Business Profile

Loans

SoFi

This 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
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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

2,308 total complaints in the last 3 years.
769 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:12/05/2022
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.
4 Unauthorized transactions were made on my account. I called Sofi right away they started a investigation but I did not hear anything from them and they froze my account. After almost a year of calling and leaving voicemails I finally got someone on the phone only to tell me the claim was denied. Transactions 12/05/2021 *************************** -$153.00 12/04/2021 *********************************** -$565.00 *************************** -$123.00 *************************** -$117.00 I have attached my December 2021 statement.
Business Response
Date: 12/14/2022
Please see attached.
Customer Answer
Date: 12/19/2022

Complaint: 18523496

I am rejecting this response because:

Sincerely,

***********************
Customer Answer
Date: 12/22/2022
I did not make the make those charges on my account. It was result of a data breach and I believe I should receive a refund of all charges.
Business Response
Date: 12/29/2022
Please see attached.
Initial Complaint
Date:12/03/2022
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.
This bank stole $366 off of me! I gave ALL RECEIPTS SHOWING NO MONEY WAS WITHDRAWN AND FORWARDED TO THIS BANK. I havent eaten in 4 days, utilities are being shut off, They REFUSE to give me a higher up! Everytime i speak to them, they say, "Oh itll probably be a few weeks" THIS IS NOT RIGHT!! THEY STOLE MY MONEY AND REFUSE TO GIVE IT BACK! I CALL EVERYDAY AND CANT GET ANYWHERE BECAUSE THEY WONT TRANSFER ME TO ANYONE THAT CAN HELP! I want to file criminal charges and let all 135k subscribers of mine to NEVER USE THIS BANK! I CANT BELIEVE THEY DID THIS TO ME! I HAVE NO FAMILY, NO FOOD, NO GAS, UTILITIES ARE BEING SHUT OFF, I HAVE 4 KIDS THAT CANT EAT!! WHAT IS GOING ON!!!THEY SHOULD HAVE THEIR BUSINESS LISCENCE TAKEN AND THIS BANK SHOULD BE SHUT DOWN! THEY WILL NOT LISTEN AND WILL NOT RETURN MY MONEY, EVEN THOUGH I SHOWED THEM THE 2 RECEIPTS SHOWING NO MONEY WAS TAKEN, YET THEY (SoFi) refuse to give me my money back! PLEASE HELP US! MY CHILDREN AND I CANNOT KEEP GOING WITHOUT FOOD!! PLEASE HELP US PLEASE HELP US PLEASE HELP US!! they have one transaction for $184 AND $183! THEY STOLE $367 OFF OF ME! THE ***** REPS TOOK MY INFO AND STOLE MONEY OFF OF ME! I HAVE SENT THE RECEIPTS TWICE TO SHOW THEM WHAT THEY STOLE FROM ME!! CRIMINAL CHARGES SHOULD BE FILED AGAINST THE REP THAT STOLE FROM ME!!!
Business Response
Date: 12/09/2022
Please see the attached document.
Initial Complaint
Date:12/02/2022
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.
SoFi account was opened 11/7/2022, with a Debit Card being issues the same day and shipped 11/9/2022. As of 12/1/2022 I never received a debit card from SoFi Bank. After multiple attempts to reach out, and SoFi claiming the card is on the way, and that it is supposed to arrive in 10 Business Days... I closed the account. My Direct Deposit was mistakenly credited to the closed account. SoFi bank did not escelate the issue, and refused to escalate only telling me that it will be credited back to the issuing bank in 3-6 business days.
Business Response
Date: 12/08/2022
Please see the attached document.
Initial Complaint
Date:12/01/2022
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.
I opened an invest account in May 2021 with SoFi. The account has balance of $3598.30 that has been held more than the 90 days that I was told. I contacted SoFi multiple times to get the runaround spending hours on the phone back-and-forth and always get different responses. The funds were made by trading a stock $AMC, initiated, and executed by myself to gain those profits . It is not legal to hold the funds for more than the 90 days that are allowed. Not to mention this affected my taxes, when I didnt even have access to that balance the whole year.
Business Response
Date: 12/08/2022
Please see the attached document.
Initial Complaint
Date:11/30/2022
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.
I used my home phone number which is not a cell phone. It can not receive text messages which is required by this company to "Identify" me for first time use. They tell me there is a "Profile Lock" and no representative can help me. I've been trying for 2 weeks & have talked to 30 representatives. I've spent 20 hours trying to resolve this issue. I could not reach anyone who is able to help.
Business Response
Date: 12/07/2022
Please see the attached document.
Initial Complaint
Date:11/29/2022
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.
Got prequalfied for personal loan. Applied a few weeks later and got told the pre-qualification rate no longer applied. A new rate was provided. I applied for that, it looked like it was approved, I got asked for my bank log in details etc... SOFI literally made it look like everything was good and the money was going to be transferred. Unfortunately, Instead I got an email later telling me that I did not qualify for the new (second) rate and a counteroffer was made. The email said, do not upload proof of income. I tried to change the amount of the loan and was forced to apply for a new loan. There is no way to withdraw an application on the website. The website offers a lower rate with proof of income. I submitted that. It's been weeks and I have not heard back from SOFI. Why offer a lower rate with proof of income, take someone's information, pay stubs etc... and literally go silent on them? I see a note on my account saying loan offer expires on 12/5. I don't want the offer. I want to withdraw but there is no way to do so. This is wrong! I also started a pre-qualification for a home loan and I have been called twice for that and have told them NOT to call me about that. No way to withdraw that either. I want it withdrawn!My credit is not terrible, but I feel this is potentially going to destroy my credit. In short, they have literally ALL of my financial information because I thought I was going to be using them for the personal loan BUT now the website does not provide functionality to help, no one is responding to chat, and no one is calling to provide an update. Tried calling and the wait times are impossible.
Business Response
Date: 12/08/2022
Please see Attachment
Customer Answer
Date: 12/08/2022

