Checking or savings account -- Managing an account -- Complaint #5759092
Complaint Overview
Complaint ID: 5759092
Company: Social Finance, INC.
Product: Checking or savings account
Sub-Product: Checking account
Issue: Managing an account
Sub-Issue: Banking errors
State: Massachusetts
ZIP Code: 014XX
Date Received: 2022-07-11T12:00:00-05:00
Date Sent to Company: 2022-07-11T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
SoFi XXXX offered a promotional bonus to convert from their " Money '' account product to their new " Checking and Savings '' accounts. The bonus terms require direct deposits totaling > $ XXXX within 30 days of the account conversion for {$300.00}. I satisfied the direct deposit requirements but have not received my bonus. XXXX : I receive a marketing email about the bonus and save it as a PDF XX/XX/XXXX : I navigate to the promotional terms as shown on their website and save it as a PDF before enrolling XX/XX/XXXX : I convert my " Money '' account to " Checking and Savings '' XX/XX/XXXX : I receive a {$4600.00} direct deposit from my employer ( XXXX ) into the account XX/XX/XXXX : I receive a {$4200.00} direct deposit from my employer ( XXXX ) into the account XX/XX/XXXX : Having still not received my payout, I contact their customer service via " Live Chat '' and am told : " SoFi XXXX members who previously received a bonus for enrolling in direct deposit do not qualify for this promotion ''. These terms were NOT present at the time I enrolled in the bonus- they were retroactively added by SoFi well after my enrollment.
Frequently Asked Questions
What is Complaint #5759092 about?
Complaint #5759092 was filed against Social Finance, INC. regarding Checking or savings account specifically about Managing an account. It was received by the CFPB on 2022-07-11T12:00:00-05:00.
How did Social Finance, INC. respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Checking or savings account) and describe your issue in detail.
Can I see other complaints against Social Finance, INC.?
Yes, visit the Social Finance, INC. company profile at readthecomplaint.com/company/social-finance-inc to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.