Consumer complaint received 2025-08-08 00:00:00
Product: Checking or savings account — Checking account
Issue: Closing an account — Company closed your account
Company: SOFI TECHNOLOGIES, INC.
State: MA

Complaint narrative:
Complainant XXXX XXXX XXXX XXXX XXXX XXXX XXXX ma XXXX XXXX XXXX Financial Institution : SoFi Bank, N.A.

Summary of Complaint : SoFi Bank falsely accused me, in writing, of attempting to commit fraud in connection with two USPS money orders totaling {$480.00}. This allegation was made without proper investigation and in direct contradiction to verifiable federal government records that prove the money orders were legitimate, active, and purchased by me.

Chronology of Events : XXXX. On or about XXXX I deposited two USPS money orders into my SoFi account.

2. SoFi claimed the money orders appeared faded and closed my account.

3. I explained to the banks representative that the fading occurred when my wallet was submerged in chlorinated pool water after an accidental push by my XXXX nephew. 
4. I provided instructions to SoFis representative on verifying the money orders via the USPS government verification website. That verification confirmed they were active, funded, and undeposited.

5. SoFi ignored this verification and instead issued a written statement accusing me of fraud.

Key Facts & Evidence : SoFis For SoFi Only endorsement requirement eliminates the possibility of double-deposit fraud.

USPS money orders are backed by the United States Government and can be verified in real time.

I have located the original USPS purchase receipts ( primary documentary evidence under the Best Evidence rule ). These are serialized, date-stamped, and carry a legal presumption of accuracy.

USPS verification as of XX/XX/year>, XXXXXXXX XXXX EST confirms both money orders remain active, funded, guaranteed, undeposited, and issued by USPS.

Regulatory & Legal Concerns : SoFis conduct potentially violates : Truth in Banking & Fair Banking Practices ( OCC oversight ) failure to conduct reasonable investigation before account closure and accusation.

CFPB Unfair, Deceptive, or Abusive Acts or Practices ( UDAAP ) baseless fraud allegation despite contradictory objective evidence. 
Defamation written publication of false criminal accusation. 
Breach of Contract wrongful account closure and refusal to honor lawful deposit.

Tortious Interference disruption to my financial standing and business operations.

Damages : Reputational harm from false fraud allegation.

Loss of access to banking services.

Business interruption.

Emotional distress from being falsely accused of a federal crime.

Relief Requested : I request that regulators compel SoFi Bank to : 1. Retract the fraud allegation in writing.

2. Provide written documentation of the evidence used to support their claim.

3. Compensate me for financial, reputational, and emotional damages caused by this false allegation.

4. Review SoFis fraud investigation procedures to prevent similar misconduct toward other customers.

Supporting Documentation Provided : USPS purchase receipts for both money orders.

USPS verification screenshots confirming active/funded status.

SoFis written fraud accusation.

Detailed account closure correspondence.

Statement : This is a clear case where a financial institution ignored federal verification systems and primary documentary evidence, made a false criminal allegation in writing, and caused substantial harm without justification. I request immediate regulatory investigation and enforcement action. 

Signed : XXXX XXXX

Company response to consumer: Closed with explanation