Business Profile

Loans

SoFi

Headquarters

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
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.
764 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:09/07/2022
Type:Product 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.
Transferred money from sofi to external bank, the external bank system had problem( not sofi's problem), so the money was returned back to sofi at the same date (Aug 16th), normally took about 3 business days for money back to account, waited until Aug 25th, nothing happened.Contacted agent, issued a ticket, and also got email about the ticket, in the email said would take up to 3 business days, nothing happened. Email 3 times, no response. ******* and called, all told me " have to wait". It has been 20 days, where is my money, also do I get interest for this period?
Business Response
Date: 09/13/2022
Please see the attached document.
Customer Answer
Date: 09/16/2022

Complaint: 17929644

I am rejecting this response because: As today, I did not receive any email or letter from sofi

Sincerely,

***************
Business Response
Date: 09/26/2022
Please see the attached document. Thank you.
Customer Answer
Date: 09/28/2022
Better Business Bureau:

I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is not satisfactory to me, but decided to close this case.

Sincerely,

***************
Initial Complaint
Date:09/07/2022
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 is advertising intro offers for some of their financial products and I still haven't been compensated $725 total for achieving all of the qualifications. Have attempted to call SoFi 7 times but reps are not helping with this issue.Offer #1:SoFi ****************** $325 Signup Bonus (Nationwide; Requires $5,000 Direct Deposit)Link: https://www.sofi.com/invite/money?gcp=f6495648-35aa-486e-8349-68b6a18f9c5c&isAliasGcp=false Offer #2:$300 Sofi Credit Card - Spend $1500 & add $100 to a new ****************** and Active Investing Account Offer #3:$100 in Bitcoin Sofi Crypto - Purchased $5000+ of Crypto in Crypto Invest Account Total Payout = $725
Business Response
Date: 09/16/2022
Please see the attached document.
Customer Answer
Date: 09/16/2022

Complaint: 17927336

I am rejecting this response because:

SoFi is advertising intro offers for some of their financial products and I still haven't been compensated $725 for achieving all of the qualifications.

Offer #1: ($325 LEFT)
SoFi Checking & Savings $325 Signup Bonus (Nationwide; Requires $5,000 Direct Deposit)
Link: https://www.sofi.com/invite/money?gcp=f6495648-35aa-486e-8349-68b6a18f9c5c&isAliasGcp=false

Offer #2: (PARTIAL $200 CREDIT GIVEN, $100 LEFT)
$300 Sofi Credit Card - Spend $1500 & add $100 to a new ****************** and Active Investing Account

~~Offer #3: ($100 RECEIVED IN FULL)~~
~~$100 in Bitcoin Sofi Crypto - Purchased $5000+ of Crypto in Crypto Invest Account~~

Offer #4: ($300 LEFT)
$300 for Personal Loan Referral to *********************

Total Payout = $300/$1025
SOFI OWES $725

Sincerely,

*****************************
Business Response
Date: 09/28/2022
Please reference the attached document.
Initial Complaint
Date:09/06/2022
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 was informed that my new checking account direct deposit bonus is being denied due to a previous Money account bonus, however the terms and conditions at the time I opened my new Checking and Savings account, which I had provided a screenshot of, had no mention of excluding SoFi Money account holders who previously received a bonus or had direct deposits under the legacy SoFi money program. I only received direct deposits in my previous SoFi money account, which may have been previously automatically afterward upgraded it seems. This was my first time opening a new Checking and Savings account and received the qualifying direct deposits in that account to earn the bonus per the terms and conditions valid on the day I opened the account. In fact the original chat rep who opened the ticket for this Sintya R, confirmed my bonus eligibility and my qualifying direct deposit transactions, and stated the ticket was to "manually add the bonus". It seems SoFis interpretation of their own terms and conditions is so confusing even different reps have different understandings of it. With this in mind, I hope that honoring the bonus can be reconsidered so that a positive relationship with SoFi can be maintained.
Business Response
Date: 09/12/2022
September 12, 2022

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

RE: BBB Case #********; *******************************

To whom it may concern:

We are in receipt of your letter received September 06, 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.

