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SOFI TERMS OF USE AGREEMENT
Last Modified: April 29, 2021
Welcome to SoFi!
This Terms of Use Agreement (this “Agreement”) sets forth the terms and
conditions that apply to your access and use of the online functions, products,
and services made available to you by Social Finance, Inc. and any and all of
its subsidiaries and affiliates.
You can access SoFi products and services through our SoFi website (located at
www.sofi.com) and the SoFi mobile application (the “SoFi App”) as well as
through websites and mobile applications operated by SoFi with partners. SoFi
may maintain phone, email, and additional websites that allow you to access SoFi
products and services. All of these channels are referred to collectively in
this Agreement as the “SoFi Site.”
Through the SoFi Site you may access many different products and services
offered by Social Finance Inc. and its subsidiary and affiliated companies,
including, but not limited to: SoFi Bank, National Association, SoFi Lending
Corp. or an affiliate, SoFi Securities, LLC, SoFi Wealth LLC, SoFi Credit LLC,
SoFi Digital Assets, LLC, and Social Finance Life Insurance Agency, LLC. We use
the name “SoFi” to refer to any and all of the companies owned by or affiliated
with Social Finance, Inc. You may access more information about each SoFi
company through the Legal page on the SoFi Site. SoFi may add new operating
companies from time to time to offer additional products and services.
To use the SoFi Site and to obtain any SoFi product or service, you must agree
to SoFi’s E-Sign Agreement, which means your acceptance of this Terms of Use
Agreement and all other agreements with SoFi, such as our GLBA Privacy Notice
and Arbitration Agreement, are effective and binding on you just as if you had
signed the document with pen and ink, and you agree all communication with you
related to SoFi and any SoFi product or service may be in electronic form.
Your acceptance of this Terms of Use Agreement is required to use the SoFi Site
and to obtain any product or service offered on the SoFi Site. By using the SoFi
Site to obtain any SoFi product or service, you agree to be bound by this Terms
of Use Agreement just as if you have signed the document with pen and ink.
If you do not wish to be bound by this Terms of Use Agreement, then do not
access or use the SoFi website or mobile application, do not click “accept” to
register with SoFi, and do not submit any account application, loan inquiry,
loan request, or other product request. Taking any of these actions means you
agree to this Terms of Use Agreement just as if you had signed it with pen and
paper.
You may only accept this Agreement and use the SoFi Site if you are legally
authorized to accept and be bound by these terms and of a legal age to enter
this Agreement.
If you have questions or comments about these Terms of Use, please email us at
info@sofi.org
Please note this Terms of Use Agreement contains General Terms applicable to all
users PLUS sections with terms that apply to you if you use specific SoFi
products and services.
TABLE OF CONTENTS
I. GENERAL TERMS
II. SPECIFIC ADDITIONAL TERMS AND CONDITIONS
If you use ANY of the following SoFi products or services, please read the terms
applicable to each — these terms apply to you.
1. Connected Accounts
2. Relay (Personal Finance Management Tools)
3. Credit Score Monitoring
4. At Work Services (If you reach SoFi through your Employer)
5. Lantern. If you use SoFi’s Lantern service, the following terms apply to you.
6. SoFi App. If you use the SoFi mobile application, the following terms apply
to you.
7. SoFi Community. If you use the Sofi Community features, the following terms
apply to you.
8. Referral Program
9. SoFi Member Rewards Program
GENERAL TERMS
1. Changes to this Agreement. SoFi may change this Terms of Use Agreement from
time to time by posting a current version on the SoFi website without delivering
any notice to you. Please review the current version of this Terms of Use on the
SoFi Site from time to time, because your continued access or use of the SoFi
Site shall be deemed your acceptance of the Terms of Use in place at that time.
2. Additional Product or Account Agreements. To obtain certain SoFi products and
services you might be required to enter into additional agreements with SoFi.
For example, using SoFi Wealth’s investment advisory services requires you to
enter an additional customer agreement. You will be subject to this Terms of Use
Agreement and any other account agreements you enter with SoFi.
3. Risks of using the SoFi Site. Conducting financial transactions through
online services such as SoFi has inherent risks and is susceptible to
interruption. By using the SoFi Site and online services, you agree to the
following and accept the following risks:
• Online information transmission can be disrupted. You accept the risk the SoFi
Site could be affected by technical difficulties that impair your ability to
obtain, view or deliver information or execute transaction, including in time
sensitive transactions such as securities trades or cash management.
• You must confirm any transaction (such as a submission of information or a
trade request) attempted online before relying on it being completed. It is your
responsibility to verify the status of any attempted transaction by reviewing
your accounts or contacting SoFi Customer Support at 1-855-456-7634.
• When you create an account, you agree to use a username with a password that
is complex, secure, and private. You agree to protect your log-in credentials.
You agree to accept the risk of unauthorized access and use of your account if
your credentials are guessed, stolen, intercepted, or if SoFi’s system is
breached or used without proper authorization. If you learn of any unauthorized
use of your password or account, you must contact us immediately (using contact
information on our SoFi Site). SoFi is not responsible for any unauthorized
access to or use of your account.
• SoFi’s obligation is to use reasonable information security measures, and you
acknowledge and agree that SoFi’s systems are not 100% secure against every
possible attack.
4. Privacy. If you use or obtain any SoFi product or service, SoFi will collect
information about you and use it and share it according to SoFi’s Online Privacy
Policy, GLBA Privacy Notice, and SoFi’s Online Privacy Policy for California
Residents (if applicable). Please read SoFi’s Privacy Policy and Privacy Notice
for a full description of how SoFi will collect, use and share information about
you. You may view these documents through the links in this provision or on the
SoFi Site at the Privacy Policy page. This Terms of Use does not limit the
application of the SoFi Privacy Policy or Privacy Notice.
5. Communicating with you. You expressly give permission to SoFi to contact you
according to the following terms:
a. Registration & Accounts. You agree that SoFi may contact you about any matter
relating to your registration with SoFi, your submission of an inquiry for any
SoFi product or service, your application for a product or service, and for any
purpose arising out of or in connection with any account you may obtain from
SoFi. We may contact you for any purpose related to any account you have, such
as payment reminders or suspicious activity.
b. Marketing. You agree that SoFi may contact you to tell you about, and to
offer for sale, products or services we believe will be of interest to you. If
we do so, each communication we send to you will contain instructions permitting
you to “opt out” of receiving future communications.
c. Agents. You agree that SoFi may use agents or representatives to contact you
on our behalf.
d. Phone, SMS, Autodialers. You agree that SoFi may contact you through any
means, including emails, telephone, SMS messages (including text messages),
calls using pre-recorded messages or artificial voice, and calls and messages
delivered using automatic telephone dialing systems (auto-dialer) or an
automatic texting system. Automated messages may be played when the telephone is
answered, whether by you or someone else. SoFi and its agent or representative
may leave messages on your answering machine, voice mail, or send messages via
text.
e. Recorded lines. You agree that SoFi and our agents, representatives,
affiliates or anyone calling on our behalf may contact you on a recorded line.
f. Accurate numbers. You certify telephone numbers that you have provided to us
are your contact numbers, and that you are permitted to receive calls at each of
the telephone numbers you have provided to us. You agree to promptly alert us
whenever you stop using a particular telephone number. We may contact you using
any information you have provided to SoFi or any of its affiliates, at any
telephone number, or any physical, email, or electronic address you provide or
at which you may be reached.
g. Push-Notifications/Alerts. You may select for SoFi to send you messages
called “Alerts” by text or phone. Alerts may be delayed or prevented by
factor(s) affecting your internet/phone provider or other relevant entities.
SoFi is not liable for losses or damages arising from non-delivery, delayed
delivery, or the erroneous delivery of any Alert, or inaccurate Alert content.
You are responsible for your use or reliance on the contents of any Alert for
any purposes. The information in any Alert may be subject to certain delays.
