Business Profile

Loans

SoFi

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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:04/03/2025
Type:Customer Service 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 is a bank that was supposed to protect my money this bank allowed someone to use my account and scam me for over $3000. Iopened up numerous of cases dispute cases with this company. Nobody wants to help me everybody close my case then I have to provide them due to on my own to provide them with information and discrepancies asking him Why this stuff was ordered in ***** and Im not even in *****. Im in *******. OK they had to reopen a case and now they want to forever and they wanna give me to run around like this is ridiculous. Im over it. Im over being nice with these people. Ive been getting therunaround for days and days and days now and nobody has come to know Ground **** that they owe me over $3000. Theres no way a customer should be treated like this no way no way am I supposed be OK with you guys just treating me like this I open up an account with you guys. I have my direct deposit set up with guys cause I trusted that you guys was gonna keep my money safe and you guys did not do that. I am attaching the chats with theirrepresentative so you can see like they really dont care. Also Im attaching the emails that I sent to them OK and still they wanna give me to around I dont wanna give my money back. Its crazy that a customer in this day and age has to go through something like this with their bank like this is nuts to me.
Business Response
Date: 04/11/2025
Please reference the attached letter
Customer Answer
Date: 04/14/2025

Complaint: 23156160

I am rejecting this response because:
These people at this bank has not even did no type of investigation. This is crazy because if they have, they will see that my account was access all the way in ***** Ive been in *************** *******. Im from *************** Florida never left *************** Florida so how is that possible that I am the one whos doing that charges that is not even possible OK they just dont wanna give my money back and this is not right.
Sincerely,

****** *******
Business Response
Date: 04/17/2025
Please reference the attached letter.
Customer Answer
Date: 04/18/2025

Complaint: 23156160

I am rejecting this response because: my card information was stolen and this is fraud. They took over $3000 from me. I need it back.

they logged onto my account from ***** plenty of times with the ** address from ***** so Im unsure of how Im in *************** going to work and they got a ** address in ***** logging into my account making changes

Sincerely,

****** *******
Business Response
Date: 04/25/2025
Please reference the attached response
Initial Complaint
Date:04/02/2025
Type:Sales and Advertising 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 is running a direct deposit promo for $300 after $5,000+ in direct deposits within a span of 25 days. I called Sofi multiple times starting from Feb 2025 before enrolling in the promo and initiating the 1st direct deposit. I had to go through a lot of processes to make the deposits.I had explicitly called in to verify whether existing customers with any past bonus will be excluded. I was told NO. Most recent conovs were with Vhel on 3/14 and *** on 3/27, who said that they had made a note on the acct. that I had completed all the reqs, and the bonus would be credited soon. I made all the calls proactively since Sofi never made the direct deposit. Then, I receive an email from ******* that I will not get the deposit because 5 years ago, they had given me a bonus of $*****, their chat and phone **** have no knowledge, are not trained in the slightest, and they just lure in customers into making deposits with the deceit of a bonus. I have asked them to check their call records, and have received no response from Sofi. I hear 10 different responses from 10 different ****, as they lack basic training.
Business Response
Date: 04/11/2025
Please reference the attached letter.
Initial Complaint
Date:04/02/2025
Type:Sales and Advertising 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.
Hi I had student loans with ****** they decide to merge them to Sofi and I had not been given information. I made my payment of $170.00 on time and it has been out of my acct since 2/6/2025. They will not get my payment from ****** posted. They keep showing I am past due calling me all day while I am working. I need my payment posted. I am not past due. I attached receipt. ****** said it is Sofi issue. They will not talk to each other. I have called 5 times and chatted 5 or 6 times. Thanks ****
Business Response
Date: 04/10/2025
Please reference the attached letter.
Customer Answer
Date: 04/14/2025

Complaint: 23151015

I am rejecting this response because: they have not posted my payment from 2/6/2025 and have not omitted that they made an error. Only stated they would look and I have made a lot of calls and chats and nothing is getting done. I want my $170.00 applied to my account from 2/6 payment. Thanks

Sincerely,

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

Complaint: 23151015

I am rejecting this response because:
They still have not applied the payment or sent a letter in the mail to me. This issue has not been resolved to date.

Sincerely,

**** Elliottt
Business Response
Date: 04/25/2025
Please reference the attached letter.
Initial Complaint
Date:04/02/2025
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.
SoFi was advertising a promotion of an, "1% *** match on rollovers and contributions" through ******** advertisements, ****** sponsored ads, among other platforms. Intrigued by this, I clicked on the "Get a 1% Match" button (example page: *******************************************************), believing that the subsequent pages would guide me through the process of obtaining the bonus.While following all the steps these pages provided me, including utilizing the FAQ/Help section of the SoFi website, I never received the bonus. One customer service representative identified my rollover deposit, and instructed me to wait the 60-day waiting period. However, after the 60 days and still never receiving my bonus, I contacting SoFi customer service again. From this chat, I learned that I needed to go through a third party to complete the transfer of my rollover into my account. This requirement was not mentioned in the promotional copy or the top part of the initial promotional pages, which caused some confusion as I was under the impression that everything would be managed directly through SoFi per their 401k roll-over FAQ and multiple help topics on their website. The button in the advertisement continues to direct user to click the button for the 1%, however remains directing the user to disqualifying links as ********************** is intentionally misleading their users to deposit money expecting the bonus while claiming they are not eligible for it. I would like to express my concerns regarding the clarity of the promotional material and request any updates or additional information regarding how I can proceed in order to take advantage of this promotion appropriately.
Business Response
Date: 04/11/2025
Please see attached document
Customer Answer
Date: 04/15/2025

Complaint: 23150642

I am rejecting this response because:
No response via email or other means were received.

