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
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.
772 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:01/04/2023
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.
Sofi did not apply my monthly payments accordingly. Sofi assumed at times that I was making principal payments on some of my month payments that I made. On some of my payments they applied it towards the next month's payment which that's what I had attended to happen. I never indicated on my payment or payments that I was making principal payment. I informed Sofi customer services. ********************** customers service all have different information.Most of them just want to get you off the phone. Sofi violated **************** Credit Transaction Act 12 CFR Part **** - Truth in Lending (Regulation Z) - ****.10 Payments Fair Credit Reporting Act Sofi reported me late 2 times July and August 2021. I have written them. I have filed credit report disputes. Sofi still continually ignore this serious matter. Sofi has cause my family financial hardship and undue stress because of their errors. The resolution is for Sofi to remove any and all negative information they have reported to all credit bureaus and agencies.I have attached some documentation and I have more if needed. Thank you for your help in this matter.
Business Response
Date: 01/07/2023
January 7, 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 4, 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 Relations
**********************

Customer Answer
Date: 01/10/2023

Complaint: 18681028

I am rejecting this response because: I have provided my consent. I have not received anything from Sofi as of January 10th, 2023

Sincerely,

*****************
Business Response
Date: 01/23/2023
Please reference the attached document.
Customer Answer
Date: 01/23/2023

Complaint: 18681028

I am rejecting this response because: This was not a respone to my complanit. I sent in consent/ authorization to release information to BBB over a week ago. My issue with Sofi is they were picking and choose and when to apply my payments when I paid ahead. This is my issue and reporting negative information that is not accurate. My documents that I supplied shows exactly what my issue is. Which Sofi can not answer and continue to avoid. I have sent several emails and phones to them to reslove this issue. Because of their error has put me and my family in financial hardship.

Please see attached of what I received from Sofi.

