Consumer complaint received 2025-06-27 00:00:00
Product: Checking or savings account — Savings account
Issue: Managing an account — Banking errors
Company: SOFI TECHNOLOGIES, INC.
State: CA

Complaint narrative:
XX/XX/year> I called SoFi Bank to confirm the process of linking my non-SoFi bank account to my SoFi account in order to transfer funds. According to the representative, when linking a non-SoFi account, the process requires verification through a trial deposit or micro-deposit for security purposes. I initially thought the verification process would appear immediately in my account, which is why I called. However, SoFi informed me that it typically takes XXXX business days for the micro-deposit amounts to appear, allowing me to complete the verification. 

XX/XX/year> Fortunately, I received the trial micro-deposit on this day and was able to confirm the link using the small deposited amounts. Once the verification was completed, I proceeded to transfer {$1500.00} from my non-SoFi bank to my SoFi account. After initiating the transfer, it showed as " pending '', which is expected, and the transferred amount still appeared in the total balance of my non-SoFi bank account app. 

XX/XX/year> Today, I called SoFi to follow up on the {$1500.00} transfer I made yesterday ( XX/XX/XXXX at XXXX AM ). My non-SoFi banking app shows the transfer as completed, and the amount has already been deducted from my balance. However, when I checked my SoFi account, there was no trace of the transfer -- no pending status, no transaction details -- nothing to indicate that any transfer was in progress or had been received. 

When I contacted SoFi customer service, the representative said they could only see the XXXX micro-deposits from the previous day but had no record of the {$1500.00} transfer. What surprised me even more was that the representative mentioned XXXX XXXX XXXX. This raised serious concerns for me, as I had previously reported a security issue involving XXXX XXXX XXXX back in XX/XX/year>. At that time, money was withdrawn from my account without my authorization. After investigation, I was assured that my account would be secured, and they closed my old account and issued a new one. 

Despite these assurances, I was alarmed to hear XXXX XXXX XXXX  mentioned again, especially since I had made it clear in previous communications that I have no affiliation with that bank. This raises the question : what was the point of closing my old account and issuing a new one if the same issue could reoccur? 

Now, I'm being told that my recent transfer can not be located. Instead of providing a clear explanation or assistance, I was unexpectedly issued a support ticket for this issue -- something I did not anticipate when I simply called to ask for clarification. To make matters worse, SoFi has restricted my account without notifying me, even though there was no outgoing or suspicious transaction involved in this case. 

I want to emphasize that I did not call to report any fraudulent activity. I called only to confirm why there in no trace, record, or pending status for the {$1500.00} fund transfer I initiated. My concern is about the transparency and visibility of my transaction -- not about unauthorized access or suspicious activity. 

Now, I'm left uncertain whether the transfer I made will ever appear in my SoFi account. I haven't received a clear explanation, and instead of reassurance, I've been left with even more concerns and questions about the safety and reliability of my banking experience with them.

Company response to consumer: Closed with explanation