Complaint: 18475222

I am rejecting this response because it is a non response. This should not even count as a response.

Sincerely,

JC
Business Response
Date: 12/18/2022
Please see the attached document.
Initial Complaint
Date:11/28/2022
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.
Opened a checking account, deposited $200. When I went to log into said account to check my balance the money was taken by a transaction I never approved. Have called countless times to either resolve the issue or at least close the account. Very fishy banking. I do not like my info out there like this. **************** should receive a -zero, as one of the times I called I got hung up on. Never have I dealt with a bank like this, from now on I will stay local. I would love to get my money back, however if all I can do is let people know about this shady business then that's what I will do.
Business Response
Date: 12/05/2022
December 5, 2022

Better Business Bureau
1805 *****************************, Suite 100
******, ** 78754
RE: BBB Case# ********; *****************

To whom it may concern:

We are in receipt of your letter received November 28, 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:11/28/2022
Type:Sales and Advertising 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.
So I ordered a product online and within a week I realized it was a scam. I wrote Sofi to immediately dispute the transactions. After a few weeks I just received an email from Sofi saying that they concluded no fraudulent charges were made. My complaint is that a banking company like Sofi would allow a scammer to get my money and then deny a refund. I will be seeking other measures against two other companies involved
Business Response
Date: 12/05/2022
Please see the attached document.
Customer Answer
Date: 12/09/2022

Complaint: 18473109

I am rejecting this response because:
They have done nothing to help fix my issue with fraud and money taken from my sofi account.
Sincerely,

*************************
Business Response
Date: 12/18/2022
Please see the attached document.
Initial Complaint
Date:11/28/2022
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.
I filed for a personal loan on 11/11/2022 that I found through Lending Tree with excellent acceptance and approval odds. On their site, they state my credit is 713. I went through filing, sending in all my bank information, etc. I received a call the following week saying I was approved and the process was moving forward. Still, they needed more information, such as a P&L report, my freelance contracts, upcoming freelance invoices, and a letter of intent. I provided all of these that day. Then, I heard nothing. I reached out multiple times via their chat to be told, "your account is in review." Mind you, this personal loan was for credit card consolidation and repayment. I still did not hear from them. I ended up logging back into my site to see that my application was denied. No phone call, no email, no contact. When I contacted the chat, I was told it was due to my "Excessive obligations relative to income," which makes no sense since this loan was to be used for that reason! To pay down some of my credit cards. They then stated that my score was 684 (once again, on my SoFi account dashboard, it still says 713). I have credit bureau credit check accounts to keep track of my credit and know that it is an untrue number. They also stated that: "Serious delinquency.The ratio of balance to limit on bank revolving or other rev accounts is too high.Lack of recent installment loan information Length of time accounts has been established". Once again, my accounts have 0 delinquencies. My accounts have been around for over 20 years. This is all false information, and when I stated that, they were rude and refused to look into these discrepancies. My credit has now gone down 34 points due to their Hard Inquiry. I would have never gone down such a lengthy path without their reassurance. They did not offer an alternative loan amount or any other options. They stopped communicating and stated it was my issue, not theirs. This is horrible customer care!
Business Response
Date: 12/07/2022
Please see Attachment
Customer Answer
Date: 12/12/2022

Complaint: 18471439

I am rejecting this response because:

Although the business responded, they falsely claimed they reached out to me with an agreement. The response was essentially an email template.
I would like a response from an actual person, and to receive the document they said they would be sending

Sincerely,

*********************************
Business Response
Date: 12/16/2022
Please see attached.
Initial Complaint
Date:11/28/2022
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 bank has put a freeze on my account an telling me they don't know when they will give me my money. I understand that I took a bad check from someone but its been resolved an I do not owe. Them any funds also they did not have a problem taking my direct deposit from my employer but they can't allow me to transfer on the remainder of my money this not right also every time I try to contact to speak with a supervisor I either get the same old scripted story about how's there no supervision over the customer service department or I get hung up on. Thank you very much for your help. ******* ************************* DOB 08/11/1968.
Business Response
Date: 12/07/2022
Please see Attachment
Customer Answer
Date: 12/07/2022

Complaint: 18470377

I am rejecting this response because:

Sincerely,

*******************
Business Response
Date: 12/10/2022
Please see the attached document.

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SoFi is NOT a BBB Accredited Business.