Business Profile

Loans

SoFi

This business is NOT BBB Accredited.

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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
SoFi FAQ

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:04/08/2025
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,

*** ****
Initial Complaint
Date:04/06/2025
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.
This concerns the SoFi at work tuition reimbursement program. These people cannot understand simple concepts. As a graduate student I live off of loans. I do not pay out of pocket for tuition, the loan is sent from the federal government to the school, then I live off whatever little is left over. They keep asking for receipts, I have given them multiple loan statements, billing statements from my school, etc. and they still say its invalid. I am also submitting a complaint to the BBB because this is predatory at this point denying multiple forms of otherwise acceptable proof of payment made for tuition purposes. Accept the multiple forms of proof of the payment that I have sent to you.
Business Response
Date: 04/14/2025
Please reference the attached letter.
Initial Complaint
Date:04/06/2025
Type:Billing 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.
I was looking at SoFi as a possible banking solution. I was filling out their forms and then decided to stop. I never got to the point of actually creating an account.And yet, an account was somehow created. They even sent me a card in the mail.I don't want an account AT ALL with **********************. I attempted to contact their customer support and they said they couldn't help **** just want the account closed and my data removed that I DID NOT submit to them.I can't give an account number because I never opened a checking account (so, why did they send me a card?). This is about an account on their systems where you CAN open a checking account. I do not want.
Business Response
Date: 04/16/2025
Please refer to the attached document.
Customer Answer
Date: 04/18/2025
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,

***** *****
Initial Complaint
Date:04/05/2025
Type:Service or Repair 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.
I signed up for SoFi a few weeks ago and set up my direct deposit, I was advised that upon my direct deposit, I would receive a welcome bonus of $300. After my second direct deposit I was advised by customer support that my direct deposit from my employer did not count as, well, direct deposit from my employer. I even provided a copy of my pay stub and was told that they would open a ticket. The *** stated also that I would be getting $50 instead of the $300 I was advertised and that she would up my interest rate to the highest APY in the mean time. The *** refused to provide a ticket or reference number so I have no faith that this has been done. I believe that Ive been misled and theyre trying to avoid paying me my welcome bonus. None of these promises have been kept. Id like to continue banking here, but Id like these promises that were made to me to be kept.
Business Response
Date: 04/14/2025
Please reference the attached letter.
Customer Answer
Date: 04/14/2025

Complaint: 23165122

I am rejecting this response because:SoFi has not provided any resolution, and is simply kicking the can down the road. Theyve had ample time and have done nothing but delay an actual resolution . I expect a full report in my inbox by end of week.

Sincerely,

******* ******
Business Response
Date: 04/15/2025
Please reference the attached letter.
Customer Answer
Date: 04/15/2025
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,

******* ******
Initial Complaint
Date:04/05/2025
Type:Service or Repair 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.
Complaint Against SoFi Denial of $300 Direct Deposit Bonus Despite Full Eligibility To whom it may concern,I am filing a formal complaint against SoFi for failing to honor their $300 promotional bonus for setting up direct deposit, despite the fact that I met all the clearly stated requirements.According to the promotions terms, I was required to receive a total of $5,000 or more in direct deposits from an employer. I completed this step in full:I received five ACH transfers from my employer.The total amount exceeded $5,000.These were legitimate payroll payments sent via standard ACH, the only method available to me through my employer.SoFi is now refusing to issue the bonus, claiming that the deposits werent "properly coded" as direct deposits yet nowhere in the promotions terms was it specified that they needed to be coded in a particular way. ACH is ACH and I had no control over how the employers system "coded" the transaction.Their support has been entirely unhelpful and dismissive. Every attempt Ive made to resolve this has led me into an endless loop: agents reset the conversation, repeat canned responses, and disregard everything Ive previously explained. It's become obvious that SoFi is intentionally creating barriers and inventing technicalities to avoid paying out promised bonuses.The required time frame has passed, and this issue should have been resolved long ago. I believe SoFi is misleading customers with deceptive promotional practices and failing to honor clear commitments.I am requesting BBB assistance in having SoFi issue the $300 bonus as originally advertised and stop misleading customers with unclear and shifting criteria.
Business Response
Date: 04/14/2025
Please reference the attached letter.
Customer Answer
Date: 04/18/2025
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,

