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.

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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

2,312 total complaints in the last 3 years.
767 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:03/31/2023
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, a financial services and lending company, who's website is Sofi.com, and who's address is ******************************************************, provided me a number of $100,000 loan pre-approval offers of various interest rates and various repayment periods. I selected an offer, but after I submit my final confirmations, they immediately notified me: "Your request for loan was carefully considered, and we regret that we are unable to approve your application at this time, for the following reason(s): Does not offer credit on the terms requested"How can this be, I was just offered loans on terms that they presented to me and I selected one of those options presented? So now, my credit has been pulled, it will show that I have been denied, and my credit score will be impacted. My importantly, my business associates, who are friends of mine, and their employees will also be adversely affected by not receiving this money in a timely manner. My credit is sound and I could have obtained this loan from another vendor, but now because of the credit pull, I will have to wait another two weeks.I spoke will SOFI customer service today and the representative explained that SOFI only provides loans up to $100,000 and because I already had an existing loan of $65,000, only $45,000 would be available. If this is truly the case, then why offer me $100,000 when they should already know what's in my account. Alas, I cannot trust them to do what they say they will do, nor will $45,000 suffice.
Business Response
Date: 04/05/2023
Please reference the attached document.
Initial Complaint
Date:03/30/2023
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 a loan with this company in *******, and I am unable to talk to someone from ******* about it. I have called repeatedly, and continued to receive an off-shore "agent" who will not let me speak to a person in ******* about my American loan. It is unreasonable and unethical. I demand a call back and reasons why I am unable to call someone in my own country about a loan and contract I signed in *******. It is incredibly offensive, and I demand an explanation.
Business Response
Date: 04/06/2023
Please see the attached document.
Customer Answer
Date: 04/07/2023

Complaint: 19877533

I am rejecting this response because:

There is no response. Every document is blank and has no words.

Sincerely,

***********************
Business Response
Date: 04/20/2023
Please see the attached document.
Initial Complaint
Date:03/30/2023
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 recently ran a promotion partnering with the life insurance company "Ladder". The deal was, sign up for ************** and earn 10k ($100) rewards points. I read through the rules in the email, and everything sounded good. I proceeded to sign up and make my payment. After not being credited, I contacted support and at first I was told because the program only applied to customers who have a Sofi Invest account. I told the agent this was not in the email terms to which they asked for a screenshot.After reviewing the screenshot I was then told it was denied because I didn't make the payment via a Sofi direct debit or debit card, again I told the agent that this was not in the rules stated and they said it was in the "Full terms" (not in the email). Sofi has a discreet list of rules in the promotional email they send you which leads you to believe if you follow those, then you've met ALL the qualifications. However, to deny customers who they know 99.9%won't go out of their way to find additional possible rules in the official terms and conditions has a convenient and hidden "out" to deny customers payment if they desire to do so. If Sofi has a list of rules that must be followed to qualify they should list ALL of the rules in the email or none of the rules in the email and direct the user to the full terms and conditions. Sofi needs to honor this deal and not hide behind a weird clause buried in some obscure link that even their own agents have to search for taking no less than ***** for them to find. This is only one of 15 promotions SoFi has found a way to slither out of, I believe they are set up to win by attrition in direct violation of the spirit of both state and federal sweepstakes law. In total I have not been paid for 12 separate $50 referral bonuses and now the current ladder promo totaling $100. Any assistance would be appreciated.
Business Response
Date: 04/07/2023
Please reference the attached document.
Initial Complaint
Date:03/30/2023
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.
I opened a bank account with sofi in August and set up direct deposit from the VA as I am a disabled vet. I've had someone transfer $1700 and $140 and this recent one of $2250 transfered to 3 different accounts. The phone number changed in my account. I report it to their customer service and they do little to nothing about it. I haven't received a call back or anything. They could see where the money's going or too who but instead they blame me and think I'd transfer 4k to random ppl. I've filed police reports for identity theft but these ppl don't care. They say that there is "no error" I wanna press charges against this person and they could careless bc it isn't happening to them.
Business Response
Date: 04/09/2023
Please see attached.
Initial Complaint
Date:03/30/2023
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.
Early February 2023, I contacted SOFI and asked for and received a hardship forbearance on my personal loan. At that time the representative I spoke to initially told me NOT to pay the payment that was due on 2/6/2023. He told me I could make it up over time or it could be tacked onto the end of the loan. Once I entered into the hardship agreement, I was asked to make an interest only payment which I did on 2/10/2023 which was to be taken out of my checking account on 3/6/2023 (next payment due date). When signing onto my account in early March, I noticed that I had a past due amount of $871 which was my monthly payment for February. On 3/13/2023, in order to keep my account current, I made that payment. As of 03/13/2023, my account with SOFI SHOULD have been current. On March 28, 2023, I received an email stating I was 28 days past due and had a past due amount of $383.73 (interest only payment). When signing onto my SOFI account, I noticed my next payment due date was NOT 4/6/2023, which it should have been but 5/6/2023. I called SOFI on 3/29/2023 and spoke to a representative who told me that they had taken the $871 payment and split it, paying part of it to the past due amount and the rest to the April 6 payment. I did not authorize SOFI to handle that payment in that manner and the payment made on 3/13/2023 was made to resolve any past due amount. I asked to speak to a manager at that time and was told they would have to call me back in ***** hours. I asked to have someone to get back to me by end of business 3/29/2023 since they would be reporting this to the credit bureaus before ***** hours. After confirming my phone number, the representative just hung up on me even though I was not finished discussing my issue with him. I did not receive a call from SOFI. I would like my account to be marked current, the next due date changed to 4/6/2023 and any report made to credit agencies to be corrected.
Business Response
Date: 04/09/2023
Please see attached.
Initial Complaint
Date:03/30/2023
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.
Cashing a third party check they've frozen my account and won't answer my calls I have given the information they're asking from me and it's not being able to access my money for doctors appointments that is deeply upsetting
Business Response
Date: 04/05/2023
Please see the attached document.
Initial Complaint
Date:03/30/2023
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.
Hello I have been a SoFi customer for some time now. I have loved the company and how it had helped me. Recently my account ending in **** was closed. Im not sure why. I didnt do anything wrong. If I did inadvertently I apologize sincerely. But could you please reactivate my account or let me open another one please? I really need to use it to feed my family and to live. I have no other company Id rather use so please give me another chance. Thank you.I have money thats coming to this closed account in the next month so i need it open so i can get my funds.
Business Response
Date: 04/05/2023
Please see attached.
Customer Answer
Date: 04/06/2023

