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.

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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

2,312 total complaints in the last 3 years.
774 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:11/05/2022
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.
They keep locking my bank account for unnecessary reason like its always something that they act like they cant respond to me nones whats so ever like thats my money
Business Response
Date: 11/09/2022
Please see the attached document.
Initial Complaint
Date:11/04/2022
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 applied to a loan from sofi for a personal loan yesterday and pass the soft & hard inquire of the application process;unfortunately,i was denied the application due to my identity could not be verified after i uploaded my driver license front to back and gave out all my credit card information for the purpose of the personal loan.I was wrongfully denied and would like to make a complaint as well as reversing my application denial to continue with the loan amount i was approved for. Also, the company never followed procedure to request additional documents to verify my identity through my email address nor through my sofi account.AGAIN, I was wrongfully denied and would like to make a complaint as well as reversing my application denial to continue with the loan amount i was approved for. I uploaded my driver license front to back and giving out all my credit cards information for the purpose of the personal loan. There were a few attempts when i had trouble gaining access to my account and asked to change my email address and was asked from different representative to verify my identity by uploading my driver license to the links provided through text message using the number that is on file. I was told i had to verify in order to change my email address to another email.After several attempts going back and forth with different agents in regards to updating my email address and several links been sent to my phone number on file, my application was wrongfully denied.I found knowledge of the denial of my personal loan application after finally gaining full access to my SOFI account with the email address on file. AGAIN, I would like my personal loan be granted through another application through the email ************************************ without the soft and hard inquire pull for the personal loan application and or reopen my personal loan account from the email ************************************ and reverse the application denial for all the misunderstanding
Business Response
Date: 11/08/2022
Please see the attached document.
Initial Complaint
Date:11/04/2022
Type:Delivery 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.
On October 21 I ordered $32.66 from ********* delivery app. I never received anything from *************. Around October 25 I filed a dispute with SoFi to get something done about it because I never received the order I placed. I want my money back. Its been past 10 days due for provisional credit. Nobody ever filed the dispute anyway apparently because the back office never notified me of the dispute being filed. Horrible customer service. You have to file cases with the bbb and the cfpb to get something done. They dont want to help me or anyone else out there who lives from paycheck to paycheck. Start helping us the consumers and then maybe well be happier keeping our money in your bank.
Business Response
Date: 11/08/2022
Please see the attached document. Thank you.
Customer Answer
Date: 11/08/2022
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:11/03/2022
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.
Hi i been a member of SoFi banking for a couple months now this there second time restricting my account for no reason they restricted it literally the next day I talk to 2 people that Tuesday a lady name ***** fixed my account but a couple hours later I got a email about my withdrawal saying it needed to go to the investigation team so I called SoFi and talked to a guy name ***** he said I couldnt send my money to my SoFi check I had to send it back to my back so he canceled my withdrawal why I was on the phone that Tuesday and said send it back to my bank so I gave it some time and did exactly what he said everything was all good until I woke up the next day about 1 something I reach a Email saying it was restricted again I really dont understand this and I have funds in my account I need I have a family to provide for they all you get to do is leave voicemails like Im tired of doing that i called like 20 times today and the security only lets you leave a voicemail the ********** is ***** the lady they referred me to again but she never answers she goes straight to voicemail everytime it took me like a month to talk to her the first time I just want my money in there this is so depressing right now
Business Response
Date: 11/11/2022
Please see the attached document.
Initial Complaint
Date:11/03/2022
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.
My $500k checking account was liquidated without my knowledge and consent by a computer error at Sofi. I was never contacted. In an effort to remedy the situation, Sofi has not been able to fix the software error, noted it would take 30 days for me to receive a check in the mail. When asked to overnight MY money and/or wire MY money, they said both were NOT an option with no further explanation.
Business Response
Date: 11/10/2022
Please see the attached document.
Customer Answer
Date: 11/13/2022

Complaint: 18356109

I am rejecting this response because NO explanation nor reparations were offered. I received a generic response which DOES NOT satisfy me.

Sincerely,

***********************, MD
Business Response
Date: 11/21/2022
November 21, 2022

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

RE: BBB Rejection Case# ********

To whom it may concern:

We are in receipt of your letter received November 15, 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:11/02/2022
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 reported fraudulent activity to my account requested new debit card never received change my password to my account did everything to protect my account fraud investigation team froze my account for 3 weeks now have not received a call had not access to my funds my calls are being ignored Im tired of waiting need access to money today cant talk to the agent in charge of my case now they are theatening to close my account and give me my money deposits into my account were my payroll checks I disputed transactions that got funded back to my account but can't access my funds for weeks now
Business Response
Date: 11/11/2022
Please see the attached document.
Initial Complaint
Date:11/02/2022
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.
In June of 2022, someone opened a credit card in my name with Sofi with a credit limit of $6500. I contacted Sofi in July when I noticed it. I have completed and returned all the documentation required and have a letter from them stating that have determined it to be fraudulent. However, to date they have not removed the account and it continues to impact my credit score. I have spoken with and emailed them, and am being told that there was never an account opened in my name, but it is still showing on my reports. I need this removed and they are not doing anything. I'm attaching all the documentation, as well as the email chain.
Business Response
Date: 11/04/2022
Please reference the attached document.
Customer Answer
Date: 11/05/2022

Complaint: 18346651

I am rejecting this response because the investigation was done months ago as the letter I submitted from SoFi confirms. They need to remove the account, and update the credit reporting agencies.