****** ******
Initial Complaint
Date:04/04/2025
Type:Delivery 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.
we received a preapproved offer completed the application and it says "sit tight we are processing your application, after numerous calls in still pending, they tell me there's missing information but there is no way to get into fix or add the informatoin
Business Response
Date: 04/11/2025
Please reference the attached letter.
Customer Answer
Date: 04/14/2025

Complaint: 23161203

I am rejecting this response because: They haven't addressed anything with me and have not cleared anything up

Sincerely,

***** ********
Business Response
Date: 04/17/2025
Please reference the attached letter.
Customer Answer
Date: 04/17/2025

Complaint: 23161203

I am rejecting this response because: If a lender makes misleading claims about the likelihood of approval or makes pre-approval seem like a guaranteed final approval, it could be considered deceptive and potentially violate consumer protection laws.

Sincerely,

***** ********
Business Response
Date: 04/24/2025
Please reference the attached letter.
Initial Complaint
Date:04/04/2025
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 recently received a refund from the ***. I have been moving money around purchasing items and things. On April 1 2025 SoFi placed a restriction on my account told me it was done for security reasons and they needed one business day to resolve the matter. I gave them one business day and called back upon noticing my account was still restricted. I was told to give them until Friday April 4 2025 and was assured my account would be unrestricted that the matter was escalated to the internal review team. I gave them until Friday and I still have no resolution. Nobody can tell me why they account was actually restricted nor can anyone tell me why the timeframe was not abided by on SoFi end. I have been patient and understanding but I have bills and this is starting to affect my livelihood.
Business Response
Date: 04/11/2025
Please reference attached letter
Customer Answer
Date: 04/11/2025

Complaint: 23160305

I am rejecting this response because: Although my account was unrestricted on 4/9/2025 it was placed back on restriction not even a full 24 hours later. This response was given after I told representatives that I would be reaching back out to the better business bureau not prior to. Therefore it is not sincere my request has not been resolved it was only done to try to stop me from reaching out to BBB again. It has only been 19 hours and my account was placed on restrictions again. This is affecting my livelihood and everyday life.

Sincerely,

****** *******
Business Response
Date: 04/17/2025
Please reference the attached response.
Customer Answer
Date: 04/17/2025

Complaint: 23160305

I am rejecting this response because: They took all of the money out of my account and returned it to the irs after the irs verified the deposit. They have not provided any update or response at all to me. I am very upset and I am highly dissatisfied with SoFi.

Sincerely,

****** *******
Business Response
Date: 04/23/2025
Please reference attached letter.
Customer Answer
Date: 04/25/2025

Complaint: 23160305

I am rejecting this response because: SoFi stated my account would be closed upon the *** receiving the funds back which they have over a week and half ago. My account still hasnt been closed my remaining funds still have not been mailed out in a check like I was told they would. The account is very much still open and restricted. I spoke to a SoFi Representative who stated they are unable to give me any update or information on my account and why it still hasnt been closed. She was only able to tell me they are awaiting a response from the *** which is not true because I also spoke with the *** in person via appointment I scheduled. They have stated SoFi should have been closed the account because they received the funds back last week Thursday and they shouldnt be awaiting any response when they have already tried to provide them with necessary information and it wasnt enough for SoFi bank deposit agreement. The agent stated they have talked with SoFi members multiple times regarding my tax return. They have investigated and finished and provided SoFi with information yet my account remains open and restricted. SoFi doesnt answer any of my questions unless I go through the BBB and this has been the absolute worst banking and business I have ever experienced in my 27 years of life. I would appreciate if they would process my account closure and mail my remaining funds via check as the funds has been sent back to the *** over a week ago. I am highly disappointed and dissatisfied with the service I have been receiving from this online bank.

Sincerely,

****** *******

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SoFi is NOT a BBB Accredited Business.