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Business Profile

Loans

SoFi

This 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

Find a Location

SoFi has 9 locations, listed below.

*This company may be headquartered in or have additional locations in another country. Please click on the country abbreviation in the search box below to change to a different country location.

    Please enter a valid location.

    • SoFi

      San Francisco, CA 94105-2624

    • SoFi

      2750 E Cottonwood Pkwy Ste 300 Salt Lake City, UT 84121-7285

    • SoFi Finance Inc.

      860 Washington St Fl 2 New York, NY 10014-1308

    • SOFI

      6175 Main St STE 490 Frisco, TX 75034-3441

    • SoFi

      2750 E Cottonwood Pkwy Ste 300 Holladay Cottonwood, UT 84121-7285

    Customer Complaints Summary

    • 2,313 total complaints in the last 3 years.
    • 773 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.

    Sort by

    Complaint status

    Complaint type

    • Initial Complaint

      Date:02/28/2025

      Type:Product Issues
      Status:
      Answered
      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.
      Had Sofi do a brokerage acat transfer to ******* edge in feb 2023.Merill edge is stating sofi has not sent the cost basis information over.I contacted starting week of feb 18 sofi and ******* over 10 attempts to resolve.******* edge has claimed Sofi still has not sent over cost basis to update 1099b form.

      Business Response

      Date: 03/10/2025

      Please reference the attached letter.

    • Initial Complaint

      Date:02/27/2025

      Type:Billing Issues
      Status:
      Answered
      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.
      Paid off loan. They delayed cashing check and charged me additional interest and fees.

      Customer Answer

      Date: 02/27/2025

      Called Sofi for payoff amount. They gave me an amount and for future date. When we paid the said amount. Sofi didn't process the payment in a timely manner and charged us more for the time that passed from the date they quoted until the date the check was cashed. Then they continued to charge me "late fees" even though the additional amount was under review and investigation. They are STILL sending me bills even though the charge and issue is not resolved. They are going to ruin my credit and good name and for their own incompetence. 

      Business Response

      Date: 03/07/2025

      Please reference attached letter

    • Initial Complaint

      Date:02/27/2025

      Type:Order Issues
      Status:
      Resolved
      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 raised a request for a personal loan with SoFI and they continue to give me the runaround - it is impossible to speak with someone - keeps getting routed to a call center - Ive asked for managers and Im put on hold for over 20 minutes with no one ever picking up. They are trying to stall this process so my loan with a lower rate expires and then I am forced to get a new one at a higher rate!

      Customer Answer

      Date: 02/28/2025

      From: ***** **** <*****************************>
      Sent: Friday, February 28, 2025 9:36 AM
      Hi **** - this is no longer an issue, if you could close or remove, that would be great.
      Thank you!

      ***** ****

    • Initial Complaint

      Date:02/27/2025

      Type:Product Issues
      Status:
      Resolved
      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 banking let two authorization On a freeze/ lock account and I call the bank and verify that it was two authorization on my account which it only supposed be just one and they refused to add my money back into my account with was ***** is missing and I spoke with a manager about this and the manager research and found the issue that Themoney that I'm missing, which supposed to be legendary showing in my account but I told the manager the money was show showing as they was refreshing their system twice and then it vanished and the manager requested a ticket to the technician to make the correct amount show in my account which they refused to do so and wasn't taken me seriously as acustomer on this matter i feel someone inside was taken money out of my account and refused to place the money back and I has two ongoing investigation on a dispute about this with proof of the refund and the authorization on my account one for DoorDash / bestbuy so in total ***** so I had one refund that post from DoorDash for 3.87 now l missing 6.78 and hActhiw *****

      Business Response

      Date: 03/07/2025

      Please see the attached document

      Customer Answer

      Date: 03/07/2025

      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:02/26/2025

      Type:Service or Repair Issues
      Status:
      Resolved
      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.
      Here's a rundown of the issues we've had with Sofi in just the last six months or so:- Our checking account was hacked.- We got a phone call from the actual Sofi customer service phone number (yes, I verified the number) and it was a SCAMMER who, again, was hacking our account. Then, when we called Sofi back on the same phone number (since the scammer called from their real number), and talked to customer service about it, they basically said "that's weird" and called it a day. Not a concern in the world.- Now this is our final straw with them... they pulled *TWO* UNAUTHORIZED payments from us last week totaling over $800. It was not our due date, we were not past due, and it wasn't even for our standard payment amount. I called them immediately and was told they'd process a refund. After not having the money back the next day, I called back and was told they have to wait five business days for the payments to clear, but one payment would be back in our account on 2/25 and the other on 2/26. Now today, after still not having the money back, they're telling me we won't get it back until MARCH 13TH due to an additional 15 business day waiting period after the payments clear. If we even get it back at all, which I honestly doubting at this point.

      Business Response

      Date: 03/07/2025

      Please reference the attached documents. 

