Business Profile
Loans
SoFiThis business is NOT BBB Accredited.
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Important information
- Customer Complaint:
BBB’s business profile for SoFi was created in September 2012. A review of SoFi complaints was completed in June 2025.
Consumers are encouraged to review the following links for information on terms of service and security.
SoFi Terms of Use Agreement
SoFi FAQ
Complaints
This profile includes complaints for SoFi's headquarters and its corporate-owned locations. To view all corporate locations, see
Customer Complaints Summary
- 2,313 total complaints in the last 3 years.
- 772 complaints closed in the last 12 months.
If you've experienced an issue
Submit a ComplaintThe 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:12/28/2022
Type:Product IssuesStatus: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 10/30/22 I went on SOFI website and saw ad for New Customer Promo- Open checking/savings accounts set up Direct Deposits from eligible payroll or gov't sources to get a tiered bonus. I read all the fine print -Promo was to expire 12/31/2022. Evaluation Period started date of 1st direct dep -ended 30 days later. Bonus was calculated based on Total $DD at end of Evaluation Period. $1000-$1999 = $50 $2000-$4999 = $100 $5000+ =$300. I opened the account. Added my husband as JOINT acct holder. Contacted Social Security to have his pension Direct Dep sent to SOFI. Contacted my employer and did same. Social Security check DD hit on Nov 10. By Dec 6 all Direct Deposits totaled $5256.80. OVER $5K within 30 days of 1st Direct Deposit = $300 BONUS. To my surprise $50 was deposited into account labeled Money Promo Bonus. ?????? I waited a few days to see if the remaining $250 would be given. NOTHING! I called customer service - I was told that ********************** CHANGED THE ***** of the Promotion AFTER I had signed up. Max ****** on $5k+ was now $250 AND the "Evaluation Period was shortened to 25 days after the 1st DD" WAIT? WHAT?!?! How can SOFI DO THAT? Rep told me she was submitting an escalation ticket that was Dec 16. I hadn't rec'd any response and I took to ******* @SoFiSupport and stated my issue. Response was for me to follow link and chat with a Rep. OK - ************** on Dec24th (**** screen shot attached) ALL of his responses made NO SENSE and was NOT how the promotions terms were worded when I signed up. I told him as such and he literally told me he was sorry that I never read the terms and conditions (I MOST CERTAINLY DID) and that he was going to disconnect the **** since "it seems like you're not willing to actually read at any of the messages I'm sending" HE ENDED THE ****!!! I DID read the terms very carefully - I was expecting $300 Bonus. I would NEVER have bothered changing ALL Direct deposits (Including SS Gov ******** for $50. AN ADDITIONAL $250 is DUE!Business Response
Date: 01/04/2023
Please see the attached document.Initial Complaint
Date:12/27/2022
Type:Sales and Advertising IssuesStatus: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 very small position in stocks using SoFi. I did not enjoy the experience so I requested to sell and transfer my assets on 12/16/2022. I waited and nothing had happened as of 12/27/2022, this was well beyond the stated time frame for the transaction to process. I reached out to customer service via chat and explained to them my situation. They stated that an email had been sent that day coincidently 12/27 to tell me that an error had occurred with my request. I explained that I never received the email in spam or any other folder. I was asked if I wanted to file a formal complaint, I stated that I did, I was disconnected immediately. I would like my money from the account in as fair of a way as possible as I am concerned with support, honesty, and integrity of the organization.Business Response
Date: 01/05/2023
Please see the attached document.Initial Complaint
Date:12/27/2022
Type:Order IssuesStatus: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 refuses to re-investigate my loan as fraud, which has left me stuck making payments on it for 3 years. I'll have to file for bankruptcyBusiness Response
Date: 01/06/2023
Please see the attached document. Thank you.Initial Complaint
Date:12/26/2022
Type:Billing IssuesStatus: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 put this message on top of the money account **** "Your account is currently under review, we apologize for any inconvenience this may cause. If we need any additional information, you will be notified."There's no explanation and no way to withdraw. It's been like this for over a year, it's ridiculous.Business Response
Date: 01/05/2023
Please see the attached document. Thank you.Initial Complaint
Date:12/23/2022
Type:Service or Repair IssuesStatus: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 for and got approved the SoFi credit card on May 10, 2022. I also applied for and got approved the authorized user additional card of it for my wife ***********************. However I have never received the additional card for more than half year. I have contacted them for multiple times (in Nov, in Dec), and every time they promised me they will send it to me but they all lied. Some of them even tried to charge me $25 for rush mail but I have never received the credit card. The latest agent told me the additional card has never been issued and all previous agents were failed to do so because of lack of training. However she also failed her promise that the card will be shipped. Please help me to contact SoFi to ship the card to me ASAP.Business Response
Date: 12/30/2022
Please see attached.Initial Complaint
Date:12/22/2022
Type:Service or Repair IssuesStatus: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.
