The agreement states that users consent to receive all legally required account communications, regulatory disclosures, and notices electronically via email or through the SoFi platform rather than in paper form.
This analysis describes what SoFi's agreement states, permits, or reserves. It does not constitute a legal determination about enforceability. Regulatory applicability and practical outcomes may vary by jurisdiction, enforcement context, and individual circumstances. Read our methodology
This provision establishes the legal basis for SoFi to deliver federally mandated financial disclosures electronically under the E-SIGN Act, covering documents such as account agreements, regulatory notices, and account statements for banking, lending, and investing products.
The updated terms establish a new holding structure for the SoFi Plus 1% investment match benefit. Previously, members needed to maintain SoFi Plus membership for one continuous year from each deposit settlement to retain the match; the updated terms now require deposits to remain in the investment account for five years to retain the full match amount. The promotional period for this benefit restarted on August 18, 2026 and now runs through an unspecified termination date set by SoFi. Early withdrawal or account closure within the five-year period will result in loss of the match amount, though SoFi removed the explicit cancellation fee language in favor of forfeiture through the holding requirement. A limited-time 1% Deposit Match Offer available August 18-31, 2026 can now be combined with the main benefit if qualifying deposits and holding periods are independently satisfied for each offer.
View change record →The updated terms establish new conditions for SoFi's referral promotion that became effective on August 5, 2026. New account holders must now deposit $500 or more (rather than $50) within 21 days to qualify for the $50 Standard Bonus. For those subscribing to SoFi Plus, the terms now explicitly require that the $10/month payment be processed and validated by SoFi within the same 21-day window. Under the revised promotion period running through September 30, 2026, these higher activation thresholds apply to all new referrals.
View change record →The updated terms accelerate the referral promotion deadline to August 4, 2026, and impose tighter timing requirements on eligible recipients: accounts must open before the promotion ends, and deposits must settle within 21 days of both opening the link and registering or logging in as a SoFi user. This creates a more compressed eligibility window than the previous 21-day window measured from clicking the link alone. For SoFi Plus members, the updated terms now state that SoFi will automatically enable Overdraft Protection linking individual checking accounts to individual savings accounts (and joint accounts to joint accounts), allowing available savings to cover checking overdrafts without fees. You can disable Overdraft Protection at any time through the SoFi app or website, and funds applied to overdraft protection are limited to savings deposits not allocated to a Vault.
View change record →Under this clause, SoFi is authorized to deliver legally required disclosures and account documents electronically; users who prefer paper documents may be able to withdraw electronic consent, though the agreement states that withdrawal may affect access to certain services.
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"By using the SoFi platform or opening an account, you consent to receive all communications, agreements, documents, notices, and disclosures (collectively, 'Communications') that we provide in connection with your SoFi account and your use of our services electronically. Communications may be provided by email to the email address associated with your account, by posting to the SoFi website or mobile application, or by other electronic means.Excerpt from SoFi's Terms of Service
(1) REGULATORY LANDSCAPE: This provision engages the Electronic Signatures in Global and National Commerce Act (E-SIGN), 15 U.S.C.
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This provision establishes the legal basis for SoFi to deliver federally mandated financial disclosures electronically under the E-SIGN Act, covering documents such as account agreements, regulatory notices, and account statements for banking, lending, and investing products.
Under this clause, SoFi is authorized to deliver legally required disclosures and account documents electronically; users who prefer paper documents may be able to withdraw electronic consent, though the agreement states that withdrawal may affect access to certain services.
ConductAtlas has identified this type of provision across 296 platforms. See the full comparison.
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