SoFi reserves the right to suspend or terminate your account or access to its services, which could affect your ability to access funds or financial products.
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
For users who hold SoFi bank accounts, loans, or investment accounts, a termination of access could interrupt financial services that users depend on for daily transactions or ongoing financial obligations.
Interpretive note: Verbatim clause text was not available in the truncated document; characterization is based on standard SoFi Terms of Use structure rather than directly quoted language.
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 →The agreement reserves SoFi's right to suspend or terminate account access, potentially affecting access to bank account funds, active loan accounts, or investment positions held through SoFi platforms.
How other platforms handle this
If we become aware that a child has provided us with personal data without parental consent, we remove such data and terminate the child's account (except where we are required to retain all or a portion of such data for compliance purposes).
we have adopted a policy of terminating, in appropriate circumstances, the accounts of users who repeatedly infringe the intellectual property rights of others.
If we learn that we've collected the personal data of a child under the age of 13 or 16, as applicable, we'll take reasonable steps to delete the personal data. This may require us to delete the Skillshare account...
(1) REGULATORY LANDSCAPE: Account termination provisions in deposit accounts are subject to applicable state unclaimed property laws and FDIC regulations governing account closure procedures.
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For users who hold SoFi bank accounts, loans, or investment accounts, a termination of access could interrupt financial services that users depend on for daily transactions or ongoing financial obligations.
The agreement reserves SoFi's right to suspend or terminate account access, potentially affecting access to bank account funds, active loan accounts, or investment positions held through SoFi platforms.
ConductAtlas has identified this type of provision across 276 platforms. See the full comparison.
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