Consumer complaint received 2026-02-16 00:00:00
Product: Checking or savings account — Other banking product or service
Issue: Closing an account — Funds not received from closed account
Company: SOFI TECHNOLOGIES, INC.
State: IN

Complaint narrative:
On XX/XX/year>, I had just under {$300.00} in my XXXX XXXX cash management account by SoFi that I had been using as a supplemental savings account, separate from my primary bank. When I attempted to deposit a check, issued to me, in the amount of {$830.00} from my another of my accounts, I received notification that SoFi was unable to process my check. The email I received from XXXX XXXX by SoFi on XX/XX/year>, stated, " There was an issue with your check, and we were unable to process it. If possible, please try asking for a replacement check. '' Additionally, my account was temporarily restricted. To avoid the inconvenience, I cashed my check through my primary bank without issue. There was no issue with the check, and I left my SoFi account alone, which still had the approximately {$300.00}. 

Throughout XXXX - XX/XX/year>, I continued to receive access to my monthly account statements. 

On XX/XX/year>, I received an email notifying me that my account " will be closed with immediate effect '' for SoFi had identified " activity that suggests a violation of the XXXX XXXX by SoFi Customer Agreement ''. Which meant, I was no longer able to access my account online or the funds in my account. The email stated " The remaining funds in your account will be returned to the originator, as we have determined that you are not the rightful owner. '' I did not see the email until XX/XX/year>, and in response, I immediately contacted customer service. 

On XX/XX/year>, I contacted customer service and spoke to a representative for approximately XXXX minutes in reference to my account closure and the remainder of the funds in my account. I was advised that there were not any detailed notes at that time regarding the account closure and/or the status of the funds ; however, that the funds were to be sent to my address so long as I was deemed as the owner and confirmed my address was correct. I stated that funds had been transferred from my primary account and directly deposited from my tax return ; therefore, I am the rightful owner to the funds in my account and will be expecting a check. By XX/XX/year>, I still had not received my remaining funds. 

On XX/XX/year>, I emailed XXXX in reference to the closure of my account and not receiving the remaining funds in my account. I never received a response. 

On XX/XX/year>, I sent a follow up email to XXXX to my email from XX/XX/year>. I never received a response. 

On XX/XX/year>, I called customer service and spoke to a representative for approximately XXXX minutes. During this call, I was told that no information could be relayed to me. The customer service representative stated they could not answer my questions or give me details about my account. The customer service representative hung up on me. I called back and spoke to another representative for approximately XXXX minutes. During this conversation, I spoke to a XXXX XXXX, who sounded as though there was more care being handled with my issue; although in the background of the call I could hear the voices of multiple people 's voices in a non-work/professional environment setting. I was advised a complaint was filed on my behalf and that I would be informed the result. 

On XX/XX/year>, I received an email from the XXXX XXXX in reference to my complaint. The response stated, " Our XXXX XXXX XXXX conducted a thorough review and determined that there were suspicious activities in your account that were in violation of the XXXX XXXX by SoFi Customer Agreement. Due to these violations, you were not entitled to the remaining funds in the account. Attached to the email was a copy of the " SoFi XXXX XXXX, XXXX XXXX by SoFi Customer Agreement '' terms, of which was not clarified which terms I violated and/or where in the agreement it stated I was not entitled to the remaining funds in my account. 

On XX/XX/year>, I responded to the email from XXXX XXXX sent on XX/XX/year>, stating I would be filing a complaint with the Consumer Financial Protection Bureau. On XX/XX/year>, I received a response email from the XXXX XXXX stating my complaint was escalated to their member advocacy team. 

On XX/XX/year>, I received an email from the member advocacy team stating " We are actively reviewing and researching this concern. '' On XX/XX/year>, I received a certified letter in the mail regarding the " Acknowledgment of Complaint '' in which the letter describes that when I submitted my check for mobile deposit, the account activity violated the agreement, in which they identified as suspicious, irregular, unauthorized, fraudulent, or illegal, etc., and therefore, closed my account. Further, the letter states, No remaining funds were owed to you. The letter does not state where the remainder of my funds, approximately {$300.00}, went. 

On XX/XX/year>, I responded to the email from XXXX XXXX XXXX sent on XX/XX/year>, regarding the certified letter I received. I clarified the complaint was in reference to the remaining funds in my account and why I had not received them, not necessarily the account closure. I never received a response. 

On XX/XX/year>, I sent a follow up email to XXXX XXXX XXXX to my email from XX/XX/year>. I never received a response.

Company response to consumer: Closed with explanation