Complaints

This profile includes complaints for SoFi's headquarters and its corporate-owned locations. To view all corporate locations, see Find Local Branches.

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• 

  SoFi

  San Francisco, CA 94105-2624

• 

  SoFi Finance Inc.

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

• 

  SoFi

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

• 

  Sofi Lending Corp

  PO Box 981075 Boston, MA 02298-1075

• 

  SoFi

  4064 Colony Rd STE 200 Charlotte, NC 28211

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:02/20/2025

  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.

  On February 14, 2024, SoFi Bank restricted access to my checking account without prior notice, citing "irregular activity." I received an email instructing me to contact their security department for further information.I immediately called the security department, but was told they had no details and that my account was under internal investigation. No reason was provided for the freeze, no specific transactions were flagged, and I was not informed of any process to resolve the issue.I followed up multiple times via phone and email, but SoFi failed to provide a clear explanation or timeline for resolution. Despite my ongoing attempts to resolve the issue, my funds remain frozen, causing severe financial hardship, including an inability to cover emergency medical expenses for my father.On February 18, 2024, after I sent a formal demand email through a legal network, SoFi finally responded, acknowledging my complaint. However, they still failed to explain why my account was restricted or provide a resolution timeline.SoFi has not given me any opportunity to verify my identity or prove the legitimacy of my transactions. This has resulted in unnecessary stress and financial harm.

  Business Response

  Date: 02/26/2025

  Please reference the attached document. 

• Initial Complaint

  Date:02/19/2025

  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.

  SoFi is lying to customers and withholding payroll deposits. I have copies of the transaction from my employer, and SoFi continues to hold money.

  Business Response

  Date: 02/28/2025

  Please see the attached letter.

• Initial Complaint

  Date:02/19/2025

  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.

  Section FCRA 611(a)(6)(B)(iii) and (7) of the Fair Credit Reporting Act, 15 U.S.C. 1681i, and send the required notifications to all furnishers of this information. Fair Credit Reporting Act, 15 U.S.C. 1681s-2 Section 623(a)(8)(D) Section 603(p), must notify consumers in writing if they may furnish or have furnished negative information to a CRA. Section 623(a)(7).According to 15 U.S.C 1681s-2(a)(1)(A) and (B)to report inaccurate informationPlease DELETE this information from my credit report, pursuant to section 611 of the Fair Credit Reporting Act, 15 U.S.C. 1681i, and send the required notifications to all furnishers of this information. According to 15 USC 168i(15) the credit bureaus have to modify or Delete fraud Account that are not reporting accurately. According to 15 USC 1681b(1) the credit bureaus dont have no written permission. According to 15 *** 1681 have the right to privacy According to 15 *** 168s- 2 A person shall not furnish any information relating to a consumer to any consumer reporting agency if the person knows or has reasonable cause to believe that the information is inaccurate . (B) Reporting information after notice and confirmation of errors According to 15 *** 1681 I have the right to privacy According to 15 *** 1681s-2 A person shall not furnish any information relating to a consumer to any any consumer reporting agency if the person knows or has reasonable cause to believe that the information is inaccurate. (B) Reporting Information after notice and confirmation of errors A person shall not furnish information relating to a consumer to any consumer reporting agency (i) The person has been notified by the consumer, at the address specified by the person for such Notices, that specifies information inaccurate, and (ii) the information is, in, fact, inaccurate. SOFI BANK Amount:$90000Date:1/13/2025 Acct#*********

  Business Response

  Date: 02/28/2025

  Please see the attached documents

• Initial Complaint

  Date:02/19/2025

  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.

  SoFi is using unsavory financial practices to manipluate ************ an effort to take proper steps to change a payment date on a personal loan, I contacted customer service almost 2 weeks ago (early Feb). After discussing the options available and the expected outcomes; I was told my best course of action would be to make a payment (completed on 2/18) and then request a new due date. These actions would effectively make my March payment on time and set my new payment date from the 5th to the 21st of each month. In addition, this should have slightly lowered my monthly payment.On 2/18, I made my March 5th payment.After making the payment, through the SoFi app, I requested a new due date of March 21st. The app confirmed March 21st would be the new auto pay draw date and that my payment amount lowered *********** of today, 2/19, the app now says my next draw date is April 21st and my payment has gone up by almost $7.Therefore, I called customer service. After being on the call for almost 40 minutes, most of which I was placed on hold, no reasonable resolution was presented by SoFi. The situation was not resolved, in fact it was made worse.SoFi is not interested in providing appropriate service to its customers nor in doing the right thing. I was following the direction of a SoFi representative and it only screwed me over in the long run.I would NEVER recommend SoFi for any financial activity.