Each Alert may not be encrypted and may include your name and information
pertaining to your account(s). SoFi may terminate your use of Alerts at any time
without notice. You may choose to discontinue receiving Alerts by updating your
SoFi App Notifications preferences.
h. SMS Notifications. All SMS Notifications in electronic format from us to you
will be considered to be in writing.
i. Capability to view messages. In order to access, view, and retain SMS
Notifications that we make available to you, you must have: (i) a SMS-capable
mobile phone, (ii) an active mobile phone account with a communication service
provider; and (iii) sufficient storage capacity on your mobile phone.
j. You are responsible for messaging Costs. SOFI MAY USE ANY MEANS OF
COMMUNICATION DESCRIBED IN THIS SECTION EVEN IF YOU WILL INCUR COSTS TO RECEIVE
SUCH PHONE MESSAGES, TEXT MESSAGES, E-MAILS OR OTHER MEANS. You are responsible
for any and all charges, including but not limited to, fees associated with text
messaging, imposed by your communications service provider. Please consult your
mobile service carrier’s pricing plan to determine the charges for sending and
receiving text messages. These charges will appear on your phone bill. Message
frequency depends on account status or settings. We may modify or terminate our
text messaging services from time to time, for any reason, and without notice,
including the right to terminate text messaging with or without notice, without
liability to you.
6. SoFi SMS Two-Factor Authentication Program
1. This program is for the sending of two-factor authentication short code
messages.
2. You can cancel the SMS service at any time. Just text “STOP” to the short
code. After you send the SMS message “STOP” to us, we will send you an SMS
message to confirm that you have been unsubscribed. After this, you will no
longer receive SMS messages from us. If you want to join again, just sign up as
you did the first time and we will start sending SMS messages to you again.
3. If you are experiencing issues with the messaging program you can reply with
the keyword HELP for more assistance, or you can get help directly at
1-855-456-SOFI (7634).
4. Carriers are not liable for delayed or undelivered messages.
5. As always, message and data rates may apply for any messages sent to you from
us and to us from you. You will receive one message per authentication attempt.
If you have any questions about your text plan or data plan, it is best to
contact your wireless provider.
6. If you have any questions regarding privacy, please read our privacy policy:
https://www.sofi.com/online-privacy-policy/.
7. Loan Inquiries and Submissions. If you submit a loan inquiry or a loan
request to SoFi, you authorize and instruct SoFi to obtain credit information on
you from a credit reporting agency and to use it according to SoFi’s Privacy
Policy, including to use the information to advertise products and services to
you and to target ads to you. Your authorization in this Agreement is in
addition to: (i) terms you accept at the time you submit a loan inquiry, (ii)
terms in any loan application, and (iii) terms in loan documents if you obtain a
loan. You agree you will provide current, complete, and accurate information
about yourself and any co-borrowers or co-signers. If any information you
provide is untrue, inaccurate, not current, or incomplete, SoFi has the right to
terminate your submission and to decline to provide any and all future use of
the SoFi Site. At all times we reserve the right to decline any loan submission
or application for a loan.
8. You are Responsible for Your Financial Decisions. You are responsible for all
financial decisions you make on the SoFi Site or based upon information you
obtain on the SoFi Site. SoFi’s products and services are offered to you upon
the express condition that you will fully evaluate your own financial
circumstances, the terms of the products and services, are fully responsible for
your own financial decisions. Only you can consider your financial situation and
circumstances. You agree to pursue a SoFi product or service only after you have
determined it is right for you.
In the event you would like to obtain financial guidance or advice, you may
enter an advisory relationship with a financial advisor, including SoFi Wealth,
LLC. Unless you have entered into an advisory agreement with SoFi Wealth, you
agree that:
• SoFi has NOT reviewed your financial situation, SoFi does not attempt to
understand your full financial situation, and SoFi will not attempt to select
offers, products, or services that are suitable for you.
• You must make decisions about whether SoFi products are right for you.
• Before making any financial decisions, you should always consider obtaining
information and advice from a certified financial advisor who is aware of your
individual circumstances.
9. SoFi’s Limitation of Liability. You agree that all access and use of the SoFi
Site and your use of SoFi products and services is at your own risk. In no event
shall SoFi (and all related parties) be liable for any damages, including
without limitation direct or indirect, special, incidental, or consequential
damages, losses or expenses arising or in connection with use of the SoFi Site.
In addition, you agree:
• SoFi will not be responsible if you are unable to use the SoFi Site or any
linked site, or in the event of any failure of performance, error, omission,
interruption, defect, delay in operation or transmission, computer virus or line
or system failure, even if SoFi, or representatives thereof, are advised of the
possibility of such damages, losses or expenses.
• SoFi will not be responsible or liable to you in any way if information is
intercepted by an unauthorized person, either in transit or at your place of
business.
• SoFi will have no liability to you for any unauthorized payment or transfer
made using your passcode that occurs before you have notified us of possible
unauthorized use and we have had a reasonable opportunity to act on that notice.
• SoFi may suspend or cancel your passcode even without receiving such notice
from you, if we suspect your passcode is being used in an unauthorized or
fraudulent manner.
• SoFi shall have no liability to you for any losses, financial or otherwise,
suffered by you arising out of or resulting from compatibility or inoperability
problems of the website, your computer device, or your failure to confirm any
attempted transaction.
10. SoFi may suspend your Account and your use of the Site. SoFi reserves the
right to suspend, cancel, or terminate your use of the SoFi Site and any SoFi
product or service if we believe you are using it for a purpose that is
unauthorized, improper, illegal, or that could harm oFi or SoFi’s reputation.
SoFi may determine in our sole discretion the activities that could lead to such
suspension or cancellation. You agree that you will not use any device, software
or routine to interfere or attempt to interfere with the proper working of the
SoFi Site or any transaction being conducted on the SoFi Site.
11. Site Changes. SoFi reserves the right to change or modify or discontinue the
SoFi Site, or any features or functions on the SoFi Site, for any reason, at our
sole discretion, without notice to you.
12. Agreement Duration and Termination. This Terms of Use Agreement will
continue to apply to you and your use of the SoFi Site until your SoFi account
or relationship is terminated as set forth herein. SoFi may, in its sole and
absolute discretion, at any time, for any or no reason, and with or without
prior notice, suspend or terminate your use of the SoFi Site and the rights
afforded to you hereunder. If you fail to comply with any terms and conditions
of this Agreement, then your access to the SoFi Site and any rights afforded to
you may be automatically terminated, without any notice to you or other action
by SoFi.
You agree that SoFi will not be liable to you or any third party for any
termination of your account or access.
If you want to deactivate or delete your SoFi account, please see our FAQs page.
You agree that even if you seek to terminate this Agreement, SoFi may be
obligated by law to retain information about you and certain transactions.
13. Advertisements and Promotions. The SoFi Site may contain promotions for
products and services of third parties, including companies that pay marketing
fees to SoFi. SoFi’s promotion of such third-parties is an introduction for you
to the company and is not an endorsement of their services or products. SoFi
disclaims any liability for any third-party information or products offered.
14. Links to External Sites. External sites with links on SoFi’s Site often have
Terms of Use, Privacy Policies, and security practices that are different from
those of SoFi. It is your responsibility to read and understand those documents
before agreeing to use the external site.
15. Indemnification. You shall indemnify, defend and hold harmless SoFi and its
affiliates, partners, suppliers and licensors, and each of their respective
officers, directors, agents and employees (the “Indemnified Parties”) from and
against any claim, proceeding, loss, damage, fine, penalty, interest and expense
(including, without limitation, fees for attorneys and other professional
advisors) arising out of or in connection with the following: (i) your access to
or use of the SoFi Site or App; (ii) your breach of the License to use the SoFi
Site and App; (iii) your violation of law in connection with this License; (iv)
your negligence or willful misconduct in connection with this License; or (v)
your violation of the rights of a third party, including the infringement by you
of any intellectual property or misappropriation of any proprietary right or
trade secret of any person or entity. These obligations will survive any
termination of this Agreement or the App License.
