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
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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

2,304 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:08/29/2022
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.
Similar to the other complaints listed here for this company, they appear to not be interested in protecting people from identityh fraud. When I questioned them about an account someone else opened in my name they said they would send it to their fraud division but some how instead on that same date the mailing address for my supposed acount was changed, again without any verification on their part.
Business Response
Date: 08/31/2022
Please see attached.
Customer Answer
Date: 09/01/2022
Better Business Bureau:

I have reviewed the response made by the business in reference to complaint ID ********, and they said they would look into it so neither acceptable or not-acceptable, just waiting.

Sincerely,

*************************
Initial Complaint
Date:08/29/2022
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.
Hello and thank you in advance for reading my complaint. In Feb 2022 I applied for a credit card to up my credit limits, I have good credit and used the suggestions thru credit karma and applied for a SoFi credit card, I was approved with a 10k limit, I never received the card and forgot about it, Easter Sunday I get a bill in the mail for just under **** , I called in the following Monday, I find out that there was fraudulent or suspicious activity taking place when the card was activated and it was sent to the SoFi *********** a freeze or close was put on the account, not sure, there were not very clear or specific , could not get beyond anyone in collections to speak with. To date, I have over 15 phone calls, and over 30 emails with this company, I am told to email the fraud **** and I do that as well, not getting anywhere, today I called in 8-29-2022 and asked to speak with their legal **** and they informed me they do not have one, they did expidite a complaint for me, but to whomever gets it I don't know. I never received this card nor activated it, they made me aware of the fact they know this. I want it off all three of my credit reports and they are not willing to move it along, it has been over 4 months to date. I am sorry to burden you with my story, but this company needs to be made accountable . Thank You Again, *************************
Business Response
Date: 09/06/2022
Please see the attached document. Thank you.
Customer Answer
Date: 09/07/2022

Complaint: 17790116

I am rejecting this response because: I see the message that was sent , it was sent to the BBB and not to me, it clearly states that they will send me a consent form to sign and then I need to return it to them and they will in return contact you, all this is 5 days, Im not seeing that. I would like to close the case with the BBB at this time. The day I filed this I also called SoFi again and I asked to be put in touch with their legal **** , and then I was able to file a claim against them, they got back to me in less then **************************************************************** that 3 letters would be sent out to the 3 credit bureaus and removing any and all negative marks on my credit report. Hopefully they will follow through as promised. Thank you BBB for your kind help. *****

Sincerely,

*************************
Business Response
Date: 09/13/2022
Please see the attached document.
Customer Answer
Date: 09/13/2022
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:08/28/2022
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.
filed a dispute on my sofi checking account ending in **** for this transaction below and still have not recieved the provisional credit back into my sofi account for the unauthorized *********** debit of ****** on july 24, 2022 transaction even after 10 buisness days after dispute. no one should wait even 3 days for an unauthorized dispute charge reported. my money should be back into my account immediately for unauthorized charge.Jul 24 *********** CARD PYMT Debit Card -$****** Transaction. Date: July 24, 2022. Description: *********** CARD PYMT . Amount: -$******.Dispute Status:In Progress Amount -$****** Merchant *********** CARD PYMT Terminal location *********** CARD PYMT, ***********, VA Terminal ID ******** Date authorized Jul 22, ******************* ************
Business Response
Date: 09/02/2022
September 02, 2022

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

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

To whom it may concern:

We are in receipt of your letter received August 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.

Customer Answer
Date: 09/03/2022
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.

sofi did credited my account of the disputed charge i consider this case closed satisfactory.
Initial Complaint
Date:08/26/2022
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 Sofi Credit Card account was opened up under my name, and is past due with an $8,000 balance. This account and a duplicate account with a different account number are both being reported negatively on my credit report. This has been reported to Sofi, the Credit Bureaus, and an Identity Theft Affidavit to the **** Sofi still has done NOTHING to remove the account. The suspect who commited the fraud lives at the address they provided to the bank in **** and their phone number was also provided. This needs to be rectified and removed from my credit. I have also provided the *** Identity Theft Affidavit again for your records.
Business Response
Date: 09/02/2022
Please see the attached document.
Customer Answer
Date: 09/02/2022

Complaint: 17782721

I am rejecting this response because:
They have not resolved the issue or contacted me with the mentioned form.

Sincerely,

*********************************
Business Response
Date: 09/13/2022
Please see the attached document. Thank you.
Customer Answer
Date: 09/13/2022

Complaint: 17782721

I am rejecting this response because:

The fraudulent account has not been handled or resolved and is still being incorrectly reported on my credit report.