Business Response
Date: 04/21/2025
Please see attached document.
Initial Complaint
Date:04/02/2025
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 denying my disputes of fraudulent charges. I have proven the charges were made using my stolen phone via a police investigation and stolen phone claim and deductible. My phone was stolen on 02/08/2025. My stolen iPhone was used to make many fraudulent charges using Apple Pay and Apple Cash. Three of the fraudulent charges were made using my Sofi Account on 02/08/****************** ******, $4129.09 (dispute denied)-Apple Cash, $999.80 (dispute denied)-Zelle Payment to G, $1000.00 (dispute approved by *****) The thief was able to make the transactions using my stolen phone. I filed a police report detailing the events, including how my phone was stolen and the variety of fraudulent charges the thief made using the card. I have a document of the findings from the police investigation, concluding the thief attempted to use many cards at Neiman ******, but only the Sofi charge went through and was not deemed fraudulent. All of the charges made using my accounts with other institutions did not post or were deemed fraud (including ****************************, ****************, ********). SoFi was the only institution that posted the transaction and denies the dispute. Also, I had to replace my stolen phone, please see the attached documents of the claim and payment with ATT. I have called Sofi many times to get a resolution on this issue. Most of the time, I was told that the dispute was being worked on, but then I would receive a denial without any follow up or request for additional information. When information was provided, it was usually very difficult to access since the links would not lead to the actual document. I had to call many times and demand to be transferred multiple times to get any bit of information. Sofi continues to deny my dispute despite the evidence of the police report and stolen phone claim that prove my phone was stolen and the thief used it to make fraudulent charges on my Sofi account.
Business Response
Date: 04/11/2025
Please reference the attached letter.
Customer Answer
Date: 04/14/2025

Complaint: 23148971

I am rejecting this response because:

Sincerely,

**** ******
Customer Answer
Date: 04/17/2025
SoFi did nothing to resolve my claim.
The only thing SoFi did was send a message saying that they were going to send mail. Nothing SoFi has done has changed any of the circumstances. They continue to drag on this dispute, which they have been doing for months.
They have not acknowledged the evidence I have provided that shows my phone was stolen and used to make fraudulent charges against my account. SoFis lack of security allowed the fraud, whereas other financial institutions were able to recognize the fraud.
Business Response
Date: 04/17/2025
Please reference the attached letter.
Customer Answer
Date: 04/17/2025

Complaint: 23148971

I am rejecting this response because:
The company selectively approves or denies disputed fraud charges because of the amount.
SoFi credited one smaller value dispute but denied another dispute despite the exact same circumstances.
How can fraud be occurring on my account, but only a few hours later similar activity occurs but it is not deemed fraud? Because SoFi made an error in allowing the charge and refuses to acknowledge their lack of security that other financial institutions maintain.
The largest charge I have ever made to my card is not considered abnormal activity? Have I ever used the card in any retail store ever?
Sincerely,

**** ******
Business Response
Date: 04/24/2025
Please reference the attached letter.

Customer Answer
Date: 04/30/2025

Complaint: 23148971

I am rejecting this response because SoFi has not reimbursed my account for the fraudulent activity that occurred due to the institutions lack of security.
The reasons given for determining the activity as non-fraudulent directly opposes the multiple pieces of evidence given that:
1) Show my inability to be at the location where the fraudulent charges happened (with my time stamped itinerary)
and
2) Demonstrate the police investigation of the fraud case, as well as the insurance and deductible for my stolen phone used to commit the fraud.
By denying the evidence I have supplied, SoFi is suggesting that I, myself, have committed fraud through their accounts and ATTs phone insurance, and submitted false police reports. This suggestion is categorically false.
SoFi chooses to overlook the ***************************************** findings, and have not reached out to this department one time during this whole ordeal, showing their lack of effort to fully investigate this claim. They have not provided any evidence beyond looking at their own records.
The payments SoFi refuses to credit back to my account results from the lack of security by the financial institution, and others consumers will suffer the same issue.
I only want my rightfully earned money back in my account and to use the SoFi bank without fear of thieves fraudulently using my funds.
Sincerely,
**** ******
Initial Complaint
Date:04/01/2025
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.
3/29/25 $390.00 USD was taken from my Sofi checking account from a Kroger in **********************. Sofi immediately texted me and asked did I authorize these transactions I immediately responded and said NO. They responded by saying they are unable to process my response so I then immediately called and filed my dispute. I have never been to a Kroger a day in my life nor have I ever been to *********. I did everything Sofi asked me to do and provided them will any and all info I could. They did a investigation and denied my dispute which just doesn't make sense because they texted me as soon as those transactions happened and I said I did not authorize them and I called them right after and told them the same thing. How can a bank let someone scam their customer and then not reimburse them when I did everything I was supposed to and in a timely manner. I just want my money back that's all. Sofi said that they determined no unauthorized activity occurred which doesn't make any sense because I literally texted them right after it happened and I said I did not authorize any of those 5 transactions at ****** and it even popped up on my banking app unusual activity. So how they can they say no unauthorized activity occurred. I filed a appeal which they will probably deny again so I'm filing this because this is just not right at all.
Business Response
Date: 04/11/2025
Please see the attached document.
Initial Complaint
Date:03/31/2025
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.
They have frozen my account for no reason all I want is my money but I keep getting the runaround it has been 4 days now it is March 31 2025
Business Response
Date: 04/09/2025
Please reference the attached letter.
Customer Answer
Date: 04/11/2025

