Business Profile

Loans

SoFi

This business is NOT BBB Accredited.

Find BBB Accredited Businesses in Loans.

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

2,313 total complaints in the last 3 years.
771 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:01/27/2023
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 the morning of January 19th 2023 I had went to a near by gas station paid with the debit card provided by the Sofi bank and went to work. I got to work heard my phone give a gingle to let me know that a text came through. I then looked at my phone reading that I made a payment/transfer to a ********************* through my account. Which I don't even know who this person is. I went to my on line access to my account and realized that I had been hacked into my account and called Sofi right away. After 5 minutes of talking to the lady I hung up grab my stuff and went home cause I was extremely upset. I called the bank back twice after getting home and have called them every day since with no resolution. The one lady ****** had told me that I would have to wait for my money of the amount of $309.45 to be investigating before they can release my money which could take upto ***** days. I called on January 27 and spoke to a lady that told me when i asked for a supervisor or manager that she was the top of the line to talk to someone. I even ask for the person that is handling my case and she told me that that information isn't available. Alm I want is my money back and to clowe the account.
Business Response
Date: 02/02/2023
See attached
Initial Complaint
Date:01/25/2023
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 took a personal loan out and the disbursement was on 03/03/2022.Setup auto pay to not have to worry about forgetting to pay and take advantage of a ****% off my fixed APR%.04/05/2022 - 06/05/2022 was paid then because of my financial situation, would benefit me to move the due date to the 25th of the month. I called them and was told I cant do it over the phone and online was my only option. In doing so, was notified that I can only change the date once a year.Successfully changed the due date to 25th.With autopay set up, I get a notification of an upcoming payment due 06/25/2022 when 6/05/2022 was paid.Concerned that I have autopay setup, I couldnt afford to have autopay take out $1,200 twice in the same month so I called customer service to see what other options I had and was advised to take it off autopay then turn it back on after the 25th which honestly was my only option financially regardless what the representative advised.After 7/25/2022 was paid I was contacted by a SoFi representative trying to collect a missing payment. After explaining the situation, I was asked if I was aware if I changed the due date that I would have to make 2 monthly payments in the same month? I simply replied if I was, I wouldve never changed the date.Since July they have been constantly harassing me to pay them and it has made a significant impact with future payments because Im not on ************ Im not getting my promised APR% discount.Also impacted my credit score from a 740 to low 500s because they report delinquency to credit bureaus.I called recently to resolve but got no where besides pay them.Not only affecting me personally, its affecting me trying to start my new business which is why I took this loan out.I didnt know who can help me or what will help me because the stress of dealing with this situation for no reason for over 6 months while trying to start a business with a full time job with a wife and kids you cant put a price on.
Business Response
Date: 02/02/2023
Please see the attached document.
Initial Complaint
Date:01/25/2023
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.
Hi my account has been frozen, I was not notified. I have just signed up for sofi. Only made about 3 or 4 transactions. All legal, there is no proof of illegal activity. My account is not overdrawn(negative) and I do not owe SoFi any money. I was told on a recorded line that my account would be unfrozen by 10am today. I need steps on unfreezing my account or give me a way to close my account so I can get all of my funds sent to me in a check. I tried to verify through multiple links, multiple phone numbers, as well as multiple phones. l tried several times over and over that didn't work and I was told to keep trying or even use a stranger, a friend, or someone elses phone which i declined because I do have a right to my own privacy and didn't want to risk my private identification being on someone else's device. I can't believe a SoFi reps. even suggest that. I am being told by reps. on a recorded line that this is the only way to verify my info. through a link sent to my phone. All of my info. verification card &documents are up-to-date. Multiple eligible ways to verify my account and identity, given that I do have proof. This is illegal to just hold my money and not give me any options other than a text message link to send in and verify my documents, which is the exact same information I have on file that I was required to provide to sign up for the accounts in the first place. SoFi has all of my legal information on file so asking for verification is very suspicious. It is also illegal to not provide me any information on what is really going on with my money. I was told that I can't close my account or lift the restriction off of my account until I verify which means SoFi can steal and get away with it. Signing up with this so called bank company was a major mistake and nightmare! Consumers and businesses beware avoid any SoFi banks, services and or products at all cost. They have no regard for us at all, we the people! I have listed proof and evidence!
Business Response
Date: 02/02/2023
Please see the attached document.
Initial Complaint
Date:01/25/2023
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 1/23/23, I received an alert that a hard credit inquiry was placed on my credit report from SoFi. I immediately called to inform that I had not applied for anything from SoFi. I was assured an investigation would take place and the account was "flagged". I was given a phone number for the fraud department which went to leave a message. I did leave my name and number. I was told I would hear from the fraud department later that day or the next. I have not received any calls.1/25/23, I received a text message to call Sofi: "We need a bit more info to complete your SoFi Personal Loan. Please log in to SoFi.com/b/ to see what is needed or call ********, Reply STOP to opt-out."I called the number and was told this is an automated text. I asked for a reference number or any information on what was being investigated on and was told for security reasons they could not tell me. I was given a different number for the fraud department and again all agents are busy leave your name and number. Which I did.Thank you
Business Response
Date: 01/30/2023
Please reference the attached document.
Customer Answer
Date: 01/30/2023