16. Applicable Law. These Terms of Use and the License shall be governed in all
respects by the substantive laws of the State of California, without regard to
its provisions relating to conflict of laws. You agree to submit to the personal
and exclusive jurisdiction and venue of the state and federal courts located
within San Francisco County, California. The failure of SoFi to exercise or
enforce any right or provision of the Terms of Use shall not constitute a waiver
of such right or provision. If any provision of the Terms of Use or the License
is found by a court of competent jurisdiction to be invalid, the parties
nevertheless agree that the court should endeavor to give effect to the parties’
intentions as reflected in the provision, and the other provisions of the Terms
of Use or the License remain in full force and effect. You agree that regardless
of any statute, regulation, or law to the contrary, any claim or cause of action
you may have arising out of or related to use of the SoFi Site, the SoFi App, or
these Terms of Use must be filed within one (1) year after such claim or cause
of action arose or be forever barred.
17. Compliance with Applicable Law. You agree to abide by all applicable local,
state, national, and international laws and regulations in your use of the SoFi
Site. The SoFi Site is available only to individuals who are permitted to use it
under applicable law. The SoFi Site is made available only for personal,
non-commercial use and display by U.S. residents legally capable of entering
commercial agreements. If you do not qualify, do not use the SoFi Site. You
agree to comply with all applicable laws, rules and regulations regarding the
export of technical data from the U.S. You agree: (i) You are solely responsible
for your actions and the contents of your transmissions through the SoFi Site.
(ii) You will not impersonate any person or entity or falsely state or otherwise
misrepresent your identity or affiliation with a person or entity. (iii) You
possess the legal right and ability to enter into these Terms of Use and the
License and to use the SoFi Site. Unauthorized use of this SoFi Site, including
but not limited to unauthorized entry into SoFi’s systems, misuse of passwords,
or misuse of any information posted on a site, is strictly prohibited.
18. No Warranty. SoFi does not warrant the accuracy, adequacy or completeness of
the information provided on the SoFi Site and expressly disclaims liability for
any errors or omissions in such information. No warranty of any kind, implied,
expressed or statutory including but not limited to the warranties of
non-infringement of third party rights, title, merchantability, fitness for a
particular purpose and freedom from computer virus, is given in conjunction with
the information. Calculators and tools on the SoFi Site provide you with
ESTIMATES that may be different than actual amounts.
19. Copyright. Social Finance, Inc. owns the copyright in all of the information
and material contained on the SoFi Site. The contents of the SoFi Site,
including its “look and feel” (e.g., text, graphics, images, logos, and button
icons), editorial content, notices, software (including html-based computer
programs), and other material are protected under both United States and foreign
copyright, patent, trademark, and other laws. You agree not to reproduce,
duplicate, copy, sell, resell, use or exploit for any commercial purposes, the
SoFi Site, or use of or access to the SoFi Site, or any information or
technology obtained from the SoFi Site, including, but not limited to, SoFi’s
trademarks.
SPECIFIC ADDITIONAL TERMS AND CONDITIONS
This Terms of Use Agreement includes both the General Terms and Conditions above
and additional product specific Terms and Conditions below. If you use any of
the following Services, the terms below apply to you in addition to the General
Terms and Conditions above:
1. Connected Accounts. SoFi offers products and services that allow you to
“connect” or “link” external accounts, such as a bank account, a loan, or a
credit card account held at another institution. You agree to the following
terms and conditions when you connect an account at another institution:
• If you elect to connect or link any such account at another institution, we
refer to it as a “Connected Account.”
• SoFi will obtain your account information. If you elect to connect an external
account to SoFi, SoFi will obtain information from the Connected Accounts. The
specific information SoFi obtains may vary by institution and account type. You
should assume SoFi will obtain from the account any information that is
available to you. For example, if you connect a bank account to SoFi’s Relay
tool (described below), SoFi can collect any information from the account,
including balance and transaction information, such as amount of payments,
debits, and deposits. If you connect a loan account at an external institution,
SoFi can collect loan balance, interest rate on the loan, and your payment
history.
• Use of Connected Information. If you elect to connect an account through any
SoFi service, SoFi may use the information from the connected account for any
purpose permitted by SoFi’s Privacy Policies, including use of the information
to identify products and services that may be of interest to you, sharing
information with affiliated companies to offer products and services to you, and
identifying if you would be likely to be eligible for certain products and
services.
• Use of Plaid Services. To connect an account, SoFi requires you to use a
service offered by Plaid Inc. (“Plaid”). By using this Services, you acknowledge
and agree that Plaid’s Privacy Policy will govern Plaid’s use of information it
collects about you or that you provide to Plaid, and you expressly agree to the
terms and conditions of Plaid’s Privacy Policy. Further, you expressly grant
Plaid the right, power, and authority to access and transmit your information as
reasonably necessary for Plaid to provide the Services to you. To the extent you
previously utilized account linking and aggregation services through SoFi’s
previous service provider, Quovo, Inc., you expressly authorize Quovo, Inc. to
transmit any information or data in connection with those services to Plaid so
that Plaid can offer you its account linking and aggregation Services.
• To obtain information from Connected Account, SoFi Acts as Your Agent. If you
elect to connect an external account to SoFi, SoFi will connect to the account
and obtain information at your direction and as your agent. SoFi does not
warrant that the information obtained from the external account is accurate,
complete, or non-infringing.
2. Relay (Personal financial management tools). If you use SoFi’s Relay service,
the following terms and conditions also apply to you.
SoFi offers personal tools to view, aggregate, and manage your information from
multiple accounts. The information compiled includes accounts held at SoFi and
at external financial institutions, such as a bank account or a loan serviced by
another institution. SoFi offers these tools under the product name brand of
“Relay.” If you elect to connect an external account in Relay, you authorize
SoFi to obtain information from the Connected Account external account and use
it as described above in the section (“Connected Accounts”). SoFi’s Relay tools
are intended to only provide organizational services for your financial
information. The SoFi Relay tools and services are not intended to provide any
financial planning, investment, tax, or retirement planning services or advice.
SoFi does NOT undertake any review of your account information to provide you
with any advice or guidance. SoFi does not make any determination about the
suitability or appropriateness of any transactions you might undertake at SoFi
or elsewhere. If you elect to use Relay, you are fully and solely responsible
for your accounts and agree SoFi’s only role is to aggregate compile data to
information for presentment to you.
3. Credit Score Monitoring. If you use SoFi’s Credit Services Monitoring, the
following terms and conditions also apply to you.
SoFi offers you the opportunity to obtain your credit score from a single credit
reporting agency for the purpose of allowing you to monitor your credit score.
Obtaining the service also enables SoFi to offer you additional tools related to
your credit information. When you elect to use credit score monitoring, you
agree to the following terms and conditions:
• You authorize and instruct SoFi to obtain your full credit reporting
information from a credit reporting agency on a regular recurring basis (e.g.,
weekly) until such time that you terminate the Credit Score Monitoring. Please
see FAQ’s for the process to terminate the service.
• SoFi’s service includes present your credit score and other elements in your
credit report to you. SoFi does NOT undertake any responsibility to monitor your
credit report for activity, identify theft, or any other actions. SoFi’s service
enables YOU to monitor your credit score.
• The credit score obtained by SoFi and presented to you is for your own use and
for your education.
• The credit score is obtained from a single credit reporting agency and may be
different from the credit reporting information used by other institutions or
lenders or creditors.
• If SoFi provides any simulations or hypothetical estimates of credit score
changes, these are for educational purposes only and are not a guarantee of any
outcome.
• SoFi will obtain and keep your credit reporting information and use it for the
purposes permitted in SoFi’s Privacy Notice. SoFi’s uses of you information may
include:
• SoFi may use your credit information to serve targeted advertisements to you
and other communication based on your information.
• SoFi may present offers to you for other SoFi products and services using your
credit information to identify if you are likely to be eligible or interested.
• SoFi may use your credit information for statistical analysis to improve SoFi
products and services.
• You may obtain your own credit report without using SoFi. You have the right
to a free credit report from the website AnnualCreditReport.com or by calling
(877)322-8228.
• SoFi is not a credit reporting agency or a credit repair company. SoFi does
not and will not undertake any credit repair on your behalf. To the extent SoFi
offers you any suggestions regarding improving credit scores or any simulation
of your score based upon assumptions, such information is for your education and
consideration, and is not intended to be financial advice.
4. SoFi At Work. If you reach SoFi through your employer or your employer’s
benefits page, the following terms apply to you.
