SoFi Terms of Use

Sharing & Disclosure · Company practice

Promotions for other companies may earn SoFi marketing fees and are not endorsements

The SoFi Site may contain promotions for products and services of other companies. In many cases those companies pay marketing fees to SoFi. SoFi says its promotion of another company's products is an introduction for you and not an endorsement, and SoFi disclaims any liability for products offered by any other company.

Supporting quotations

The SoFi Site may contain promotions for products and services of other companies. In many cases these companies pay marketing fees to SoFi.

SoFi’s promotions of other companies’ products is an introduction for you and is not an endorsement of any other company’s services or products. SoFi disclaims any liability for any products offered by any other company.

Qualifications & exceptions

• The marketing fees are stated to be paid "in many cases", not in all.

Sharing & Disclosure · Permission or license

Connecting an account uses Plaid or another aggregator, which you authorize to access and transmit your information

The Agreement contains two nearly parallel provisions. One says that to connect an account SoFi requires you to use a service offered by Plaid Inc. The other says SoFi may require a data aggregator, such as Plaid. In both, you acknowledge that the provider's privacy policy governs its use of information it collects about you or that you provide to it (the first adds that you expressly agree to the terms of Plaid's Privacy Policy), and you expressly grant it the right, power and authority to access and transmit your information as reasonably necessary to provide the services to you.

Supporting quotations

To connect an account, SoFi requires you to use a service offered by Plaid Inc. (“Plaid”).

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 connect an account , SoFi may require you to use a service offered by a data aggregator, such as Plaid Inc.

You expressly grant to the aggregator (such as Plaid) the right, power, and authority to access and transmit your information as reasonably necessary to provide the selected services to you.

Qualifications & exceptions

• The access and transmit authority is limited to what is reasonably necessary to provide the services to you.
• Which of the two provisions controls is not stated.

Not stated here

• The document contains both a Plaid-specific provision (SoFi "requires" Plaid) and an aggregator provision (SoFi "may require" an aggregator such as Plaid); it does not say how they relate or whether the earlier is superseded.
• Plaid's Privacy Policy was not supplied, so what Plaid collects and does with information is not described here.

Sharing & Disclosure · Permission or license

You authorize SoFi to receive information from your employer and send your loan information and payment details to it

You authorize SoFi to receive information about you from your employer as necessary to facilitate your participation in the employer's program. You also authorize SoFi to deliver to your employer information about you and your loan, including the amount and timing of your loan payments, so that your employer may deliver contributions to the account you have designated.

Supporting quotations

You authorize SoFi to receive information about you from your employer as necessary in order to facilitate your participation in the employer’s program.

You authorize SoFi to deliver to your employer information about you and your loan, including the amount and timing of your loan payments, so that your employer may deliver contributions to the account you have designated.

Qualifications & exceptions

• Receipt from the employer is limited to what is necessary to facilitate your participation in the employer's program.
• Delivery to the employer is stated to be so that the employer may deliver contributions to the account you designated.

Sharing & Disclosure · Restriction or exception

Some funding methods do not count for bonuses; referred prospects' account details are not shared with Referrers

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 the Referrer.

Supporting quotations

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 the Referrer.

Qualifications & exceptions

• The funding exclusion applies only where account funding is required for payout eligibility.

Sharing & Disclosure · Restriction or exception

Referred people may not be emailed in some cases, referrers get no loan details, and participation waives privacy once

If the Eligible Loan Recipient already has a SoFi loan account, is on SoFi's opt-out list or the national email opt-out list, or has already used another referrer's unique link, the recipient may not be sent an email. SoFi cannot disclose to the referrer any information about funded loans opened by recipients they refer. 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 SoFi Bank.

Supporting quotations

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 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 SoFi Bank.

Qualifications & exceptions

• The waiver is described as one-time and limited, and as letting each party become aware of an account relationship with SoFi Bank.