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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Complaints

This profile includes complaints for SoFi's headquarters and its corporate-owned locations. To view all corporate locations, see

Customer Complaints Summary

2,319 total complaints in the last 3 years.
778 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:02/03/2023
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 January 1st I began receiving thousands of emails which I found out meant that one of my accounts was probably being hacked. Sure enough when I got home from work, there was an unauthorized transfer of $5,000 from my cheese checking account to my SoFi account. I contacted my bank and they refused to stop the charge from going through even though it was still pending and I did not authorize it. There was absolutely no way to contact a live person at SoFi. The live chat is just a bot That tells you to call a number that just has another bot that says the same message over and over again before hanging up on you. I felt I had no choice but to close my sofi account hoping that the transfer would not go through, but apparently it did go through, and the $5,000 has not been returned to my Chase account, and I have not heard from SoFi. ***** is now making me go through an "investigation" to determine whether I should get my own money back from a transfer I never authorized. I need sofi to return my $5,000 immediately.
Business Response
Date: 02/09/2023
Please see the attached document.
Initial Complaint
Date:02/03/2023
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 dispute began with a "premature" annual escrow analysis in November "21 property taxed paid in December of the year, and the additional "annual" escrow analysis in January '22 based on projections not history. My first letter of June 6, 2022, outlining the discourse and problems that followed and notifying Sofi that the escrow services were terminated, also copied to the ********* **** of ********* Institutions. The Sofi reply of June 30, and the State's reply are enclosed.At the same time I received 2 more letters from Sofi, one 6/29 the lie, the other 6/30 continuing flood ins. in escrow.My reply of July 19 thanking them for seemingly waiving my escrow account and pointing out the 6/29 letter was a lie in so many words.Sofi's reply of Sept 8 asking me to disregard the lie and explaining their billing procedure as a means of ignoring my previous request for paper statements be mailed to me monthly. My reply of Oct 21.Their reply of Nov 18 which wasn't received until mid December outlining the handling of escrow funds after my May payments of flood and home insurance which was never in question. The shortages in my account. defending the lie by attaching the two letters that were the lie and several pages of meaningless transactions defending their billing procedures again. (in December I received my first paper statement)I have talked with a personal friend who is an attorney trying to find out if I was going crazy. He pointed out:1. R.E.S.P.A. overrides state standards and are based on historical not projected data 2. The handling of my funds based on the request and the reply in writing could be construed as a fraud.3. In their June 30 letter they "submitted a request" to waive my escrow account. It gives the impression they have but legally haven't. But highly implied they would based on the explanation that followed,Because of all the above I drafted the letter of this date mailed to Sofi and included in this complaint.I
Business Response
Date: 02/10/2023
Please reference the attached document.
Customer Answer
Date: 02/27/2023

Complaint: 19327194

I am rejecting this response because: One of the letters in their response package (if it is the same as the package they sent to me with the release of information) is a ********************. It did not exist in July of 2022. It has been created in another flawed and stupid attempt to try cover themselves in their letter of June 29, 2022 which was their first COMPLETE LIE. In the letter they stupidly said I called them on June 16, 2022. I have call records to prove they lie.
Their argument about the federal requirements to maintain flood insurance is NOT in question. They need to accept they will not be the ones paying it. I will as I did in ****************************************** May 2022.
My letter of Feb. 10, 2023 outlines the facts.

Sincerely,

***********************
Business Response
Date: 03/08/2023
Please see the attached document.
Customer Answer
Date: 03/14/2023

Complaint: 19327194

I am rejecting this response because: It wasn't a response to my complaint. It was a notice they have not received the release of information that was signed and MAILED to the their ********** P.O box on 2/27/23 the same day I emailed my last response to you that included the release and a copy of a letter sent to me in their first BBB reply 2 weeks ago dated 7/11/22 that is a complete fraud. It did not exist in any 2022 communications. It exists now a a feeble attempt to substantiate their letter of 6/29/22 that was the complete LIE this is not the first time they've tried to defend a lie with another lie!

I will resend that release to today.

Sincerely,

***********************
Business Response
Date: 04/03/2023
Please see the attached document.
Customer Answer
Date: 04/06/2023

Complaint: 19327194

I am rejecting this response because: I have sent a signed disclosure form to their PO Box twice now over the past several weeks. The fact they continue to say they don't have it ****** loudly about unorganized nature of the company that wants to handle more of my money! Yesterday I tracked down their executive resolution specialist, ***********************. She reluctantly gave ma a FAX number to send another form in. That was done yesterday. Before any final review of this complaint is performed I would like a opportunity to respond to the material presented because of the twisted way they apply federal regulations and the fabricated letters and lies to defend their actions.

