Consumer complaint received 2026-04-21 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 complaint follows a prior CFPB complaint ( Case # XXXX ) regarding SoFis Refer a Friend promotion. I am submitting this new complaint because SoFis response to the original complaint did not address the core issue I raised. In my original complaint, I specifically identified four referrals completed on XX/XX/year>, during the valid promotional period, for which I did not receive referral bonuses. However, SoFis response only provided a general summary of total referrals and stated that some did not meet the terms and conditions, without identifying the specific referrals in question, explaining what terms were not met, or providing any supporting evidence. This failure to address the actual issue has made it necessary to file a new complaint. On XX/XX/year>, I relied on SoFis written promotional emails and direct confirmation from a SoFi representative that referrals completed that day would qualify for the bonus. Based on that information, I generated four specific referrals on XX/XX/year>. These individuals used my referral link and completed the account sign-up process within the promotional period. Three completed the process in my presence, and one referral ( XXXX ) has timestamped proof confirming the account was opened on XX/XX/year>. Despite this, SoFi has refused to pay the referral bonuses and has provided multiple conflicting explanations, including : * An incorrect claim that the promotion ended on XX/XX/XXXX, contradicting their own written communications stating XX/XX/XXXX. * A claim that my referrals did not use my link, despite direct evidence that they did. * A claim that the referral cap had already been reached. * A vague assertion that certain referrals did not meet the terms and conditions, without specifying which referrals or what requirements were not met. Additionally, SoFi failed to clearly disclose material terms of the promotion. It was not made clear during the referral process that referred individuals were required to open both a Checking and Savings account, rather than simply completing account creation. This lack of clear disclosure contributed directly to the denial of referral bonuses. SoFi has acknowledged that I received misinformation regarding the promotion end date but has not addressed the impact of that misinformation on my actions or eligibility. I am requesting that SoFi : 1. Identify the four specific referrals from XX/XX/year> that were denied. 2. Provide a detailed explanation of why each of those referrals allegedly did not meet the terms and conditions. 3. Provide documentation or system evidence supporting those determinations. 4. Clarify the exact requirements for a successful referral and where those requirements were disclosed at the time of the promotion. 5. Issue the referral bonuses for all eligible referrals completed on XX/XX/year> in accordance with the promotion as it was communicated to me. I am prepared to provide supporting documentation, including promotional emails, chat transcripts, and timestamped proof from the referred individuals.

Company response to consumer: Closed with explanation