Consumer complaint received 2026-05-04 00:00:00
Product: Checking or savings account — Checking account
Issue: Opening an account — Didn't receive terms that were advertised
Company: SOFI TECHNOLOGIES, INC.
State: NC

Complaint narrative:
This is my XXXX CFPB complaint regarding SoFi Banks Refer a Friend promotion. I am filing again because SoFi has repeatedly failed to address the core issue raised in my prior complaints ( XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX In both prior responses, SoFi has avoided answering the central question : why XXXX specific referrals completed on XX/XX/year>, during the promotional period, were denied referral bonuses. Instead, SoFi has provided shifting and inconsistent explanations, including : * Initially stating that referrals completed on XX/XX/XXXX would qualify. * Later claiming the promotion ended on XX/XX/XXXX due to a 10,000-account cap. * Claiming my referrals did not use my link. * Stating that referrals did not meet the terms and conditions without specifying which terms or providing any evidence. In their most recent response, SoFi again refused to identify which referrals were denied or explain the basis for denial, citing privacy regulations. This explanation is not sufficient. I am not requesting personal or sensitive information about other individuals ; I am requesting a clear explanation of the eligibility determination for referrals tied to my account, including : * Whether each referral was tracked to my referral link * Whether each referral met the program requirements * The specific reason for any denial SoFi can provide this information without disclosing sensitive personal data. Additionally, SoFis claim that the promotion ended early on XX/XX/XXXX due to a referral cap directly contradicts : * Their written promotional emails stating a XX/XX/XXXX end date * The information provided to me by a XXXX representative on XX/XX/XXXX confirming referrals that day would qualify I relied on these representations when generating the XXXX referrals in question. At least XXXX of these individuals completed the sign-up process using my referral link in my presence, and XXXX has timestamped proof confirming completion on XX/XX/year>. SoFi has also acknowledged that I received incorrect information regarding the promotion timeline but has not addressed the impact of that misinformation on my eligibility. This pattern of inconsistent explanations, lack of transparency, and refusal to provide verifiable reasons for denial raises serious concerns about : * Misrepresentation of promotional terms * Failure to disclose material conditions ( including unclear account requirements ) * Arbitrary or unverifiable denial of earned referral bonuses I am requesting the following resolution : XXXX. Payment of the referral bonuses for the XXXX referrals completed on XX/XX/year>. XXXX XXXX. A complete and verifiable accounting of those XXXX referrals, including : * Confirmation of whether each referral was linked to my referral code * The exact reason each referral was denied * Supporting system evidence ( timestamps, eligibility criteria, and tracking data ) If SoFi continues to deny these bonuses, they must provide clear, specific, and verifiable documentation supporting that decision. General statements and privacy-based refusals are not sufficient to resolve this complaint. I am prepared to provide supporting documentation, including promotional emails, chat transcripts, and timestamped proof from the referred individuals. At this point, SoFis repeated failure to directly address the issue suggests a lack of transparency in how referral promotions are administered and enforced.

Company response to consumer: Closed with explanation