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

2,312 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:03/21/2023
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.
03/17/2023 I reported fraudulent charges on my account. The company shut down my debit card and said they would look into it. The did not offer any provisional credits while their investigation was going on. They sent my account into the negatives because they reviewed this. They turned my account into collections all because they would not issue a provisional credit while the review is taking place. What an awful way to do business..
Business Response
Date: 03/29/2023
Please see the attached document.
Initial Complaint
Date:03/21/2023
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.
There was a fraudulent credit card opened up in the name of *************************** through SoFi. We went to a fraud credit repair company and they repaired it but then SoFi re opened up the debt again and sold the debt and it's impossible to get any information to get. any customer service to get any help with the issue.
Business Response
Date: 03/27/2023
Please see the attached document.
Initial Complaint
Date:03/21/2023
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.
On Feb 23 I deposited a check into my checking account from FEMA for my roof @ $11,000. Since then, my account has been frozen and now its affecting my other accounts. ************** is going to put a lien on my house if I dont pay them their money. Furthermore, SOFI wont give me anything in writing to clear up my Robinhood account, which is restricted due to SOFI. I thought once the check cleared this would be resolved but its going on 30 days and all they tell me is the best thing you can do is wait. WAIT UNTIL I LOSE MY HOUSE??!! This is not ok. At least give me something in writing.
Business Response
Date: 03/28/2023
Please see the attached document.
Initial Complaint
Date:03/20/2023
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.
I received a ****-c from Sofi on 16 March 2023. It is canceling $20,000 of debt from a bank account that was fraudulently opened in my name and funded from my bank account. They have the accounts flagged and marked fraudulent, but still, sent a letter to the *** claiming they forgave me $20,000 of debt that wasn't mine. Now the *** is asking me to pay over $3,000 worth of taxes towards this ****-c due to them categorizing it as $20k worth of untaxed income. On top of this, my security clearance with the military is in jeopardy over this "debt". I have called and spoken to several employees in many different departments, and no one will give me an answer on canceling this letter to the *** and reconciling this situation. The run around on a situation as severe and time-sensitive as this is unacceptable. The lack of concrete answers or proof that "there is nothing wrong" is astonishing. I need an answer to this and a void of this tax form sent to not only myself but the ***. Give me someone to talk to other than customer service clerks who have no idea of the situation and will not transfer me elsewhere.
Business Response
Date: 03/30/2023
March 30, 2023

Better Business Bureau
*****************************************************************;
******, ** 78754

RE: BBB Case # ********; *************************

To whom it may concern:

We are in receipt of your letter received March 21, 2023 regarding the above referenced individual. We are reviewing the customers concerns and sending a response directly to the customer with a disclosure consent form. Upon receipt of the signed disclosure consent form from the consumer, we will forward a copy of the response to your office. Please do not hesitate to contact our office if you have additional questions or concerns.
Thank you,

Customer ***************************************** N.A.

Customer Answer
Date: 04/03/2023

Complaint: 19626759

I am rejecting this response because:
I still have received no contact from the company directly on this matter via mail, email, or telephone, as per their response. The phone number and email they have listed on the bank account that was fraudly made in my name, is not my own and they will have to use the contact means listed here on BBB.
Sincerely,

*************************
Business Response
Date: 04/07/2023
Please reference the attached document.
Customer Answer
Date: 04/23/2023
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,

***********************
Business Response
Date: 05/19/2023
Please see attached
Customer Answer
Date: 05/19/2023
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:03/20/2023
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 have a checking account with SoFi. On march the 7th I got a call saying that there were 2 flagged purchases at a ******* in ************** (I used to live there but I moved to CT in February) that were not made by me. So, I talked to the fraud team and they said that my account is frozen and being reviewed, however the next morning I woke up and ~$3,000 was missing from my account through 2 pay a friend transactions that I didnt make because my account was allegedly frozen. To this date (march 20th) my account is still frozen, Ive called SoFi every single day multiple times and havent even been able to receive an explanation or update or timeline or anything. Every time I ask for someone more senior I get the response of this is the last line of communication and cant get through. Its been almost 3 weeks since this has happened- my whole life is out on pause right before Im supposed to move into a new apartment. SoFi has also told me on numerous occasions that Ill be getting a call back soon, yet I NEVER have. On top of all this I asked them if there was some way that I could take out the remaining money I have in my account and transfer it to another so that I can at least access my money- I get the same answer of no every single time with no explanation. Im close to taking legal action and would like most of this information to be public because the treatment I have experienced is absurd to me.
Business Response
Date: 03/29/2023
Please see the attached document.
Customer Answer
Date: 03/29/2023
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.

As I do appreciate the response made by the business, Im still appalled at the level of costumer service and mistreatment I experienced from the bank. Not only that, but multiple fake SoFi bank numbers attempted to contact me about flagged transactions and fraud activity on my account during the investigation. Luckily I did not give up any information but nobody on SoFi actually reached out when they said they would, I was told multiple times to wait for a call back and yet never received one- it took me reaching out every day for almost a month! Even after the investigation was finished I had to call to get the hold removed, and every time I called I got a different answer from the customer service representative, with no help from any higher **** because there supposedly wasnt any. I have since then closed my account and will recommend to not bank with them even though they have some great aspects to their bank accounts.

