Business Profile
Loans
SoFiHeadquarters
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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 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:08/19/2022
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.
Sofi decided to restrict my account for no apparent reason. This was after I received the first of 2 direct deposits. I called 4 times providing the information they required to remove any restriction that would block the second deposit. At their discretion they decided to allow the first direct deposit but sent the second back noting the restriction I had lifted on Aug 4th... after confirming there were no restrictions on my account multiple times I had the payer send the second deposit again. They honored the second deposit, it showed available in my account but two days later with no notice they sent the second direct deposit back to the payer again (I was unaware this was even possible). This caused my bank account to be overdrawn, my investment account go wake and I have netted a huge loss when I should have gained approx $2,500. I have reached out multiple times to sofi and they tell me there was no restriction on the account but can't explain why they sent the money back stating a restriction on my account. None of it makes sense and I have given them ample amount of time to rectify this issue and they are unable. That is why I need to involve you to try and get the approximately $1,300 directly from them.Business Response
Date: 08/25/2022
Please see attachedInitial Complaint
Date:08/18/2022
Type:Service or Repair IssuesStatus: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.
My SoFi Money account was frozen because a security alert as soon as I transferred money into it. Ive had the account for 2 years now. The issue is that now that it is frozen I cant get a hold of anyone to resolve the issue. There isn't anyone available to take phone calls, the chat feature is all virtual no real customer service rep to solve the issue. I would just like to get the issue resolved so I can draw my money out and close my account. I would also advise others to do business elsewhere. My last four# of my account are **** thats all I have access to see at the moment.Business Response
Date: 08/24/2022
Please see attached document.Customer Answer
Date: 08/25/2022
Better Business Bureau:
I have reviewed the response made by the business in reference tocomplaint ID ********, and find that this resolution is satisfactory to me.
Sincerely,
***************************Initial Complaint
Date:08/18/2022
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 was on Nerd Wallet searching for any new bonus savings accounts, and I Viewed an offer of 2% apy plus $300 bonus offer. I click the link to apply on SOFI's web site. I come to find out that it was in fact not a savings but a checking application, and there are all sorts of hoops and ladders to go through in order to receive that 2% apy and $300 bonus. I was duped into this account and now when I connected to chat through SOFI for help, **************** ****** left the chat when I asked to cancel my transfer and close my account. I want other customers to be aware of this.Business Response
Date: 08/24/2022
Please see document attached.Initial Complaint
Date:08/16/2022
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.
An account was opened in my name fraudulently at SoFi back in April of 2022. I immediately contacted SoFi to close the account. I never received written notification that the account was closed. Since then, I have received letters regarding a "past due" amount on the account, for which I called customer service. For the first two attempts, I was told to email their fraud department, which I have done at least a dozen times, with no response.I just received my 3rd "past due" amount letter, with a threat for it to be sent to collections. Total amount is $52.50. Again, I have no idea what that amount is for, because it was a fraudulent account that was closed immediately. SoFi customer service has been unwilling to help, other than to tell me to email the fraud department or, in the case of my last call today (8.16.22) to leave a message for them. They won't give a direct phone number for the fraud department, but was told that they would transfer me and I would have to leave a message.I only want to confirm that the account is in fact closed, the "past due" amount is removed, and the letters for collection will stop.Business Response
Date: 08/24/2022
Please see the attached document. Thank you.Initial Complaint
Date:08/16/2022
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.
Sofi is the Worst institution that exist, I have a dispute with them ongoing, in which I was charged $489.00 by a merchant, the started the dispute took all the information, and barely got back to me with any update, I took it up on myself to contact the merchant and resolved the issue with the merchant, in which I sent all the communications to SoFi, as of today they have not refunded me my money, these thieves have not refunded my money, instead they have closed my account, this is illegal to close an account while a dispute is still ongoing. I want my money back ASAP.In communication with ******** the merchant, they have told me that Sofi had my moneyBusiness Response
Date: 08/23/2022
Please see the document attached.Customer Answer
Date: 08/26/2022
Complaint: 17723514
I am rejecting this response because:
Sincerely,
******* D'******Initial Complaint
Date:08/15/2022
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.
