SoFi modified its SoFi Plus investment match promotion in an update detected on August 18, 2026. The prior offer required SoFi Plus membership for one continuous year; the revised terms eliminate this requirement and instead require deposits to remain in the account for five years to retain the full 1% match. The prior offer also included a 'cancellation fee' (full forfeiture of the match) if subscription was canceled within one year; the updated language removes the cancellation fee structure and replaces it with a five-year holding requirement. SoFi also expanded the definition of eligible accounts from 'taxable accounts' to 'non-retirement accounts' and added a limited-time complementary 1% deposit match offer (August 18-31, 2026) that can be combined with this promotion.
Consumers: To keep the full 1% match you receive on deposits, you must now leave the money invested for five years instead of just maintaining SoFi Plus membership for one year.
Consumers: You are no longer subject to a cancellation fee if you end your SoFi Plus membership, but you must still keep deposits in the account for five years to retain the full match.
The updated terms restructure how SoFi Plus members earn and retain the 1% investment match. Prior terms required continuous SoFi Plus membership for one year from each deposit's settlement date; if membership was canceled before one year, the full match was forfeited via a cancellation fee. The revised terms eliminate the cancellation fee and one-year subscription requirement entirely. Instead, the terms now require that deposits remain in the account for five years from settlement to keep the entire match amount; early withdrawal (or transfer) would result in loss of the match. The revised terms also expand eligible account types from 'taxable' accounts to 'non-retirement accounts' and add an explicit temporary offer (August 18-31, 2026) that can be combined with the main promotion. You can review the SoFi Bank Rate Sheet for current rates and the specific definition of eligible deposits and account types.
→ Review the revised SoFi Bank Rate Sheet to confirm the definition of 'non-retirement accounts' and eligible deposit types.
→ Assess your five-year investment horizon for deposits intended to receive the 1% match, as early withdrawals will forfeit the match amount.
→ If you are considering discontinuing SoFi Plus, note that the cancellation fee no longer applies, but deposits must remain invested for five years to preserve the match.
This is the 4th significant Payout Terms Change change SoFi has made since ConductAtlas began monitoring.
ConductAtlas has recorded 4 material changes to this document over 36 days of monitoring (since July 2026). An additional minor or cosmetic changes were excluded.
Across all monitored documents, SoFi has made 19 significant changes.
12 of SoFi's significant changes have been classified as negative for consumers.
Changed from one-year SoFi Plus membership requirement to five-year deposit retention requirement to preserve the full 1% match.
Removed the structure imposing full match forfeiture (via cancellation fee) if SoFi Plus membership ended within one year.
Broadened eligible accounts from 'taxable accounts' to 'non-retirement accounts', clarifying scope and potentially expanding eligibility.
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
SoFi restructured the promotional mechanics of its SoFi Plus investment match offer in an update detected on August 18, 2026. The change removes the one-year SoFi Plus subscription lock and associated cancellation fee, replacing both …
Regulatory exposure, obligation change, escalation trigger, board-ready language, and recommended action for legal and compliance teams.
Unlock the full institutional analysis — InsightConductAtlas provides verified policy intelligence sourced directly from platform documents. All analysis is intended to support, not replace, legal and compliance review. Record CA-C-004475.
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