SOFI* Charge (What It Is + Is It Legit?)
✓ LegitimateThe "SOFI*" charge is from SoFi. SoFi financial services charge.
SoFi
SoFi financial services charge.
Category
Finance
Avg. Charge
Variable
Country
US
Billing Cycle
Variable
Cancel At
sofi.com/account
Support
See website
Why does this charge appear?
When SoFi processes transactions through major card networks and payment systems, their billing identifier gets truncated to "SOFI*" because merchant descriptor fields on Visa and Mastercard statements have strict character limits, typically capping recognizable names at a shortened prefix followed by an asterisk. The asterisk in "SOFI*" is a standard separator used by payment processors to distinguish the merchant name from any additional transaction detail, such as a product type or reference code, that may follow it. If you see "SOFI*" on your bank statement, it is almost certainly a legitimate charge from SoFi Technologies, which offers a range of financial products including personal loans, student loan refinancing, investing accounts, and banking services.
What should you do?
Identify Your SoFi Service
Log into your SoFi account at sofi.com and review your active products, such as SoFi loans, SoFi Invest, SoFi Money, or SoFi credit cards, to pinpoint exactly which SoFi service generated the SOFI* charge on your statement.
Match the Charge Amount
Compare the SOFI* charge amount on your bank statement against your SoFi account billing history or loan payment schedule found at sofi.com to confirm the amount aligns with your expected fees, interest payments, or subscription costs.
Review Your SoFi Membership
Check whether you are enrolled in SoFi Plus or any premium SoFi features by visiting sofi.com/account, as recurring SOFI* charges may reflect a membership fee or auto-payment tied to one of SoFi's financial products.
Cancel or Adjust Your SoFi Plan
If the SOFI* charge is for a service you no longer need or want, visit sofi.com/account to manage your subscriptions, adjust your payment settings, or cancel any active SoFi plans to prevent future charges from appearing on your statement.
Is this charge fraudulent?
No, this is a legitimate charge from SoFi. However, if you did not authorize this charge or cancelled your subscription, you may be eligible for a refund.
Frequently Asked Questions
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