Consumer complaint received 2025-06-10 00:00:00
Product: Payday loan, title loan, personal loan, or advance loan — Installment loan
Issue: Problem when making payments — 
Company: SOFI TECHNOLOGIES, INC.
State: NY

Complaint narrative:
b'o: California Department of Financial Protection Innovation\nFrom: XXXX XXXX XXXX XXXX XXXX XXXXSubject: Blocking of Personal Loan Payment\n\nDate: XXXX XXXX XXXXnI want to make a complaint about SOFI bank.  \nI believe that they intentionally prevented me from making my loan payments in advance(as I had originally intended to make  an average of three advance payments each month to cut down on interest ).  I need them to go back and deduct the interest that I incurred because of them not allowing me to make those advanced payments I made but was rejected in their system.\nI am also concerned that if they did this to me, other customers are probably experiencing the same issue I had.\n\nI applied for a personal loan from Sofi Bank for XXXX XXXX dollars and it was approved.  I gave them instructions to deposit the personal loan into my XXXX XXXX XXXX XXXX  savings account and on  XXXX XXXX XXXX XXXX XXXX loan was deposited in my XXXX XXXX XXXX XXXX checking account instead.  My monthly loan payment was scheduled for monthly auto-pay on the XXXX XXXX of each month.  The monthly payment at the time was XXXX per month with auto-pay.\n\nIt was my intent to make three payments each month (apart from the monthly auto-payment) in order to reduce the interest and principal on the personal loan.  On the XXXX XXXX XXXX XXXX XXXX XXXX XXXX,  I made three separate payments from my same XXXX XXXX XXXX XXXX  checking account in the amount of XXXX  each.  I would have bundled the payment to pay XXXX XXXX XXXX XXXX XXXX  but the Sofi payment system was set up to where:\n-you could not pay more than the fixed monthly payment amount and\n-you could not make more than one payment per day.\n\nEverything looked fine when I made the three depodits.\nWhen I checked my Sofi Personal account on the XXXX XXXX XXXX XXXX it said my payment on the XXXX XXXX XXXX failed. Eventually, all the other two payments I made on thXXXX XXXX XXXX XXXX XXXX XXXX said the payments failed.  I didnt understand how they were able to deposit XXXX in my XXXX XXXX XXXX XXXX  checking account but they were not able to accept my payments through the same system.\nI made numerous calls and spent hours on the phone speaking to Sofi representatives and supervisors to resolve the issue.  Speaking to them, I would repeat the same transactions while they were on the phone but over 24 hours later when I went into my account it still rejected the payment - they told me that something was wrong with the account number but everything was correct.  I was still puzzled about how they managed to deposit the XXXX XXXX my checking account and why I was not able to make any payment to them with the same account.  We would keep going over the account number and it would keep rejecting the payment according to the Sofi Bank representatives.  I was even more frustrated when I called to speak to supervisors and was told that I would get a call-back to which they never once returned my call; it was the worst customer service I ever had.  I definitely felt like a nobody to them.\nSupervisors promised that when this issue was rectified that they would back date my loan to save the amount of interest that it increased by.  \nI did get one call from a Sofi representative asking me to make a payment because my account was in a delinquent status - past my due date of  XXXX XXXX XXXX  I asked her to check the notes in my account and she knew that I had been trying to make my payments but they were the problem. \nFinally, oXXXX XXXX XXXX XXXX I spoke to a representative who finally fixed the issue; she was able to put in my XXXX XXXX XXXX payment in on XXXX XXXX XXXX without it showing any delinquency on my part.  I waited a couple days to make sure the payment was not rejected.  After knowing that, I activated auto-pay XXXX XXXX XXXX    I called again oXXXX XXXX XXXX XXXX  I asked to speak to a supervisor.  I asked them to please, make the adjustment; to reinstall the payments I initially made on XXXX XXXX XXXX XXXX XXXX XXXX and calculate and reduce the interest that my account incurred.  They told me it was not possible.  This was not what they said before.  When I checked my account after they claimed to fix their system since my XXXX XXXX XXXX payment was made on XXXX XXXX XXXX, out of my payment of XXXX XXXX XXXX was applied to interest and $XXXX to principal.\nSofi Bank has been very unfair to me and I think this interest that they are charging me is an unfair business practice.  I spoke to therm and they do not care.  \nI am reporting them so that you can do a formal investigation into this bad business practice and I need them to adjust my payment so I can cut this interest.  If I could I would give back this loan without interest and find some other Bank to give my business.  \n\nI have evidence in my Sofi Bank account to support this issue. Every time I call the telephone automated system said all calls are recorded.  They have not sent me any emails for this issue I spoke to them about.  They dont even return calls unless for delinquent payments.  The only thing they are concerned about is interest-Money.\n\nPlease contact me by Email or phone.  I will add my contact information below\n\nThank you,\n\nXXXX XXXX XXXX XXXX

Company response to consumer: Closed with explanation