Credit ************ Refuses To Update Available Balance to my account or give proper information on why my account has constant holds, which results in penalty payments, shady practices, I want the $25 charge also removed from my account because they decided to wait a week until withdrawing from my account which led to me Being short because of a auto payment because of that and they want to charge me a fee because THEY want to process payments late. No, they are trying to get over on people right now. My payment has not been updated on my account for over ********************** and help because this is ridiculous.Business Response
Date: 08/23/2022
Please see the attached document. Thank you.Initial Complaint
Date:08/13/2022
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 participated in the investment transfer promotion with SoFi. Based on the promotion, I was supposed to get $125 transfer bonus after transferring more than $20,000 to SoFi. However, I only received $50 instead of $125. I reached out to the customer service twice via chat and both agents confirmed that I should have gotten $125 bonus and told me someone will reach out to me and issue the $75 difference. To date, no one contacted me via email or phone. I would like someone from SoFi to resolve this issue and deposit the missing $75 to my account.Business Response
Date: 08/17/2022
Please see document attached.Initial Complaint
Date:08/12/2022
Type:Order 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 generated a SoFi referral link from the app and shared it with my friends. They used the link to sign up for a new checking account on 4/20/2022 and followed all of the steps mentioned in the promotion including setting up DD, making a deposit within 5 days and all the other steps listed in the promotion. I've raised numerous complaints asking SoFi to look into it but they keep saying that the referral did not fulfil the requirements. Alongwith my friend we verified every step of the process but SoFi isn't accepting it.Infact when my friend called up SoFi and asked for the referral they agreed and gave their end of the bonus from the referral. But they are not paying my end of the referral.Business Response
Date: 08/17/2022
Please reference the attached document.Initial Complaint
Date:08/12/2022
Type:Billing IssuesStatus: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.
June 5 - credit card optioned under my name.Had to freeze all my credit bureau accounts.Filed FTC complaint, updated it today as the credit card is still on my account and over the allowed limit :)SOFI said they see it as fraud on my account.SOFI suggested I file this complaint with you.Business Response
Date: 08/19/2022
Please reference the attached document.Customer Answer
Date: 08/19/2022
http://odr.bluebbb.org/odrweb/Consumer/MessageAttachment.aspx?MessageID=54739069&MessageAttachmentIndex=0Better Business Bureau:
I have reviewed the response made by the business in reference tocomplaint ID ********, and find that this resolution is satisfactory to me.
Sincerely,
***********************Initial Complaint
Date:08/10/2022
Type:Billing IssuesStatus: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 May of this year (2022) I found that someone had committed identity theft and applied for credit with Sofi which resulted in an account being opened in my name in January 2022. When I finally was contacted by Sofi (via letter), I was told the account was in arrears and was about to go to a collections agency. I contacted Sofi about the fraud and was told to contact their fraud department via email at ******************************************* I also contacted the credit reported companies and reported the fraud to the government. I expected that the matter would be investigated and I would be contacted. Neither appears to have happened.After a month I checked with the credit reporting companies and they informed me that Sofi still insisted the account was legitimate. This appears to be a complete lack of work on the part of Sofi. When I contacted the Sofi initially, even the non-fraud person I spoke to recognized that the account had been fraudulent. Clearing this up should not have been a significant lift on their part.Since July I have tried contacting the company three more times. Once via phone where I was referred to the fraud department email again and twice via email resulting in no response. I simply want the fraudulent account closed and removed from my credit report and communication from Sofi that this process is complete.Business Response
Date: 08/19/2022
Please see attachedCustomer Answer
Date: 08/23/2022
Better Business Bureau:
I have reviewed the response made by the business in reference tocomplaint ID ********, and find that this resolution is satisfactory to me. While I am still waiting on the determination letter referenced in their response, everything else seems to have been resolved.
Sincerely,
*******************************
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