Complaint: 19876278

I am rejecting this response because:

I have not gotten any email from them and my account has no been re-opened nor do I have the ability to make a new one.
Sincerely,

Nuwrly **********
Business Response
Date: 04/20/2023
Please see the attached document.
Customer Answer
Date: 04/21/2023
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:03/29/2023
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.
In January of 2022 I noticed a fraudulent charge on my SOFI Credit Card.It was from Auto ************* in ******* for the amount of $699... at that point I have never been to ******* nor have I purchased anything online from this company.Right after I noticed the charge I called the SOFI credit Card help line and reported the fraudulent charge ... during 2022 I called 5-6 times just to be told the claim is still under review at the end of each call I was told a SOFI representative would call me back with in 10 days which has never happened.In the mean time I have been paying interest charges on that $699 with no resolution in sight.The last time I called was in February of *********************************************** back...I am very frustrated and would appreciate and help to get this ongoing issue resolved.*******,***************************
Business Response
Date: 04/08/2023
Please see the attached document. Thank you.
Initial Complaint
Date:03/28/2023
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've done business with Sofi previously and applied for another loan. I received a phone call from ***** today Mar 28 2023 telling me I was approved and money would go in my account within 2-3 days as usual. I went online to sign the documents. I called to cancel within 2hrs and was told by ********* they already funded it and depositing in my account tomorrow. She had put me on hold a few times and ny feelings are that she rushed this deposit so they could charge me interest. I asked her what the interest will be and she said between $8-$10. I told her this is absurd because it's always taken 2-3 days to deposit funds and I feel she put a rush on it to deposit it tomorrow. ****** shows as long as funds haven't hit my account they can't charge me interest. I'm demanding they not charge me interest as I cancelled within 2hrs and told her I'm a senior citizen. PLEASE HELP as I feel cancelling within 2hrs and funds not being deposited in 2hrs warrants no interest. Many Thanks.
Business Response
Date: 04/03/2023
Please see the attached document.
Customer Answer
Date: 04/05/2023

Complaint: 19865462

I am rejecting this response because:
SoFi only sent me message that I paid back loan in full which I did upon them depositing it in my account. My issue is that they charged me interest on the loan after I cancelled it in 2hrs. The funds were not deposited until the next day.
Sincerely,

*****************************
Business Response
Date: 04/07/2023
Please reference the attached document.
Customer Answer
Date: 04/19/2023

Complaint: 19865462

I am rejecting this response because: I sent them back signed forms to release information. They sent me overnight letter they will not write off interest charge even though funds weren't deposited until next day. I called them reminding them they spent more money on overnights than they could have refunded my interest for less money. No wonder banks are losing money.

Sincerely,

*****************************
Initial Complaint
Date:03/28/2023
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 filed a dispute today on March 28, 2023 for NATIONWIDE transaction because they weren't going to give me my money back and I reach out to SOFI to get assistance. It haven't been 24 hours yet and they already denied my claim???! What bank does that and that is a violation of Reg E guidelines. I need a official to call me to disguise my options. My money is not safe in this institution to deny claim in the span of couple hours.
Business Response
Date: 04/07/2023
Please see the attached document. Thank you.
Customer Answer
Date: 04/10/2023

Complaint: 19864932

I am rejecting this response because:
they are not willing to help me, and they just close my dispute , and they still are on the line of regulation E

Sincerely,

*******************
Business Response
Date: 04/25/2023
Please see attached.

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SoFi is NOT a BBB Accredited Business.