If you reach SoFi through a link on your employer’s site, these terms apply to
your use of SoFi.
You may be using the SoFi Site because your employer offers links to the SoFi
Site. In order to use the SoFi site, you must agree to and accept this entire
Agreement. If you do not wish to accept SoFi’s Terms of Use Agreement, please
inform your employer to remove you from the list of participating employees
immediately and do not use the SoFi Site.
By making this SoFi site available to you, SoFi is NOT a fiduciary to you and
SoFi is not providing any retirement benefits or any other employment benefits.
In all cases, SoFi is offering you services and products as customers of SoFi.
(a) Employer Contributions. Many employers engage SoFi to assist in the delivery
of an Employer Contribution to their Employees. If you use SoFi to receive your
Employer’s contributions, you agree to the following terms:
1. You are responsible for designating and confirming your contribution amounts
through your employer directly and through the SoFi Site. SoFi is not
responsible for verifying you receive the correct contribution amount.
2. The contribution is made by your employer to you. SoFi’s role is only to
assist in connecting your selected external account to receive the contribution.
3. When you use SoFi to connect an external account, including a student loan
account and any 529/College savings Plan, you agree to the terms set forth above
in Connected Accounts.
4. You must establish and maintain your student loan account and any college
savings plan. SoFi does not establish, support, maintain, or monitor these
accounts in any way. You are required to, and you agree to, regularly check
these accounts to ensure contributions (your contributions and your employer’s
contributions, if any) are correctly received.
5. You must notify SoFi or your employer immediately if you notice or have
reason to believe funds are not delivered correctly to your external accounts.
6. You authorize SoFi to receive information about you from your employer as
necessary in order to facilitate your participation in the employer’s program.
7. If you make contributions to a college savings plan (529 Plans), you agree
that:
• You must establish an account at CBW Bank. You accept and agree to the CBW
Bank Account Holder Agreement.
• You authorize SoFi to deliver instructions to your employer on how to deliver
your contributions to your account at CBW Bank.
• You authorize SoFi to deliver instructions to CBW Bank to disburse your
contribution to the college savings account or external accounts you have
designated.
• You direct CBW Bank to disburse funds to your designated accounts on the
instructions sent by SoFi.
• You have selected your own college savings plan.
(b) Student Loan Payment Information. Certain employers engage SoFi to assist
employees identifying the amount of payments made to a student loan account so
that the employer may use this information in its benefits plan. If your
employer requests that you use SoFi for this purpose, you agree to the following
terms:
• You will be asked to connect your loan account so that SoFi may obtain
information about your payments to share with your employer.
• When you use SoFi to connect an external loan account, you agree to the terms
set forth above in Connected Accounts.
• You give SoFi permission to share with your employer information from the
account including the amounts and timing of your payments to the account.
• If you connect an external account for purposes of sharing student loan
information with your employer, you attest and certify the connected loan is a
qualified student loan account used for educational purposes.
5. Additional Terms for SoFi LANTERN Services
SoFi Lantern. SoFi Lending Corp. or an affiliate offers a loan-related service
called Lantern. Lantern allows users to view loan-related information presented
by lenders, including and in addition to SoFi, and to connect to lenders to
pursue loan products. If you use Lantern pages of the SoFi website, you agree to
the following terms and conditions:
• All Lantern services are provided to you by SoFi Lending Corp. or an
affiliate, a lender licensed as set forth on our Licensing page.
• Lantern offers service for multiple loan types, including but not limited to
personal loans, credit cards, and home loans.
• Important terms related to your submission of a credit inquiry is presented to
you on the pages of the Lantern website and App.
• When you use Lantern, SoFi is not involved in the loan decision and is
operating as a venue for you to connect with lenders.
• If you submit a request or inquiry for Personal Loans, Credit Cards, and
Student Loans, SoFi offers Lantern in cooperation with Even Financial, Inc.
(“Even”). This means SoFi will transmit your information (information you submit
to SoFi) to Even, and Even will further transmit it to participating lenders to
determine if you might be eligible for a loan. You may find a list of Even’s
participating lenders on the Lantern webpages.
• SoFi will be paid a marketing fee from lenders when you either connect with
the lender or obtain a loan product. SoFi’s compensation from the lender may
affect SoFi’s selection of lenders to participate and the presentation of lender
information to you.
• All information you submit and that SoFi may obtain (including credit
information) may be used by SoFi in accordance with the SoFi Privacy Policy and
Privacy Notice.
6. Additional Terms for the use of the SoFi Application for Mobile Devices
License to use the SoFi App. You may download the SoFi App that operates on
certain devices, such as mobile devices, from an “App Store” (such as Apple App
Store or Google Play). All terms, agreements, limitations, and disclosures that
apply to your use of the SoFi Site also apply to your use of the SoFi App. You
are responsible for any data access or wireless or internet charges of your
mobile device service provider. SoFi does not make any representation or
warranty that all aspects of the SoFi site are rendered or operable on the SoFi
App, and we do not warrant that the SoFi App will be compatible with your mobile
device. You agree that your functional use of the SoFi App may be affected by or
dependent on your wireless connection and speed or your wireless service
provider. The functionality of the SoFi App could become disabled during times
of poor connections or speeds from your wireless or internet service provider
while conducting financial transactions. By using the SoFi App, you agree to the
following terms:
a. The SoFi App is licensed, not sold, to you by Social Finance, Inc. for use
strictly in accordance with the Terms of Use. Upon downloading the SoFi App,
SoFi grants you a personal, revocable, non-exclusive, non-transferable limited
license to install and use the SoFi App on your mobile device to access and use
the Services for your personal, non-commercial use and display strictly in
accordance with this license, your Account Agreements, these Terms of Use and
any applicable Usage Rules (the “License”).
b. You agree that you will not (i) decompile, reverse engineer, disassemble,
attempt to derive the source code of, or decrypt the SoFi App; (ii) make any
modification, adaptation, improvement, enhancement, translation, copy or
derivative work from the SoFi App; (iii) violate any applicable laws, rules or
regulations in connection with your access or use of the SoFi App; (iv) remove,
alter or obscure any proprietary notice (including any notice of copyright or
trademark) of SoFi or its affiliates, partners, suppliers or the licensors of
the SoFi App; or (iv) create, design, engineer or use any “bot” or other
technology in connection with the SoFi App.
c. You acknowledge and agree that the SoFi App and all copyrights, patents,
trademarks, trade secrets and other intellectual property rights associated
therewith are owned by SoFi or its affiliates, agents or licensors, as
applicable. All rights, title and interest in and to the SoFi App are reserved
by SoFi and its affiliates, agents or licensors, as applicable. All trademarks
(including logos, service marks, trade names and icons), copyrights, patents,
trade secrets, content, publicity rights and other intellectual property
(collectively, the “Intellectual Property”) are proprietary to SoFi, its
affiliates, agents or licensors. You may not remove any proprietary notices,
including, but not limited to, copyright and trademark notices, from the SoFi
App or alter, obscure or modify such notices in any way. Except as expressly
stated in this license, you are not granted any intellectual property rights in
or to the SoFi App by implication, estoppel or other legal theory, and all
rights in and to the Application not expressly granted in this License are
hereby reserved and retained by SoFi.
d. You acknowledge and agree that, in the event of a third-party claim that the
application infringes any third party’s intellectual property rights caused by
or arising out of your use of the SoFi App, you (and not SoFi or any third-party
mobile device service provider or app venue) shall be solely responsible for the
investigation, defense, settlement and discharge of any intellectual property
infringement claim or suit, any third-party claims or any other harm or damages
caused by, arising out of or resulting from your use of or access to the SoFi
App. You hereby release SoFi and its employees, officers, directors, affiliates,
agents and licensors from any and all liability caused by, arising out of or
resulting from your use of the SoFi App or the services, including from product
liability claims or any claim that the SoFi App fails to conform to any legal or
regulatory requirement. You will, however, promptly notify SoFi in writing of
any such claim.
e. If you believe that material on our SoFi App violates your copyright, please
notify us at info@sofi.org. SoFi will respond to all copyright infringement
notices that it receives and respond appropriately by removing infringing
material if necessary. If a member repeatedly infringes upon copyrights, his or
her account may be subject to termination at SoFi’s discretion.
f. You may not rent, lease, lend, sublicense or transfer the Application, this
License or any of the rights granted hereunder. Any attempted transfer in
contravention of this provision shall be null and void and of no force or
effect.
g. Export Control. You may not use or otherwise export or re-export the mobile
Application except as authorized by United States law and the laws of the
jurisdiction(s) in which the Application was obtained. You represent and warrant
that you are not: (i) located in any country that is subject to a U.S.
