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
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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

2,313 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:01/17/2023
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.
The SoFi provided the opening credit card account bonus on the official website on Aug 24, 2022, which includes $200 after spending $1,500 in the first 3 months. I applied from the official SoFi website and got approval on Aug 24, 2022. I spent the required $1,500 for the bonus in October. Unlike what I experienced with other banks, SoFi did not give the bonus after the requirements completion, so I asked the representative by phone for the first time on Aug 31, 2022. The representative said I had to wait for the whole 3 months gone and another month to get the bonus, which I assume around the end of the 2022. I called the second time on Dec 27, 2022. The second representative said to raise the priority for the issue reference number ******* and should be resolved within 14 business days which I assume 3 weeks later. The second representative said I could use this reference number for the third call if not received. Today on Jan 17, 2023, three weeks after the second call, I called the third time and provided the reference number. The third representative said I had to wait for their response and there is no any guarantee time which sounds nothing reasonable after so much waiting time than any other bonus provided by any other bank. I could not even have a way to raise the seriousness of the issue and the representative has no attitude to resolve it in a good way. I had to complain on BBB and hopefully I can get enough help to get it resolved by receiving $200 bonus from Sofi in time.
Business Response
Date: 01/23/2023
Please see attachment
Initial Complaint
Date:01/17/2023
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 01/03/2023 Sofi took $100.00 from my checking account ACH debit./XXXXXXXXX4872/*********************** On 01/06/2023 ***************** attempted to retrieve the money and Sofi refused to return it stating I don't have an account with Sofi. The bank made a second attempt and Sofi again refused to return the money for the same reason previously stated. I called Sofi ************** I talked to three different levels of authority and was told by each level they would NOT return the money since I did not have an account. They were very rude during the conversation. I provided the information from the debit and explained that I have no idea who *********************** is or how they got my account number. If I don't have an account with ********************** why won't they return my money?
Business Response
Date: 01/23/2023
Please see the attached document.
Customer Answer
Date: 01/24/2023

Complaint: 18823947

I am rejecting this response because: It is too generic. I have no idea what information they are sending to me. Why would I accept this response when it is just a tactic used to say they settled. I will accept nothing less than the return of my money.

Sincerely,

*************************
Business Response
Date: 02/07/2023
Please see the attached document.
Initial Complaint
Date:01/16/2023
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 opened a checking and a savings account with SoFi, and I deposited $1,000.00. Five days later on November 16th, I logged into my SoFi online account using my personal laptop at home with the 2-step text verification. I checked my balance and logged off. 15 minutes later, I received an email stating that my pay a friend transfer was successful. All of the funds were stolen from my account, and both the checking and savings accounts were closed. I did not initiate the transfer to an unknown contact, and I did not request to have my accounts closed.15 minutes after I got the transfer email from SoFi, I received another email from SoFi that stated: We let you down today when people had issues accessing SoFi.com and the app Some of you have been asking if there was a cybersecurity threat here. The answer is simple no, your money is safe.I contacted SoFi security to inform them of the fraudulent activity, and I stated that I had not initiated the transfer or requested to have my accounts closed. SoFi opened an incident. I received a call 2 days later from SoFi, and after asking me several questions and putting me on a short hold, I was told that SoFi had determined that there was no error. When I asked SoFi for more information about their investigation and the emails I received about cybersecurity I was told that there was nothing they could do and the representative disconnected the call.I called SoFi multiple times and spoke with numerous representatives. I was told that they could not provide information to me since my accounts were closed, and they told me that if I wanted more information I should request a criminal subpoena report. I filed a police report and contacted SoFi, and SoFi said we are not required to speak with the officers handling your case.The document I provided SoFi on December 9th with the timeline and my official statement is the same one I am including in this BBB complaint.
Business Response
Date: 01/24/2023
Please see the attached document.
Business Response
Date: 04/20/2023
Please see attached
Customer Answer
Date: 04/25/2023

Complaint: 18723712

I am rejecting this response because:
SoFi did not provide BBB with a response for my file, but they did mail me a letter where they stated that there was "no account takeover". This is outrageous. I contacted all of my other banks and credit unions to explain this situation, and each one confirmed that I would not be liable for fraudulent charges / unauthorized transfers in a case like this. SoFi has been dodging me at every turn and refusing to answer even the most basic questions I have about this investigation they allegedly conducted. After dozens of phone calls and emails I was finally able to have someone with SoFi confirm that I will be required to file a subpoena in order to view the results of their investigation, and it is clear to me that SoFi's procedure in cases like this revolves around an intentional lack of communication in the hopes that the consumer gets exhausted dealing with customer services and / or does not have the financial means to secure legal representation to hold SoFi accountable.
I am coordinating with legal counsel for next steps in this case. I am confident that the courts will side with me, and I look forward to finally seeing the results of SoFi's "investigation".
Sincerely,