  Business Response

  Date: 02/28/2025

  Please see attached. We will send a final response to member via email. Thank you

• Initial Complaint

  Date:02/19/2025

  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.

  My SoFi account was restricted after I sent money to someone, and I dont understand why. This is my money, and I should be able to use it freely. I have contacted customer service, but they havent given me a clear timeline for when my account will be reviewed or unlocked. I need access to my funds as soon as possible. Please look into this matter and provide a resolution.

  Business Response

  Date: 02/28/2025

  Please reference the attached response. 

• Initial Complaint

  Date:02/18/2025

  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.

  I made a transfer 5 transfers from my bank to a merchant who supposed to create a marketing business. Less than a week I realized that the ******** was scam because I didnt get any information about the business created for me and I couldnt reach him anymore. I made a claim to my bank and gave them all the requested additional evidences. They refunded me only 2 transfers and refused to refund me the rest. The only explanation that I received was there was no error on the other transfer. That makes any sense, all transfers was successive due to the daily transfer limit. Why I got refunded partially because there was an error, not the rest ?? They couldnt answer that. Now I get totally ignored. I really need help here.

  Business Response

  Date: 02/28/2025

  Please reference the attached letter. 

• Initial Complaint

  Date:02/18/2025

  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 and was approved for a loan to refinance my already refinanced student loan on December 2, 2024. Both my original loan and the new refinance loan are through SoFi. The newly refinanced loan was dispersed on 12/16/2024. SoFi made an error and used the new loan to pay off itself on 12/24/24. During the time between 12/16/24 and 12/24/24, they were charging me interest on both loans. In addition, they have been charging me at the higher interest rate since 12/24/24 because of their mistake. This is the definition of theft. This extra interest money that they have stolen from me could be going to pay down my principle. In addition to their egregious error, after many hours on the phone because their customer service ***** (I once spent 1 hour and talked to 5 different people without getting any help), they magically have not been able to fix the issue. How convenient. Now they get more interest money out of me. Times I have contacted them with minutes spent on the phone:1/8/25 37 minutes 1/22/25 44 minutes 2/3/25 37 minutes 2/18/25 61 minutes I was promised a call back 2 times, never came. Got hung up on once because the customer service agent's connection was bad. Each time I call I am told the last agent did not submit the complaints properly..

  Business Response

  Date: 02/28/2025

  Please reference attached letter

• Initial Complaint

  Date:02/18/2025

  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.

  SoFi refuses to give me the money I am owed from ********/****. I bought a dress off of ******** Marketplace and I never received the dress even thought I had paid for it (through *************** ******** immediately ruled in my favor and issued me a refund. I received no such refund and after 3-5+ business days I reached out to them again and they said to contact my bank. I contacted my bank and they also confirmed they did not see the refund so I asked them to dispute the initial charge. The dispute was filed and after about a week (or two) SoFi reached back out and denied my claim. I didnt understand as I provided very clear cut evidence that proved I was owed a refund and they still denied it after I reopened the initial claim. I asked SoFi for their investigation documentation that led them to this conclusion and they sent me fake links/links that I was not able to access because I was not an employee. When I reached out once again requesting their investigation documents they said the documents would be sent in 3-5 business days; they were not. I tried reporting this to the **** earlier today but it seems their website doesnt work given everything happening on the federal level. I merely want the $303.10 I am owed.

  Business Response

  Date: 02/28/2025

  Please reference the attached letter. 

  Customer Answer

  Date: 03/05/2025

   
  Complaint: 22958013
  
  I am rejecting this response because: I will not receive the mentioned correspondence until after the date to respond passes. Once I receive the letter I will review and either update or change my acceptance of the response.
  
  Sincerely,
  
  ****** ********

  Business Response

  Date: 03/12/2025

  Please reference the attached letter.

