Consumer complaint received 2025-11-26 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Problem using a debit or ATM card
Company: SOFI TECHNOLOGIES, INC.
State: CA

Complaint narrative:
1. Accounts and normal activity before the fraud Checking account ending XXXX and savings account ending XXXX were opened in XX/XX/XXXX. 

From XXXX through XX/XX/XXXX, the accounts show normal, low-volume activity with only a few deposits and no unusual debit-card runs or overdrafts. 

As of XX/XX/XXXX : XXXX XXXX had a balance of {$5600.00}. 

Checking XXXX had a balance of about {$550.00}. 

There was no pattern of abnormal spending, overdrafts, or out-of-state card use before XX/XX/XXXX. 

2. Fraudulent pattern beginning in XX/XX/XXXX Beginning in XX/XX/XXXX, my accounts show a drastic change in pattern that I did not authorize. 

On or about XX/XX/XXXX, I received a phone call from someone who pretended to be from the XXXX team. The caller appeared to know details about my account and represented that they were helping me with an urgent security issue. During that call, the scammer asked if I had any other bank and I mentioned Sofi and later on was convinced to provide personal information and verification code, believing I was speaking to a legitimate XXXX representative, which led to accessing my Sofi bank account. I later learned this was a scam call, and that the fraudster used that access to link external accounts, drain my savings into checking, and run the unauthorized card and transfer transactions described below. If SoFi has any recordings, transcripts, or logs of that call, I respectfully request that they be reviewed as part of your investigation and provided to me as evidence you rely on. 

Transfers from savings to checking XX/XX/XXXX XXXX XXXX was debited {$6000.00} and {$640.00}, and those funds were moved into checking XXXX. 

XX/XX/XXXX An additional {$500.00} was transferred from savings to checking. 

XX/XX/XXXX The final {$12.00} was moved from savings to checking, leaving savings at {$0.00}. 

I did not authorize this draining of my savings. 

Unauthorized activity on checking XXXX Around this same period, checking XXXX shows : A Pay a Friend XXXX XXXX transfer of {$5000.00} on XX/XX/XXXX. 

Numerous debit-card transactions at XXXX XXXX XXXX XXXXXXXX, XXXX, and XXXX XXXX in Florida locations ( XXXX XXXX XXXX, XXXX XXXX, XXXX XXXX, XXXX XXXX, etc. XXXX on XX/XX/XXXX, XXXX, XXXX, XXXX, XXXX, and continuing into XX/XX/XXXX, XXXX, XXXX, and XXXX, XXXX. 

XXXX micro-deposits and debits labeled XXXX XXXX XXXXXXXX and XXXX XXXX XXXX, indicating that a fraudster may have linked my SoFi account to outside accounts.

These transactions are entirely inconsistent with my prior account history and my normal geographic location. I did not approve these transfers, did not make these card purchases, and did not authorize anyone to use my SoFi login, one-time passcodes, or card details.

The fraudster called and convinced me to provide personal information, which they then used to access my SoFi accounts, link external accounts, move funds, and change my contact information.

I discovered that from my XXXX bank that it was a scam and I then immediately reported my account as compromised to SoFi Agent on XX/XX/XXXX. After that date, I cooperated fully with XXXX fraud investigation and dispute process. The fraudulent transactions occurred primarily in XXXX and early XX/XX/XXXX. 

3. I was the victim of a social-engineering scam, not negligent I want to be clear that I am a victim of fraud, not someone who intentionally misused my accounts. A fraudster contacted me, impersonated XXXX Bank staff, and tricked me into providing personal information about my account, which they apparently used to access my SoFi accounts, link outside accounts, drain my savings into checking, and run numerous out-of-state card transactions and transfers.

I did not authorize these transfers or card purchases, did not knowingly grant anyone ongoing access to my accounts, and did not receive any benefit from the fraudulent activity. As soon as I b ecame aware that something was wrong, I reported the fraud to SoFi ( on XX/XX/XXXX ) and cooperated with your investigation. I respectfully ask that SoFi treat this as what it is : a customer being targeted and deceived by a scammer, not customer negligence or abuse of the account.

