Identifiers.
Yes. SoFi's developer declares identifiers as data used to track you — data that can be combined with other companies' data for targeted ads or ad measurement, or shared with data brokers. On iPhone you can refuse: tap Ask App Not to Track, or switch off tracking requests for every app in Settings.
What “tracking” means on an iPhone
Apple defines tracking as linking data from this app with data from other companies' apps, websites or offline sources for targeted advertising or ad measurement, or sharing it with a data broker. It is narrower than “collecting data”: an app can collect a lot without tracking you, and a small app can track you with a single advertising SDK.
Since iOS 14.5, App Tracking Transparency requires every app to ask before it accesses your device's advertising identifier or otherwise tracks you. The App Store label is where the developer declares which of its data is used that way. SoFi declares 1 data type, so expect the “Allow SoFi to track your activity across other companies' apps and websites?” prompt.
The data SoFi uses to track you
Identifiers
An account ID, screen name, customer number or a device-level ID such as the advertising identifier. Identifiers let a service recognise the same person or phone across sessions. Combined with other data, they are what makes cross-app tracking possible.
How to stop SoFi from tracking you
- When SoFi shows the tracking prompt, tap Ask App Not to Track.
- Already said yes? Open Settings › Privacy & Security › Tracking and switch off the toggle next to SoFi.
- To refuse every app in one go, switch off Allow Apps to Request to Track on the same screen. Apps then cannot ask, and are treated as if you declined.
- For Apple's own ads in the App Store, News and Stocks, see Settings › Privacy & Security › Apple Advertising and turn off Personalised Ads.
- Inside SoFi, look for an analytics or personalised-ads switch in its own settings; it covers data the iOS switch does not.
SoFi's full privacy label
Do other banking apps track you?
17% of the 196 banking apps with a label in our snapshot declare tracking; 3% say they collect nothing at all. Nearby in the list:
| App | Tracks you? | Data types |
|---|---|---|
| Capital One Mobile | Yes | 1 |
| PayPal | Yes | 12 |
| Wells Fargo Mobile | No | 7 |
| Cash App | No | 8 |
| Bank of America Mobile Banking | No | 6 |
| Dave | No | 7 |
| Varo Bank | No | 7 |
| Venmo | Yes | 10 |
Check your settings
Done. You have applied every control the label points to.
True or false?
- Right.Not quite.
True: it lists identifiers under Data Used to Track You.
- Right.Not quite.
Labels are self-reported by developers. Apple can reject or remove apps that misrepresent practices, but it does not audit each label.
- Right.Not quite.
True: Financial Info appears on its label.
- Right.Not quite.
It is collected and sent; the developer says it is de-identified rather than tied to your account or device.
FAQ
How do I stop SoFi from tracking me?
Will SoFi still work if I decline tracking?
What is the difference between tracking and data linked to me?
Does declining tracking stop all data collection?
Can apps track me without asking?
Is SoFi safe? Full privacy report →How to lock SoFi on iPhone →Who tracks you? A–Z →All finance apps →