Sincerely,

*****************
Initial Complaint
Date:01/03/2023
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.
SoFi Bank bonus referral program advertisement is misleading. It advertises a $50 bonus for referring a new member who opens a new checking and/or savings account and funds it within 14 days in the amount of $10>. The new account holder also receives a $25 bonus which is to be paid within 10 business days after minimum requirements are met.My referred friend opened and funded a checking account on December 8, 2022. She received her debit card approximately 10 days later. As of January 3, 2023, I had not received a bonus or notification of denial so I contacted SoFi Customer Support via telephone. She informed me the reason my referral bonus was not honored is my referred person had an existing SoFi registered account. I disagree with SoFi rationale because this account consist of a user profile only (name, email and password), not a checking or savings account.Given this confusing and misleading advertisement, I feel SoFi should honor my referral bonus. Furthermore, I request SoFi clarify their official rules for this referral program to state referred contacts cannot possess an existing registered user profile.
Business Response
Date: 01/06/2023
Please see the attached document.
Initial Complaint
Date:01/03/2023
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.
Continued and unsolicited mailings from SoFi. The representative had the nerve to ask for my date of birth in order to stop the mailings!!!
Business Response
Date: 01/07/2023
Please see attached.
Initial Complaint
Date:01/03/2023
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.
The first part of my complaint is that So Fi Online Banking has no way to talk to a live person and every avenue of supposed "contact" is only through opening an account. When you call the ************ # shown on their website to ask questions and not being a member yet, all it does is give you an option to have a FAQ emailed or texted to you. I don't have an account yet and my question specifically relates to whether I even want to, plus questions about money I can't access as a 3rd party. The second part of this is the only reason I am trying to make contact is that someone has sent me money which I cannot access. They set up to have $700 transferred to my account at BOA. So, the result was that SoFi sent me a text with a link to "claim my funds." The link goes to a page where your only option is to set up an account or just look through their webpage! I called the person transferring money to me and they said when they set it up, they gave SoFi my BOA routing and account number to have money electronically deposited into my account. But, instead of doing that SoFi is trying to force me into opening a SoFi account, which I really don't want! I was actually going to consider it but you can't get to a live person!!!!! And, I can't get the my money transferred to me because I didn't go along with opening an account!!! Oh, and the "chat" button - that also does not bring up a chat box!!! It brings up a new page to either log in or to open a new account!!!!!!! Attached photo is what you get when you try to use the "chat." This should not be legal for this kind of underhanded manipulation and avoidance of contact!
Business Response
Date: 01/10/2023
Please see attached.
Initial Complaint
Date:01/03/2023
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 participated in Balance Rewards Promotion in September. I contacted SoFi customer service on 9/26 to understand if I will be qualified for $1k credit if I transfer $100k in Sep, withdraw part of it later on, while still maintaining my total balance over $100k in Oct and Nov. The SoFi agent ************ told me it is OK to do so. Please refer to the enclosed screenshot. Here are his original words. "As long as you transfer $100k and keep that money on the account, you can withdraw any other balance on it and it will not affect your bonus. An example would be: You deposited $100k and your account balance by October 1st is $115k, you are still able to withdraw $15k and won't affect your bonus cause the account balance will still be $100k." I explained my case to him. I transferred >$100k in Sep and would have $160k by 9/30. I planned to withdraw $50k b/w 10/1 and 11/30. I asked if he can confirm I qualify for $1k bonus. He said that's correct because the difference between my account balance by Sep 30 ($160k) and what I withdrew ($50k) in Oct/Nov, would still be above $100k and that's what makes me eligible for the $1k bonus. I followed his instructions in Oct and Nov. SoFi ended up giving me only $500 credit instead of $1k. I reached out to SoFi and provided the chat history with their agent. I requested them to give me another $500 credit because their agent provide false information to me. They turned down my request. From my point of view, the issue is caused by SoFi customer service. They provided completely wrong information to me. If they don't know the answer, they can simply say they don't know. If I was given the correct info, I would not transfer any money out of my account to get the $1k bonus. SoFi shall be responsible for the customer service that they provided. I urge SoFi to review my case carefully and send me another $500 credit. If my request is not approved, I reserve my right to take further actions.
Business Response
Date: 01/07/2023
January 7, 2023

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

RE: BBB Case # ********; ** Su
To whom it may concern:

We are in receipt of your letter received January 3, 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:01/03/2023
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.
Purchase date:10/13/22 Total:656.63 Dispute#************* 12/2022 case worker ***** Phone *********************** ********* has been holding on to the provisional credit to my account. I clearly explained to them that the firearm was defective and it jammed and would not pass a ammo from the magazine into the chamber no matter how many times I tried. I explained that this was a birthday present for me and I did not know until my birthday that this product had this issue with it I contacted the merchant and was told that he would not be accepting the item back for a full refund due to the fact that once I left the store it decreased in value and he would only be accepting it back as a used trade-in even though it's never been fired because all it does is jam. So so far Bank has been very unethical towards me regarding this dispute I clearly told them that I have the merchants items here that I did not alter or touch anything in any kind of a way to cause this problem and I'm not very comfortable with the item as a home defense tool it would be very scary actually to know that you jam in the moment of danger. I left a message with the store I believe it was on that Monday which would have been either December 12th or 13 and I also made an online post which I received a reply back from the owner stating something to the degree of he felt that I only needed to exchange ammo he debated there being an issue with the firearm. Again I feel it's my right that if I don't feel comfortable with that product and what happens with the jamming that I should be entitled to a full refund nothing has happened with the item that would cause it to decrease in value except their policy which they feel should supersede my right to a full refund.
Business Response
Date: 01/12/2023
Please see the attached document.
Customer Answer
Date: 01/12/2023

Complaint: 18670269

I am rejecting this response because:
I'm still entitled to a provisional credit on this account during the investigation; there's no reason why I need to wait any longer to receive it.

