Complaints

This profile includes complaints for SoFi's headquarters and its corporate-owned locations. To view all corporate locations, see Find Local Branches.

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• 

  SoFi

  San Francisco, CA 94105-2624

• 

  SoFi

  2750 E Cottonwood Pkwy Ste 300 Salt Lake City, UT 84121-7285

• 

  SoFi Finance Inc.

  1412 Broadway, FL Team Room 5 New York, NY 10018

• 

  SoFi

  SoFI Mailroom Operations 2750 East Cottonwood Pkwy, Suite 300 Cottonwood Heights, UT 84121

• 

  SoFi Finance Inc.

  860 Washington St Fl 2 New York, NY 10014-1308

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:03/04/2025

  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.

  After recently reviewing my credit report from your company, I noticed several inaccuracies that need to be addressed. The accounts in question are listed below:Company Name: 12 SOFI BANK N A Account #: ********* Balance: $48,792.00 Under the Fair Credit Reporting Act (15 U.S.C. 1681g), I am formally requesting copies of all documents in your records that were used to verify the accuracy of these accounts. Please provide these documents in your response to this letter.I respectfully ask that you do not reply with a generic statement claiming the accounts have been verified. Instead, I expect to receive the actual records supporting this verification. If no such documentation exists, these disputed accounts should be removed from my credit report immediately, as required under Section 611(a)(5)(A)(i) of the FCRA.Including unverified or inaccurate information on my credit reportand continuing to share it with third partiesunfairly damages both my credit standing and my reputation. I ask that you take this matter seriously and resolve it as soon as possible.

  Business Response

  Date: 03/13/2025

  Please see the attached document. 

• Initial Complaint

  Date:03/04/2025

  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 had an account with **********************. I had my phone stolen and fraud occurred in my account. I would like to have a certified account, but now theres some kind of amount owed on my account. I dont mind paying, but I would like to know if I pay would I still be able to open up a new account?Any help is greatly appreciated!

  Business Response

  Date: 03/13/2025

  Please reference the attached letter.

  Customer Answer

  Date: 03/14/2025

   
  Complaint: 23017395
  
  I am rejecting this response because:

  Why are they sending me a response by mail? They could easily respond by email or phone number. I wont know if my situation is resolved for days now.
  
  Sincerely,
  
  ****** ***********

  Business Response

  Date: 03/20/2025

  Please reference the attached letter.

• Initial Complaint

  Date:03/03/2025

  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.

  There is a hold of $75.00 on my checking account since 02/24/25. Today is 03/03/75. I have contacted both SoFi and ******* and neither will remove the hold on my money

  Business Response

  Date: 03/13/2025

  Please reference the attached response

  Customer Answer

  Date: 03/21/2025

  There is a $75.00 hold on my SoFi checking account since 02/24/25 and today is 03/03/25. I contacted both ******* and SoFi via a conference call and neither of these companies assisted in removing the hold despite the fact ******* can see and admitted it was a voided transaction

  Business Response

  Date: 03/27/2025

  Please reference the attached response.

• Initial Complaint

  Date:03/03/2025

  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've had a student loan through SoFi being serviced by ****** since I was in college, over a decade ago. SoFi recently sent out emails (no snail mail) to inform their borrowers that ****** would no longer service their loans. They indicated that on 02.21.25 our loans would be transferred to the SoFi account manager and that we could access them by logging in with the same login info from ****** after that date. I logged into ****** to confirm that my account was deactivated, and it was. I then went to SoFi to establish my account and access my loan and they did not have my information on file. I created an account under the credentials that I had saved under my Mohela account, and found that my loan did not exist on SoFi. I reached out via email and got an answer to a question I didn't even ask. I then called customer service to ask them to help me access my account. The representative took me through a process of verifying information, which I successfully did, and when we reached the point of giving me my login credentials the representative told me that the email and address I provided him were incorrect, even though this information was totally up to date on my Mohela account. I was informed that SoFi created an account on my behalf using the credentials that were given when I initially signed up for the loan over TEN YEARS AGO. That would be my student housing and my school email address, which both no longer exist. I was informed that there was absolutely no other way to access my account than by having my deactivated school email access and my student housing address to be able to give me my own account information despite correctly answering all security questions and providing 10 years worth of previous addresses and personal information. I am now effectively locked out of my account, and ********************** has initiated auto-pay on my account so I am being forced into paying a balance that I did not consent to and I have no way to manage that information.

  Business Response

  Date: 03/12/2025

  Please reference the attached letter.

  Customer Answer

  Date: 05/06/2025

  This is my second filing for the BBB against SoFi this year. Compounded with the fact that they could not figure out how to migrate their own account holders from the Mohela servicing system to their own SoFi system without defaulting users to legacy information effectively locking users out of accounts, Ive also just discovered that SoFi has been sending my private account information, via snail mail, to my cosigner!! I received a text message from my cosigner showing a photo of a paper statement they had received in the mail, addressed to themselves, and addressing themselves as the account holder, which contained all of my personal financial information including the following: borrower number, loan number, autopay amount, personal bank account number and personal bank account routing number. There is absolutely no reason my cosigner should be receiving ANY information about my personal bank account nor the amount of money I'm paying on my SoFi loan if Im in good standing, nor be receiving statements informing them of changes I am making to my autopay! They are only there as a fallback for responsibility if I am unable to, or intentionally, not making payments. This is a complete misuse of information and a breach of my privacy. I have no way of preventing these statements from being mailed to my cosigner as this is not a setting in the application. My account has been up to date for years. This was not happened before they switched from ****** as their servicer. Additionally, through researching this issue I found this malicious privacy option automatically turned on in my privacy settings, Allow SoFi to use your sensitive personal information for purposes that are not reasonably necessary to provide the service(s) you are requesting. I am submitting this report as evidence of misuse of account holders private information by SoFi and am demanding an explanation and a resolution to this despicable business practice.

