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

  6175 Main St STE 490 Frisco, TX 75034-3441

• 

  SoFi

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

• 

  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

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:02/17/2025

  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.

  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.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 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:$88830 Date:9/30/2024 Acct#*********

  Business Response

  Date: 02/26/2025

  Please reference the attached response. 

• Initial Complaint

  Date:02/17/2025

  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 took out a personal loan with Sofi not knowing they do not allow principal only payments when current. In December I sent in a large payment and they lost the payment within their system for over 30 days, causing me to pay interest on the same money. They refused to correct it. In January I decided to pay off the loan in full and sent over full payment to payoff the loan. Of the three payments sent electronically, only one was applied to the account. Representative stated they could only apply one payment per day to account and rest would be denied. Asked me why I wouldn't have just paid it from one account instead. Her manager said she spoke out of line and wrongly, said they would find the funds as he could see they were electronically send over and submitted a ticket to located them assuring me I would not pay interest on the money they lost again. Several weeks later they found it and applied it to the account. New ***resentative stated the interest on the account for that late payment would be removed by the end of the week Friday as the account manager stated it would be previously. Saturday it was still there. New *** said he saw two contradicting statements of account managers: 1) That the interest would be removed from the account due to it being their error; 2) It will not be removed from the account. He said he needed to look into it and would call me the following day on Sunday. He did not call. I called in and they hung up on me when they first answered the phone. Interest is still there and accruing on the account after being told by two different managers it would be removed and a third saying he saw that note in the system. I want them to correct their mistakes, credit the account, and now also credit what they own back for the month of December where they lost the funds in their system once again and failed to apply it to the account in a timely manner.

  Business Response

  Date: 02/25/2025

  Please reference the attached letter.

  Customer Answer

  Date: 02/25/2025

   
  Complaint: 22950126
  
  I am rejecting this response because: Sofi did not apply them when received. All three payments, two from the same bank, were sent electronically the same way on January 22, 2025 within 20 minutes total during operating hours. I made multiple calls to ask about the funds and was told to wait a little longer. A Sofi manager I spoke with who started the claim saying Sofi was well beyond their processing time allowed for these transactions and stated he could see they were done electronically and should have applied at the same time as the $23,400 payment.The case was opened to find the funds and why they were not applied at the same time or within 24 hrs of the other payment as he stated they should have processed the same day (A lower level *** criticized me for using three accounts and said ********************** only allowed one payment per day and that THEY denied the payments). He assured me as have other managers that the interest being applied to the account while the funds are being located would be removed if applied at all. Something that should have happened with the previous payment that was made as well. I have received two notices by email stating this loan has been paid in full, but when I log in it shows a balance of the accrued interest over the time Sofi lost the electronic payments in their system and is continuing to accrue during this process.This was intentionally done on Sofi's part as a method of scamming borrowers out of additional funds. Action is never taken until multiple complaints have been made on the same issue and then they "go looking" for the money they have had in their possession not appropriately applied to the correct borrowers accounts. 

  ********************** is running a scam on borrowers and it needs to be addressed. 

  Attached are screenshots of the emails. 

  
  Sincerely,
  
  ******* ******

  Business Response

  Date: 03/04/2025

  Please reference the attached letter. 

  Customer Answer

  Date: 03/04/2025

   
  Complaint: 22950126
  
  I am rejecting this response because:
  Sending a response by mail to circumvent the BBB, who was only brought in due to Sofi's failure to handle the situation in the first place, is unacceptable. All responses need to go through this channel at this point in time. Sofi can submit the same letter here that they claim to have also mailed out. 

  
  Sincerely,
  
  ******* ******

• Initial Complaint

  Date:02/16/2025

  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.

  I applied for a loan of $15,000. The loan was disbursed on July 23rd 2024 to an account that does not belong to me. I have been trying since July 23rd of 2024 to get sofi to remedy the issue and have been unsuccessful. They tell me they are working on it but have not come close to figuring it out now 7 months later. I've been entirely too patient with them as I can not afford a lawyer and don't know what else to do. It's almost impossible to get an explanation from them on any progress on the issue. I either need the loan cancelled or the money.

  Business Response

  Date: 02/25/2025

  Please reference attached letter

  Customer Answer

  Date: 02/25/2025

   
  Complaint: 22948980
  
  I am rejecting this response because: Anything other than this matter being resolved the way it should have been seven months ago when it happened is unacceptable to me at this point.
  
  Sincerely,
  
  **** *******

  Business Response

  Date: 03/03/2025

  Please reference attached letter

  Customer Answer

  Date: 03/04/2025

   
  Complaint: 22948980
  
  I am rejecting this response because: This matter has still yet to be resolved.
  
  Sincerely,
  
  **** *******

  Business Response

  Date: 03/10/2025

  Please reference attached letter

  Customer Answer

  Date: 03/10/2025

   
  Complaint: 22948980
  
  I am rejecting this response because: This is the third time I've received this message and the issue is yet to be resolved.
  