Complaint: 18899011

I am rejecting this response because:
An accept/do not accept was requested within 5 days
The matter was not addressed in the response.
I have not received the response letter in the mail yet and do not know what is being done by SoFi.
Please leave this case open until I know what is contained in the letter they are sending.

Sincerely,

*********************************
Business Response
Date: 02/02/2023
Please see the attached document.
Customer Answer
Date: 02/02/2023

Complaint: 18899011

I am rejecting this response because: I still have not received the correspondence referred to in the response from SoFi

Sincerely,

*********************************
Initial Complaint
Date:01/23/2023
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 signed up for a bank account based on a promotion that if my employer did a direct deposit of $5000 or more I would earn a bonus of $300. This was done however Sofi basically said that because I am a small business and did not use a big payroll company like ADP they will not count it.
Business Response
Date: 01/26/2023
Please see the attached document.
Customer Answer
Date: 03/10/2023

Complaint: 18885098

I am rejecting this response because:
The transaction that Sofi looked into was one that I had already agreed did not contain my company name and so it would be hard for them to know that it came from my company. I ask them to look into another transaction which they received within the promotion time frame and which did contain my company name within the payment details. The account manager first said they can't do so until I sign and return the response letter. So I signed and returned the letter and have now called back and a different account manager said that the decision was final and that I do not qualify for the bonus even thought I have repeated over and over that their decision was based on the wrong transaction.

Sincerely,

********************
Business Response
Date: 03/18/2023
Please see the attached document. Thank you.
Customer Answer
Date: 03/20/2023
Complaint: 18885098

I am rejecting this response because:
I've already signed the disclosure form which I was told would open up a dialog however when I called in they said their decision (which was made on the wrong transaction) was final.

Sincerely,

********************
Initial Complaint
Date:01/23/2023
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.
During Sept 2022 SOFI Bank ran what turned out to be a bait and switch scam. They offered a reward if you increase your deposited money by at least $5000. I ended Sept with over %***** dollars and kept that amount into December as the promotion required. As you can see from the Q&A they had on their promotion back in Sept 2022, it clearly states that as long as you add $5000 the money you had in the account will count toward the bonus. After the promotion ended they changed the wording to say only new money counts and hence the attempted bait and switch. $***** at the end of Sept 2022 equals to $500 dollar bonus not the measly $100 they added to my account. I have attempted to contact the *** thru the website on at least 3 occasions and 2 phone calls and all I get is a form letter informing me of the changed rules after the fact. one of them on the phone told me " ya we attempted to fix that answer on the Q&A many times". Crooks.
Business Response
Date: 01/27/2023
Please see the attached document.
Customer Answer
Date: 02/01/2023

Complaint: 18881486

I am rejecting this response because: They just lied again. they did not send me any response. As you can see from my complaint you have indisputable evidence that they owe me the money and that they tried to change the rules after the fact. please help me and others withj this crooked bait and switch scam from this wanna be bank.

