Consumer complaint received 2026-02-24 00:00:00
Product: Checking or savings account — Savings account
Issue: Managing an account — Funds not handled or disbursed as instructed
Company: SOFI TECHNOLOGIES, INC.
State: NC

Complaint narrative:
On XX/XX/year> I looked at the balance on my SoFi savings account and noticed that it was dramatically lower than it should have been. I immediately dug in to see why this might be the case and saw that on XX/XX/year> someone had transferred {$6300.00} from my account to an account with XXXX, A DIVISION OF XXXX XXXX XXXX The details on that transaction indicated a routing number of XXXX and an account number ending in XXXX. I had never heard of XXXX and immediately knew that this was fraudulent activity on my account. Right away I contacted SoFi to let them know and they opened a dispute on the matter. They told me that it would take them XXXX business days to investigate. On XX/XX/year> I received a response from SoFi saying the following -- " This letter is to inform you that we have made a final determination regarding the above-noted claim dated XX/XX/year>. Based on our investigation, we do not find that an error has occurred. Therefore, no funds will be credited to your account as a result of your claim and this matter is considered closed. You may request a copy of the documents we used in determining the final outcome of the investigation. If you would like to request copies, or if you have any further questions, please reply to this email or contact us at the number listed below. '' Upon receiving this email I immediately contacted SoFi to let them know that this was not an unacceptable response. I can not afford to lose my entire college savings for my XXXX children, which is what was in that savings account. So they reopened the dispute via appeal. At that time they asked me to " provide new information '' in order to continue investigating my " claim ''. I struggled to do so, as I do not have any more information than they have in this matter. But I was able to share information from a call I had with their security team. A copy of that information is provided here -- " Your security team helped me to identify that someone had linked a bank account to my SoFi savings account that was not mine. Whoever that account belongs to is who stole the funds. Can you all look into that? Trace the funds? The bank was called XXXXXXXX XXXX XXXX. It will become clear that account is not in my name and that I was not the person who initiated the transfer. That was all fraudulent activity that occured on XX/XX/year>. I became aware of it when I looked at my account on XX/XX/year> and saw that my balance was down under {$200.00} and I immediately contacted you all to make you aware of the fraudulent activity. I do not move money out of my SoFi accounts ever. You will see that if you look at my account history. I use my SoFi savings account to direct deposit funds that I am saving for my kids college. That is it. This is nearly my entire college savings fund that has been stolen. Your security team helped me to unlink the XXXXXXXX XXXX XXXX account from my accounts and to reset my password so that hopefully my account is now secure. '' In addition I filed complaints with both the Federal Trade Commission and the FBI 's Internet Crime Complaint Center in regard to the fraudulent activity on my account and provided them with copies of both of those complaints. On XX/XX/XXXX I received another upsetting response from SoFi -- - " As part of our investigation, a review of our systems was performed in addition to information provided during the claim filing process. As applicable, we coordinate with other Financial Institutions, Merchants, and Networks as part of the claim review. Despite further investigation, we still do not find that an error occurred ; therefore, no funds will be credited to your account and this matter is considered closed. You may request a copy of the documents we used in determining the final outcome of the investigation. If you would like to request copies, or if you have any further questions, please reply to this email or contact us at the number listed below. '' Again I called upset about this finding. I spoke with a supervisor at that time who opened an appeal and promised to " look at it via another angle ''. He said that they couldn't detect any logins on my account other than by me. He indicated that is why my " claim '' continued to be denied. Based on my conversation with him I gathered that SoFi had made no attempt to trace or retrieve the funds stolen from my account. In fact he gave me the full account number to the XXXX account to which my funds were fraudulently transferred and asked that I contact XXXX to request documentation that the account did not belong to me. I attempted to do this many times. But XXXX would not speak with me as an individual and advised that my bank needed to do this investigation on my behalf. That has always been my expectation as well. That SoFi could easily determine that the account to which my funds were transferred was definitely not mine. However they continuously refuse to do the investigative work necessary to make that determination. They keep putting this burden on proof on me as the consumer. And I have no ability to trace the funds or identify the owner of the account to which the funds were transferred. At this point SoFi is supposedly still investigating this matter. However it very much feels like they are giving me the run around. I have requested a copy of the documents used in determining the outcomes of their various investigation multiple times now and never received anything from them. They seem to just want me to give up on this matter. But I will not. {$6300.00} was stolen from my SoFi savings account and SoFi is taking no responsibility in this matter and is not doing their job to protect me as a consumer.

Company response to consumer: Closed with explanation