Consumer complaint received 2025-07-09 00:00:00
Product: Checking or savings account — Checking account
Issue: Closing an account — Company closed your account
Company: SOFI TECHNOLOGIES, INC.
State: GA

Complaint narrative:
SoFI Employee Name : XXXX  - Role : Member Security Team - Date/Time : XXXX XXXX XXXX - She begins by asking if I am calling in regards to my account restriction to which I confirm, adding, prior to submitting a CFPB formal complaint I am attempting to escalate to you ( the security team ) as the representative prior to you provided zero information aside from my accounts would be closed and funds returned and that a supervisor would call within 24 hours. I requested to the representative to release my funds as this is unfounded but to no avail. XXXX then said she would go check the status of my account restriction and to please hold the line. 
- XXXX  returns from reviewing my account restriction - " it has been reviewed by our internal review team and determined your accounts with us will be closed, and funds mailed to you ''. I ask what triggered the internal review and XXXX  responds that she is not able to provide this information. I state that, other than moving this weekend ( which caused a spike in transactions in my new state - XXXX, as well as elevated dining and moving-related expenses, I am absolutely dumbfounded as to why I received these emails this afternoon only to now be told I not only am having my account closed, but my funds withheld from me without reason nor justification. XXXX  responded by apologizing but then reiterating that she is not able to provide any additional information to me. I let her know I would be filing a formal complaint with the CFPB and that I am requesting to have a supervisor in the fraud/compliance department get in touch with me, as this is outrageous. 
XXXX  ended by saying she has requested the manager call me this evening ( Wed, XXXX XXXX ) about my account, but that it the account would proceed to closure. 

Additionally : This all began when today at XXXX ( XXXX ) I received both an email and text message notifying me of the " temporary restriction.... FOR MY PROTECTION '' and to give them a call. ( both documents are attached ). This is only to later be met with this absolutely ridiculous " internal review '' claim and that my account was being closed??? BOTH OF THEIR MESSAGES SAID IT WAS TEMPORARY AND FOR MY PROTECTION!?!?! And all of this escalation without any forewarning, call, or other form of communication requesting anything of me or notifying me of any potential review. And while I understand compliance reviews will not necessarily be broadcasted to the consumer for a litany of reasons, to send communications contrary to their later ( and apparently true, intent ) is not only unnecessary, but also wildly misleading. None of these statements were refuted nor explained by either of the SoFI member services team that I spoke with. 

Now, they are withholding my funds for however long without any feeling of a need to work with me, explain the situation to ANY DEGREE, nor allow me to refute whatever nonsense was " uncovered '' from their " internal review ''. I have to figure out how to move around direct deposits, bill pay, etc. at a moments notice and without any semblance of warning.

Company response to consumer: Closed with explanation