Business Profile

Loans

SoFi

Headquarters

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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.

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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:08/09/2022
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.
I received a SoFi credit card in the mail. I have never applied for this card, never activated the card and in no way authorized anyone to use it. I received a **** in early June for about $25. I called repeatedly to ask why I was receiving this ****, and by July 19 I was told that the card was "shut down" and "blocked." By that date, the **** was up to $38.97. The August **** is now $78.42. I first contacted the credit card fraud department of SoFi, to the attention of a **********************, on July 4. I have contacted this person repeatedly, with no response.The case number is *******, I have been told. On August 5, I was told the investigation could take months. I have asked to have the bills cease while the investigation is supposedly being conducted. They have refused to do so. I am at my **** end. Can you do anything to help me?? Thank you so much.
Business Response
Date: 08/17/2022
August 17, 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 09, 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: 08/22/2022
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:08/08/2022
Type:Billing 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.
This company is a total scam. A credit card was opened fraudulently in my name. I had no idea until i saw it on my credit karma as an open account with a balance due. I immediately opened a fraud report with sofi and credit bureaus. They told me it would take 30 days. lies.. I am now at almost three months and have called 8 times only to be told there is nothing they can do or no one i can talk to. I have emailed their credit fraud **** 8 times with no response. This has effected my credit greatly. Every month it continues to go down at the hands of sofi not taking care of this. I am someone who has worked my whole life to maintain perfect credit and now it has dropped so much my credit is barely useable. I have begged their service **** to please handle this investigation and correct the credit bureaus. NOPE.. They do nothing and will not respond to me ( the victim). I also had to make a balance due on this card that isnt even mine as they reported a decline by 130 points last month due to payment not being made. I had no other choice. I don't even know the card number and yet they had no issue taking payment. They assured me i would be receiving a refund of any monies paid upon their investigation. They are lying to me about everything. I am disgusted by all of this..
Business Response
Date: 08/17/2022
August 17, 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 08, 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
**********************
Initial Complaint
Date:08/06/2022
Type:Billing 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.
The bank suddenly and without warning froze my account with my funds inside it rendering me not able to withdraw or to purchase anything not even go to the supermarket and buy milk for my family. It has put me in a very bad situation duation and referred me to a phone number that does not even have 24 hour or 7 days a week service. And they refuse to chat with me every time I try to chat they say you're accountants frozen and you cannot chat you need to call this number which is only available Monday through Friday in certain hours. They claim that the problem is am using the bank account in a way that is against the terms and and I am a victim of identity shift virginity's 5th it is well documented since ******************************************************************************************************************************************* my name And I have the right as well that such action of freezing account will not happen before the matter is discussed with me And after making sure I am well informed these are the basic rights of identity theft victims according to the ***** bill of rights. They however denied me all that froze my account held my phones and I'm stuck with no with no solution but to wait. Also going through the statements for the last 2 months I have noticed some I have noticed some charges that I did not recognize and I wanna dispute them but I have no way of doing that as well . I found duplicate charges that are usually easier recognizable by any bank system and typically corrected within hours , however i found duplicate charges exceeding $500 in only 2 weeks.
Business Response
Date: 08/12/2022
Please see attached document
Customer Answer
Date: 08/17/2022

Complaint: 17681575

I am rejecting this response because:

******** rejected the dispute and the dispute and reversed the credit credit relying on evidence that the service bought was delivered. My dispute was due to unrecognized transaction not undelivered service. ******** is simply relying on proof that the identity thief has got what he bought. Absolutely ridiculous.

Sincerely,

Anss Alsawy
Business Response
Date: 08/24/2022
Please see the attached document.
Customer Answer
Date: 08/30/2022

Complaint: 17681575

I am rejecting this response because:
They are completely lying , they never communicated with me since the beginning of this complaint, I sent many emails, sent certified mail, called many times and got forwarded to voicemail every time.
The only response I received was the rejection of the dispute followed by debiting my account for the disputed ammount. The rejection relied upon proof of service delivery when the nature of the dispute was about unrecognized transaction and not undelivered service/product. Absolutely non relevant proof followed by account debating and freezing untill this very moment. I'm not able to convey to them the mistake they done nor I'm able to dispute other transactions found. I have found duplicate charges made when I withdrew money from ATM and got charged twice for ammount exceeding $500. I'm completely helpless and frustrated and they keep pretending they are helping and communicating.