Sincerely,

*************************
Business Response
Date: 02/08/2023
Please see the attached document. Thank you.

Customer Answer
Date: 02/09/2023

Complaint: 18881486

I am rejecting this response because:
This business keeps sending the same response, they refuse to address the screen shot that I provided in my complaint. In the screen shot you can seen BEYOND THE SHADOW OF A DOUBT, that under q&a they show an example of how many points I will get and in the example the money that was already in the account counts toward the points. In the example it says if you have $20000 and you add $10000 you will earn ***** points equal to $250, clearly that shows that the money already in the account counts toward the prize. At some point After the screen shot dated sept 22nd they decided to change the rules, and that is what you call a classic bait and switch scam.

Sincerely,

*************************
Initial Complaint
Date:01/20/2023
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.
I began banking with SoFi money only about 3months ago. I ended up being scammed and my account was hacked and overdrawn. I then made my account positive with my own funds and have been waiting now over 2months for my account to either be closed and my money to be sent to my external account or mailed. I have been hung up on multiple times by multiple SoFi employees from customer service and many other departments within SoFi. I have asked how long this may take and when I would expect to see my funds and no one has any answer and they hung up on me and said there was no one else I could speak to to get any answers and I just have to wait. I have now been waiting for a very long time and I would like my check to be expedited and an apology for the rude staff. I feel embarrassed to ever have done business with them and I would never do business with them again.
Business Response
Date: 01/26/2023
January 23, 2023

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

Re: BBB Case # ********: *******************************;

To whom it may concern:

We are in receipt of your letter received January 20, 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:01/19/2023
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 Sofi, which I took out last year to fix the house that I recently purchased. I always made payments on time until recently, when I was diagnosed with Cancer. I fell behind on my bills due to taking time off work, going through tests, and now starting treatment. These 60 day past due marks have caused my credit to drop over 100 points.I have since got ALL my accounts current. I have done everything in my power to take care of all bills, and will remain current on the bills. I reached out to Sofi see if as a one time courtesy due to these extreme circumstances, if they could remove the marks off my credit report. Unfortunately, the answer was no. I am potentially dying, and still found a way to get my accounts current and bills paid on time. I am writing this in hopes this will get seen by the right teams at lending club and help get these items removed in case I'm fortunate enough to make it through this -- I can't afford to come out of this in medical debt and poor credit. Please, have a heart and help me out! PS, please keep my medical records discreet as not even my family knows yet.
Business Response
Date: 01/27/2023
Please see attached.
Customer Answer
Date: 01/31/2023

Complaint: 18838962

I am rejecting this response because: I have been diagnosed with cancer. I don't believe that because of that I should be held hostage because of a 60 days past due markon my credit report. It's unfair.

Sincerely,

*************************
Business Response
Date: 02/07/2023
See the attached document.
Initial Complaint
Date:01/18/2023
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.
They do not honor their user agreement and seem to make up thr rules as they go. I received my monthly credit card statement on 01/04/2023. I paid the balance in full on 01/072023. Sofi electronically took the payment from my account on 01/10/2023. I called on 01/12/2023 to inquire as to why my payment was not credited to my account yet. I was told they put a 10 day hold on my payment and even though they took the money from my account it could still default? I was told it was in the user agreement. I read and found it could take 3 to 7 days. This is the second occurrence in the two years I've had this card. The first time they acknowledged the error and corrected it. This time I was told it is what it is basically. It is 01/18/2023 and they still have not credited my payment of ***** dollars and change. I've never been late or missed a payment. I usually pay my balance is full. Been a member since 2017 with multiple accounts. My card was issued before it was offered to the general public. I still have the recorded phone call when I called Sofi to address my concern. My wife just had a negative experience with Sofi cc also do to their error and was told try again in 30 days. I think it's time we look to move on. While writing this complaint I went to pull the user agreement to upload and they finally credited my payment from 01/07/2023.
Business Response
Date: 01/26/2023
Please see the attached document. Thank you.
Customer Answer
Date: 01/29/2023
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.

