Consumer complaint received 2026-01-23 00:00:00
Product: Checking or savings account — Checking account
Issue: Problem with fraud alerts or security freezes — 
Company: SOFI TECHNOLOGIES, INC.
State: FL

Complaint narrative:
My husband and I opened a SoFI account several years back to facilitate the reporting of income with the IRS related to an XXXX rental unit on our property. We were automatically sent a Debit Card and checks for the account, but never once used the debit card, as the only transactions were transfers from the SoFi account to our XXXX  XXXX XXXX checking accounts and a couple of checks paid to companies related to work done on the rental unit. 

On XX/XX/XXXX, I transferred {$2000.00} from the account to my personal account. At that time, there was {$510.00} remaining in the account. My husband received notice of a debit charge, so I checked the account and determined that there had been 4 separate transactions totaling {$460.00} made on the account subsequent to my withdrawal on the XXXX. We called SoFi immediately to report the fraud, as neither of us had made the charges or even used any cards associated with the account, nor had we ever even taken them outside of our home at any time. Inasmuch as we determined that the charges had to have been made electronically, we requested that the card be cancelled. They advised that this was not possible without issuing a new card to replace it, which we did not want to do because of existing fraudulent activity on the account and no guarantee that it would not happen again with a new card. Instead, we agreed to immediately freeze the card so that it could no longer be used. 

However, on XX/XX/XXXX, the day after the above charges and phone call were made, yet another fraudulent charge of {$25.00} was made against the account using the same debit card. I called immediately to alert the company and to lodge a complaint that additional charges had gone through after the card was supposed to have been frozen and was told that nothing could be done until the charges cleared. This time, when I called back, I agreed to have the company cancel the debit card altogether and issue us a new one with the intention of closing the account once all fraudulent charges were reconciled. At the same time, I removed SoFi as the default recipient of our XXXX income so that no additional XXXX  were at risk. 

The next day, an additional {$50.00} charge was fraudulently made using the so-called cancelled debit card, placing our account balance in the negative to the tune of - {$37.00}. Furious at having spent hours on the phone with SoFi trying to avert continued fraudulent charges, I called once again to report new charges and was advised that I would need to cancel the debit card again - or, potentially, the new one issued that was supposedly on its way - and be reissued a new one. I made it clear that we were not satisfied with the company 's response and its failure to ensure that no further fraudulent charges would occur, but would check back later to see if the matter had been resolved. The other problem is that each time a call is made, we must also wait until the charges actually clear to make a formal report for investigation. 

On XX/XX/XXXX, I saw that the fraudulent charges had been provisionally credited back to the account, so I transferred {$400.00} of our {$510.00} over to my regular XXXX  checking so that I could pay bills. At the time, this transfer appeared to go through ; however, on checking both accounts later, I determined that not only had the transfer not been approved, but that on the same day, additional amounts had been fraudulently charged against the same original debit card in question via 3 separate transactions- yes, you read that correctly : more charges on the same debit card that had supposedly been frozen once, then cancelled twice!!! One of the charges was only for {$5.00}, which I called to report immediately and was told that, once again, I would have to wait until it cleared, but that they would " cancel and reissue. '' I explained that the low amount appeared to be a " fishing expedition '' to see if higher fraudulent charges could go through, which in fact, they did. All in all, 3 charges totaling {$310.00} were debited against the account on that day. 

On the XXXX, I reported yet another charge and recorded the call on my end. While the service agent did her best, it was XXXX XXXX all over again and I explained to her that, given our past experience, I fully expected more fraudulent charges on the card- which they did to the tune of {$100.00}. 

Low and behold, my prediction came true the following day, when more charges were fraudulently made on... you guessed it : the same original debit card! This time, I reported on line and saved the chat on my computer. All of this has left our balance at XXXX, which subsequently increased to {$5.00} for some reason when I called today to let the company know I would be contacting you about the fraudulent charges and the failure of SoFi to protect the account. This call was also recorded on my end, although I did not bother to spend hours rehashing the sequence of events yet another time.

I am concerned not only about our missing funds, but about the entire manner in which SoFi has handled the fraudulent charges and its potential impact on my credit. In reviewing our account, I have also found a fraudulent charge made on the same debit card back in XXXX that I was not aware of and that I will report to SoFi immediately.

Company response to consumer: Closed with explanation