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Business Profile

Loans

SoFi

Headquarters

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 Finance Inc.

      1412 Broadway, FL Team Room 5 New York, NY 10018

    • SoFi

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

    • SoFi

      SoFI Mailroom Operations 2750 East Cottonwood Pkwy, Suite 300 Cottonwood Heights, UT 84121

    • SoFi

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

    Customer Complaints Summary

    • 2,301 total complaints in the last 3 years.
    • 760 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:07/18/2022

      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.
      Transaction Date: 04/16/22 Amount: $570 Dealing with Sofi has been a nightmare. I submitted a dispute for a procedure my health insurance company ended up paying in full. The doctor ****** refused to refund me even after receiving all payments from my health insurance company, so I submitted dispute with Sofi. The doctor ****** tells me Sofi approved the dispute and charged them on 06/21 and stated Sofi should be giving me my refund. I have yet to receive any updates from Sofi, they arent responding to my email and customer service is useless. I am new to ********************** and this is having me think twice staying in business with them.

      Business Response

      Date: 07/27/2022

      Please see the attached document.

      Customer Answer

      Date: 07/27/2022

       
      Complaint: 17585191

      I am rejecting this response because: The business is not providing resolution. 

      Sincerely,

      ***************************

      Business Response

      Date: 08/08/2022

      Please see the attached document. Thank you.

    • Initial Complaint

      Date:07/16/2022

      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 new checking/savings account at SoFi Bank ending on 5/28/2022 and made an initial deposit of $500. I then tried to deposit 3 separate checks of $2000 ea made on 3 separate days because of SoFi's daily deposit restriction. They then locked my account and informed me to contact their Fraud team to verify identity. After coming up on 2 months, I have NOT been unable to contact a live person from their Fraud or Security team to rectify the problem and I have left over 20 voice mails for a return call on their voice mail system. I was able to contact their customer service but everyone informs me they cant do anything and will forward the message to the Fraud or Security team. I have sent a letter (attached) back in 6/16/2022 requesting to close my account but still have not received any response from anyone.

      Business Response

      Date: 07/21/2022

      July 21st, 2022

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


      RE: Better Business Bureau Case # ********; ******** Ogata 


      To whom it may concern:

      We are in receipt of your letter received July 16th, 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:07/15/2022

      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.
      I received emails saying I was locked out of my bank accounts with SOFI due suspicion of fraud. Initially I got a call asking to verify the linked external bank account, the call was disconnected by the agent, I tried to call back, then it asked me to leave a message. And I got emails asking me to call ************ and to leave a message. I did that for more than 100 times, since July 14th. Still no one gives me a call. Although in the email, it says "a member of our team will return your call within an hour". I also sent email to the support, no response. Now all my funds are locked in SOFI. As a professional who are very busy with my full time job, I am extremely disappointed by how SOFI treats a customer, and their money, and I feel my time has been wasted with this unprofessional bank. I have nothing fraud on my end, so please feel free to verify me, call me back any time you like, call me ASAP, collect any information you like, and please don't keep silent and please don't lock all my funds! I also read what other complaints here. Most customers are having a similar issue with SOFI. SOFI seems to be the fraud itself!

      Business Response

      Date: 07/22/2022

      July 22nd, 2022

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


      RE: Better Business Bureau Case # ********; ***************


      To whom it may concern:

      We are in receipt of your letter received July 17th, 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: 07/27/2022

      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. However, I am hoping they won't randomly freeze customers' bank account any more. I have lost my trust on this bank already. 

      Sincerely,
       

    • Initial Complaint

      Date:07/15/2022

      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.
      So fi froze my account without notification I deposited money into my account and that's when it said it was frozen and gave a number to call. The phone number that was given only rings to a recording. There is no way to talk to a live person for customer service and although I have left several messages on the number that was given I have received no response not even for an explanation of the problem. I was able to find an email for customer service on ******* and all they keep saying is the customer support team will contact me and gives the number again that rings to the recording that says all of our customers service agents are busy and to leave a message. It has been several weeks now and still no response

      Business Response

      Date: 07/21/2022

      July 21, 2022

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

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


      To whom it may concern:


      We are in receipt of your letter received July 15, 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:07/14/2022

      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.
      I opened a SoFi Credit Card in mid-April 2022 shortly after opening a checking and savings account with SoFi. What enticed me to apply for their credit card was an advertisement on their app that stated I would receive $100 in rewards points after being approved for the credit and making my first purchase. I clicked on the advertisement, applied for the credit card on 4/16/22, and was approved. I received my card in the mail several days later and made my first purchase on 4/27/22, which meant I met the terms of the offer and would be entitled to the $100 in rewards bonus.A few weeks later, since I had not yet received the bonus, I contacted SoFi to inquire about the status of the bonus. I was told that it can take up to 45 days from the date of the first purchase to receive it, so I should contact them again if I do not receive it by then. I waited the 45 days and did not receive my bonus, so I contacted them on 6/13/22, 47 days after my first purchase to inquire. I was told that they would manually submit a ticket to process my bonus rewards points, which can take 10 business days, and that I would receive an email once it was complete. After 10 business days, I still did not receive my rewards bonus or receive any type of communication from SoFi.I then waited until 7/5/22 to contact them again. I was told that they would then open a ticket and process a special exception for my rewards. I told them that is what was already done when I called on 6/13/22 and they assured me it would be expedited this time. They told me they would contact me ASAP, which they still have not done. It has not been 78 days since my first purchase on the credit card, 33 days beyond their specified timeframe, and I have not received my bonus, nor any communication or explanation from SoFi. This is a clear case of false and deceptive advertising for the purpose of getting customers to sign up for their credit card, when they clearly have no intent to pay out the bonus.