  Business Response

  Date: 05/13/2025

  Please reference the attached letter.
  
  

• Initial Complaint

  Date:03/02/2025

  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 February 25, 2025, a $196.60 transaction with JetBlue was preauthorized on my SoFi account. The charge has already posted, yet SoFi refuses to remove the hold, despite their policy stating:Once the final payment amount is received, the preauthorized amount on hold will be *********** SoFi is Misinterpreting Their Own Policy:Falsely Claiming the Merchant Controls the Hold: SoFi states ******* controls the hold, but ******* confirms they do notSoFi is the one placing and maintaining it.Ignoring Policy on Hold Removal: SoFi's policy states preauth holds must be removed when the final charge posts. My charge posted, yet the hold remains.Providing False Transaction ID Information: ********************** claims pending transactions dont have Transaction IDs, but my account shows the same ID for both the pending and posted transactions.Setting Arbitrary Hold Expiration Dates: SoFi says the hold will expire on March 8, 2025, proving they can remove it but choose not to.Resolution Requested:Immediately release the invalid hold and return my funds.Provide a written explanation for the policy misinterpretation.Ensure proper employee training to prevent misleading ********************************* refusal to follow its own policies is causing financial harm. I request that the BBB investigate and hold SoFi accountable for improper banking practices.

  Business Response

  Date: 03/12/2025

  Please reference the attached letter. 

• Initial Complaint

  Date:03/02/2025

  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 wanted them to inform people about their holds or system flaws. I needed to get money immediately for gas and food for the kids, but my card wasn't accessible. So, I transferred it from my **** account to my ********************** account. Usually, it tells you if it is instant, when it will be available, or how much it'll be to transfer. I wasn't told during the transaction receiving the money would take nearly a week because of the weekend, even though it was Tuesday night or early Wednesday morning. From 02/26/25-03/04/25. The so-called account managers were rude and offered little to no help. They could not even access my account to provide the information needed, only to say what I had already read. Then, they started to insinuate what I was trying to accomplish, saying they were sorry I did not get the outcome I wanted, but I reached the end of the line and finished by stating there was no one above them. Being sarcastic when you don't know what someone is going through.

  Business Response

  Date: 03/12/2025

  Please reference the attached letter.

• Initial Complaint

  Date:03/01/2025

  Type:Billing 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.

  I recently opened an account with ********************** Bank and transferred my direct deposit from my previous bank. On February 28, 2025, I received an email from SoFi alerting me that a new bank account was linked to mine, which I did not recognize. Concerned, I immediately contacted customer support, and they opened an internal investigation.Shortly after, my account was restricted without prior notice, leaving me unable to access my paycheck and pay essential bills. I called SoFi again and was told:- There is no timeline for the review process.- They cannot escalate my case or provide a supervisors contact.- My funds will remain inaccessible indefinitely until the investigation is completed.After further research, I realized the flagged transaction was a legitimate transfer I made to my ******************* account, facilitated by **************. I immediately called SoFi back to clarify, believing this would resolve the issue. Instead, I was told nothing could be done and had to wait indefinitely.I have called multiple times, each time receiving the same response. On March 1, 2025, I requested closure of the investigation and reinstatement of my account. The representative again refused to provide a contact for the review team or any estimated resolution ******* this point, I have no access to my own money, despite proving the transaction was authorized. This has caused serious financial hardship, as I am unable to pay rent or other obligations.SoFis actions demonstrate unfair banking practices, they have frozen my funds with no explanation, refused to escalate my case, and failed to provide a resolution timeframe.

  Business Response

  Date: 03/11/2025

  Please reference the attached response. 

  Customer Answer

  Date: 03/14/2025

  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:03/01/2025

  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 transactions took place on January 3rd, 2025. I filed a dispute, they restricted my account. Didn't tell me I couldn't get the rest of my money out. I was broke. My only income is under a ******* a month. I'm a senior citizen on Social Security. I called them begging to get the rest of my money, ******. They said they were going to close my account and send me a check. This is March 1st, 2025. It is still restricted. This is unacceptable! I don't know who to contact to resolve this. I have lived in the upstairs of a friend's house since June. I'm trying to get back on my feet, find an apartment. I need this money!

  Business Response

  Date: 03/11/2025

  Please reference the attached letter.

• Initial Complaint

  Date:03/01/2025

  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 sofi account has been locked since 2022 with a balance of 518$, I wanted my account restored and/or money refunded back to me, this been going on for three years

  Business Response

  Date: 03/11/2025

  Please reference the attached letter.

• Initial Complaint

  Date:02/28/2025

  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.

  Had Sofi do a brokerage acat transfer to ******* edge in feb 2023.Merill edge is stating sofi has not sent the cost basis information over.I contacted starting week of feb 18 sofi and ******* over 10 attempts to resolve.******* edge has claimed Sofi still has not sent over cost basis to update 1099b form.

  Business Response

  Date: 03/10/2025

  Please reference the attached letter.