****** zur ****
Business Response
Date: 04/29/2023
Please see attached.
Initial Complaint
Date:01/15/2023
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'm mine blown to see that they are still in business. So back in August 2020 during the ******19 pandemic I had opened a SoFi bank account and was receiving my unemployment benefit deposits into the account. Without any warning, Right when me and my family needed it the most SOFI bank locks the account with a message " your account is frozen, we apologize for the inconvenience. We are monitoring your account for your protection. Please call us at ************ for more information. " After I finally reached who ever was handling the account. They tell me it's because i wrote a $93 check for a bill the day before I had my money in my account. It was an honest mistake because I didn't know bill payment worked that quickly in my experience. So I told them I that I want to close my account and take my money elsewhere. They said they I have to wait until there was nothing pending in the account.. After that conversation, weeks of calling turned into months, then turned into year's of them giving me the same runaround of them claiming they will write a email to the person handling my account, and to check my inbox for a response in **** business days. As of today 01-15-2023 they are still holding my unemployment benefit check
Business Response
Date: 01/24/2023
Please see attached.
Initial Complaint
Date:01/15/2023
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.
Sometime in late November I was notified by SoFi that my account was restricted and being closed due to suspicious activity. At the time I had funds located in an my SoFi investment account which I attempted to withdraw but wasnt able to do to the restrictions. Sofi informed me the account would be closed soon and they would send funds to the address on file. To date I have not received funds remaining in the account. I have made over 10 call to Sofi over the past 5 weeks and they have not provided a resolution. They continue to tell me that an email will be sent to the department that handles this issue. To date they continue to tell me the same thing and nothing has happened. No person from Sofi has ever tried to contact me regarding this issue. I would like for SoFi to reinstate my account immediately so that I can withdraw my funds to my external bank account. Or they can manually process the transfer on my behalf. Its been over 6 weeks this needs to be resolved asap!
Business Response
Date: 01/24/2023
Please see attached.
Initial Complaint
Date:01/14/2023
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.
the problem I'm facing is the company sofi refuses to refund me for a returned purchase from Amazon after the company closed my debit card and didn't want to continue business with me. I contacted so go more than 4 times because amazon told me bank did receive funds not returned to Amazon and bank suppose to write me check for ***** since January . unfortunately no associate in sofi has helped me only gave me more ***** and forth calling with Amazon and they tell me that issue is with bank retaining money and refusing send check as they told me in their ******** **** that sofi received refund not returned amazon and an amazon senior advisor told me tell sofi they have to write me check because it's a credit and even cards closed and banned form sofi since *** 14 2022. I haven't received good customer service from ********************** only back and forth calls and refusal to investigate to get my refund amazon senior advisor sent me message to prove that company sofi received money and they didn't return it. the account been closed closed since *** and unfortunately my return for iteam in Amazon never received refund because amazon wouldn't credit me in another card or gift card because they credited back to closed card that so fi close don *** 14 as I attached. I would like bbb to help me contact sofi to send me check refund because amazon has sent me 2 emails that abno received money and their ones need to send me refund check because the money never returned to Amazon and Amazon senior advisor showed me proof of process going through and how money sofi received and it wasn't sent back to Amazon or I was sent a check .instead sofi refuses to send check and make me call amazon.the problem isn't of Amazon but sofi for refusing to give me my refund . I would like a refund or company contact Amazon to help fix issue and give me refund check
Business Response
Date: 01/18/2023
January 18, 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 14, 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: 01/18/2023

Complaint: 18812138

I am rejecting this response because: hello, I have no received any form of signature to my email *************************** regarding dispute I would like this issue resolved since its almost 3 months in Feband began in December of not being able to get refund because card closed.

