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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.
- 773 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:12/19/2022
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.
I was a victim of identity theft and has been severely affected for the last few years. after filing a police report, a FTC report and CPBS and after contacting Sofi on numerous occasions and after supplying all relevant documents supporting the facts, they still refuse to properly investigate and remove fraudulent account.Business Response
Date: 12/24/2022
Please see attached.Initial Complaint
Date:12/18/2022
Type:Order 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 set up direct deposit but received only $250 instead of the promised $300 bonus that was advertised. Please credit the remaining $50.Business Response
Date: 12/27/2022
Please see the attached document.Customer Answer
Date: 12/27/2022
Complaint: 18607663
I am rejecting this response because: no substantive response has been provided and no credit has yet been issued
Sincerely,
*****************************Business Response
Date: 01/11/2023
Please see the attached document.Customer 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:12/16/2022
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 9/16, received an email about balance transfer promotion. If requirements were met, I would receive points equal to $1,000. I deposited the money expecting my bonus by 12/14. I never received the bonus. I reached out today and a ticket was opened, but I've had tickets in the past that were not resolved. I was hoping the issue would be resolved today and now I have no timeframe of when I'll receive the bonus.Business Response
Date: 12/23/2022
Please reference the attached document.Initial Complaint
Date:12/16/2022
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.
On Wednesday, December 14, 2022 my account was frozen. Upon calling the number they told me to contact I had deposited a check from my other bank that I was trying to move away from to sofi. **************** Bluebird. I messed up on the check. Amex requires a pre authorization code. If you don't have a code or it's wrong they send the check back as Not Authorized. Sofi saw the Not Authorized and thought it was fraud. It's not. Amex will and can confirm this. However sofi has no path for me to speak to their investigation team directly. The number I get directed to the agents have ZERO visibility into resolution. They also state there is no escalation path and nothing they can do. There is no ETA. Nothing. All my money including my guaranteed funds from my direct deposits are unavailable. They will not let me access one ***** or even wire money out to another account. I have bills past due, threats of losing my vehicle, my electricity to my house, it's Christmas time and I need my funds.Business Response
Date: 12/22/2022
December 22, 2022
Better Business Bureau
1805 *****************************, Suite 100
******, ** 78754
RE: BBB Case# ********; *********************
To whom it may concern:
We are in receipt of your letter received December 16, 2022 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:12/15/2022
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.
When I first applied for a SoFi Credit Card they had an initial offer to pay the customer $300 if they paid their bill on time for the first three months which I have done so. I have called periodically within the past year to inquire about this but I was placed on hold for too long. I tried again on November 30th and finally spoke with ***** in the ********************* and He said that I should have an answer in regards of my dispute within 2-5 business days. I called on Dec. 3rd and spoke with **** at SoFi and she said that it would now take up to 10 days for an answer. It has now been pass 10 days. When I spoke to ****** from SoFi today ***** there is still no answer. I would like to have SoFi honor their promotion and forward the $300 that I should receive. Thank youBusiness Response
Date: 12/22/2022
Please see the attached document. Thank you.Initial Complaint
Date:12/15/2022
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.
I was offered a $100 bonus through the SoFi app for signing up with ladder life insurance one of their affiliates. I concluded the terms of the agreement and SoFi has neglected to fulfill their end of the promotion.Business Response
Date: 12/22/2022
Please reference the attached document.Initial Complaint
Date:12/15/2022
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.
I made my first complaint about SoFi 2-3 months ago complaining that they froze my account and would not talk to me. After my complaint, SoFi contacted me and we sorted the issue and they would close my account and refund me after my ongoing dispute was completed. It was completed but never got a call back or an email so I filed another complaint and what do you know, I get contacted by SoFi the next day. They sent email on Nov 16 stating that my account has been closed and any remaining funds would be transferred to the bank account on file or mail a check. Its been over a month and I havent received anything. SoFi has been giving me poor service and is making this process a headache for me. PLEASE STAY AWAY FROM THIS BANK!!! I want my money right now!!Business Response
Date: 12/22/2022
Please reference the attached document.Initial Complaint
Date:12/14/2022
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.