Sincerely,

*********************
Business Response
Date: 11/16/2022
Please see the attached document. Thank you.

Customer Answer
Date: 11/17/2022
Better Business Bureau:

The business has notified credit reporting agencies and the dispute is resolved. Thank you!

Sincerely,

*********************
Initial Complaint
Date:11/01/2022
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.
So Fi is reporting a Hard Inquiry on my credit report file. I've contacted an representative named **** on September 25, 2022 and she provided me with an reference number to support my claim#******* and I provided her with my name, address, and social security number. She couldn't find any credit card application nor any other account with that information I provided. This inquiry that is listed on my credit report file is fraudulent. I am requesting SoFi removed this off of my credit report file. I have attached the hard inquiry that's reporting on my Experian credit file. I'm contacting Better Business Bureau because SoFi has been stalling, disregarding the matter, practicing multiple acts of negligent, and defamation of character. Stating I applied for credit and I have no record of doing business with this organization.
Business Response
Date: 11/11/2022
Please see the attached document.
Initial Complaint
Date:10/31/2022
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.
Sofi misinformed me about my ability to use my credit card in ******** though I had asked them numerous times before I travelled and they ********** me that I can use my credit card while travelling abroad. Well low and behold, after I had transferred all of my financial services and had made my Sofi Credit card be my main charge card, as soon as I landed in Sofia, ******** and tried to use my credit card at the airport, my card was declined though I had warned Sofi where I will be using the card. Then the fiasco started with me spending numerous hours on the phone, making Intranational calls that costed me over $50, I was stranded in a foreign country without money and I thankfully have ****** a back up card that had very small credit limit of $300 vs SOfi credit limit of $5000. I had gotten the SOFI credit card ONLY for my international travel and because they did not charge foreign transaction fees. But because I was lied to by SOFI about being able to use the card, I had to pay transfer fees, atm fees and foreign transaction fees amounting of another $50+. ******* I missed out on earning at least $100 in points of using the card while traveling. My financial loses from being lied to by SoFi are over $200 not to mention the mental suffering that I experienced as all this stress and anxitety triggered my mental health disabilities and really turned what supposed to be a pleasauruble trip into to a hello trip. Thart is why I am asking SOFI to compensate me for at least 50% of my financial lose which I believe is reasonable given all the financial and menral suffering I went through caused direclty from SOFI misinformation and mishandling of my account.
Business Response
Date: 11/09/2022
Please see the attached document.
Initial Complaint
Date:10/29/2022
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.
In december 2020 a sofi account was opened in my name, not by me. Towards the end of the month there was a $15 Amazon charge. A few days later, 3 charges for $60 Amazon gift card was attempted and declined automatically. Following that incident, I contacted Sofi towards the endof December regarding the issue. At that time I was told it was being investigated and the account was frozen . In February 2021, I called for f/u because I had not heard anything. At that time I was given a case number (*******, ******************************************* and instructed to email a specific email address fore updates. I sent emails on 3/16, 6/13, 6/29 to the address given. I NEVER received a response. So, in June after emailing I called Sofi, the representative provided no update and no information and said I would get a call back or email with information. Never received. In June, I called again. I spoke with a female repsentative who stated the $15 charge which by this time was over $175 was a legitimate charge. I reminded her that I never opened the account and avbout the 3 $60 charges ands asked what research was done. She stated none and that a supervisor would give me a call with information. I never received that call or an email. I submitted fraud alerts on experian too. SOFI has recently sold the debt to a collector. They have allowed the $15 fraud charge to become over $260 and then sold it to a collector after being notified of fraud.
Business Response
Date: 11/08/2022
Please see the attached document. Thank you.
Customer Answer
Date: 11/09/2022

Complaint: 18331310

I am rejecting this response because: it is still pending and I have no confidence in their ability to resolve this.

Sincerely,

*****************************
Business Response
Date: 11/21/2022
Please see the attached document. Thank you.
Customer Answer
Date: 11/23/2022

Complaint: 18331310

I am rejecting this response because: Sofi has FAILED to provide any evidence or justification for their claim. I have asked for justification and evidence over 10 times. I have called over 10 times. I have emailed over four times even after this complaint was submitted. They have failed to provide any evidence that there is no fraud. I called them because they denied three $60 charges Shortly after the $15 charge furthermore, during none of those 10 calls and no responses from emails was I instructed to pay the fraudulent $15 while the investigation was going on. They allowed $15 under fraud investigation to accumulate to 260 something dollars they then sold this money to a collection agency , without ever closing out the claim by providing the appropriate evidence to justify it I do not have access to their systems to follow the transactions. They do, and they failed to do their due diligence and provide customer reassurance for bad actors. I have contacted the third party collection agency as well and will proceed with legal action because this may be a class action lawsuit if theyre doing this too many people

Sincerely,

*****************************

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SoFi is NOT a BBB Accredited Business.