      Customer Answer

      Date: 03/07/2025

      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:02/26/2025

      Type:Service or Repair Issues
      Status:
      Answered
      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 had my checking account with **********************. I started noticing a charge I did not recognize on 11.6.2025 in the amount of $39.95. Since then, every month, the same charge has hit my account for a total of $199.75. I contacted SOFI and was told my debit card had been compromised. They shut down my card and sent me a new. However, the charges are still happening. They told me they had placed a block on the specific people making the charge so it would not happen again, but it has. I disputed each individual charge and have called them multiple times and just get the run around. They will not give me my money back and still have not provided me with proof of who this vendor is to validate what I am saying. The additional $200 noted below is for my time spent and wasted time contacting them constantly with no results or answers. Any help you can provide would be greatly appreciated. I have read online they are doing this same thing to millions of other people and it's not right. I would also like to add that the person I was speaking to in the ****************** laughed when I told them I was filing a complaint with the Better Business Bureau.

      Business Response

      Date: 03/07/2025

      Please reference the attached response.

    • Initial Complaint

      Date:02/26/2025

      Type:Customer Service Issues
      Status:
      Answered
      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 have tried to deposit a check multiple times and each time they tell me the endorsement is incorrect... When I call they tell me everything looks good and to redeposit the check and that it will be deposited. This has happened 4 times now... Calling customer service after each time and all they can tell me is to redeposit it. This is a check of value as we had an insurance claim and this is the check of funds to get our house livable again. The fact that no one can get me through to someone that can actually help is unacceptable when you have NO physical locations to go to. We will be moving banks for sure. Highly advise not opening an account here!

      Business Response

      Date: 03/07/2025

      Please reference the attached letter.

    • Initial Complaint

      Date:02/25/2025

      Type:Product Issues
      Status:
      Answered
      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, I want to warn others about my experience with this online banking company. I reached out multiple times over several days regarding my tax refund. It wasn't until today that a representative informed me it was sent back to the *** due to an incorrect code. The refund was returned on the 19th, and I had been contacting customer service since February 21, 2025. Had I been notified of the rejection when it occurred, I could have prevented the *** from sending me a paper check. Now, I have to wait 10 weeks or more for my refund payment. After my payroll direct deposit is credited to my account tomorrow, I will no longer be using this bank. I advise others to consider the same. While the customer service representatives are kind and empathetic, they lack the training to thoroughly research issues and provide clear answers. Oftentimes, I was bounced from one representative to another, and I only received accurate information once. Please be cautious when trusting this company to manage your finances.

      Business Response

      Date: 03/06/2025

      Please reference the attached letter. 

    • Initial Complaint

      Date:02/25/2025

      Type:Service or Repair Issues
      Status:
      Answered
      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 a SOFI account on Feb 10, 2025. On Feb 12, 2025 I tried to deposit money into SOFI from my Chase ******** after it was completed on my end, SOFI said my account was restricted and I needed to verify my chase ******** I called ********************** and obliged, and this is SOFI's version of verification. SOFi *** used 3 way to call Chase (so they say, I have no proof). I had to put in my debit card and PIN number, then a *** came on the line and all 3 of us got disconnected. I was extremely hesitant and uncomfortable in doing so. after the phone call, it got nowhere and SOFI asked me to redo the process again. I explained my hesitation and spoke to 3 different ***s. the result from SOFI-They are holding my money hostage, they are refusing to close my account and they are refusing any further actions until I verify on 3 way with ***** AGAIN. even with my account being "restricted" with SOFI, they were still able to successfully withdraw the money from ****** I would like my account to be CLOSED and my money refunded.

      Business Response

      Date: 03/06/2025

      Please reference the attached letter

    • Initial Complaint

      Date:02/25/2025

      Type:Service or Repair Issues
      Status:
      Answered
      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.
      Been A SoFi Member Since 2021. This bank has operated with such unprofessionalism and fraud. My bank account was locked randomly after I made a dispute. (My dispute returned in my favor for both) I was told my account was being closed due to making a dispute. When my account locked I had -50 in my account(my paycheck was scheduled to clear the balance before my account was locked) My account has been locked for more than **************************************** deposit. I get an email today that my account was closed due to a negative balance and its being reported to collections. My issue is my account at the time of closure had $163 on it and they have to send me a check for my remaining balance. SoFi locked my account for months for no reason then closed it due to their mistake of locking my account due to a negative balance I could not clear while it was locked. I went through months of contact. The only reason they responded was because of my **** complaint and my *** Complaint. They claim I violated customer agreement thats why my account was locked and will be closed, but because they couldnt find any evidence of that claim. My account was closed due to the negative balance sofi created not due to violating any terms. The biggest issue is Sofi attempted to put the negative balance on my credit report but I dont have a negative balance at the time of account closure. I would like to fight this legally and will be making a class action. SoFi constructed a narrative to me for months about why my account was locked just to close it for a Negative balance that could not be cleared with a locked account. ********************** is a scam bank but will be a vital part of the recent investigation into this scam systems preventing hardworking peoples access to their money. SOFI claims they sent a check to my address for my remaining balance. I cant believe anything SOFI says.

      Business Response

      Date: 03/06/2025

      Please reference the attached letter. 

    SoFi is NOT a BBB Accredited Business.

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