Government embargo, or that has been designated by the U.S. Government as a
“terrorist supporting” country, or (ii) listed on any U.S. Government list of
prohibited or restricted parties including the Treasury Department’s list of
Specially Designated Nationals or the U.S. Department of Commerce Denied
Person’s List or Entity List. You also agree that you will not use the
Application for any purposes prohibited by United States law.
7. Terms applicable if you participate in the SoFi Community
SoFi may offer you the opportunity to share information about your SoFi
experience or to create a SoFi Community profile. If SoFi does offer such
functions, it will be subject to these specific SoFi Community terms in addition
to all other Terms of Use contained herein.
Through your SoFi Community profile, you may have the option to link your
profile to other social media accounts. If you choose to do so, SoFi will
collect information from your other social media account. More information about
the type of information we collect from you and how SoFi uses it is available in
the SoFi Privacy Policies. When you create a SoFi Community profile with us, you
must provide us information that is accurate, complete, and current at all
times. Failure to do so constitutes a breach of these Terms of Use, which may
result in immediate termination of your SoFi Community profile.
If you elect to create a SoFi Community profile, information that is obtained
from your SoFi account and information that you provide SoFi will be on your
SoFi Community profile, and it will be possible for other persons, including
SoFi Community members to see your profile. SoFi may terminate or suspend your
SoFi Community profile immediately, without prior notice or liability, for any
reason whatsoever. Upon termination, your right to use SoFi Community will
immediately cease.
By sharing information or content on the SoFi Site, you expressly agree to all
of the following:
• You grant SoFi a non-exclusive, transferable, sub-licensable, royalty-free,
worldwide license to use any information or content that you post on or in
connection with your use of the SoFi Site, subject to the provisions of SoFi’s
Privacy Policies.
• You understand that deleted content or information may continue to exist on
our servers or in backup copies that we maintain for our own use.
• You will not post content or take any action on the SoFi Site that may
constitute libel or slander, infringes or violates someone else’s rights, that
is protected by any copyright or trademark, or otherwise violates the law.
• Content and information that you share will be available to other users of our
SoFi Site. You understand that such third parties may access, use, store and
transfer such content and information and to associate it with you.
• You agree that you will not use any posting of information on the SoFi Site
for commercial purposes.
• We may remove any content or information that you share on the SoFi Site for
any reason.
• You agree that you will not use any device, software or routine to interfere
or attempt to interfere with the proper working of the SoFi Site, or any
transaction being conducted on our SoFi Site.
• Any content you post may be viewed by any other member of SoFi Community.
Content that you post must comply with all applicable regulations and laws.
• SoFi reserves the right to access your profile and content if required to do
so in order to cooperate with any legal process, to enforce this Terms of Use
Agreement, to respond to complaints from third parties related to content you
have posted, or to protect the reputation, property, and personal safety of SoFi
or any other person or entity.
• By posting content on SoFi Community, you grant to SoFi a non-exclusive,
transferable, sub-licensable, fully paid-up, worldwide right and license to use
your content in any way. You are also prohibited from providing false
information on SoFi Community. If you find that there is information on your
profile that is no longer accurate, it is your responsibility to edit it or
alert SoFi.
• SoFi may in its discretion remove any content that it deems inappropriate
Under no circumstances will SoFi be held liable for any losses or damages
whatsoever, including direct, indirect, general, special, compensatory,
consequential and/or incidental damages, as a result of conduct from you or any
other member. You are solely responsible for your interactions with other
members.
YOU UNDERSTAND THAT SOFI CURRENTLY DOES NOT CONDUCT CRIMINAL BACKGROUND CHECKS
OR SCREENINGS ON SOFI COMMUNITY MEMBERS. SOFI ALSO DOES NOT INQUIRE INTO THE
BACKGROUNDS OF ANY SOFI COMMUNITY MEMBERS OR ATTEMPT TO VERIFY THE STATEMENTS OF
SOFI COMMUNITY MEMBERS. SOFI MAKES NO REPRESENTATIONS OR WARRANTIES AS TO THE
CONDUCT OF SOFI COMMUNITY MEMBERS OR THEIR COMPATIBILITY WITH ANY CURRENT OR
FUTURE SOFI COMMUNITY MEMBERS. SOFI RESERVES THE RIGHT TO CONDUCT ANY CRIMINAL
BACKGROUND CHECK OR OTHER SCREENINGS (SUCH AS SEX OFFENDER REGISTER SEARCHES),
AT ANY TIME AND USING AVAILABLE PUBLIC RECORDS.
8. SoFi’s Referral Program
The following describes the terms of service which apply to participation in the
referral or account opening promotional programs (collectively, the “Referral
Programs”) currently offered by Social Finance, Inc. (“SoFi”) and its
affiliates. If you wish to participate in any Referral Program described below,
you agree to the terms for such Referral Program described in Part I below, as
well as the General Terms and Conditions in Part II, which apply to all Referral
Programs.
Please note that:
— Any friend whom you’d like to refer must use your specific product referral
link to sign up for the product they want.
— You have separate referral links for (1) Personal Loans and Student Loans, (2)
SoFi App, and (3) Invest products.
— Only one referral reward and one welcome bonus per new customer. You will not
receive multiple referral bonuses for the same friend taking out multiple loans
or products, nor will your friend receive multiple welcome bonuses for taking
out multiple loans or products. — SoFi mortgages are never eligible for the SoFi
Referral Program.
Additional terms and conditions apply.
Each person referred should be someone you have a direct, personal relationship
with. You may not distribute a Referral Link or otherwise solicit anyone through
mass email, any form of commercial advertising or other similar means.
SoFi reserves the right to review, investigate, and disqualify anyone from
participation in the SoFi Referral Program at any time, and reserves the right
to not honor any referral which in our sole discretion was solicited in a manner
inconsistent with the spirit or terms and conditions of the SoFi Referral
Program.
Furthermore, SoFi Securities reserves the right to seek reimbursement from any
customer (including by deduction from their Invest Account) of amounts paid as
Referral Bonuses to customers solicited via mass solicitation. Please note that
in certain circumstances the deduction of such amounts from their account may
result in a negative balance.
Any person referred to a SoFi loan, SoFi Money account, or SoFi Credit Card may
not have an existing registered SoFi account. A person referred to a SoFi Invest
account or SoFi Digital Assets account (for crypto) may have an existing SoFi
registered account.
If account funding is required to meet referral bonus payout eligibility, P2P
transfers or proceeds of a reward, promotion or similar program are not eligible
methods of funding.
To protect the privacy of those you refer, referral prospect account information
or eligibility is not, under any circumstances, permitted to be shared with
referral promoters.
A successful referral is defined as: is new to SoFi, uses your personal and
unique “Share the app” referral link to download the SoFi app and register for
SoFi.com for the first time and within 24 hours of first clicking on your link.
Persons referred must open an eligible SoFi account within 90 days of
registering for SoFi for respective bonuses to post. Eligible accounts include
SoFi Checking and Savings, the SoFi Credit Card, SoFi Active Investing
(excluding non-taxable accounts) or crypto account, Credit Score Monitoring,
SoFi Student Refinance Loan, SoFi Private Student Loan, or a SoFi Personal loan.
No payouts will be made for the opening of any type of SoFi account not listed
above. Further, no payout will be made to the referrer or the referee for (1)
the referee taking out a SoFi Private Student Loan if the referrer is employed
by a qualified educational institution or (2) if either the referee or the
referrer resides in Vermont and the product the referrer takes out is a SoFi
Loan described above.
