Business Profile

Loans

SoFi

Headquarters

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Important information

Customer Complaint:
BBB’s business profile for SoFi was created in September 2012. A review of SoFi complaints was completed in June 2025.

Consumers are encouraged to review the following links for information on terms of service and security.

SoFi Terms of Use Agreement
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Complaints

This profile includes complaints for SoFi's headquarters and its corporate-owned locations. To view all corporate locations, see

Customer Complaints Summary

2,304 total complaints in the last 3 years.
764 complaints closed in the last 12 months.

If you've experienced an issue

Submit a Complaint

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

Initial Complaint
Date:04/11/2025
Type:Service or Repair Issues
Status:
AnsweredMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
I am filing this complaint against SoFi regarding their mishandling and denial of a dispute I submitted for a defective and misrepresented espresso machine purchased from Whole Latte Love. Despite providing clear evidence that the item was not new, arrived incomplete, and was defective, SoFi denied my claim without offering a valid explanation. This reflects a failure in SoFis consumer protection and dispute resolution processes. Details of the Issue:On February 17th, I received an espresso machine sold (which I paid $1,814.70) as new, but it arrived in unacceptable condition: (1) Not New: The machine had condensation inside the wrapping and on its bodyclear signs of prior use or improper repackaging. I submitted photographic evidence as part of my dispute.Missing Parts: The portafilter and drip tray, essential components to working the machine shown in product listings, were missing. Photos showed the compartment where they should have been was empty. (2) Defective: The machine immediately leaked water from the base immediately upon powering on, creating a safety hazard and rendering it unusable. (3) Unreasonable Return Policy: The seller demanded over $100 in restocking fees and $350+ in return shippingnearly $500 just to return a defective item.All of this was presented to SoFi in the dispute. My claim and appeal were both denied.Why This Reflects Poor Practice by SoFi:SoFi failed to protect me as a consumer. They ignored or dismissed clear evidence and placed the entire burden on me, leaving me without a working product and out over $1,800. No accountability was applied to the merchant for delivering a faulty and misrepresented product. What I Am Seeking:I am asking for a full refund based on the fact that the item was defective, incomplete, and misrepresented, and that returning it should not come at my financial expense. I acted in good faith, and I believe SoFi failed in their obligation to do the same in handling my case.
Business Response
Date: 04/17/2025
Please reference the attached letter.
Customer Answer
Date: 04/21/2025

Complaint: 23193256

I am rejecting this response because: It has not yet been resolved, however they have reached back out to me and are supposedly working on it.

Sincerely,

****** *******
Business Response
Date: 04/25/2025
Please reference the attached letter.
Initial Complaint
Date:04/11/2025
Type:Service or Repair Issues
Status:
AnsweredMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
Today I asked for a suspension of repayment due to a hardship of having open heart surgery. I asked for a 4 month suspension while I recover. I was willing to pay a reduced amount as well if needed or interest only if possible for the 4 months. I was denied completely since my account was only 4 months old with full payments and had to reach 9 months to be eligible. On March 17th I underwent a double bypass due to a genetic disposition resulting in 95% blockage. Since my hardship is causing a reduction in my income, I requested the suspension or reduction. They told me no and when I don't pay the full amount they will report me to the credit bureaus.
Business Response
Date: 04/17/2025
Please see attached document
Customer Answer
Date: 04/18/2025

Complaint: 23191419

I am rejecting this response because:

simply stating they have received my complaint and are responding directly to me by mail is not a response to satisfy this online complaint. By the time I receive the mail this response would have expired with the BBB. They should respond here as well.

