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Loans

SoFi

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

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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

2,305 total complaints in the last 3 years.
763 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:04/14/2025
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.
- My account was lost when it was transferred from MOHELA to Sofi (it transferred under my maiden name, old address, old phone number, etc. despite me having updated that information timely each time there was a change)- When I finally regained access to my account within **********************, I applied for a skip-a-pay on 2/25, because although my account was impossible to find, it was still incurring costs. - The skip-a-pay continued to pend for over 20 days, so I called into Sofi on 3/13. I was advised that Sofi internally did not complete the request correctly and it was rejected. I was advised since the skip-a-pay was not processed, I should apply for a short-term payment relief instead since that would help me better bring my account current. I immediately applied for this. - I followed up on the repayment plan several times, and then on 3/25 the skip-a-pay was miraculously approved instead of the repayment plan. - I called in and worked with a supervisor to fix this back to the payment relief and two weeks later Im being told that is not possible. Sofi has made mistake after mistake on my account since Feb. I have spent 3 hours on the phone trying to fix this and no one is taking care with my account to look into what took place and fix it.
Business Response
Date: 04/23/2025
Please reference the attached letter.
Initial Complaint
Date:04/14/2025
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.
Sofi is making me wait WEEKS for a simple dispute with a well known fraudulent company that placed a charge on my checking account. I sent them all the documents they needed, I make follow up calls and they lost my documents I sent them. I told them to credit my account with the purchasing power of the fraud charge and they refuse. They said they have no way to escalate my dispute case. This is outrageous
Business Response
Date: 04/23/2025
Please see attachment
Customer Answer
Date: 04/23/2025

Complaint: 23203305

I am rejecting this response because: you have not resolved the issue

Sincerely,

***** ******
Business Response
Date: 04/24/2025
Please see attached document.
Initial Complaint
Date:04/13/2025
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.
Someone open an account in my name with this company I have been trying for a week to get their customer service involved so I can shut the account down they have not answered no matter what prompt I pick no one answers I get an automated message stating they have a high call volume and to hold on when I hold on the line just hangs up on its own Ive tried to contact them via social media about this and they directed me back to their customer service line that doesnt have anyone there to assist you I tried getting online through their website which I cant do because whoever set the account up used their number so due to their security I cant even contact them that way I emailed no response my next route will be to contact a lawyer
Business Response
Date: 04/23/2025
Please reference the attached letter.
Initial Complaint
Date:04/13/2025
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.
Two weeks after my first Direct Deposit on weekend or Monday I recieved either a text or email stating that They Declined *ayment on a * to *. Not knowing what that meant I called & talk to agent saying did you authorize this * to * I said absolutely Not so it was noted I disputed it emEnded conversation understanding it was taken care of. Tuesday I see missed calls from SoFi so called & was told verifying dispute ok. Next call I'm informed my account will be frozen til the matter is resolved. I explained that was all my money my SSDI ********* had important things I must pay, after awhile after putting me on hold he comes back said it's been expedited & dispute closed acct not frozen. After going back & forth with 3-4 agents All repeating same thing I get an agent said ok it's resolved & I asked how do I prevent this happening he said when we hang up go online change your security codes upon doing this now 3-4 days after I said I did not authorize the transaction I go to change security code & ALL My money is gone THEY LET THE * to * go through Why? I have called several times & can't get past the agents that say same thing making no sense I must wait 2-3 **** days & will get email update. Well I sat stranded with no money for past 6 ************* same story 3-5 **** days. Meanwhile I have no ********** payments are going to be late & I have been trying to get my credit better ..I want to talk to someone that knows more then standard line of nonsense & discuss What is going on ..
Business Response
Date: 04/22/2025
Please reference the attached letter.
Customer Answer
Date: 04/22/2025

Complaint: 23197471

I am rejecting this response because: SoFi knew days before after many conversations with multiply agents that I In NO Way knew anything about the transaction or the person I was supposedly sending money too.
The daily gave me a roller coaster emotional ride stating not to worry it's handled to we need to freeze account to I needed to give them time for dispute process but not to worry since I DID NOT Authorize transaction it would not be allowed then to them turn around & pay it telling me I didn't have a dispute filed until Friday the 11th of April when first contact was Monday & Tuesday had several conversations with them . The put transaction they knew was Fraud & after that I get email saying they would not be giving my money back because They determined They did nothing wrong This is after only 2 weeks of my SSDI Direct Deposit & their site claims Money is Insured We believe in Helping our clients & they are there for the clients & keeping their finances in a safe place. How can they give my money to something they knew was wrong & I had nothing to do with it & state They did Nothing Wrong .My SSDI is all I have & every month is a struggle to survive with Cost of Living impossible for a single disabled 66 yr old to take care of the minimum bare necessities. They Has to be someone to help the little ********** citizens from the big Money Companies that don't look at Us as respectable once hard working contributing citizens please help me get the justice I deserve Thank You
Sincerely,

***** *******
Business Response
Date: 04/29/2025
Please reference the attached letter.
Customer Answer
Date: 05/08/2025

Complaint: 23197471

I am rejecting this response because: I believe there was No Reason for SoFi to give my money to a transaction that for several days prior were alerted that I Did Not Authorize nor participate in the transaction. I was told my money was safe & protected with SoFi. I do not understand how they could pay out on a transaction I had No part in & they knew this at least 3 days before they paid it out I have suffered late fees & I am still trying to catch up after losing the money meant to survive & pay my bills. I 100% know it was SoFi's responsibility. Thank You ***** *******

Sincerely,

***** *******
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.

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SoFi is NOT a BBB Accredited Business.