Customer Answer
Date: 09/14/2022

Complaint: 17926911

I am rejecting this response because: The terms referenced in the letter from SoFi do not state that previous *************** direct deposit bonuses disqualify from the promotion, only previous Checking & Savings account direct deposits, which I did not have per their own letter.

Sincerely,

*******************************
Business Response
Date: 09/19/2022
Please see attached.
Customer Answer
Date: 09/21/2022

Complaint: 17926911

I am rejecting this response because: The terms referenced in the letter from SoFi do not state that previous *************** direct deposit bonuses disqualify from the promotion, only previous Checking & Savings account direct deposits, which I did not have per their own letter. I have mailed back the consent form.

Sincerely,

*******************************
Initial Complaint
Date:09/01/2022
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've been trying to get added to a shared bank account for days. Sofi rejects me. I contacted customer support by chat. They didn't read what I wrote, kept using !!! at the end of every sentence, told me they could not do the work for me, and were unable to help me. Then I called support. They told me the issue was with the address on file at one of the credit bureaus. When I called the bureau, they said the issue was that "Drive" was included where it should not have been, so it was on there twice. I have lived at my address for 30 years. I have bought many vehicles. I have credit cards. I have opened other accounts. I have NEVER had an issue because people confirm that the information is the same. At SoFi, apparently it's a bunch of idiot robots. SoFi acts like they want you to set up an account, but if they really did, they'd have some way to review this. Now I have to wait days to set up an account because it takes up to 72 hours for the correction to be made. This may mess with my ability direct deposit. But maybe that's SoFi's objective: bring you in with a bonus for direct deposit in the first month, but make it as difficult as possible to add the accounts, and do not offer actual assistance or review as part of sign-up, so then they get your $ but don't have to pay out the big bonus because it can go past the bonus window. Worst banking experience of my life! Maybe local banks with lower yields are the way to go after all.
Business Response
Date: 09/09/2022
Please see the attached document.
Initial Complaint
Date:08/31/2022
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.
Sofi is refusing to honor their terms and conditions for a credit card sign up bonus. Through March to ****** through an affiliate website that Sofi has promoted with Credit Karma, they were offering a deal where if one gets approved for their Sofi credit card and spend $1500 within 3 months, Sofi will give 20k rewards points ($200 cash). I applied and got approved in May (refer to link https://www.doctorofcredit.com/sofi-2-credit-card-now-comes-with-100-signup-bonus-ends-4-30/). I met the minimum spending requirement by June 15. Their terms and conditions says they will provide the points within 45 days of meeting the requirement. I made a call 1-2 weeks after meeting the requirement because typically, any other bank has instantly gave me the reward points for other cards/accounts. The customer representative said to wait longer I made another call one week before the 45 days were up and I was told the points will be distributed by the week after when 45 days hits, but nothing happened. I made a 3rd call on the 46th day where the customer representative created a ticket for someone to resolve my situation, but did not tell me when, who, or how I would be notified. I called a week alter where a different customer representative told me my ticket was misfiled so a new ticket would need to be created. I then placed my fifth call, which is 15 days past the terms and conditions Sofi outlined for me to receive points, where another representative told me my ticket was rejected on 8/11/22 and was given no reason. This representative created a new ticket for me.A week later (last week actually), I made my 6th call to Sofi where I was told I would just have to wait. There is no order or system whereby their rewards team will get to see my ticket because they do not know. I believe my case is urgent due to Sofi breaking their own terms and conditions. It has now been 75 days since I met the requirements where the credit karma link changed.
Business Response
Date: 09/06/2022
Please see attached.
Customer Answer
Date: 09/06/2022

Complaint: 17809090

I am rejecting this response because: I did not receive a disclosure consent form from the company. I did receive the points but only because the rewards team manually did it versus being as a result of the credit karma promotion. This runs counter to the many times their customer service team told me they could not do anything yet it took a BBB complaint to force sofi to do something. There was no communication, no form, no apology, or even a valid explanation of why it took them this long.

