Loans
SoFiThis business is NOT BBB Accredited.
Find BBB Accredited Businesses in Loans.
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
- 2,304 total complaints in the last 3 years.
- 763 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:10/17/2022
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 responded to an apparent scam email from an infinite discount ( the place that charged my account) saying that I would receive a tool if I paid the shipping of $2.00. A few hours after the first charge I was charged $100. SoFi is refusing to give me my $100 back because they say the merchant has a correct address and the previous charge of $2.00. This is ridiculousBusiness Response
Date: 10/26/2022
October 26, 2022
Better Business Bureau
1805 *****************************, Suite 100
******, ** 78754
RE: BBB Case #********; *********************************
To whom it may concern:
We are in receipt of your letter received October 17, 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:10/17/2022
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 recently submitted a third party check to be cashed through my account. Sofi accepted the check with no questions or concerns. The following day I received an email stating my account has been frozen due to a concern with the check. I phoned them the same day to inquire. At that time I was told by one of their representatives they do not accept or cash third party checks. I was unaware. However I fully expected them to simply return or decline that transaction. I then received a second email stating that the check had cleared and the balance available, yet they still refuse to unfreeze my account so at this point they are holding every dollar I have to my name hostage. I can't cash the check elsewhere either because it's already been cashed. Makes no sense but I need access to my funds immediately. This has been ongoing for 5 days now. I just need my funds released. I have called several times with no progress.Business Response
Date: 10/24/2022
Please see the attached document.Initial Complaint
Date:10/17/2022
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 began the process of refinancing my Navient student loan ($47,772.22) with SoFi/Mohela in the spring of 2022. SoFi/****** allegedly issued a check to pay off my Navient loan on August 19, 2022. I periodically checked, and the pay off never appeared on my Navient account. At the end of August, I contacted SoFi/Mohela regarding what appeared to be a missing check. I was told they would investigate if it didn't clear within 30 days of being issued. By mid-September, 2022, it still hadn't cleared. I called SoFi/****** asking them to re-issue what I still assumed was a missing check. They told me they would need to investigate before it could be re-issued. At this point, SoFi started referring me to Mohela, as they said my loan was funded and it was no longer a SoFi issue. I started calling ****** directly, and they told me it was a SoFi issue. At some point, someone at ****** said they would do me "a favor" and open a report with SoFi and "escalate" the issue. It has now been 2 months since SoFi/****** allegedly issued a pay off to my Navient loan. Since that time, I have made numerous calls to both SoFi and Mohela. They continue to tell me it will be investigated and escalated, but nothing happens. I also received an email from SoFi/****** saying I needed to submit a W9 for them to do anything further. I see no reason for them to need a W9 to pay off the Navient loan. I am now forced to make 2 loan payments for the same loan - I'm still paying my monthly balance to Navient ($505.00) , and I'm now forced to make monthly payments to Mohela ($509.24). My credit report now reflects that I owe over $47,000 to BOTH Navient and ******. As a result, my credit score has dropped over 50 points in the past 30 days as it appears that I have 2 loans. I initially thought this was nothing more than a check "lost in the mail," but I'm now forced to conclude that this is a fraudulent scheme by SoFi/******, as neither entity will fix the problem.Business Response
Date: 10/26/2022
October 26, 2022
Better Business Bureau
1805 *****************************, Suite 100
******, ** 78754
RE: BBB Case #********; ***********************
To whom it may concern:
We are in receipt of your letter received October 17, 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********************** Corp
Initial Complaint
Date:10/14/2022
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.