In connection with this fraud, my understanding is that the phone number on my SoFi account was changed to the scammers number, without my informed authorization. This meant that important security alerts and one-time passcodes were going to the fraudster instead of me, which allowed them to continue accessing and misusing my accounts. This change to my contact information is itself part of the unauthorized activity, and I ask that it be treated as such in your investigation.

4. Move to XXXX, contact changes, and statement gap Around the time of this fraud, I was also in the process of moving to a new address in XXXX, California, and updating my mailing address with various companies. Because of this transition, some paper statements and mail were sent to my old address, which contributed to a delay in my seeing the full extent of the fraudulent activity. 

Separately, after the fraud and SoFis handling of the dispute, I changed my personal phone number in late XXXX XX/XX/XXXX to help protect myself from further scam calls and future hacking attempts, and I am working to make sure all of my financial institutions have my correct, current contact information. Since discovering the fraud, I have focused on protecting my identity and preventing further damage, including updating my address, changing my phone number, and exploring additional steps such as enhanced monitoring and safeguards on my Social Security number and other accounts. 

5. Provisional credits, final credits, and reversals After I reported the fraud, SoFi initially treated many of these transactions as disputed/fraud : On or about XX/XX/XXXX5, SoFi posted a large number of entries labeled Provisional Credit to checking account XXXX, in amounts that correspond to the fraudulent card transactions ( e.g., XXXX, XXXX, XXXX, XXXX, XXXX, XXXX, XXXX, XXXX, XXXX, XXXX, etc. ), along with interest adjustments. 

On or about XX/XX/XXXX, XXXX posted additional entries labeled Final Credit Dispute Final Credit for some amounts. 

As a result, by the end of XX/XX/XXXX, checking account XXXX showed a positive balance of {$3200.00}, and savings XXXX remained at {$0.00} after being drained into checking during the fraud. 

However, on or about XX/XX/XXXX, my checking statement shows a long series of Miscellaneous Debit entries with amounts that mirror the earlier provisional credits ( again XXXX, XXXX, XXXX, XXXX, XXXX, XXXX, XXXX, etc. ), along with negative interest adjustments. This effectively reversed the earlier credits and drove my account from a positive balance into an overdraft of {$3800.00}, which remains as of the XX/XX/XXXX statement. 

I did not authorize these debits, and I dispute that I owe this negative balance or any related amounts. 

6. Errors under Regulation E I believe the following errors have occurred within the meaning of EFTA/Regulation E : Unauthorized electronic fund transfers were posted to my accounts ( including card transactions, Pay-a-Friend transfers, and ACH transfers to or from external accounts ).

My savings account was drained into checking without my authorization, and the funds were then used in the fraud.

Although SoFi initially provided provisional and final credits for many of the disputed transactions, SoFi subsequently reversed those credits and converted them into Miscellaneous Debits, effectively treating me as liable for the fraud losses and the resulting overdraft.

SoFi has not provided me with a clear written explanation of the investigation or copies of the documents, call records, or other evidence relied upon to conclude that these transactions were authorized.

7. Requested relief and amounts Based on the SoFi statements for checking account XXXX and savings account XXXX ( XXXX XXXX ), my understanding of the situation is : Just before the fraud activity in XX/XX/XXXX, I had approximately {$6700.00} in legitimate funds on deposit with SoFi ( about {$6600.00} in savings XXXX and about {$550.00} in checking XXXX ). 

In XX/XX/XXXX, SoFi allowed my savings to be drained into checking through transfers totaling approximately {$7100.00}, and then allowed a series of unauthorized card transactions, Pay a Friend transfers, and other debits from checking, totaling well over {$12000.00} in XXXX alone. 

Many of these debits were later treated as fraud by SoFi and temporarily reversed via provisional and final credits in XX/XX/XXXX, and then re-imposed on XX/XX/XXXX as Miscellaneous Debits, resulting in a large negative balance.

Company response to consumer: Closed with explanation