Sincerely,

*******************************
Business Response
Date: 09/13/2022
Please reference the attached document.
Initial Complaint
Date:08/31/2022
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 gave a denial of the money that was stolen out of my account because the 1 vendor had my address. something easily obtained while stealing my card online. NO call to myself was even attempted.these 3 companies are in *******, ******** and whow knows where else so I do not see my shopping as being normal in my everyday shopping (it is not)please help me get the money they took from me.
Business Response
Date: 09/07/2022
See response attached
Initial Complaint
Date:08/31/2022
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 set up direct deposit with SoFi. The funds were from the State of Illinois Unemployment. I contacted SoFi customer service and was informed the funds would be available in 2-3 days. I requested to speak with the agents manager. The manager confirmed SoFi holds direct deposits from the government for 2-3 days. I asked the manager how I can submit a complaint regarding this issue and the manager could not tell me how to file a complaint. I researched how to file a complaint I contacting your organization is the only way I am aware of. Are you aware of a way I can contact senior management at SoFi AND can SoFi hold government funds for 2-3 days?
Business Response
Date: 09/09/2022
See response attached
Initial Complaint
Date:08/31/2022
Type:Order 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 referred my own sister, but the referral did not go through, after speaking with a rep, I was told she already signed up when she clicked the link, which she did not as I was there to go through the entire process, what frustrating business practices, its definitely a huge bait. Extremely frustrated, I used to be a huge promoter of the app but now I will start telling people to stop using such shady and cheap app.
Business Response
Date: 09/06/2022
Please see attached document.
Initial Complaint
Date:08/29/2022
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.
Im the loyal customer of ********************** banking for more than 1.5 years, and On august 8th 2022, I lost my debit card and also I lost more than $2,000. I contacted the bank on August 11th I contacted the bank and told them i lost my card and had $2,000 of fraudulent charges. I had saved that money to pay my tax payment. Instead of the bank helping me get my money back the bank closed my account citing a false reason.
Business Response
Date: 09/06/2022
Please see the attached document. Thank you.
Initial Complaint
Date:08/29/2022
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.
Fraudulent charge on credit card in early February wasn't reversed and fully settled until May 31. There really isn't much more to say. The issues that you will arise with will only be resolved if you can get your complaint to go up the chain of customer service representatives. My case only made progression after I emailed the *** of Sofi, who was able to forward my complaint to one of the top complaint managers at Sofi. The company also admitted to lying on their credit card pre authorization forms to me over the phone -- flat out told me that they made it intentionally misleading in order to make more customers sign up for Sofi credit cards. If you did one of those Sofi credit card forms that says "See if you're pre-qualified" and you did qualify, your credit would automatically be ran and you would be issued a Sofi credit card, Sofi account, the whole shebang. You can probably guess why I signed up for their credit card in the first place (because of their fraudulent and predatory pre qualifying forms.) Anyone who has had to deal with Sofi knows that you can talk to a representative pretty quickly, but their representatives are less than helpful. You will be sent to department, after department, after department. Honestly if you just keep the contact information of ************************* <***********************************> a very high up customer service representative at **********************, you'll be golden. But of course, that is just not reasonable. You will not be directed to ****************** unless your complaint manages to climb the sea of other complaints or is seen as urgent for some reason. I also learned throughout this whole debacle, that Sofi gets incredibly scared if you tell them that you will not visit Sofi Stadium in *********** due to the companies practices. I assume they have some deal with the stadium owner, since Sofi Stadium is just a name and Sofi doesn't actually own the stadium or anything. It seems like the stadium owner doesn't want dissatisfied Sofi customers affecting sales.
Business Response
Date: 09/06/2022
Please see attached.

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SoFi is NOT a BBB Accredited Business.