Sincerely,

***********************
Business Response
Date: 01/31/2023
Please see attached
Customer Answer
Date: 01/31/2023

Complaint: 18812138

I am rejecting this response because: I am very unsatisfied of resolution to my case because this issue began since December and as I mention prior SOFI refused to give me adequate information on my case with Amazon refund and instead closed my account. After dealing with calls and prior account issues and horrible customer service no information was ever given to me of account untill BBB stepped in to receive all this information I clouding paper *********************** claims overdraft on my account when my account had positive balance prior to them discontinue business with me not only that but then refusing to give me my complete Amazon refund via check and I never gave them permission to take money and a customer service associate of ********************** told me he would send me check because their was no issue my account and it is a coincidence untill BBB helped get all information customer service ********************** didn't give me that they keeping and deducting ***** and only sent me less than what amazon gave me and I'm entitled to my refund from Amazon of 35.26 and was only given *****. I would like company return to me and me seeking dispute them doing a charge off as excuse keep half my refund I didn't receive from amazon for this account when they closed it their was no balance and I would like company return the rest money to me as they already lost a client to their horir pe customer service and bank. I had called prior if their was issue and I was told none and I would receive check so like mention my statement I would like the rest my refund returned to me I don't give BBB permission to take refund money and they purposely closed my account and also gave me horrible phone support . I have only horrible experience with this company I would like bbb help me receive rest my missing refund as this company has already banned and remove dme from banking since DEC and 9nly had issues since then . the company sofi never gave me back refund and customer service horrible I had consult ******************** to get all this I fo cause sofi refused fix issue since I received mailing acct closed I like my rest of my refund back and dispute why is account being labeled charged off when it's already closed . I don't authorize sofi seek profits from me after already closing and discontinuing business

Sincerely,

***********************
Initial Complaint
Date:01/13/2023
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.
When I first chose to use this company for a loan, I was told but a representative that after 3 months of on time payments, I would be able to refinance the loan. I called after 6 months of payments requesting to refinance at which time I was told because I have a co-borrower that refinance was not an option. My mistake, I did not read the fine print, however this was the first piece of misinformation given. On Jan. 5, I was told that if I made a large payment the loan could be re-amortized. The payment was made, however there was not change to the monthly amount due. On Jan. 12, I called and questioned when/why the monthly payment had not decreased. I was told by a representative that a formal request form needed to be completed (which she was doing) and I would hear from an agent in ***** hours. On Jan. 13, I called for an update at which time I was told a written request needed to be sent to the customer service email address. I sent the email and will follow back up with them. My fear is I will be given more misleading information. I have now been given misinformation twice by this company regarding my loan. I received a lot of apologies and promised that better training would occur, but that does not help in my current situation.
Business Response
Date: 01/19/2023
Please see the attached document.
Customer Answer
Date: 01/23/2023
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,

*******************
Initial Complaint
Date:01/13/2023
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.
On January 10 2022, I was driving to an Allpoint *** to withdraw $100 from my account without being charged a fee. I saw a bank advertising fee-free *** on a sign and decided I would save myself the hassle of going into ********* and instead just go through the drive-thru and get the same money with no fee. I went through all of the *** prompts and was not told there would be a fee at any point. After I got my money, a $103 charge hits my account, with there being an *** owner fee of $3 added onto the charge. I immediately called the bank that the *** was located and while I was told clearly that their ***s should never, ever charge any owner fee, I was still refused any real help with the issue because I didnt have an account with the bank, and was told I needed to get in touch with my bank regarding the fee. I did this, and instead of helping me, SoFi agent ******** wasted about 15 minutes of my time arguing with me, telling me that the only thing he could do for me is dispute the ENTIRE CHARGE, while also telling me it would likely be denied. Disputing *** charges is enough to get a target put on someones head, and I clearly dont want that considering the fact that Im the victim here. It blows my mind that a bank wouldnt understand that. *** continued to imply I was a liar and then gaslit me about the fee before disconnecting the chat.Most normal banks that give a single care about their customers are happy to refund negligible fees like this. Instead they probably paid *** more than $3 to sit there and argue with me and not actually help me. This is a predatory practice riddled in fraud, and SoFi and its cronies have no problem at all with condoning it. That isnt right, Im a broke college student trying to get by on next to nothing. $3 is huge to me, it isnt to you. Do the right thing and correct this issue.
Business Response
Date: 01/18/2023
January 18, 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 13, 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:01/13/2023
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 and the entire team at Fraud Member Security, assigned investigator/analyst, ********************* and ****** are the scammers who target older population by stealing the information. Since September ************************************************* the amount of $7200 that was changed in Europe, while I live in *************. I have been calling ***** and emailing Fraud Claims every day, however no response. Filed multiple complaints with customer service, again no one cares. I provided all the supporting documents, including my passport that I havent travelled to Europe, again no one cares. Also I would like to mention that I never had fraud on any of my credit cards and have absolutely excellent credit reputation. I continue to make payment to protect my credit worthiness with expectations that this will be resolved. It is a mystery how can SOFI score A with BBB with such a poor business approach and business misconduct violating all the *************** Regulations.
Business Response
Date: 01/20/2023
Please see the attached document. Thank you.
Initial Complaint
Date:01/12/2023
Type:Order 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 applied and was approved for the SOFI credit card on 12/11/22, and it's been 1 month without receiving the actual physical card. Despite of having numerous phone calls, they are not willing to send the replacement card in Next Day Air, and it will cause more delays since the new production can take the same delivery time.
Business Response
Date: 01/20/2023
Please see the attached document.

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SoFi is NOT a BBB Accredited Business.