Sincerely,

Anss Alsawy
Initial Complaint
Date:08/05/2022
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.
On 08/02/2022, I deposited a mobile checks for $1500 and $300 from my CitiBank checking and savings accounts into my Sofi Bank account. On 08/04/2022, CitiBank sent an email stating the check was cleared and should be deposited into my account. On 08/05/2022, Sofi Bank cleared the checks then FROZE my account, resulting in me not being able to receive my monies. I reached out to Sofi and left several voicemails for their fraud department, as you cannot speak to a live person, their chat system and via various social media accounts and am told the only thing to do is to wait for a response. No ETA. No one willing to help, despite me forwarding emails from CitiBank showing the checks have CLEARED ON THEIR END.
Business Response
Date: 08/11/2022
Please see attached.
Initial Complaint
Date:08/05/2022
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.
I started receiving emails in early May 2022 from SoFi Invest detailing an investment account I supposedly opened with them and transactions with the account. I had never heard of SoFi and NEVER opened an account with them. I called in mid-May and discovered someone had used my identity - name, email, address, date of birth, social security number - to open an account with SoFi to secure Tesla stock through a marketing campaign by SoFi. I called SoFi numerous times, including their fraud department, since May to clear up this issue and get this account locked and closed. SoFi assured me via email on 25 May 2022 that the account was closed. However, I continued to get emails from them in June, July, and August regarding transactions, etc. with my account. I called them again today. They again said my account is closed and dont know why I am still getting emails from them. They opened another ticket with their fraud department. I am getting frustrated with this situation as it is unnerving to know someone has my personal information and Im not sure I trust SoFi at this point. Any assistance to rectify this situation would be appreciated.
Business Response
Date: 08/11/2022
Please see attached.
Customer Answer
Date: 08/15/2022

Complaint: 17675858

I am rejecting this response because: While I appreciate SoFis response, I want to hear from them regarding this issue before the complaint is closed with the BBB. As of today, I have heard nothing from them. From my experiences with them in the past, they do not respond when they say they will.

Sincerely,

**********************************
Business Response
Date: 08/22/2022
Please see attached document.
Initial Complaint
Date:08/03/2022
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 applied for a loan in the amount of $39,000 in June. I provided all the deemed necessary paperwork in regards to income that was available to me. It was expressed to me that Sofi was waiting for Employment verification. I called Personnel Records with the **** Railroad and had them email information to Sofi. I have also been thru 3 people with Sofi. *********, **** and ******. To this day Sofi has not even approved my Request for the Loan amount and thier phones disconnect. I have never dealt with a Company that is Rude, Inconsedrate, Incompetent and quite frankly just Mean to the Consumer. This outfit *****.
Business Response
Date: 08/09/2022
Please see the attached document.
Initial Complaint
Date:08/02/2022
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 opened an account with Sofi on June 1, 2022 and deposited $500.00. Since June 6th, the account is on hold and not accessible because there is a fraud investigation. It said the account is under view and we contact if we need more information. I have left 6 voice mails and emailed the *** 4 to 5 times with no response. The account manager replies and gives me the form about fraud investigation. Right now there is $438.00 in there that I cannot access.
Business Response
Date: 08/12/2022
August 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 August 02, 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:08/02/2022
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.
A SoFi credit card was opened fraudulently under my name on May 2, 2022. I found out on May 11th when I received the actual credit card in the mail and immediately called to notify TransUnion, Equifax, Experian, my local state police ****** credit karma, and the identity theft clearing house federal trade commission in Washington **. I have placed a credit freeze on my credit as well. No one from SoFi had reached out trying to resolved this issue since May- despite multiple phone calls and emails on my end. There was over $2700 in fraudulent purchases made on this card- SoFi was able to tell me that the transactions appear to have been made in OR to the country of ******- and this card shows on my credit report which is doing to affect my credit score if it is not removed. I have opened investigations 3 times with Equifax and 2 of the 3 times the investigation is closed because SoFi is not doing their part to look into the matter to get it properly resolved. I am now awaiting the results of the 3rd investigation by Equifax. When I spoke to Equifax they made me aware that without SoFis cooperation in resolving the issue that it cannot be resolved. I am beyond frustrated with this company and want to get this matter resolved ASAP. I have been patient but my patience has reached a limit. I have done everything on my part to resolve this and now it is Sofis turn to complete the fraud investigation process, close this card and have it removed from my credit report!!!
Business Response
Date: 08/17/2022
Please see attached
Customer Answer
Date: 08/17/2022
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:08/02/2022
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.
I have been trying to get help from Sofi regarding a fraudulent account opened in my name that is now impacting my credit score by 90 points showing 4 months of non payment. I alerted Sofi immediately when I received an alert that a new account was opened in my name. That was back in February 2022. They assured me I had nothing to worry about. It is now august 2022 and nothing has been done. I was advised to contact by email only the fraud department which I have multiple times as well as the Sofi customer service number. No one ever responds and the situation continues. My credit now has dropped to poor when I have always maintained excellent credit and always have paid all my debts. I need help getting this fixed.
Business Response
Date: 08/10/2022
Please reference the attached document.
Customer Answer
Date: 08/10/2022

