SoFi updated its SoFi Plus subscription terms on May 19, 2026, making several clarifications and operational adjustments. The company changed references from 'every 30 days' to 'every month' for billing cycles across ACH transfers and credit/debit card payments, updated terminology from 'Customers' to 'Members', and added new language stating that SoFi may modify the subscription fee or billing interval upon advance notice. The terms now specify that the recurring debit authorization remains in effect until you update your payment method or cancel, rather than only upon cancellation.
The updated terms establish that SoFi may modify the SoFi Plus subscription fee or billing interval upon advance notice to you. Previously, the terms did not explicitly reserve this modification right. The billing cycle language changed from 'every 30 days' to 'every month', which operationally clarifies the payment frequency. The terms now state that your recurring payment authorization ends if you update your payment method or cancel your subscription, creating an additional condition beyond cancellation alone. Under the revised language, you should monitor advance notices from SoFi regarding potential fee or billing interval changes.
The updated terms explicitly authorize SoFi to modify subscription fees and billing intervals upon advance notice, establishing a contractual right to unilateral modification that was not previously stated. This affects pricing predictability for subscribers and may engage state automatic renewal laws that impose specific requirements for how and when subscription modifications can be communicated and implemented. The clarification that payment authorization terminates upon payment method change (not just cancellation) affects how recurring charges are processed and how subscribers can control ongoing billing.
→ Monitor advance notifications from SoFi regarding any SoFi Plus fee or billing interval changes
→ Update your payment method if you want to stop recurring charges immediately
→ If SoFi modifies the subscription fee or billing interval upon advance notice, the new terms will apply as written at the next billing cycle.
→ Your standing payment authorization will continue to charge your current payment method each month unless you cancel the subscription or update your payment method.
ConductAtlas has recorded 3 material changes to this document (since May 2026). An additional minor or cosmetic changes were excluded.
Across all monitored documents, SoFi has made 8 significant changes.
6 of SoFi's significant changes have been classified as negative for consumers.
SoFi now explicitly reserves the right to modify subscription fees or billing intervals upon advance notice, a previously unstated contractual authority.
Recurring payment authorization now ends upon payment method update or cancellation, rather than cancellation alone, creating an additional mechanism to stop charges.
This change record describes what was added, removed, or modified in the document. Analysis reflects what the updated agreement states or permits. It does not constitute a legal determination about enforceability. Applicability may vary by jurisdiction. Methodology
Your SoFi Plus subscription fee or how often you are billed can change if SoFi notifies you in advance.
If you change how you pay for SoFi Plus, your standing authorization to charge the old payment method automatically ends.
+ 1 more obligation changes. Full breakdown available with Monitor.
Track changes →SoFi's updated terms explicitly reserve the right to modify subscription fees and billing intervals upon advance notice, a right that was not previously stated. This creates a new contractual assertion of unilateral modification authority. The terms also clarify that recurring payment authorization terminates not only upon cancellation but also upon payment method update. These changes may engage state consumer protection statutes governing automatic recurring charges and negative option billing, depending on jurisdiction. Compliance teams should assess whether the advance notice requirement and scope of permissible modifications comport with applicable state law (e.g., California's automatic renewal laws, New York's automatic renewal law, federal ROSCA/TILA requirements). The authorization termination upon payment method change aligns with common billing practices but represents a newly explicit contractual condition.
FTC Act Section 5 (unfair or deceptive practices in automatic recurring charges); state automatic renewal and negative option billing laws (California Consumer Legal Remedies Act, New York General Business Law Section 527, similar state statutes); potential EFTA/Regulation E applicability if ACH components are material
Full compliance analysis
Obligation analysis, escalation trigger, board language, and recommended action.
Monitor: regulatory citations + obligations. Compliance: full compliance memo.
ConductAtlas provides verified policy intelligence sourced directly from platform documents. All analysis is intended to support, not replace, legal and compliance review. Record CA-C-002172.
See the full side-by-side comparison of every sentence added, removed, and modified.
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