Sincerely,

*********************************
Initial Complaint
Date:08/26/2022
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 places a freeze on my account and wont help me close it.
Business Response
Date: 08/31/2022
Please see the attached document. Thank you.
Initial Complaint
Date:08/25/2022
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.
I opened an account in May with SOFI. This was a credit card account that I used only 7 seven during May 2022. I wanted to close the account after paying the complete balance off of 738 dollars to buy a home but now for the last 4 months the customer service department says the card is in their fraud department and there is nothing I can do about it till hearing back from the fraud team. The problem is, there is no contact number to reach the fraud team. I have emailed the fraud team for 4 months and have still yet to hear back from them. This is completely unethical on their part. No number to call them and the emails sent to them to close account have gone on fear ears. I have yet to hear anything about this account. I want the credit card cancelled immediately so I can buy a home and they will not answer back. Four months I have waited. What kind of fraud team is this?
Business Response
Date: 09/01/2022
Please see the attached document
Customer Answer
Date: 09/02/2022

Complaint: 17770605

I am rejecting this response because:
They could have simply responded by saying they will close my account. Instead, they are still making this difficult as to say they will send a disclosure form and response to the consumer. Why not say: Dear BBB, we will oblige or do as the consumer request to satisfy this complaint. See, this is where I am today just like since May. They are still dancing around the fact I need this account closed, I do not owe any money, and they are aware this is negatively affecting my ability to purchase a home I had my eye on. I wish I could say something better about this company, but I hope people in future are aware that SOFI has no contact number for their fraud team and if they freeze and account and refuse you to allow it to be closed, you will have no way of contacting someone and having your demands met. They do have a customer service team, but they can only tell you there is nothing they can do about this as there is no number only an email available for you to contact someone in the fraud department. By the way, even if it is in the fraud protection, I have paid the card off, and wish to have it cancelled. Why can't they do this for me? I do not care if it is fraud as the card is cancelled and done for. No one can use. Just a lot of mess from them to punish me and hopefully people will see this experience and stay away. Thank you.
Sincerely,

*****************************
Business Response
Date: 09/14/2022
Please see the attached document.
Customer Answer
Date: 09/14/2022
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:08/24/2022
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.
We are a sofi customer. As a result, we are supposed to have the administrative fee waived. This was not present in the original disclosure but then showed up in the final disclosure. Due to time constraints (it was an overall bad experience), we opted to close the loan vs. kill the deal and sort through the refund process. We were promised twice this would be resolved through the loan officer. It has been 5 weeks since closing and it has not been taken care of. ***** has been no recourse through phone calls and emails. I called the mortgage support line and they said they are not able to do anything with the loan closing and have to go through the original team. The original team was very difficult to get a hold of, except through that number but since it is closed - my options are limited.TLDR: Sofi currently owes me $995.
Business Response
Date: 08/30/2022
Please see the attached document. Thank you.
Initial Complaint
Date:08/23/2022
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.
I am a client of Sofi and recently could not login to my account. My verification code was being sent to an old phone number that I no longer have access to. I called to have my phone number updated. Sofi required me to use Intellicheck, via a link sent to my new phone number. Intellicheck directs me to submit a photo of the front and back of my driver's license and a selfie photo. However, the selfie process continues to time out on Intellicheck. I have been without access to my bank for over a week, and Sofi has no solution other than for me to continue trying the Intellicheck process with new links sent via text. Is this legal? Their software doesn't work and I don't have access to manage my money. It seems like their system is broken and they don't have a plan to fix it.
Business Response
Date: 08/31/2022
Please see attached.
Initial Complaint
Date:08/20/2022
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 applied for a loan through this company. They have rejected my paystub twice and my employment verification once.They cite that my employment verification must be submitted by my employer. Which it was as I am the president of my company, so I should know that it was submitted correctly. If this company does not wish to do business with me, then I wish my credit report be correct to reflect no credit inquiries by this company.
Business Response
Date: 08/24/2022
Please see document attached.
Customer Answer
Date: 08/24/2022

Complaint: 17746909

I am rejecting this response because: This matter can very well be handled through the BBB. There is no need to mail out forms. A simple "Yes, we will do this" or "No, we will not do this" is all that is required.

Sincerely,

*****************
Business Response
Date: 09/02/2022
September 02, 2022

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

RE: BBB Case #******** ;*****************;
To whom it may concern:

We are in receipt of your letter received August 30, 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
**********************

Customer Answer
Date: 09/08/2022

Complaint: 17746909

I am rejecting this response because: Once again, SoFi can communicate DIRECTLY through the BBB. I will NOT respond to requests through the mail nor will I sign anything sent through the mail in regards to any "disclosures".

Sincerely,

*****************
Initial Complaint
Date:08/20/2022
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.
Topic: Taking Money Date: July 30th, 2022 - first attempt August 4th, 2022 - second attempt Reason: I put in my first $500 to pay off my credit card bill. They took the money out of my account but then sent a message that I didn't have sufficient funds - even though they just took it out of my checking account! They did return the 500 that they took so I decided to resubmit the $500 on August 4th. The second time they received it they confirmed they got it but my credit balance didn't go down. I called several times to ask if the money actually went through because my balance was still at $800. I kept being told that my payment was already received but it didn't reflect my account so they took 500 from me and didn't lower my credit balance.I've tried several times to discuss the issue but just kept getting the same answer. I'm just looking to pay off my credit card bill with them and then shut down my account because they just keep declining my bill payments and taking more and more money.I'm willing to provide documents on the matter but most of the information is on SoFi's side so I'm not too sure how to fully get it. I asked them for a credit report but they told me that they didn't have that information
Business Response
Date: 08/24/2022
Please reference the attached document.

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SoFi is NOT a BBB Accredited Business.