  Sincerely,
  
  **** *******

• Initial Complaint

  Date:02/16/2025

  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.

  On the 8th a charge of $76.60 was authorized on my debit card. It posted to my account on the 10th which I then reported fraud online and via phone. They canceled my card and told me to wait 7-10 days for my card which is completely , since I do not live in an area where virtual cards are used as suggested by the rep on the phone. Also it is now 6 days later. It took seconds for money to leave my account but 6 days later and I don't have it back yet. I've called several times, sent emails, used ** ********* and I am not getting any satisfaction. How hard is it to review my claim and give me a refund?

  Business Response

  Date: 02/25/2025

  Please reference the attached letter. 

• Initial Complaint

  Date:02/16/2025

  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.

  On 2/14/25 my account was unauthorized for the amount of $123.77 I would like to be refunded for the amount of $123.77 immediately

  Business Response

  Date: 02/24/2025

  Please see the attached document 

• Initial Complaint

  Date:02/15/2025

  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.

  Sofi lied to consumer, supposed to be a bonus if deposited a certain amount plus monthly deposit, refused to pay.

  Business Response

  Date: 02/24/2025

  Please reference the attached document.

• Initial Complaint

  Date:02/15/2025

  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.

  this site ***** FREEZES my account... and the money on there was for my rent food and medicine.. i already talked to 10 of their staffs.. on calls on email.. i have sent my ID with selfie bank statement and still i cant access my funds.. i am about to be kicked out.. please help me
  
  
  
  MY ***** NUMBERR ************
  EMAIL ADDRESS **************************
  
  
  
  
  god bless you guys.. and hope you can help me as i cant live long enough im old enought for this stress

  Business Response

  Date: 02/24/2025

  Please reference attached letter

• Initial Complaint

  Date:02/15/2025

  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.

  I have banked with SoFi bank since 2021. On January 24 2025 my account was hacked by three separate transactions, each $100. I called SoFi immediately and notified I did not authorize this transaction. They canceled my debit card and ordered me a new one and started and investigation. I received a credit to my account. On February 13th 2025 I received notification that $4800 dollars of my money was transferred to an external account called ********. The transaction was cancelled and my account was placed on restriction. I have called multiple times to speak to someone regarding closing my account and mailing me my funds. This is my lifeline and I do not have any access to any other money. There has been no timeframe for resolution or having my account closed.

  Business Response

  Date: 02/24/2025

  Please reference the attached letter.

• Initial Complaint

  Date:02/15/2025

  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.

  Bad business and banking practices with SoFi. After researching, this bank has a history of freezing and restricting accounts with no reason, returning transactions with unspecified reasons. I argued their reasons for returns bc accounts are not closed and monies are still in the account but unaccessible. They refuse to release funds claiming an investigation is pending without providing any details. This appears to be a Ponzi scheme. Every single representative is also restricted and unable to provide any information on banking transactions because their systems do not allow it. What kind of bank is unable to assist with transactions? They continuously advise that they have escalated issues to their internal review team which is nonexistent. This bank is portraying symptoms of bank failure and possibly insolvent, reason why so many accounts have been restricted at the same time. Something is definitely wrong with this bank and will be submitting complaints to the ***** **** *** *** ***** ******** ******* in addition to this one. STAY AWAY FROM THIS SCHEME!

  Business Response

  Date: 02/24/2025

  Please reference the attached letter. 

• Initial Complaint

  Date:02/12/2025

  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.

  SoFi is a scam. I did a mobile deposit for a $500 check so that I could put it in my savings account on 2/8/24. 3 hours later I received an email saying my account was restricted. I called and was told that not only was my account restricted, but pending closure. No one could tell me anything. I asked why it was being closed, the answer was violation of terms and conditions. I asked what part of the terms and conditions was violated and they couldnt tell me. I called on 2/11/24 and spoke with someone who told me that once the check cleared then I could have the money sent to me via external transfer or a check. Again, no one could tell me any further information why this account was being closed just that they are doing an investigation. I called today (2/12/24) as the money allegedly cleared and asked for it to be sent via external bank they told me it wasnt an option. I asked for a manager or supervisor, they had none available and when I asked when one would be available the person said they didnt know because they could be in a meeting or doing something. I told them that doesnt make sense for not one supervisor or manager to be around. I asked if the calls were recorded and the guy instantly got an attitude and said yea. For a **************** they dont know anything. When asking for a timeline, I dont know. They sure know how to hold your money. I never had an issue with this bank because I used the account for small things. I thought that when fraudulent activity occurs that youre supposed to be notified and asked about it as opposed to immediate action for the account to be closed. The people who work for this company are by far the worst and have no answers for you. There are no emails with any explanation; just to contact them.

  Business Response

  Date: 02/21/2025

  Please reference the attached document.