Sincerely,

*** *******
Business Response
Date: 04/25/2025
Please see attached document.
Initial Complaint
Date:04/10/2025
Type:Service or Repair Issues
Status:
AnsweredMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
Today, April 10, 2025, my bank account was debited $5,842.02 across three transactions. The transactions came from ****** as debit card purchases. One was for $146.04 to "**** ********* BENEVID". One was for $0.17 to "FABRICA DO JEANS", and one was for $5,695.81 to "HAIKAR VEICULOS LTDA", which appears to be a ***** dealership in *******, ******. I have contacted our bank and they informed us that they would try to dispute the charges (even though they cannot dispute the largest charge yet because it is "pending"). I also tried calling the car dealership but they hung up on me. I keep our debit card secure, do not share any of the card info, and very rarely use the card except for the occasional ATM withdrawal.When speaking with SoFi customer service and the customer service manager, they were unable to explain why the transaction was not flagged as fraudulent, nor were they able to help us with the fact that we would not be able to access or funds or pay our bills until the transactions posted and they filed a dispute. Multiple other people reported on Reddit as having the exact same issue with transactions from ****** today.
Business Response
Date: 04/17/2025
Please reference the attached letter.
Initial Complaint
Date:04/10/2025
Type:Product Issues
Status:
AnsweredMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
I have over draft with Sofi for 50$ just out of now where there's a 169$ purchase on my card I filled taxes and have money and they never allow me over 50$ the limit so how do I owe over 200$ with them
Business Response
Date: 04/16/2025
Please see the attached letter.
Initial Complaint
Date:04/09/2025
Type:Billing Issues
Status:
AnsweredMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
Denied Loan by SoFi Based on False Credit Info No Human Review or Reconsideration Offered Complaint:I applied for a personal debt consolidation loan through SoFi on April 9, 2025. My credit score with Experian was 699 at the time. I have never missed a payment on any loan or credit account. I have a $26,000 auto loan in perfect standing for two years and a student loan with 100% on-time payments for over 7 years.Despite this, I was denied for reasons that were completely inaccurate. The denial letter listed too many new trades and delinquent credit obligations both of which are not present on my report. I reviewed my Experian report in full and confirmed that there are no delinquencies, no recently opened accounts, and no negative marks that would justify the denial.When I called SoFi, I first spoke to a representative who repeatedly told me there is nothing we can do. I then asked for a supervisor and was transferred to a manager named **** in ****. **** confirmed that SoFi uses automated systems only for all credit decisions, that they have no human underwriters, and that they do not allow any reconsideration or appeal even when denial reasons are inaccurate. He told me to file a dispute with the credit bureau, even though the credit report itself was accurate and the denial came from how SoFi chose to interpret the data, not an error in the report. This felt like a deflection to avoid accountability.
Business Response
Date: 04/17/2025
Please reference the attached response.
Customer Answer
Date: 04/18/2025

Complaint: 23185080

I am rejecting this response because:
As of today, SoFi has not addressed the core concerns raised in my complaint within the BBB portal. Their response simply acknowledged receipt of the letter and stated that a mailed response would follow.I respectfully ask that the case remain open or unresolved until I receive a complete explanation addressing: Why my application was denied despite no delinquencies, a 699 Experian score, and perfect payment history What specific data point(s) triggered the claim of delinquent obligations Why SoFi refuses manual review even when denial reasons are factually disputed I will await their physical response and update the BBB accordingly. Thank you.
Sincerely,

Alpha Com
Business Response
Date: 04/25/2025
Please reference the attached response.
Customer Answer
Date: 04/30/2025

Complaint: 23185080

I am rejecting this response because:
SoFis response confirms that my denial letter included a list of broad, generalized reasons, many of which do not apply to my credit report. While they state that not all reasons may be applicable, they refuse to identify which specific one(s) led to the denial despite my Experian report showing no delinquencies, no recent accounts, and a 699 FICO 8 score.

This lack of specificity is evasive and non-transparent. Under the Fair Credit Reporting Act (FCRA), users of consumer credit reports must take reasonable steps to ensure the accuracy of data when taking adverse action. I believe this denial was based on misinterpreted or inaccurately applied data, and SoFi has not demonstrated otherwise despite multiple requests.

I am disappointed in SoFis unwillingness to directly address the facts presented and will proceed with my CFPB complaint and public documentation of this process.