Sincerely,

***********************
Initial Complaint
Date:01/17/2023
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.
It appears that there is an error in the SoFi system for a duplicate hard inquiry pull that has appeared on my credit report today. I am requesting that they launch an investigation and remove the additional credit inquiry that was not authorized by me. I did not authorize a hard inquiry from SOFI BANK NA on 1/17/2023 this appears to be a duplicate inquiry as I applied on 12/5/2022 in which was denied due to being on maternity leave. I would not reapply with being denied the month before. I am asking that they submit a letter to all credit bureaus stating that this was an error and this duplicate request be removed. As this is what shows on my report at this time:SOFI BANK NA recently checked your Experian credit file for an installment loan or new bank account. When you apply for certain types of credit, a hard inquiry is placed on your credit file and stays on your report for about 2 years.I take my credit very seriously and do not wish to have it negatively impacted. I am requesting a copy of the letter mailed to the credit bureau as well as this be removed immediately. I called SoFi today and was advised Id get a call back today but never heard from them.
Business Response
Date: 01/25/2023
Please see the attached document.
Customer Answer
Date: 01/25/2023

Complaint: 18829374

I am rejecting this response because: no resolution has been made and this **** is still on my credit although SoFi has said over the phone that they only have one inquiry from December and nothing from January therefore I need this removed asap.

Sincerely,

*************************
Business Response
Date: 02/07/2023
Please see the attached document. Thank you.
Customer Answer
Date: 02/14/2023

Complaint: 18829374

I am rejecting this response because: although I have received a letter there is still no removal made of said inquiry. Sadly, they knew this was fraudulent and still left it on my credit. They would not have removed this if I had not said anything. Based on the information I received from SoFi they knew immediately that this was fraudulent! Why wasnt this immediately removed and why wasnt their team addressed for not removing it! You are messing with folks livelihood and its disturbing to say the least!

Sincerely,

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

BBB Business Profiles may not be reproduced for sales or promotional purposes.

BBB Business Profiles are provided solely to assist you in exercising your own best judgment. BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. However, BBB does not verify the accuracy of information provided by third parties, and does not guarantee the accuracy of any information in Business Profiles.

When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints.

BBB Business Profiles generally cover a three-year reporting period, except for customer reviews. Customer reviews posted prior to July 5, 2024, will no longer be published when they reach three years from their submission date. Customer reviews posted on/after July 5, 2024, will be published indefinitely unless otherwise voluntarily retracted by the user who submitted the content, or BBB no longer believes the review is authentic. BBB Business Profiles are subject to change at any time. If you choose to do business with this company, please let them know that you checked their record with BBB.

As a matter of policy, BBB does not endorse any product, service or business. Businesses are under no obligation to seek BBB accreditation, and some businesses are not accredited because they have not sought BBB accreditation. BBB charges a fee for BBB Accreditation. This fee supports BBB's efforts to fulfill its mission of advancing marketplace trust.

Cookies on BBB.org

Important information

Complaints

Customer Complaints Summary

If you've experienced an issue

Filter and sort by

Sort by

Complaint status

Complaint type

Complaint statuses

Business Response

Complaint statuses

Business Response

Complaint statuses

Business Response

Complaint statuses

Business Response

Customer Answer

Business Response

Customer Answer

Complaint statuses

Business Response

Customer Answer

Business Response

Customer Answer

Complaint statuses

Business Response

Customer Answer

Business Response

Customer Answer

Complaint statuses

Business Response

Complaint statuses

Business Response

Customer Answer

Business Response

Complaint statuses

Business Response

Customer Answer

Complaint statuses

Business Response

Customer Answer

Business Response

Customer Answer

SoFi is NOT a BBB Accredited Business.