  Customer Answer

  Date: 03/12/2025

  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. Thank you for being the most trying part of this process and helping very little. I would like to add that just because you have a record of a call or an email does not mean that it was a satisfactory or even an appropriate response. I contacted SoFi several times stating that I could not access the documentation provided and nothing was done. I asked for clarification as to why you would contact the merchant (considering the situation), and why the blank empty sealed envelope that did not contain a wedding dress with the tracking number that is referenced was not considered; yet I got no such information or reason why SoFi came to this conclusion (other than your run of the mill response that contained no substance). Even after going through the entire process of filing a BBB complaint I was still given no meaningful answer despite detailing my concerns and issues. I sincerely hope you reconsider your business practices as they are poor and have led to me deciding to close my account. If you would like an example, please consider following in the footsteps of ****, considering that you no longer have a competitive APY nor any redeeming qualities.
  
  Sincerely,
  
  ****** ********

• Initial Complaint

  Date:02/18/2025

  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.

  In the month of October, specifically on October 1, I began the process with SoFi of trying to refinance my student loans and was immediately met with restraint. Ive contacted their customer service 20+ times in the past four months and Ive been met with absolutely nothing but lies. I began this process, as I stated, in early October in anticipation of having to pay my first payment of student loans at the end of December. For my first application I was denied because it was stated that there wasnt enough proof of funds with my cosigner. I found this to ridiculous as there was plenty of funds that was proven that was not taken into consideration, I was advised to start over with a new cosigner. Upon doing that, I was immediately denied again and was told to start over with a brand new co-signer AGAIN. This time I chose a cosigner that has a net worth of over $1 million, instead of being denied I was put at a standstill with my application and advised to contact customer service. When bringing this to customer services attention, like the website instructed me do, I was told that there was absolutely nothing that they could do and they had no idea what was happening. My application is still on this page when I try to go to it. The lack of knowledge from your customer service representatives is unbelievable. There wasnt a single customer service representative that was helpful on your end and I have logs of the conversations had with them. I was told that I would be receiving a call back, email back, a text back and nothing was ever sent to me even now three months later Ive still received nothing from Sofi. Im so unbelievably annoyed with Sofi and I wish nothing more but for this business to burn. Ive since gone with another refinancing option and am much happier with them. I would like from Sofi a check for the payment ($740) I had to send to my student loan vendor because of Sofis inability to help me in a timely fashion.

  Business Response

  Date: 02/28/2025

  Please reference the attached letter. 

  Customer Answer

  Date: 04/03/2025

  Shyan,

   

  Please tell SoFi to stop reaching out to me. I receive emails daily from SoFi and when I unsubscribe/block them, a new email is made and more emails are sent. I want to be done with this. I never want to hear from SoFi again. Ive already contacted the *** and the *** about this.

   

  Thanks

  Genna

  Business Response

  Date: 04/09/2025

  Please reference the attached letter.

• Initial Complaint

  Date:02/18/2025

  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.

  Hello, On Friday, Feb 14th I attempted to make a payment to my sister in law, Knellee ******, to pay for a partial hotel cost for an event my daughter is attending: the 69th session of the ************************* on the Status of Women (*******) will take place from March 1021, 2025 at the ** Headquarters in *************. Knellee is the lead NGO to the ************** and is organizing her portion of the event which includes my daughters attendance. On Friday, Feb 14th I attempted to Zelle payment to Knellee in the amount of $615 as a shared cost to a hotel for another attendee. That payment failed. I attempted one or two more times. I then called SoFi to have the issue resolved so I can begin using Zelle as a payment processor. I was told the matter would be escalated. Monday morning, the 17th of Feb, I found that my account was restricted, and was pending closure. In asking the representative for more information, I was told that I violated terms of service and to read the **** That is all the information that I received. They refused to transfer me to anyone for additional data. I called back again and spoke to another person who did confirm it was due to Zelle, but I was unable to receive any additional data as to why a phone call from me for a non working service, and the use of Zelle would prompt account closure. I was simply attempting to use the service, and was asking for help as a customer. I have both a checking and savings account, the checking as of today Feb 17th $9,188.15, and a savings account of $561.05. I currently have no access to my funds, and dont know when I will in the near future. I did ask if I could provide any additional data to support the ***** transaction attempt. SoFi refuses to allow me to speak to anyone, and they told me they would be sending me a check if I was entitled to the funds. This seems threatening and is concerning. I still have no *** on receiving funds as of today.

  Business Response

  Date: 02/27/2025

  Please reference the attached letter.