REFERRAL PROGRAM — PART I
Loan Referral Program
The terms below and those set forth in Part II govern your participation in SoFi
Lending Corp’s (“SLC”) Loan Referral Program (the “Loan Referral Program”)
described below. The Loan Referral Program is open to any consumer who registers
on SoFi’s website and who resides outside of the state of Vermont (the “Eligible
Loan Referrer(s)”).
Eligible Loan Referrers are limited to refer friends, colleagues, family
members, and other people they (collectively, the “Eligible Loan Recipient(s)”)
believe may be interested in applying for a Student Loan Refinancing Loan,
Medical Resident Refinancing Loan, Dental Resident Refinancing Loan, Parent PLUS
Refinancing Loan, or Personal Loan (collectively, the “Eligible Loan(s)”). SLC
reserves the right to disqualify anyone from participating in the Loan Referral
Program at any time. The Eligible Loan Referrers will NOT receive a Loan
Referral Bonus for referrals for any other SLC loan products. Anyone who
violates these terms and conditions is ineligible for payment of any bonus.
To receive credit for a referral under the Loan Referral Program, Eligible Loan
Referrers must send their unique referral link to an Eligible Loan Recipient,
the Eligible Loan Recipient must use their Eligible Loan Referrer’s unique
referral link within 120 days after receipt of the Eligible Loan Referrer’s
unique referral link, and the Eligible Loan Recipient must meet the terms and
conditions of the specific promotional campaign associated with the unique
referral link that was used for the referral. If the Eligible Loan Recipient
uses the Eligible Loan Referrer’s unique referral link to apply for an Eligible
Loan which is approved and funds (a “Funded Eligible Loan”), SLC or its designee
shall pay to: (a) the Eligible Loan Referrer, a one-time referral bonus for such
Funded Eligible Loan in the amount specified in the promotional campaign
associated with the unique referral link that was used for the referral (the
“Loan Referral Bonus”); and (b) the Eligible Loan Recipient, a one-time welcome
bonus for such Funded Eligible Loan in the amount specified in the promotional
campaign associated with the unique referral link that was used for the referral
(the “Loan Welcome Bonus”). Only one Loan Referral Bonus and one Loan Welcome
Bonus will be awarded for each referred Eligible Loan Recipient, regardless of
whether the Eligible Loan Recipient takes out multiple Eligible Loans. No Loan
Welcome Bonuses will be paid out to Eligible Loan Recipients who reside in the
state of Ohio at the time their loan is funded. Further, and notwithstanding the
above, the following additional restrictions shall apply (1) Loan Referral
Bonuses for Funded Eligible Loans to Michigan residents will be capped at $500
per loan, (2) no Loan Referral Bonus will be paid to otherwise Eligible Loan
Referrers who are residents of Vermont, and (3) no Loan Referral Bonus will be
paid for otherwise Funded Eligible Loans made to Vermont residents. An Eligible
Loan Referrer will not earn a Loan Referral Bonus if the Eligible Loan Recipient
has or had an existing funded SoFi loan account, or if the Eligible Loan
Recipient does not use the unique referral link provided by the Eligible Loan
Referrer.
If the Eligible Loan Recipient already has a SoFi loan account, is on our
opt-out list or the national email opt-out list, or has already used another
Eligible Loan Referrer’s unique referral link, the Eligible Loan Recipient may
not be sent an email. We cannot disclose to you any information about Funded
Eligible Loans opened by any Eligible Loan Recipients you refer to us.
Participation in the Loan Referral Program serves as a one-time limited waiver
of privacy rights by both parties, whereby each may become aware of the presence
of an account relationship with SLC.
Invest Referral Program
The terms below and those set forth in Part II govern your participation in the
SoFi Invest Referral Program (the “Invest Referral Program”). The Invest
Referral Program is open to all current SoFi Active Invest account holders who
meet the criteria below, and wish to refer someone to open a SoFi Invest account
offered by SoFi Securities LLC. A referrer must have a SoFi Invest account
offered by SoFi Securities LLC (either an Automated Invest account or an Active
Invest account) which is funded and in good standing (i.e., not suspended) (an
“Eligible Invest Referrer(s)”).
The Eligible Invest Referrers are encouraged to refer friends, colleagues,
family members, and anyone else they believe may be interested in opening a SoFi
Active Invest account (the “Eligible Invest Recipient(s)”). The Eligible Invest
Referrers will NOT receive an Invest Referral Bonus for referrals for a SoFi
Automated Invest account. SoFi Securities LLC, or its designee (collectively,
“SoFi Securities”) reserve the right to disqualify anyone from participation in
the Invest Referral Program at any time.
To receive credit for a referral made under the Invest Referral Program, an
Eligible Invest Referrer must access their own unique referral link and send it
to the Eligible Invest Recipient(s) whom they wish to refer to open a new SoFi
Active Invest Account (an “New Active Invest Account”). The Eligible Invest
Recipient must use the Eligible Invest Referrer’s unique referral link to open a
New Active Invest Account within 120 days after receipt of the Eligible Invest
Referrer’s unique referral link, and meet the terms and conditions of the
specific promotional campaign associated with the unique referral link that was
used for the referral.
For each Eligible Invest Recipient who opens and funds a New Active Invest
Account within 120 days after receipt of the Eligible Invest Referrer’s unique
referral link, and meets the terms and conditions of the specific promotional
campaign associated with the unique referral link that was used for the
referral, SoFi Securities will: (a) credit an Invest account of the Eligible
Invest Referrer with a one-time cash referral bonus in the amount specified in
the promotional campaign associated with the unique referral link that was used
for the referral (the “Invest Referral Bonus”); and (b) credit the New Active
Invest Account of the Eligible Invest Recipient, with a one-time welcome bonus
in the amount specified in the promotional campaign associated with the unique
referral link that was used for the referral (the “Invest Welcome Bonus”). Only
one Invest Referral Bonus and one Invest Welcome Bonus will be awarded for each
referred Eligible Invest Recipient, regardless of whether the Eligible Invest
Recipient opens and funds multiple accounts. An Eligible Invest Referrer will
not earn an Invest Referral Bonus if the Eligible Invest Recipient has or had an
existing funded SoFi Invest account or does not use the unique referral link
provided by the Eligible Invest Referrer.
Please note that if the Eligible Invest Recipient already has an Invest account,
is on our opt-out list or on the national email opt-out list, or has already
used another Eligible Invest Referrer’s unique referral link, SoFi Securities
will not send an email to such Eligible Invest Recipient. We cannot disclose to
you any information about New Active Invest Accounts opened by any Eligible
Invest Recipients you refer to us. Participation in the Invest Referral Program
serves as a one-time, limited waiver of privacy rights by both you and the
Eligible Invest Recipient, pursuant to which each may become aware that the
other has an account relationship with SoFi Securities.
Money Referral Program
The terms below and those set forth in Part II govern your participation in the
SoFi Securities LLC (“SoFi Securities”) Money Referral Program (the “Money
Referral Program”). The Money Referral Program is open to all current SoFi Money
account holders who meet the criteria below, and who wish to refer someone to
open a SoFi Money account. A referrer must be a SoFi Money customer with a Money
account which is in good standing (i.e. not suspended) (an “Eligible Money
Referrer(s)”).
The Eligible Money Referrers are encouraged to refer their contacts and people
in their networks whom they believe may be interested in opening a SoFi Money
account (the “Eligible Money Recipient(s)”). SoFi Securities reserves the right
to disqualify anyone from participation in the Money Referral Program at any
time. Anyone who violates these terms and conditions is ineligible for payment
of any bonus.
To receive credit for a referral made under the Money Referral Program, an
Eligible Money Referrer must access their own unique referral link and send it
to the Eligible Money Recipient(s), whom they wish to refer to open a new SoFi
Money account (a “New Money Account”). The Eligible Money Recipient must use the
Eligible Money Referrer’s unique referral link to open the New Money Account
within 14 days after receipt of the Eligible Invest Referrer’s unique referral
link, and meet the terms and conditions of the specific promotional campaign
associated with the unique referral link that was used for the referral.