Sincerely,

*************************
Initial Complaint
Date:03/20/2023
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.
On march 7th someone in *******, ****** used my card sp j&w handmade jewelry for ******. I spoke to the fraud department on the phone that day they said they would send a new card but it would take 2 months to remove the charge. That is what too long!!! I live in ******** that is nowhere near ******!!! I then got a call from Fiserv that left a voicemail. I looked up the number online and it was listed as a scam caller. Please just take the charge off my card!!
Business Response
Date: 03/22/2023
Please reference the attached document.
Initial Complaint
Date:03/19/2023
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.
On March 3, 2023 a Direct Deposit was processed to be deposited into my SoFi Bank, N.A. checking account. Normally, the expected deposit date was to be March 7, 2023. The amount of the deposit was $500 and it was from the insurance company I work for, ******************* Network. The funds have never showed up in my checking account to date. I double and triple checked that Transamerica had my correct banking information. I I provided SoFi Bank with my trace ID, as their customer service representative requested. When calling to notify them of the issue, and providing the trace ID, the ticket# provided to me by SoFi Bank was *******. I provided the trace ID again in response to an email to me from SoFi stating that they needed the trace ID. I actually emailed them back with that information on March 16, 2023 and again sent it today, March 19, 2023. My family is in desperate need of those funds and this has caused us to fall behind on bills and have left us with little money for food. SoFi claims that they never received any direct deposit for me from Transamerica. I believe they simply put the funds into someone else's account or just lost it.
Business Response
Date: 03/27/2023
Please see the attached document.
Customer Answer
Date: 03/28/2023

Complaint: 19620244

I am rejecting this response because:
I have never received a disclosure consent form, that I can find, from SoFi.
Sincerely,

***************************
Business Response
Date: 04/07/2023
Please see attached.
Customer Answer
Date: 04/18/2023

Complaint: 19620244

I am rejecting this response because:
Please see attached letter. While Transamerica paid me the $500, which I believe SoFi lost, feel I must reject their response because it feels very condescending. There were also multiple inaccurate statements in their letter to me. Since I do not trust SoFi at this point, I do not know if the lost $500 finally bounced back to Transamerica, almost a month after it should have posted into my SoFi account, or if Transamerica simply replaced the missing money. I am no longer a SoFi customer after this experience. More detail is in the attached letter to SoFi. I also attached the "consent to disclose" document.
Sincerely,

***************************
Business Response
Date: 04/26/2023
Please reference the attached document.
Initial Complaint
Date:03/18/2023
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 regards to ticket number *******. I have been in contact with Sofi Support since Feb 28th ****************************************************************** an account that was not mine. Their system failed to reject the deposit as it should. After a half month of waiting I was reached out to and asked for information I already provided on DAY 1! They didnt even have the dollar amount....Clearly they don't care about resolving my issue. I've emailed twice in the last week with no response. The requested manager call back took a whole week... I just want my hard earned money placed in my account and an apology for the lackluster service experience.
Business Response
Date: 03/26/2023
Please see the attached document.
Customer Answer
Date: 03/26/2023

Complaint: 19619936

I am rejecting this response because: I have not recieved the disclosure request.

Sincerely,

*****************************
Business Response
Date: 04/07/2023
Please see the attached document. Thank you.
Initial Complaint
Date:03/18/2023
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.
My So Fi Bank account was hacked on 03/14/23 and two outgoing $1000 transfers were made. I didn't even know my account had been hacked until when trying to access my account online I didn't receive the two factor code that was sent to my phone. I right away got nervous and called So Fi Bank and when they asked for the phone # associated with the account I gave them my number and they told me that number wasn't associated with any account. I knew then I had been hacked. The hacker had changed my phone number but I was never contacted by So Fi alerting me of changes being made to my account and asking me if I was the one making them. They are supposed to alert me of any changes to my account. If I had been I would of frozen my account immediately and no money would of been taken. They completed their investigation in less than 24 hours and emailed me saying I would not be reimbursed the $2000. They gave me no reason. They just said I could request the documentation they used to come to their decision. It is because of their negligence in not contacting me of changes to my account that I lost this money and I demand that money be reimbursed to my account. They are supposed to protect me against this. They have failed miserably. I'm 65, disabled, and on social security. I have a very fixed income and I can't afford losing this money. I have filed a police report.
Business Response
Date: 03/27/2023
Please reference the attached document.
Customer Answer
Date: 03/28/2023
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:03/18/2023
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.
I cashed two separate checks on 2 different days. The first check from ADP was approved and the funds were released then they were taken back and my account was froze. I have access to those funds as they were payed to me by my employer. I also cashed a check from my college. This check is still pending in my frozen account and I only have access to those funds for 2 weeks. I need this fixed immediately.
Business Response
Date: 03/24/2023
Please see attached.

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SoFi is NOT a BBB Accredited Business.