Consumer complaint received 2025-12-09 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Problem making or receiving payments
Company: SOFI TECHNOLOGIES, INC.
State: SC

Complaint narrative:
I have submitted XXXX prior complaints to the CFPB regarding SoFi Banks failure to properly process a refund from my closed account. However, SoFis latest response does not address any of the issues raised in my most recent complaint ( XXXX XXXX. XXXX ), and the refund remains unresolved. 
Therefore, I am submitting this fourth complaint and respectfully request further investigation and intervention by the CFPB. 

This submission is based on the issues outlined in my previous complaint.

1. SoFi continues to make inaccurate and unreasonable claims regarding the refund amount In my previous complaints, I explained that approximately {$3200.00} remained in my SoFi account at the time it was closed ( consisting of the {$3000.00} incoming transfer and the remaining balance of my own deposits ).

The refund may be issued either to me ( the account holder ) or to the originator, XXXX XXXX, as previously described by SoFi. Either option is acceptable.

Despite this, SoFi refunded only {$11.00} to me by check, without explaining the basis for this amount or addressing the remaining funds. 

Even when an account is closed, a financial institution is obligated to return the entire remaining balance.

SoFi has not fulfilled this obligation.

2. SoFi has provided no evidence whatsoever that a refund was actually processed Although SoFi repeatedly claims that the full refund was processed, they have not provided any evidence to support this assertion. 

Across XXXX complaints, I have requested the following documentation : A valid transaction number proving that a refund was processed Evidence of the refund, including date, time, amount, and receiving account information Internal escalation details, including department name, responsible personnel, and case status The basis on which SoFi determined that the refund was completed In their most recent response, none of this information was provided.

The absence of these essential documents strongly suggests that SoFi has no evidence that a refund was completed.

3. SoFis requirement for a Hold Harmless Letter ( HHL ) is unreasonable and serves only to avoid responsibility In response to my second and third CFPB complaints, SoFi stated : We can only issue the refund iXXXX XXXX XXXXXXXX provides a Hold Harmless Letter ( HHL ). 

However, as stated previously : XXXX itself acknowledged receiving the original {$3000.00} deposit from XXXX ( SoFis response dated XX/XX/year> ). 

XXXX closed my account, and the refund obligation rests solely with SoFi, not XXXX. 

Major XXXX banksincluding XXXX XXXX XXXX XXXX XXXX XXXX XXXX  not issue HHLs absolving another bank of liability. 

Conditioning a refund on an XXXX is inconsistent with standard banking practices. 

XXXX repeatedly demands an XXXX despite knowing XXXX will not issue XXXX. 

Thus, this requirement is unrealistic and functions only as an excuse to continue withholding the refund. 

XXXX. SoFis claim that the refund was completed contradicts verifiable facts and appears to be false On XX/XX/year>, I visited a XXXX branch with the originator, XXXX XXXX, and the branch XXXX. Together, we confirmed the following : XXXX never received any refund from SoFi The transaction number provided by SoFi does not exist in Chases system There is no recordeither pending or completedof any refund from SoFi Despite these facts, SoFi continues to claim that a refund was completed, without providing a single supporting document.

This inconsistency raises serious concerns about the accuracy and credibility of SoFi 's statements.

5. Requested Action ( identical to the previous complaint ) I respectfully request that the CFPB require SoFi to take one of the following actions : ( 1 ) Provide verifiable proof that the refund was completed, including : Transaction number Transaction record Date, time, amount Receiving account information ( 2 ) If SoFi can not provide such proof : Immediately refund the full remaining balance ( approximately {$3200.00} ) to either me or the originator, XXXX XXXX, and provide documentation of the refund transaction. 

SoFi is obligated to respond to these reasonable requests with factual information and appropriate documentation. 

Conclusion SoFi has failed to address the key points raised in my previous complaints and continues to withhold the required evidence regarding the refund. 
Their actionsfailure to refund the full balance, refusal to provide documentation, and insisting on an unreasonable XXXX conditionraise significant consumer protection concerns. 

For these reasons, I respectfully request that the CFPB reopen this case and require SoFi to provide a substantive, evidence-based response and take corrective action without further delay.

Company response to consumer: Closed with explanation