Consumer complaint received 2026-03-04 00:00:00
Product: Money transfer, virtual currency, or money service — Domestic (US) money transfer
Issue: Other transaction problem — 
Company: SOFI TECHNOLOGIES, INC.
State: SC

Complaint narrative:
On XX/XX/year>, I began receiving multiple unsolicited XXXX verification codes via text message that I did not request. These messages indicated that someone was attempting to connect my financial account through XXXX. Shortly afterward, I discovered that an external bank account had been linked to my SoFi account without my authorization. A transfer of {$7000.00} was then initiated from my SoFi account to that external account. I did not authorize the linking of this external account or the transfer of funds. After receiving the unexpected verification codes and noticing the transaction, I contacted SoFi and reported the fraud within approximately three hours of the transfer occurring. Given how quickly the unauthorized activity was reported, I believe there was a reasonable opportunity for the transaction to be stopped or reversed once SoFi was notified. I also filed a police report regarding this unauthorized transaction, which I am attaching to this complaint. After completing their investigation, SoFi denied my dispute and classified the transaction as an authorized ACH transfer. I strongly disagree with this determination for the following reasons : The external account was linked to my SoFi account without my authorization I received verification codes that I did not initiate I reported the unauthorized activity within approximately three hours I have filed a police report documenting the fraud I did not initiate the linking of this external account, did not authorize the transfer, and did not provide any verification codes to any third party. Additionally, during my communications with SoFi, I was told that the external XXXX XXXX XXXX account that received the funds had my name associated with it. SoFi provided me with an account number that they stated was connected to the transfer. However, the account number they provided was XXXX digits long. I contacted XXXX XXXX XXXX directly and spoke with their Fraud department. They informed me that their bank account numbers are only XXXX digits long, and therefore the number provided by SoFi could not be a valid XXXX XXXX XXXX account number. I also asked XXXX XXXX XXXX to check whether there were any accounts opened in my name or associated with my Social Security number, and they confirmed that no accounts exist in my name at their institution. This raises serious concerns about the accuracy of SoFis investigation and their conclusion that this transaction was authorized. Under Regulation E ( Electronic Fund Transfer Act ), unauthorized electronic fund transfers reported within two business days limit consumer liability and require appropriate investigation and consumer protections. Given the facts of this situation, I believe this transaction should have been treated as an unauthorized electronic fund transfer resulting from account takeover rather than an authorized ACH transfer. I respectfully request that SoFi reopen the investigation and reimburse the {$7000.00} unauthorized transfer in accordance with Regulation E protections.

Company response to consumer: Closed with explanation