Complaint: 23138014

I am rejecting this response because:
That is my wife ******** ****** she was supposed to be added to the account you guys also charged fees of returned ach payment because of you guys pulling money back out of the account
Sincerely,

**** *****
Business Response
Date: 04/17/2025
Please reference the attached letter.
Customer Answer
Date: 04/18/2025

Complaint: 23138014

I am rejecting this response because: it should not take this long to close an account we are about 30 days in and still nothing the only thing thats happening is Im losing money with stocks because you guys restricted the account and wont close it instead you guys keep going back and forth pointing fingers just close the accounts already so I can get my money back Im pretty sure if it was the banks money it would have never taken this long

Sincerely,

**** *****
Business Response
Date: 04/25/2025
Please reference the attached letter.
Customer Answer
Date: 04/29/2025

Complaint: 23138014

I am rejecting this response because:
Once again cant get a straight forward answer now all of a sudden got to mail a response its been over a month its getting ridiculous
Sincerely,

**** *****
Initial Complaint
Date:03/29/2025
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 opened my SoFi application and found that my account was restricted. Unlike most of the time I call, the phone number they gave me allowed me to call at 1 am. The person that answered told me that my account was determined to be closed yesterday and that, after they close it, I have to wait thirty days to receive the check. The man was not giving me an estimate of when I should receive the check and was no empathetic nor kind. I told him that I have an ssdi, disability check coming abd he said that I will have to wait until it gets sent back to receive it then. He only told me it was because of the fraud charges I placed. I am not understanding how I have no access to my money. His can they take my money and decide when to give it back to me. I have no other funds available. This is inhumane. I am ready to commit suicide. How can a company do this? This is so unfair. The fraud charges were not something that I did. How are they allowed to do this?
Business Response
Date: 04/07/2025
Please reference the attached letter.
Initial Complaint
Date:03/28/2025
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 have been trying to open an account with ********************** for MONTHS. They will not allow me to have an account. Every time I call I get a different answer. Last time I called they said I could have an account if I called someone else to fix it but wouldn't put me in touch with them. Today they said I've violated their terms and am banned. They will not tell me what the alleged violation is! I am now concerned about fraudulent activity and they are refusing to assist me!
Business Response
Date: 04/07/2025
Please reference attached letter
Initial Complaint
Date:03/28/2025
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 have attempted to transfer my SoFi Invest account twice, and both requests were wrongfully denied despite following SoFis explicit instructions.1.First Transfer Attempt: I was told I needed to wait for my funds to settle and that the transfer would proceed once my buying power converted to withdrawable cash.2.Second Attempt (After Settlement): My funds were fully available as withdrawable cash, yet SoFi denied the transfer again, without cause.I contacted SoFi support via live chat. The representative, *******, was non-responsive and evasive, replying with vague fragments like working on it and are you there? repeatedly. This interaction did not resolve the issue and only increased my frustration.When I finally received a complete answer, I was told that my Invest account only had $45 in it and that the transfer fee was $75$100. However, I had more than enough money in my SoFi Checking account to cover this. Despite both accounts being within *********************** ecosystem, I was told the fee could only be deducted from the Invest account itselfa completely arbitrary constraint designed to add friction and create yet another barrier for customers attempting to leave the platform.When I tried to move the money, I received the message: "Oops, we're unable to process your request."Furthermore, I was informed that the root issue was SoFis refusal to support full transfers involving fractional sharesdespite having no issue accepting fractional shares when I transferred assets into SoFi Invest. This is a deliberate and asymmetric policy that creates one-way friction: easy in, difficult ****** other brokerage Ive dealt withincluding Robinhood, the intended recipient of the transferhas imposed such burdens. These practices are clearly anti-competitive and anti-consumer, designed to lock in AUM for internal reporting and shareholder benefit rather than serve customer interests.I expect immediate approval of this account transfer.
Business Response
Date: 04/07/2025
Please reference the attached letter.

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