Consumer complaint received 2024-07-24 00:00:00
Product: Checking or savings account — Checking account
Issue: Closing an account — Company closed your account
Company: SOFI TECHNOLOGIES, INC.
State: TX

Complaint narrative:
This is an addendum to my previous complaint since I can not add to it. 

Complaint number XXXX I was finally able to locate the email they sent regarding the account closure. They cite that the closure was because the account was a Cash Management Account that was charged off and not a traditional checking and savings. No where in the original welcome email or documents does it disclose that the account was a cash management account which they call SoFi XXXX, only that it was a normal bank account that most folks are familiar with. 

While yes the checking account was overdrawn its only been a little over two months since it happened and I had every intention of putting money back into it but Ive been fighting serious financial setbacks since I was illegally fired from my 5 year position at my former employer. It took 3 months just to get my unemployment approved and several appeals, so this is just another fight. 


With that said : A XXXX is similar to a brokerage account, and at the time I created my SoFi account I already had two of those so no need for another. I have attached the offer I completed with SwagBucks to show that this was intended to be a normal checking and savings but with high yield savings provided I met a specific direct deposit criteria and that it also states that there is no minimum balance to keep the account open and not a XXXX. 

I will also attach the welcome email I was provided which also shows that what I signed up for was not a XXXX but a normal checking account. And in that same welcome email it proves that they considered SoFi XXXX and SoFi checking and savings separate products. I spoke to some XXXX lady on the phone about an hour and a half ago who tried to claim it was the same product so even support is lying to customers. 

Included is also the chat message from within the app and the closure email that speaks of it being a cash management account. Something I never signed up for nor was disclosed to me by SoFi. 

It is starting to sound like SoFi is going to steal my unemployment check as the closure was on the same day it was deposited and within the same time frame as my unemployment deposit. I feel like they are going to try to hold that money until I either give up or lawyer up and make them give it back. By that point Ill be so far in the hole I will be literally living in my car because Ive lost everything. SoFi is absolutely doing something shady and dishonest here and I believe others have had this happen too and didnt realize it. 

This is an absolutely disgusting bait and switch behavior and I know this is illegal to do to unsuspecting people. Especially if they made policy changes without notice. They never disclosed this in their documentation when i signed up so I feel like they are trying to pull a greedy fast one. The company XXXX be headed for bankruptcy and the only people who know are the ones within the company so the have to get paid somehow so they use money from accounts the close randomly and claim the customer did the wrong thing when they never did. That seems like what is actually going on. 

Again never signed up for SoFi XXXX XXXX, I signed up for their checking account product. It is not the same thing they are separate per the attached documentation. It even shows in the welcome email that they consider them separate products. 


Facts : Sofi checking and savings permanently closed XXXX XXXX Unemployment check in the amount of {$4600.00} sent XXXX XXXX XXXX support rep claims the checking and savings was a XXXX when it was not. 
Last time money was in this account was XX/XX/year> XXXX since XX/XX/year> Checking and savings primarily used for entertainment budget Customer support was of no help and when asked for a XXXX they kept putting me on hold claiming to find one but conveniently never could and then stonewalled me. 
Have been fighting to get my unemployment benefits since XXXX and finally was able to successfully appeal on Monday XX/XX/year>. 
I have been checking SoFi daily just in case money of any kind has been deposited because I have no money for bills or food.

Company response to consumer: Closed with explanation