Dispute #******* ($9.83) 1 item Dispute #******* ($10.08) 1 item Dispute #******* ($11.00) 1 item Dispute #******* ($1,689.89) ** items Returned via different dispute means: $51.54 #** of ** ($4.32)#** of ** ($1.99)#** of ** ($10.81)#** of ** ($10.81)#** of ** ($10.81)#** of ** ($1.99)#** of ** ($10.81)Returned to me from SoFi via 45 separate permanent account credits: $440.98 Amount unaccounted for: $1,228.28 These are the referenced dispute numbers and amounts along with some miscellaneous information that SoFi sent to me for/during this dispute process I started due to fraudulent activity happening to my account ending in 25**.I went on vacation to remote ********* in August of 2022. When I returned stateside on 10/02/2022, I learned that all of my accounts had been emptied including my investment accounts. Someone actually took over my financial accounts, amongst others, as if they were their own! I spent the next 2 days calling to have cards canceled and reissued. I started the dispute processes with the various institutions I am with including SoFi on 10/04/2022. Today, (10/14/2022) I had my debit card randomly leave my Apple Wallet; so, I called and found out they have CLOSED my account entirely and CLOSED my disputes as well! Today was the day that I was supposed to be getting the provisional credits for the remainder of what is owed to me due to their investigation not being entirely complete. I have bills just like the next American, so to have SoFi randomly close my accounts down during a dispute process is outrageous! Talking with the account manager, I was told that I needed to reply to the emails I received from their back office team. I informed her that I have sent 3 or 4 separate emails to them with absolutely no response back. The only thing I have gotten was what seemed like an automated email telling me that my account was closed and that was at 4:16pm today, 10/14/2022; all while I was on the phone with her!Business Response
Date: 10/21/2022
See document attachedInitial Complaint
Date:10/14/2022
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 August 10, 2022 I opened an account with SoFi Bank. After reading account details again, I decided to cancel the account, which I did the next day. They told me they would mail me a check for my initial account deposit and it would take 30 DAYS to reach me. WHAT??? OK, I'm stuck I guess. the 30 days go by and still no refund. After many calls to their customer service ***** they told me the check must be lost in the mail, and they will send me another one, which should reach me in 30 days. WHAT??? Whose mail system are they using that it takes 30 days to deliver an envelope, and why no check what happened to the first one? Did they send it to the wrong address, is it still in their mail room, ... what?BOTTOM LINE: HORRIBLE CUSTOMER SERVICE!!!!Business Response
Date: 10/19/2022
Please see the attached document.Customer Answer
Date: 10/20/2022
Complaint: 18225731
I am rejecting this response because:I have not received a response from the bank as referenced in the bank's response to the BBB. I also do not have my money returned. A bank should not be allowed to earn money on my deposit while taking months to return it by the US ************ Unacceptable!!!!
Sincerely,
***************************Business Response
Date: 11/02/2022
Please see the attached document. Thank you.Initial Complaint
Date:10/12/2022
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.
Sofi lending knowingly sold acct number ******** fraudulent account to LVNV funding (below are the two trade lines for the same account (see below). :1. SoFi show a zero balance for same acct. stating it is in collections 2. LVNV shows a$16,849.00 staying it is in dispute The law states that two companies cannot be collecting fir the same acct ! This Accts has been sold to LVNV so tjheregore SoFi must delete there fraudulent tradelines or ifbthru own the acct there can only be one owner! WHO OWNS THIS ACCT IBE MUST DEKETE NO BOTH THIS US NOT ABD HAS NEVER BEEN MY ACCT! Fraudulent Affidavit provided and received they are playing games if not removed I will be suing for $100,000 thus has defamed me, causing me to lose housing finances and more to date! There Accts info has been changed to suit them ! SOFI MIST REMIVE FROM SLL BUREAUS AS THEY HAVE SOLD FRAUD ACCT TO LVNV!Business Response
Date: 10/19/2022
Please see the attached document. Thank you.Initial Complaint
Date:10/11/2022
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.