Sincerely,

Alpha Com
Business Response
Date: 05/02/2025
Please reference the attached response.
Initial Complaint
Date:04/08/2025
Type:Billing Issues
Status:
AnsweredMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
SOFI BANK Amount:$100000 Date:1/23/2025 Acct#********* According to 15 USC 168s- 2 A person shall not furnish any information relating to a consumer to any consumer reporting agency if the person knows or has reasonable cause to believe that the information is inaccurate . (B) Reporting information after notice and confirmation of errors According to 15 *** 1681 I have the right to privacy According to 15 *** 1681s-2 A person shall not furnish any information relating to a consumer to any any consumer reporting agency if the person knows or has reasonable cause to believe that the information is inaccurate. (B) Reporting Information after notice and confirmation of errorsA person shall not furnish information relating to a consumer to any consumer reporting agency (i) The person has been notified by the consumer, at the address specified by the person for such Notices, that specifies information inaccurate, and (ii) the information is, in, fact, inaccurate. According to 15 USC 168i(15) the credit bureaus have to modify or Delete fraud Account that are not reporting accurately. According to 15 USC 1681b(1) the credit bureaus dont have no written permission. According to 15 *** 1681 have the right to privacy Section FCRA 611(a)(6)(B)(iii) and (7) of the Fair Credit Reporting Act, 15 U.S.C. 1681i, and send the required notifications to all furnishers of this information. Fair Credit Reporting Act, 15 U.S.C. 1681s-2 Section 623(a)(8)(D) Section 603(p), must notify consumers in writing if they may furnish or have furnished negative information to a CRA. Section 623(a)(7).According to 15 U.S.C 1681s-2(a)(1)(A) and (B)to report inaccurate informationPlease DELETE this information from my credit report, pursuant to section 611 of the Fair Credit Reporting Act, 15 U.S.C. 1681i, and send the required notifications to all furnishers of this information
Business Response
Date: 04/17/2025
Please reference the attached letter.
Initial Complaint
Date:04/08/2025
Type:Order Issues
Status:
AnsweredMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
Close checking and savings account
Business Response
Date: 05/09/2025
Please reference the attached letter.
Customer Answer
Date: 05/10/2025

Complaint: 23176688

I am rejecting this response because: there is a LIE in the final statement! YOU CLEARLY STATE THE CHARGE WAS 03/08/25. I DID NOT WAIT AN ENTIRE MONTH TO REQUEST CLOSURE. BECAUSE THIS @@@@@AND@@@@ ANOTHER PROBLEM SIMULTANEOUSLY EXISTED CONCERNING YOU ALLOWING ******* TO UNSCRUPULOUSLY REMOVE @@@@MY@@@ MONEY FROM MY ACCOUNT X 2 I WANTED THE ACCOUNT CLOSED IMMEDIATELY. IT TOOK YOU 2 FULL MONTHS (UNTIL THE END OF APRIL) TO ALLOW THAT CLOSURE. YOU AND ******* CAN BOTH KICK ROCKS. YOUR BUSINESS ***** AND WILL FAIL.
Thank you for revealing your true self before this business relationship went on too long,
****** ***
Initial Complaint
Date:04/08/2025
Type:Billing Issues
Status:
AnsweredMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
I had an account with **********************, I informed SoFi of financial hardships I was experiencing and asked for help. They told me they didnt care. I got behind on my payments but I paid what I could when I could. They accepted those payments. The last payments were made between Jan,Feb, Mar. SoFi sold my account without my consent and without attempting to reach a resolution. SoFi deleted my financial statements without my permission. My account was behind but it was actively being paid on therefore it was active.
Business Response
Date: 04/17/2025
Please view attachment. A final response will be sent via email
Initial Complaint
Date:04/08/2025
Type:Service or Repair Issues
Status:
AnsweredMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
I was approached online after entering a local contest (grocery store) was told i won contest supported by SoFi. enter information to collect prize. I entered and was sent a link to apply for loan or get credit report. I called local store when they opened and they said they were not affiliated with SoFi. I asked SoFi to remove my collected data because it was collected by fraud and they refuse.
Business Response
Date: 04/17/2025
Please reference the attached letter.
Initial Complaint
Date:04/07/2025
Type:Product Issues
Status:
ResolvedMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
After refinancing my loans with ******* to settle my Sofi loans, Sofi transitioned the loan servicing from ****** to themselves. This transition caused a delay in the processing of payments on Sofi's side, resulting in additional costs for me: approximately $100 in interest and $1348.57 in principal. Despite contacting Sofi twice by phone and once by email in March to request a refund, there has been confusion regarding the status of my refund. One representative indicated that the refund would be processed on March 20, 2025, while another stated that the refund check was sent to ******* on March 3, 2025. However, ******* has not yet received the refund check, even after a month. I request that Sofi stop payment on the refund check if it has not been cashed and reissue it directly to me, as the additional payment was made with my funds. If the check has already been cashed, I require a copy for my records, as ******* has no record of receiving it.
Business Response
Date: 04/17/2025
Please reference the attached document.
Customer Answer
Date: 04/18/2025

Complaint: 23172222

I am rejecting this response because: I do not see any message from SoFi.

Sincerely,

*** ****
Business Response
Date: 04/25/2025
Please refer to the document attached.
Customer Answer
Date: 05/01/2025
Better Business Bureau:

I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.

Sincerely,

*** ****

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SoFi is NOT a BBB Accredited Business.