      Business Response

      Date: 07/22/2022

      July 22, 2022

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

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

       To whom it may concern:

      We are in receipt of your letter received July 14, 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:07/13/2022

      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.
      On FEBRUARY 15 (YES FEBRUARY) I locked my rate with SOFI for a cash out refinance. The company has already send me closing docs twice and I STILL AM NOT CLOSED. They have every document they requested and I have had to redo my payoffs and bank statements so many times my employer and mortgage companies are AGGRAVATED. I have had to provide 4 sets pay stubs, bank statements and payoffs. Now I feel they are just harassing me by asking for more and more info they already have and hoping I give up, I am not giving up my rate. They are also causing me significant stress and financial hardship as I cannot do ANY other financial transactions including taking out student loans DUE FOR MY KIDS Aug 15 until this is finished!! They ignore you when you call and email and even customer service has been instructed to forward or drop calls when there's trouble. Searching online you can see patterns of business practices that should alert the BBB to the shady practices and some inept departments. I was specifically told that other loans were being prioritized over mine. My request is to be CLOSED by the END OF THIS WEEK- they have three days and everything is done and in to underwriting. I will also be writing to their Board citing all the other complaints found on rating boards and similar sites complaining of the SAME excessive delays and harassment for more and more paperwork even after they say you are "all set". I expect a call from *************************** my loan officer today. I have requested calls yesterday and Mon and have not received any additional info on my closing that I was promised LAST WEEK. This company is costing me money every day my loans are not refinanced and my higher interest bills are not consolidated in to this loan. I will be seeking a refund of the difference in interest since March 15 (30 days to close) if I am not closed this week as promised. I will also be contacting people who have had similar problems so we can write to the board if this is not done today

      Business Response

      Date: 07/20/2022

      Please see the attached document.

    • Initial Complaint

      Date:07/13/2022

      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.
      I opened the account at Sofi on 06/27/2022 online. I see all my activities on the statement. It seem legit but when I do the simple math. I short 200 on my accounts. And I talked to ******** services on 07/12/2022 whose name ***** A at 12 am. She said there is no shorts on my acc, cause I transferred that to **** of America. I have been checking so many times, there is short on my acc 200.

      Business Response

      Date: 07/21/2022

      July 21, 2022

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

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

      To whom it may concern:


      We are in receipt of your letter received July 13, 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: 07/23/2022

       
      Complaint: 17560024

      I am rejecting this response because:

      Sincerely,

      Suryono ******

    • Initial Complaint

      Date:07/12/2022

      Type:Sales and Advertising 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.
      Sofi has caused numerous errors on my account in the last three months. I have even had to have a ticket escalated to their programmers because of the issue that supposedly was just on my account. I have emails from them admitting errors on their part however nothing is ever done. When I try to chat with **************** they hang up or end my chat because they do not have answers. Today I was accused of berating the agent because of my frustration. I never once said a bad word. I simply told him/her I had already answered the question they asked and that they could see the notes on my account with my previous issues. People get tired of endless transfers and the agent did not want to answer that problem. He/She was upset when I asked for a transcript of the chat so I could include it with my complaint. All I want is the cost of the fees I have incurred returned to me in the amount of $250. I am including pictures of the emails I have from one issue. Unfortunately, since the agent did not fulfill my request for a chat transcript, I can not include that. When money is involved and errors on the bank's end (admittedly!) customers will be frustrated and customer service agents should understand that. This is July 12th and no resolution has been sent since the issue began in June.

      Business Response

      Date: 07/22/2022

      Please see attached. 

    • Initial Complaint

      Date:07/12/2022

      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.
      On may 29, 2022 I started receiving emails from SoFi stating that I had opened a brokerage account. I never applied for or opened a brokerage account with this company. I emailed the company stating that this was a scam and/or potential identity theft. The emails originated from **************************************************** I forwarded the email to their customer service at ******************************************* I even called their customer service on the phone and they responded verbally and in writing that there is no account or profile in my name. However days later I received the following:"A new trade confirm is available online for account ###-##***." I sent another email to their customer service and the person simply said to "unsubscribe and I shouldn't get anymore emails." how ridiculous is this? Somebody may be trading under my name and they are telling me to unsubscribe. I work for a securities federal regulator and have reported this already to my security team. I want them to find out whose account is register with my email: ************************** or *************************** and send a written letter stating that there is no account in my name and that my email has been deleted from this individuals profile. I have attached a copy of the confirm email. They keep saying the email is legitimate but that there's no account and "it must eb a promotional email". how unprofessional

      Business Response

      Date: 07/20/2022

      Please see attached. 

    • Initial Complaint

      Date:07/12/2022

      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.
      on the 10th of june 2021, i receivedva payment to my account which i also made some transfer out but after few days i got a notification that my account has been restricted. i tried to reach sofi and i am unable to get anyone on the phone. i have dropped numerous voice mails, but no one is giving me a call back or finding a resolution to my issue. i have waited more than 1 year now and sofi is still unable to remove the restriction on my account. BBB will assist

      Business Response

      Date: 07/19/2022

      Please see the attached document. 

      Customer Answer

      Date: 07/20/2022

       
      Complaint: 17554211

      I am rejecting this response because: I have been contacting the business for months and they have not been giving me a response. I want to business to make their response available to the public through BBB on why they have locked my account and refused to let me withdraw my money from my account. I can assure BBB that the business will not give me a response anytime soon and they have no good reason to hold my money.

      Sincerely,

      *****************************

      Business Response

      Date: 08/03/2022

      Please reference the attached document.

    SoFi is NOT a BBB Accredited Business.

    To become accredited, a business must agree to BBB Standards for Trust and pass BBB's vetting process.

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