This company has been called by me as well as have sent me collection letters for the last two years even during Covid on a SOFI lending Student Loan of which the balance is wrong. They have told me lies to scare me to settle the account even though the balance they state is wrong, violated Covid 19 rules on student loans that all collections should halt. They have stated to me that an offer to settle for $29,000 or so via writing over the last month or so is all they would accept to settle. I out of fear, ignorance and more made an offer settle for $12,000 offer which I do not have but was going to borrow to get them off my head even though the balance i owe is a lot less more like $10,000 or less. They denied this telling me they called or sent offer to Sofi and Sofi denied it. Then I made another offer of $17,000 then $18,000 all denied and told that Sofi denied the offers (their clients). I am suffering from a terminal illness and on verge of possibly having to file for bankruptcy. They have falsified documents, lied, misappropriated funds violated state and federal laws and more! They refuse to settle an account that is incorrect and uncollectable. All request for written denial of settlement offers have been denied and told that they cannot call me yet they have, they have sent me many collection letters over the last two years they state on behalf of SofI Lending. I need to know who owns this account them or Sofi which they say Sofi does. (PLEASE RESPOND IN WRITING ONLY TO ADDRESS ON FILE). Account number/file number ******* $72,254.54 sent me copies of court documents which I was never served with agreements that I never made basically falsifying information to me , the courts , SOFi and others. Who owns this account and why am i being told lies, harassed and served by the Sheriff for an account which has errors on balance which I have tried to settle in my time of illness and more.Business Response
Date: 10/21/2022
Please see the attached documentInitial Complaint
Date:10/11/2022
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 mobile deposit a check from a guy that I did work for and when I looked at the check, I realized it was fake. I already had submitted it and chatted with customer support to remove the check but they wouldn't and told me to wait. I received an email 3 days later saying the check is fraud. My account is still frozen and i can't use any of my funds. It been over a week of calling and I told them that the problem may be that I used my dads info such as his DOB and SSN but entered my name and they told me to get on the phone with my dad and do a realtime identity check with my ID. I submitted it, but haven't received any call back or notification since then. Please soFi, release my funds as this is a very serious and timely matter.Business Response
Date: 10/20/2022
Please reference the attached document.Initial Complaint
Date:10/11/2022
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.
It's been over a year. These folks have been lying telling me I will get my money. Then several months later. A guy said I have no records trading with sofi. I had a lot of cryptoit disappeared . Months later I find it. But yet no payment. I've been homeless starving and hungry. I'm in tears. I really want to *** these people. They have been stealing from me the entire time but yet lie and mislead me. Please help meBusiness Response
Date: 10/18/2022
Please see AttachmentInitial Complaint
Date:10/11/2022
Type:Customer Service 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 March 18, someone took $263 from my bank account. The bank said they was going to do an investigation and they decided not to give me my money back so I feel like its an inside job or they just dont care the bank, rob me how I see it.Business Response
Date: 10/19/2022
Please see the attached document.
SoFi is NOT a BBB Accredited Business.
To become accredited, a business must agree to BBB Standards for Trust and pass BBB's vetting process.
Why choose a BBB Accredited Business?BBB Business Profiles may not be reproduced for sales or promotional purposes.
BBB Business Profiles are provided solely to assist you in exercising your own best judgment. BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. However, BBB does not verify the accuracy of information provided by third parties, and does not guarantee the accuracy of any information in Business Profiles.
When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints.
BBB Business Profiles generally cover a three-year reporting period, except for customer reviews. Customer reviews posted prior to July 5, 2024, will no longer be published when they reach three years from their submission date. Customer reviews posted on/after July 5, 2024, will be published indefinitely unless otherwise voluntarily retracted by the user who submitted the content, or BBB no longer believes the review is authentic. BBB Business Profiles are subject to change at any time. If you choose to do business with this company, please let them know that you checked their record with BBB.
As a matter of policy, BBB does not endorse any product, service or business. Businesses are under no obligation to seek BBB accreditation, and some businesses are not accredited because they have not sought BBB accreditation. BBB charges a fee for BBB Accreditation. This fee supports BBB's efforts to fulfill its mission of advancing marketplace trust.