A fraudulent account was opened in my name and this company will not help resolve or call me back to resolve the issue. I must prove to the *** that this is a fraudulent account opened under my name and I just can't get anyone to help me. Their fraud department only takes messages. *** sent 9 **** B's under my name with a total of almost $5000 dollars in proceeds paid out to the Fraudulent Person that used my credentials to open this account.Business Response
Date: 12/30/2022
Please see attached.Initial Complaint
Date:12/21/2022
Type:Service or Repair IssuesStatus: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.
SoFis fraud department is a joke. Absolutely the scum of the earth. I had a blatantly fraudulent charge on my debit card On 11/08. The charge was in ***** and made on ******* pay. I do not own any ******* devices, and I live in *******. Blatant fraud. SoFi denied it. They said that I replied yes to an authorization text. I did not. A supervisor at SoFi told me to send copies of my phone records showing that I did not receive the text. I supplied phone records proving that I did not receive the text, but the claim was still denied. This is absurd. I did exactly what you asked me to do. Nobody at SoFi cares at all. This is so egregious. I cant speak to anybody in the fraud department, and they just send the same email over and over again. *** worked at a bank, and SoFis fraud department is a joke. Frankly, they are not complying with US banking regulations about fraud reimbursements. *** never been treated this badly by a bank. Terrible bank. Evil people. Never bank with them.Business Response
Date: 12/30/2022
Please see attached.Initial Complaint
Date:12/21/2022
Type:Billing IssuesStatus:ResolvedMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I received an email from SoFi Bank, N.A. Member FDIC on 9/23/2022 inviting me to transfer funds into my SoFi Checking and to receive points that can be redeemed for cash into the account once terms have been met. I had a balance of <$3 in the account since August 1, 2022. I transferred a total of $25,100 into the account which was credited on 9/27/2022 and 9/29/2022, by the 9/30/2022 11:59 PM cut-off in the promo terms. I then kept the $25,100 in my SoFi Checking account through 12/5/2022, past the 12/1/2022 cut-off in the promo terms. On 12/14/2022, I was due to receive SoFi points with a cash value of $250 but not points were credited. I contacted SoFi via chat on 12/14/2022 and, after quite a bit of pushing on my part, a ticket was opened for the missing points. I then called SoFi on 12/15/2022 on a mutually recorded line and was told that the ticket "would be worked on" but there was no ETA for an update due to the number of customers for whom the promotion had not been automatically honored.Business Response
Date: 12/29/2022
Please reference the attached document.Customer Answer
Date: 12/29/2022
Complaint: 18623072
I am rejecting this response because: I have been told that I have five calendar days to accept or reject the response. However, the response I received simply says I will receive a response in several business days via **** mail, rather than providing any response that I can review within 5 calendar days. Further, I am out of the country until mid January. I will note the missing $250 worth of SoFi points have NOT been credited to my account as of today, nor do I see any electronic communications that I can access from the SoFi app or website when logged in regarding this matter. SoFi has multiple means to provide a more prompt response or resolve the matter by crediting the missing $250 worth of SoFi points but has chosen a stall tactic.
Sincerely,
***************************Business Response
Date: 01/11/2023
See response attachedCustomer Answer
Date: 01/12/2023
Better Business Bureau:
I have reviewed the response made by the business in reference tocomplaint ID ********, and find that this resolution is satisfactory to me.
Sincerely,
***************************Initial Complaint
Date:12/21/2022
Type:Service or Repair IssuesStatus: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. On Sept 20, a SOFI credit card was fraudulently opened under my name.I did NOT open this account. I called SOFI on October 24 to report the fraud. They advised me the account would be closed and a SOFI investigator would call. SOFI NEVER closed the account and no one ever called. I called again on October 30 when according to the credit reporting agencies more money was funneled from this account. I again received the same song and dance and was told again that someone would call. They have NOT. The account is STILL on my credit report as it is now past due. We have sent a registered letter to SOFI Legal on December 1 and have NOT received a return receipt. On December 7 we sent a letter to ***********************, CEO and have received NO reply. SOFI has NO ***************** They are incapable of getting this removed from my credit report and NO one cares. SOFI is a preferred choice for hackers and scammers and now I know why. WILL SOMEONE PLEASE REMOVE THIS FRADULENT ACTIVITY FROM ALL OF THE CREDIT REPORTING AGENCIES.Business Response
Date: 12/28/2022
Please see attachedInitial Complaint
Date:12/19/2022
Type:Delivery IssuesStatus: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 an email from SOFI with the following terms:1. Transfer at least $5,000 into your account by 9/30/22.2. Maintain your balance until at least 11/30/22 in order to receive the bonus.3. Receive your bonus by 12/14/22.Deposit AmountBonus $5,000 $9,999$50 $10,000 $24,999$100 $25,000 $49,999$250 $50,000 $99,999$500 $100,000 $1,000 I did all of these and have not received the bonus. When I call, the reps I talk with agree that I met the conditions of the offer, but have to file a ticket with the ********************* They do not guarantee a time when I will get a resolution. When I read online comments, I do not believe I am the only one they are holding off on paying the bonus that is due to me.Business Response
Date: 12/28/2022
Please see attached
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