, which I received as a referral bonus for joining. I immediately went to check the transaction history and saw very unusual activity. As mentioned, I hadnt logged into the SoFi account for a week. 

I went through the transactions and noticed that someone had transferred the {$1200.00} from my SoFi savings to the SoFi checking account on XX/XX/XXXX. A transaction I did not make. 

Another 2 suspicious transactions were on XX/XX/XXXX, when 2 P2P ( peer-to-peer ) payments were made to XXXX XXXX ( a {$1000.00} transfer and a {$200.00} transfer ). I do not know a XXXX XXXX and never have. 

I immediately called SoFi, but it was Sunday, and business hours passed. I then went to chat with customer service on their chat website, where I created a dispute for those transactions listed above. I also called multiple days in a row following that initial dispute. 

In my initial dispute, I told SoFi 1 ) I do not know a XXXX XXXX and 2 ) I had not shared any of my login information with anyone. 

Along with disputing these transactions, SoFi directed me to change my password immediately, freeze the debit card provided, and set up two-factor authentication. I made all of these changes, also shown in their records. 

On XX/XX/XXXX, I was notified that my dispute had been denied. I was not happy and then appealed the dispute outcome. I had just opened this account less than a month ago, and within a week of having an account, my money was stolen. 

I then went on to explain the situation further to them and go over their findings. This was all over email with the dispute team because SoFi 's back office and dispute team does not communicate via phone. 

I often asked to speak with someone above the account manager position since they couldnt help me, and I was not directed to anyone for help. Everyone I spoke with, including the dispute team, asked me to provide documentation proving these transactions were not me. I continued to ask what specific documentation would help my case or change their decision, and I was ignored multiple times. 

After the appeal was denied again, I requested documentation explaining their investigation. This document was provided to me and showed multiple suspicious IP addresses and locations. For example, two logins were made within an hour of each other, one in XXXX CA and one in XXXX CA. It is impossible to be in both these places within an hour of each other, even by plane. 

I tried gathering information and sent SoFi my XXXX XXXX  transactions for the day of the transactions in question ( XX/XX/XXXX ). These transactions show I was in XXXX on the day of the question. When I looked at the documentation SoFi provided for their investigation, it showed the transactions were made in XXXX, CA, and XXXX, CA, proving this was not me. But AGAIN, SoFi denied my dispute. 

Every bit of information I provide them is never enough, and they refuse to help me. They continued to tell me that their investigation showed no abnormal activity and that I shared my login with someone or made the transactions myself. 

In my initial dispute, SoFi asked me if I shared any information, and I told them no. I dont know why these questions are asked if I am not even given the benefit of the doubt. I am being treated as the person in the wrong when my money was stolen! 

They will not get on the phone with me to resolve the issue or refund the money stolen from my account. I have been back and forth with the dispute team many times via email. I called customer service along with account managers, and not 1 out of the 15 people I spoke with will help me with this issue. 

Currently, there is no resolution in sight as they will not provide me with any direction, only denials. If they are stating, " I shared my login information, '' WHEN I DID NOT, I'm not sure how this would ever be refunded or resolved. 

This has been an awful and extremely frustrating process with SoFi. 

They told me that if I could not prove it wasnt me, I would be out of luck, and my money would be gone.