For each Eligible Money Recipient who opens and funds a New Money Account within
14 days after receipt of the Eligible Invest Referrer’s unique referral link,
and meets the terms and conditions of the specific promotional campaign
associated with the unique referral link that was used for the referral, SoFi
Securities or its designee will: (a) credit the Money account of the Eligible
Money Referrer, with a one-time referral bonus in the amount specified in the
promotional campaign associated with the unique referral link that was used for
the referral (the “Money Referral Bonus”); and (b) credit the New Money Account
of the Eligible Money Recipient, with a one-time welcome bonus in the amount
specified in the promotional campaign associated with the unique referral link
that was used for the referral (the “Money Welcome Bonus”). Only one Money
Referral Bonus and one Money Welcome Bonus will be awarded for each referred
Eligible Money Recipient, regardless of whether the Eligible Money Recipient
opens and funds multiple accounts. An Eligible Money Referrer will not earn a
Money Referral Bonus if the Eligible Money Recipient has or had an existing
funded SoFi Money account, or does not use the unique referral link provided by
the Eligible Money Referrer.
If the Eligible Money Recipient already has a Money account, is on our opt-out
list or the national email opt-out list, or has already received and used
another Eligible Money Referrer’s unique referral link, SoFi Securities will not
send an email to the Eligible Money Recipient. We cannot disclose to you any
information about New Money Account opened by any Eligible Money Recipient you
refer to us. Participation in the Money Referral Program serves as a one-time,
limited waiver of privacy rights by both you and the Eligible Money Recipient,
pursuant to which each may become aware that the other has an account
relationship with SoFi Securities.
Bank Referral Program
The terms below and those set forth in Part II govern your participation in the
SoFi Bank, National Association (“SoFi Bank”) Checking and Savings Referral
Program (the “Bank Referral Program”). The Bank Referral Program is open to all
current Checking and Savings account holders who meet the criteria below, and
who wish to refer someone to open a Checking or Savings account. A referrer must
be a SoFi Bank customer with a Checking or Savings account which is in good
standing (i.e. not suspended) (an “Eligible Bank Referrer(s)”).
The Eligible Bank Referrers are encouraged to refer their contacts and people in
their networks whom they believe may be interested in opening a Checking or
Savings account (the “Eligible Bank Recipient(s)”). SoFi Bank reserves the right
to disqualify anyone from participation in the Bank Referral Program at any
time. Anyone who violates these terms and conditions is ineligible for payment
of any bonus.
To receive credit for a referral made under the Bank Referral Program, an
Eligible Bank Referrer must access their own unique referral link and send it to
the Eligible Bank Recipient(s), whom they wish to refer to open a new Checking
or Savings account (a “New Checking or Savings Account”). The Eligible Bank
Recipient must use the Eligible Bank Referrer’s unique referral link to open the
New Checking or Savings Account within 14 days after receipt of the Eligible
Bank Referrer’s unique referral link, and meet the terms and conditions of the
specific promotional campaign associated with the unique referral link that was
used for the referral.
For each Eligible Bank Recipient who opens and funds a New Checking or Savings
Account within 14 days after receipt of the Eligible Bank Referrer’s unique
referral link, and meets the terms and conditions of the specific promotional
campaign associated with the unique referral link that was used for the
referral, SoFi Bank or its designee will: (a) credit the Checking or Savings
account of the Eligible Bank Referrer, with a one-time referral bonus in the
amount specified in the promotional campaign associated with the unique referral
link that was used for the referral (the “Bank Referral Bonus”); and (b) credit
the New Checking or Savings Account of the Eligible Bank Recipient, with a
one-time welcome bonus in the amount specified in the promotional campaign
associated with the unique referral link that was used for the referral (the
“Bank Welcome Bonus”). Only one Bank Referral Bonus and one Bank Welcome Bonus
will be awarded for each referred Eligible Bank Recipient, regardless of whether
the Eligible Bank Recipient opens and funds multiple accounts. An Eligible Bank
Referrer will not earn a Bank Referral Bonus if the Eligible Bank Recipient has
or had an existing funded SoFi Checking or Savings account, or does not use the
unique referral link provided by the Eligible Bank Referrer.
If the Eligible Bank Recipient already has a Checking or Savings account, is on
our opt-out list or the national email opt-out list, or has already received and
used another Eligible Bank Referrer’s unique referral link, SoFi Bank will not
send an email to the Eligible Bank Recipient. We cannot disclose to you any
information about New Checking or Savings Accounts opened by any Eligible Bank
Recipient you refer to us. Participation in the Bank Referral Program serves as
a one-time, limited waiver of privacy rights by both you and the Eligible Bank
Recipient, pursuant to which each may become aware that the other has an account
relationship with SoFi Securities.
App Referral Program
A successful referral is defined as: is new to SoFi, uses your personal and
unique “Share the app” to download the SoFi app and register for SoFi.com for
the first time. Each referrer is limited to five (5) bonus payouts for
successful “Share the app” referrals. After you’ve received bonus payouts for
five (5) successful “Share the app” referrals, your personal and unique “Share
the app” promoter link will continue working, but you will not receive further
bonus payouts. Referral capping is subject to change at any time without notice.
REFERRAL PROGRAM GENERAL TERMS AND CONDITIONS — PART II
Referral Cap
In no event will any person be entitled to receive more than $10,000 in
cumulative referrals or welcome bonuses under these Referral Programs within any
calendar year. In addition, SoFi reserves the right to, at any time, limit the
maximum number of times a Referral Link can be used. Referral Bonuses and
Welcome Bonuses are each considered miscellaneous income and may be reportable
to the IRS on Form 1099-MISC (or Form 1042-S, if applicable).
Non-Solicitation Agreement
If you participate in any of the Invest Referral Program, Money Referral
Program, or the Loan Referral Program described above (collectively, the
“Referral Program(s)”), you agree not to participate in any other solicitations
for SoFi products. Other than as set forth herein, you agree not to compensate
or accept any compensation from applicants whom you refer to SoFi through any of
the corresponding Referral Programs described above. You further agree that your
activities will be limited to referring potential customers as described above,
so they may independently decide whether to apply. You may not collect
information from eligible recipients under any Referral Program, assist with
filling out an application, or discuss specific product terms.
No Spam
You must comply with all applicable laws and regulations, in soliciting
referrals. Eligible referrers may not purchase internet search terms or publicly
advertise SoFi’s products or name in any fashion. Further, any distribution of a
program link that could constitute unsolicited commercial email or “spam,” any
content which impersonates or implies an affiliation with or endorsement by SoFi
or any SoFi subsidiary, or any actions which otherwise violate any terms or
conditions imposed by SoFi, are prohibited and will be grounds for immediate
termination from a Referral Program. We will not honor referral payments for
referrals which are generated using any of the foregoing means.
Independent Contractor
Your participation in a Referral Program is solely as an independent contractor.
Neither you nor SoFi intend to establish an employment relationship, and you are
not entitled to any benefits. If the cumulative welcome or referral bonuses paid
to an individual in one calendar year exceed $599 USD, then we may require
completion of a Form W-9 prior to fund disbursement. Any payments that are not
claimed within 180 days of the date the funds have been made available because
either the direct deposit bank account or required tax information have not been
provided are subject to forfeit.
Conflict
In the event any of the terms of these Terms of Service conflicts with any terms
in a specific promotional campaign associated with a unique referral link, the
terms of these Terms of Service shall govern.
Discontinuation of Previous Referral Program
The Referral Programs described herein replace all earlier versions of such SoFi
referral programs. SoFi reserves the right to temporarily, or permanently modify
or discontinue the Referral Programs at any time, for any reason, at our sole
discretion and without notice to you.
9. SoFi Member Rewards Program
Social Finance, Inc., and its affiliates (“SoFi”) operate the SoFi Member
Rewards program (the “Program”), through which consumers who choose to join the
Program (“Members”, “you”, or “your”) and accept these terms ( the “Program
Terms”) can earn and redeem points as described below. By clicking the “Join for
Free” button on the Program enrollment screen you agree that your participation
in the Program will be governed by these Program Terms and SoFi’s Terms of Use
www.sofi.com/terms-of-use (the “Terms of Use”) applicable to www.sofi.com (the
“Website”).