RE SOFI bank . I set up a stock trading account with this company I also had a credit card account with SOFI bank . I have had multiple problems and issues moving my stock to other brokerages ( when this is my legal right to be able to do so ) . At times Ive been under major pressure time wise to move stock due to meet margin requirements at other brokerages . Yet they delay and frustrate the process of moving any stock from the brokerage account . Loosing time and money and they have inadequately trained staff with antiquated systems who can not provide any meaningful support and or resolve . They leave you on hold for hours and hours and with out knowing of when and if you can talk to some one . Just recently they closed my credit card with out notice and No reason was given as to why they closed the account . When I called them they further frustrate the situation by saying they do not have any information regarding my account and that they are unable to assist me . I asked to speak with managers yet no managers are available. I asked to speak to the securities department and all I get is a voice mail . I asked to speak with the fraud department yet this department and they have no information on my account and advised me that they can not help me ! The issue here is that all the accounts I have with SOFI including my brokerage account are now on hold yet there appears to be no resolve and or solution in sight . This company is acting in a very criminal way and they are clearly attempting to steel my money . BEWARE !! Again the customer service staff are simple not educated and unable to help in any meaningful way ! SOFI bank is a financial institution supposedly responsible for peoples finances this company is not fit for purpose and needs to be brought in to line . I have spent well over 200 hours trying to reach some kind of resolve yet no resolve is in sight !Business Response
Date: 12/22/2022
Please reference the attached document.Initial Complaint
Date:12/14/2022
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.
I applied for a mortgage with SoFi. SoFi promised me a $500 rebate when the loan closes. The loan closed 3 months ago and still no rebate. I was told via email - "***** had re-submitted this request again for you and the status is currently showing Pending Approval for the following reason: Members must apply for a SoFi Checking/Savings account or add their ACH info and sign the W9 " I have provided this information multiple time since via emails starting on 11/22/22.Business Response
Date: 12/22/2022
December 22, 2022
Better Business Bureau
1805 *****************************, Suite 100
******, ** 78754
RE: BBB Case #********; **********************************;
To whom it may concern:
We are in receipt of your letter received December 14, 2022 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
**********************Initial Complaint
Date:12/12/2022
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.
I opened my Sofi credit card on November 23rd, 2021. I have made regularly scheduled monthly payments manually, with autopay as a back up, with proof. Including my last payment on November 19, 2022.I was unable to use my card 11/29/22 so I was prompted to call in to address the concern. I called into Sofi on 11/23/22, 12/5/22 and 12/12/22 and I was informed my account was closed on November 21st 2022, due to me allegedly filing bankruptcy on March 1st 2022. The credit reporting to the bureaus shows between Dec 5th to Dec 12th, the reason for my account closure was changed from 'Cancelled by Credit Grantor' to 'Charged off as bad debt' and 'Profit and Loss write-off'I have never filed for bankruptcy, I have never been called for collections.I have also continued to make regularly scheduled payments. I have never asked for my account to be closed.I need questions answered:1. Why was my account closed without my permission? This is a UDAAP violation that someone else was able to close my account with my being aware or my permission to close granted.2. If my account was in a bad standing, how come I was never made aware? I have received no collections calls, no stoppage in ability to use my card up until 11/21/22, and no letters indicating debt collection attempts were ongoing. Also, I have proof of regular monthly payments.3. Bankruptcies are typically handled by law firms, including management of information and payments, once power of attorney documents are received.Which law firm is handling the alleged bankruptcy filed on my account? How was that information provided to Sofi? Can you verify you received a Proof of Claim documentation? If so, when and how? Which chapter is the alleged bankruptcy? How did Sofi allow payments on my card with my own bank account during the processing of an alleged bankruptcy filing? How was the card eventually closed due to it, 8 months later?Business Response
Date: 12/22/2022
Please see attached.
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