Sincerely,

***********************
Initial Complaint
Date:02/01/2023
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 received a text message that someone wanted to get into sofi account. I tired to get into account and I had to change password to get in. Someone got into my app and took ******. So fi denied my dispute and gave no reason. I also tried to change my **** deposits into sofi but sofi didn't give me full account. I have 90 dollars into account that I made from **** and they are not giving me my money. They literally are stealing my money and violating banking regulations
Business Response
Date: 02/08/2023
Please see the attached document. Thank you.

Customer Answer
Date: 02/10/2023

Complaint: 18965455

I am rejecting this response because: first sofi never gave me paper to sign. secondly, they are not following banking regulations, they still act like a neo bank.
2/10/23, they denied my claim
. so i want my monery back
Sincerely,

*********************
Business Response
Date: 02/22/2023
Please reference the attached document.
Initial Complaint
Date:02/01/2023
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.
Today
Business Response
Date: 02/04/2023
February 04,2023

Better Business Bureau
1805 *****************************, Suite 100
******, ** 78754

Re: BBB ********************** Wolfram

To whom it may concern:

We are in receipt of your letter received February 01, 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.
Initial Complaint
Date:01/31/2023
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.
Company guaranteed a 3% cash back level for the first year of using their credit card-there is LITERALLY NO WAY to contact them and find out why they have frozen my credit card for no good reason!
Business Response
Date: 02/06/2023
Please see the attached document.
Customer Answer
Date: 02/06/2023

Complaint: 18962297

I am rejecting this response because:
SoFi was supposed to contact me weeks ago regarding this matter, and I do not anticipate them doing so now. A generic form letter is no improvement. If something DIFFERENT occurs, I will let you know.

Sincerely,

*********************
Business Response
Date: 02/13/2023
Please reference the attached document.
Customer Answer
Date: 02/15/2023
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:01/30/2023
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 had created a new joint savings and checking account for myself and my grandmother, whom I am taking care of on 1/26/23. Everything was fine and I was able to make a deposit of $5000 into the account. The next day they had frozen the account for possible fraudulent activity saying that they needed to verify my grandmothers identity and who she is. Through various phone calls we had attempted to fix this issue but they were not able to help resolve the issue because their identity verification technology was not able to verify my grandmothers identity. They will not speak to me because she is the primary. She is not competent in mind due to dementia so she can not properly answer their questions. Every time I call i get the same individual named ***** who says I can only call once a day to verify but it fails every time. I ask to speak to a supervisor to further assist me but they just say they done have one. I ask what they can do for me to help fix this and they said nothing, we just need to call back again the next day and try again. I tell them that their customer service is horrible and they said they are not there for customer service. This is terrible service, at this point I just want to close the accounts for us get our money back and go somewhere else.
Business Response
Date: 02/07/2023
Please reference the attached document.
Initial Complaint
Date:01/30/2023
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.
My Sofi checking and savings account has been frozen for 5 days and I have not been given a reason it is frozen, nor a timeframe it will take for my accounts to be unfrozen. I have been told the same scripture everyday I call to check the status which is my account is under investigation and they will get back with me as soon as they are done. They won't give any sort of timeline or give any details beyond that statement. I deposited 250 cash in my account the day they froze the account and I am not even able to access the cash deposit from my account. The money in my account is all the money I have at the moment and its completely tied up. I have kids I have to feed and we have no food nor money to get food. This is an emergency that needs handled promptly, but they don't seem to care much about getting to any sort of resolution or providing information why it cant be resolved. Please assist in getting my account unfrozen or at least partially unfrozen for the cash deposit of 250.
Business Response
Date: 02/05/2023
Please see the attached document.
Initial Complaint
Date:01/29/2023
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 January 2023 a 19000 loan fraudulently obtained in my name from sofi Bank appeared on my credit report...I contacted them to report it and because of their sloppy and unprofessional loan approval process they are now forcing me to straighten this out on my own...they have made veiled threats implying that if I don't jump through hoops for them in the proper time frame I will be held accountable for this loan I never applied for...I through no fault of my own am being victimized by whomever they gave the loan to and sofi because of their sloppy lending practices
Business Response
Date: 02/04/2023
Please see attached.
Initial Complaint
Date:01/28/2023
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.
Hello so my account is frozen and I called the number and I just keep getting sent to voicemail it says I will get a call back I havent gotten one and its been a week and Im disappointed in their services I have never had an issue this bad before
Business Response
Date: 02/03/2023
Please see attached
Initial Complaint
Date:01/27/2023
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.
Opened a credit card and after 6 months had some fraud charges. Sent in a fraud claim 12/20 ish. They cancelled the card and send me a new one which i didnt receive for 3 weeks. I locked my account in the mean time. They reversed the fraud charges so i had a neg balance which i requested back while i wait for the outcome. Called a few times to get it sorted out. When i finally received my card i went to unlock it,but had to call a specialist *****. She was very rude and basically accused me of wrong doing. Then the next day she reversed all the charges with no explanations or calls. Terrible service. Very poor communication.
Business Response
Date: 02/03/2023
Please reference the attached document.

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SoFi is NOT a BBB Accredited Business.