There is no cost to you to participate in the Program.
Program Eligibility
This SoFi Member Rewards Program (the ‘Program”) is open to all current Members,
who are in good standing with any loan, account or other product they may have
with SoFi, and who have registered on SoFi’s website (www.sofi.com) and agreed
to these Program Terms. Any information you provide to SoFi or its affiliates in
connection with this Program is subject to SoFi’s Privacy Policy
(https://www.sofi.com/b/policy/privacy). We may send you communications about
this program to any mailing address, email address, or telephone number in our
records or that you have provided to us.
Points Earned
The SoFi Member Rewards Program allows you to earn points from activities such
as:
• Spending on your SoFi Credit Card (for more details on Credit Card points, see
the How SoFi Credit Card Rewards Works page (www.sofi.com/card/rewards)
• Logging into the SoFi mobile app
• Linking your non-SoFi accounts to SoFi Relay
• Signing up for SoFi Relay Credit Score Monitoring
• Using direct deposit with your SoFi Checking, SoFi Savings, or SoFi Money
account
• Activating your SoFi Debit Mastercard
• Recurring direct deposits into your SoFi Checking, SoFi Savings, or SoFi Money
account
• Setting up Billpay from your SoFi Money or SoFi Checking account
The ways to earn points are subject to change at any time. To see the latest
ways to earn points, and respective points values per activity, visit the “How
to earn points2” page () within the SoFi app. The terms of the specific
promotional offers listed on your “How to earn points” page will govern the
number of points you will earn in association with those promotional offers and
may differ from the terms for other customers. Some state restrictions may
apply.
You may see the total balance of your earned, unredeemed points by visiting your
“SoFi Points dashboard1” page within the SoFi app.
No points may be earned for spending or other activities which occur prior to
your acceptance of these Program Terms. Further, Members must obtain a product
for which points can be redeemed into within 180 days of earning any points. If
after 180 days of earning points under this Program a Member does not have a
product for which points can be redeemed into, such points will expire and be
forfeited. SoFi reserves the right to modify or discontinue any promotional
offers for points earnings at any time, and with or without notice to you.
Points aren’t your property and have no cash value. You can’t transfer or move
points unless expressly provided for in this agreement. Additionally, points
can’t be transferred by operation of law, such as by inheritance, in bankruptcy
or in connection with a divorce.
Redemption Process
Rewards points may be redeemed towards active SoFi accounts, such as a statement
credit applied towards your SoFi Credit Card, cash deposited into SoFi Money,
SoFi Checking, or SoFi Savings, extra payments applied towards your SoFi Student
Loan Refinance, SoFi Private Student Loan, or SoFi Personal Loan outstanding
balance, fractional shares purchased in your SoFi Active Invest account, or for
cryptocurrency purchased in your SoFi Crypto account.
The ways to redeem points are subject to change at any time. To see the latest
ways to redeem your points, including any promotional offer details of
redemption, visit the “Redemption options3” page within the SoFi app. As a
participant in the Program, you are eligible to redeem points in accordance with
the terms of any current promotional offer listed on the “Redemption options3”
page.
Rewards points may be redeemed on a one-time basis or on a monthly basis when
set up through auto-redemption. To set up and manage your auto-redemption
preferences, visit your “SoFi Points dashboard1” page.
Please note that the terms of any promotional offer listed on the “Redemption
options3” page may contain separate eligibility requirements or conditions to
receive that promotional offer. The terms of the specific promotional offers
listed on your “Redemption options3” page will govern your ability to redeem
points for those promotional offers and may differ from the terms for other
customers. To the extent these Program Terms conflict with any of the separate
terms for a promotional offer, the Program Terms shall govern how points are
earned and the specific promotional terms will govern how points are redeemed
for the offer.
SoFi reserves the right to modify or discontinue any promotional offers for
points redemptions at any time, and with or without notice to you. Points
redemptions may be conditional upon you being a SoFi customer with at least one
active SoFi product.
Points Restriction
SoFi in its sole discretion may prohibit or limit your ability to use, earn,
keep or redeem points, in whole or in part, and at any time, if you are a SoFi
Member in “bad standing”. For clarity, a Member in “bad standing” includes but
is not limited to the following: if you are delinquent or have defaulted on a
SoFi loan product; if you have a negative balance in your SoFi Money, SoFi
Checking, or SoFi Savings or any of your SoFi Invest Accounts; if we believe you
have violated any applicable law in connection with this Program; or if we
believe you have committed any fraudulent acts in connection with this Program.
Additional terms
Your participation in this Program may result in the receipt of taxable income
from SoFi and we may be required to send you, and file with the IRS, a Form
1099. You are responsible for any tax liability, including disclosure
requirements, related to your participation in the Program.
We are not responsible for any dispute you may have in connection with this
Program with an authorized user or joint account holder on any of your accounts.
Changes to the SoFi Rewards Program
SoFi may modify or update these Program Terms at any time, and each such
modification will be effective upon either posting at the Website or notice to
you. Your continued participation in this Program following any such
modifications constitutes your acceptance of such modifications and your
agreement to be bound by these Program Terms and the Terms of Use. If you do not
agree to any modification of these Program Terms or the Terms of Use, as the
case may be, your sole remedy is to discontinue your participation in the
Program. It is important that you review these Program Terms regularly. SoFi in
its sole discretion may terminate this Program, or prohibit or limit your
ability to use, earn or redeem points, in whole or in part, at any time with or
without notice to you. The Program described herein shall replace all earlier
versions of this Program.
INDEMNIFICATION
You shall defend, indemnify, and hold harmless Social Finance, Inc., its
affiliates, and each of its and its affiliates’ respective employees,
contractors, directors, suppliers, and representatives from all damages, losses,
costs and expenses of whatever kind, including attorneys’ fees and any sums paid
under any settlement incurred or suffered as a result of any claim, demand,
action, or suit by any third party, whenever and wherever filed, arising out of
or relating to (i) your violation of any of these Program Terms, (ii) any fraud
or misuse associated with your participation in this Program, (iii) your
violation of any applicable law, and (iv) any dispute you may have in connection
with this Program with an authorized user or joint account holder on one of your
accounts. SoFi reserves the right to assume the exclusive defense and control of
any matter otherwise subject to indemnification by you, in which event you will
assist and cooperate with SoFi in asserting any available defenses.
1,2,3ACCESS INSTRUCTIONS
1. “SoFi Points dashboard” page: Click the with #points on the Home tab in the
SoFi App
2. “How to earn points” page: From the SoFi Points dashboard > Click the “Earn”
button
3. “Redemption options” page: From the SoFi Points dashboard > Click the “See
all the ways to redeem your points” link
LIMITATION OF LIABILITY
IN NO EVENT SHALL SOFI, NOR ITS DIRECTORS, EMPLOYEES, AFFILIATES, AGENTS,
PARTNERS, OR SUPPLIERS, BE LIABLE TO YOU FOR ANY DIRECT, INDIRECT, INCIDENTAL,
SPECIAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES WHATSOEVER, INCLUDING ANY LOSS OF
INCOME, PROFITS, BUSINESS OR OPPORTUNITY, RESULTING FROM YOUR PARTICIPATION IN
THIS PROGRAM. THESE LIMITATIONS OF LIABILITY APPLY WHETHER THE CLAIM AGAINST ANY
SUCH PERSONS OR ENTITIES IS BASED ON WARRANTY, CONTRACT, TORT, THE LAW OF
PROPERTY, OR ANY OTHER LEGAL GROUNDS OR THEORY, AND WHETHER OR NOT SUCH DAMAGES
ARE OR WERE FORESEEABLE OR FORESEEN BY ANY SUCH PERSONS OR ENTITIES. THIS
LIMITATION OF LIABILITY SHALL APPLY TO THE FULLEST EXTENT PERMITTED BY LAW IN
THE APPLICABLE JURISDICTION.
--------------------------------------------------------------------------------
Please direct all questions or comments about these Terms of Use to
info@sofi.org
COPYRIGHT © Social Finance, Inc. ALL RIGHTS RESERVED.
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