Complaint: 17657290

I am rejecting this response because: I cannot accept these terms until I have been contacted by SoFi. As of 8/10/2022 I have not heard a word or received any correspondence from them. I do not have confidence that they will respond based on my past experience contacting them and getting a response. I am concerned that if I accept I may never hear back from them. I would appreciate a letter of apology and confirmation that everything associated with my name has been removed from their files. This can be emailed or mailed to me for my records. Once I receive this document I will be satisfied. They should have my contact information, as I have been sent collection letters to my residence, but in any event I can be reached at ************. My mailing address is ***************************, *****************************************************************************************, and my email address is **************** Looking forward to putting all of this behind me soon.

Sincerely,

***************************
Business Response
Date: 08/12/2022
Please see attached
Customer Answer
Date: 08/18/2022

Complaint: 17657290

I am rejecting this response because:

I have requested a letter of apology and reassurance my name is not anywhere in the SoFi files. I have not received any reassurance of my request. My credit report has been corrected and I am satisfied with the outcome. As a victim of identity theft, I do not authorize my name be used by SoFi in any manner, and do not feel comfortable in signing the Consent to Disclosure of Non-Public Personal Information that they are requesting from me. I would appreciate a letter of apology as stated above, and reassurance that my name is not in any file SoFi has. I recently received correspondence from SoFi that would be sent to their customers offering benefits and more, while I realize this may be computer generated, my name is still in their customer data base.

Sincerely,

***************************
Business Response
Date: 09/14/2022
September 14, 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 08, 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: 09/15/2022

Complaint: 17657290

I am rejecting this response because: *********** has not apologized to me and the three responses through the *** have been the same. I can't say I am satisficed because what I have asked for has never been addressed other than a generic reply. I will not authorize any use of my name in connection to this case through the waiver they are wanting me to complete and send back. I am requesting a letter of apology, and as a victim of identity theft I am also requesting reassurance that my name has been removed from their files. I can't agree or be satisfied until this has been completed.

Sincerely,

***************************
Initial Complaint
Date:08/01/2022
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.
Between May 06, 2021 and End of June 2022 I had a problem with a hacker getting into my Sofi brokerage account and placed trades on on my account making me lose money. I have tried over the last 7 months to get them to give me restitution credit to my account for the total losses. I am enclosing a letter that was Created by my lawyer as an attachment. My lawyer agrees that I should get a refund for all of the losses I suffered. And I know sofi pays a insurance on money to pay for Fraud In accounts. I would like a full refund for all of the loses I incurred. It seems it say I can't upload content at the moment. Anyway I sent Sofi brokerage a copy of the letter before action from my lawyer.I hope this letter has correctly found itself within your complaints/fraud department as it is very essential to him that you become aware of the ordeal he had to go through.I am writing to bring your attention to the fact that he has been victimized by a scammer and was denied access to his funds without any justifiable reason by SoFi.Commencing on or around May 06, 2021, he found out that he no longer have access to his account and as a result, he lost the equivalent of $66,700.00 USD. Over time. He sent money there using money link from PNC Bank.Mr. ***** ****** never looks backward except for learning, nor does he have a proclivity to blame others for his downfalls, however, he cant help but link this enormous loss with the trust he had instilled in your institution, which is currently a regulated one.On this unfortunate day when his ordeal started, somebody sent him an email that Playstation4 was ordered utilizing his debit card but it turned out that nobody ever ordered it and that the email was from the hacker. He then made him install a software system to connect to my desktop and stated that he would help him. He was giving me instructions over the phone call, keeping him for three and a half hours on the phone.
Business Response
Date: 08/08/2022
Please see the attached document.

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SoFi is NOT a BBB Accredited Business.