Consumer complaint received 2025-04-08 00:00:00
Product: Checking or savings account — Savings account
Issue: Closing an account — Company closed your account
Company: SOFI TECHNOLOGIES, INC.
State: MN

Complaint narrative:
I filed my taxes for the year XXXX with a substantial refund of {$11000.00}. I did my taxes through XXXX XXXX and elected to pay my XXXX XXXX fees with my refund which cost {$200.00}. That net a refund of {$11000.00} which I had sent to my SOFI savings account. 

In XXXX of XXXX, my funds ( Over {$50000.00} in total ) were frozen in that account entirely. SOFI said there was an issue with the IRS and refused to speak to us. They said the IRS required them to put the account on freeze. They gave me a case number for the IRS but completely locked the account and I was unable to even access transcripts or statements. 

When I called the IRS, they said they were investigating my tax refund but there was no freeze on my account and the case number that SOFI gave was not valid. The issue with the IRS was resolved with an amended tax return but SOFI ended up closing the account entirely due to a violation of Terms and Conditions. I still never received any written explanation for why this was done. Based on other 's experiences from my own online research with XXXX XXXX and SOFI, it may have been because XXXX XXXX XXXX  coded the transaction as a business account rather than a personal account but SOFI refuses to confirm, deny, or clarify. 

On XX/XX/XXXX I call SOFI and SOFI claims to have sent the checks back to the originator. I received my initial principal via check ( {$45000.00} check was dated XX/XX/XXXX ) minus my XXXX tax refund of {$11000.00}. Unfortunately because SOFI wont give me access to my statements I don't have a document for this. After calling SOFI again, they claim to have sent it the remaining {$11000.00} to XXXX XXXX who is the parent company for XXXX XXXX. I could not get ahold of XXXX XXXX and the IRS stated they have no record of receiving the {$11000.00} back. I called SOFI again and they changed their story saying the money now wasn't actually sent to XXXX XXXX but said it went back to the originator, assumedly the IRS but SOFI wouldn't confirm. They refuse to give any details regarding that including any wire confirmation, transaction record, etc. Unfortunately SOFI closing the account also leaves me without any of my financial statements to show how much money was in the account and they refuse to provide me access to those. 

On XX/XX/XXXX, nearly a year after they closed my savings account, I logged in to find my investment brokerage account was closed. I had stock in the account but had not bought or sold anything during this time. There was no email communication, mail communication or note in the online portal that my account was closed. I called SOFI and they said they closed the account but refused to say why. I checked my investment 1099 from them and it shows they sold all my stock on XX/XX/XXXX totaling {$6900.00}. I did not instruct the sale of said stocks nor authorize the sale. 

When I called on XX/XX/XXXX they stated they closed the account and it was sent back to my mailing address on XX/XX/XXXX. I stated I never received a check. They investigated further and said because I violated the Terms of Service ( but still refused to say what I violated ), they confiscated my funds. They have been completely unhelpful and lack any transparency. I am now missing {$18000.00} in total from this company and they will not help me retrieve any of it, tell me what they did with it, or where it is. 

While this is all done through the SOFI Bank portal and app it is both the below entities : XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX

Company response to consumer: Closed with explanation