Sincerely,

*******************
Business Response
Date: 01/22/2023
Please see the attached document.
Customer Answer
Date: 01/23/2023

Complaint: 18670269

I am rejecting this response because: it does not state that they will be issuing a provisional credit to my account at this time. I don't feel that this situation has been resolved until they've honored my request. The total charge plus their interest has put my credit balance over the spending limit and significantly increased my monthly payments

Sincerely,

******* Holy
Initial Complaint
Date:12/30/2022
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 will now be my second formal complaint against SoFi. I had my friend sign up for them under my link and after a little while she began to wonder where the referral bonus was. So she contacted customer support and they stated that the link we used wasn't useable anymore because it took so long for to the deposit to come through. However, that is not our fault because there was Christmas, Christmas Eve, and additionally Monday was a banking holiday. They're trying to say that the time frame took too long when, in reality, my referee did the entire sign up and deposit process in under 20 minutes. If it took longer on SoFi's end, due to banking holidays, that is in no way something that we can control. Both she and I did everything we were supposed to do in regards to SoFi's referral system, therefore we deserve what we were promised originally, via the referral promo guidelines, which would be $50 for myself and $25 for her. I did try to contact customer service myself, however, they were not helpful in the slightest. I'll be attaching a multitude of screenshots that show my conversation with a CSR, her conversation with a CSR, screenshots of her signing up under my link for SoFi and successfully depositing $10 as well as a screenshot of a representative telling her that she did everything perfectly. All we want is what we were promised. Thank you,*******************
Business Response
Date: 01/05/2023
Please see the attached document.
Initial Complaint
Date:12/30/2022
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.
They are lying to there customers. Stating I never signed up in time and then that I closed my account when I never did. They are lying so they dont have to pay people they referral bonus. I got referred by someone and I was supposed to get $25 and she was supposed to get $50 but apparently it says in there system that I closed my account and I never did. I had access to my account the whole time. They need a new system because now Neither one of us get the bonus for creating and depositing at least $10 into account. They customer service is rude.
Business Response
Date: 01/05/2023
Please see the attached document.
Customer Answer
Date: 01/09/2023

Complaint: 18662892

I am rejecting this response because: I deserve my referrals bonus for signing up with someones link. I have done everything right and your system is saying wrong. I would like my full $25 for signing up and depositing $10 into my sofi account everything will be just fine.

Sincerely,

*********************************
Business Response
Date: 01/22/2023
Please see the attached document.
Initial Complaint
Date:12/29/2022
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 account was closed with a positive balance of $143.62 on December 27,2022 my last 4 digits of my ssn#**** please mail my check asap
Business Response
Date: 01/04/2023
Please see the attached document.
Initial Complaint
Date:12/29/2022
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 am a victim of identity theft. I am filing this complaint as I am attempting to dispute an account that was fraudulently opened at SoFi using my personal identifying information including my social security number.Both myself, and my LifeLock identity restoration specialist, have attempted to follow up on dispute documentation sent via fax to fax number ************ on 09/12/2022, and sent again via mail to ************************************* on 10/31/2022. According to ************** tracking number: **** **** **** **** ****, the documentation was confirmed delivered and picked up my an individual at the postal facility on 11/10/2022 at 4:58pm. The documentation includes a fraud affidavit issued by the ************************ and proof of my identification/residency. I have been unsuccessful in verbally confirming if this documentation was received by SoFi.We have also been in contact with the SoFi investigation team and the fraud investigator assigned to my case. Case number: *******. The fraud investigation team states I will need to complete/send back their fraud packet, but I have yet to receive this packet. I have attempted numerous times to request this fraud packet be sent to my mailing address, but have so far been unsuccessful.I continue to receive letters from SoFi and my credit reports have been negatively impacted. I am requesting immediate communication from SoFi and would like to know the best way of resolving this identity theft issue, or the best way of getting into contact with someone who can assist with this matter. Thank you.
Business Response
Date: 01/06/2023
Please reference the attached document.

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SoFi is NOT a BBB Accredited Business.