Consumer complaint received 2025-10-02 00:00:00
Product: Checking or savings account — Other banking product or service
Issue: Managing an account — Deposits and withdrawals
Company: SOFI TECHNOLOGIES, INC.
State: SC

Complaint narrative:
I opened a XXXX and a brokerage account with Sofi. When funding the account I used a high interest savings account that I was closing. When I set up a recurring deposit for the accounts it defaulted to original deposit account resulting in over draft fees. Once I found this out I transferred money from the correct account in order to cover the over draft fees and had the original account unlinked from the Sofi accounts.

The next day I received an email saying that my brokerage and XXXX accounts were restricted. This was XXXX call in that day and was told that department did not work on weekends and I would have to call back on Monday XX/XX/XXXX to resolve the issue. I spoke with a Sofi rep on XX/XX/XXXX and was told that it should be cleared up that day and I would receive a message with the findings. I did not. On XX/XX/XXXX automated with draws were set up to move money into the XXXX and brokerage accounts for retirement investments. They did not. I received an error message saying to try again latter. The next day XX/XX/XXXX I called back in and was told that the issue would be resolved that afternoon and I would be sent an update. It was not. I opened an account with XXXX of their competitors and requested rollovers for a IRA and the XXXX account. The IRA went through but I received an email on the XXXX asking me to contact Sofi as they were not allowing the transfer to proceed. I spoke with a rep with XXXX on XX/XX/XXXX. Sofi will not tell me why the account is restricted or give me a time line for a resolution. Only they hope to have it resolved soon. There is over {$10000.00}. in these XXXX accounts that I have no access to. The is the SMS conversation from XX/XX/XXXX, XX/XX/XXXX, XXXX and XXXX. 

ACCOUNT RESTRICTION INQUIRY FROM : XXXX XXXX. < * * * @ * * *. * * >, XXXX XXXX. < * * * @ * * *. * * > XXXX XXXX. < * * * @ * * *. * * > XX/XX/XXXX XXXX XXXX, Thank you for reaching out to SoFi XXXX! 
Please respond to this message so that I can confirm that you have received it. By sending a response, you will effectively create a direct line of communication between you and me. 
I've reached out to out member security team for more information and will follow up once I hear back. Request # XXXX for your reference. 
Feel free to reach out with any comments or concerns. Thanks! 
XXXX XXXX XXXX XX/XX/XXXX Any updates on this? 
XXXX XXXX. < * * * @ * * *. * * XXXX XX/XX/XXXX Not at this time, but I will reach out when I have heard back. 
XXXX XXXX XXXX XX/XX/XXXX Any updates? I would like to complete these transactions. 
XXXX XXXX XXXX XX/XX/XXXX This process is not working. What are the other options to resolve this? As of now SoFi has XXXX of my accounts basically frozen and they have been that way for over a week. How do we proceed from here? 
XXXX XXXX XXXX XX/XX/XXXX Any updates? 
XXXX XXXX. < * * * @ * * *. * * > XX/XX/XXXX I've now escalated this case to a member security team XXXX and hope to hear back shortly. 
XXXX XXXX XXXX XXXX hours ago Good morning, any follows today? 
XXXX XXXX XXXX XXXX hour ago Can you explain this new email please? 

Dear XXXX, XXXX XXXX, your account safety is our top priority. We are reaching out to let you know that we recently noticed irregular activity on your SoFi XXXX account. 
For your protection, your account has been temporarily restricted while our team investigates the nature of the activity. We apologize for the inconvenience, but during this time you will not be able to complete any withdrawal activity on your invest account or transfer funds. 
Please reach out to us as soon as possible to review your account. Failure to respond within XXXX calendar days may result in account closures to protect your funds. You can contact us at XXXX, press ' XXXX ', or say 'security ' to connect with the SoFi XXXX XXXX XXXX XXXX 
We appreciate your immediate attention to this matter to help us resolve this issue quickly. If you have already been in touch with us about this restriction, thank you, and please disregard this message. 
Best, The XXXX XXXX XXXX XXXX XXXX XXXX XXXX hour ago Non of this seems to be in my best interest. What is needed to resolve this? 
XXXX XXXX. < * * * @ * * *. * * > XXXX minutes ago XXXX XXXX, That email was sent by our member security team because apparently there was some activity in the account that raised some flags for them. 
Please give them a call using the instructions provided in the email for the best chance of getting this resolved as quickly as possible. I'm sorry for the inconvenience, I wish that I was able to provide you with additional information, but unfortunately I am not privy to the member security teams process. 
Let me know if there is anything else I can do for you.

Company response to consumer: Closed with monetary relief