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

2,301 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.

Initial Complaint
Date:05/19/2025
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.
m filing this complaint due to SoFis failure to adequately respond to a dispute involving approximately $3,300 in unauthorized charges made by my 10-year-old autistic child.I contacted SoFi to explain the situation and initiate a disputesimilar to what I successfully did with Fanatics Sportsbook. However, instead of receiving support, I was met with vague responses and an unclear process. At one point, it appeared they were requesting photos of my child, which is highly inappropriate and irrelevant to the dispute at ******* date, no one at SoFi has provided any meaningful updates, and the disputed amount remains tied up in the app. I fear they will deny the dispute, as they have denied others Ive submitted in the past without clear justification. This is especially troubling considering their history of holding onto my health insurance deposits for 23 days, delaying access to critical funds needed for medications.I feel ignored, dismissed, and deeply frustrated. As a parent of a child with special needs, I expected a minimum level of support and understanding. Instead, Ive received silence and what seems like stalling tactics.Desired Resolution:I want SoFi to fully investigate and resolve this dispute with urgency and fairness. I also expect clear communication moving forward and an explanation of their process that does not include unreasonable or invasive requests. I am asking for the return of the $3,300 and a commitment to improve their dispute handling process for cases like mine.
Business Response
Date: 05/28/2025
Please see the attached document.
Customer Answer
Date: 05/28/2025

Complaint: 23348145

I am rejecting this response because: they approved 14 disputes denied the others when they were under the same reason then attempting to close my account in retaliation of reporting them

Sincerely,

******** ******
Business Response
Date: 05/30/2025
Please see the attached document.
Customer Answer
Date: 05/30/2025

Complaint: 23348145

I am rejecting this response because:am writing to express my serious concerns regarding the recent approval of 14 disputes associated with my account. At no point was I asked to provide any supporting documentation or photographs of my child, nor was I given the opportunity to substantiate my position with relevant evidence.
The letter I received lacks clarity and substance, and fails to provide any meaningful explanation or justification for the decisions that were made. Given the nature of these disputes, I find the process and outcome deeply troubling.
Please be advised that I am in the process of seeking legal representation to further address this matter. I expect a prompt and detailed response explaining the rationale behind the approvals and the lack of standard due diligence.

Sincerely,

******** ******
Business Response
Date: 06/06/2025
Please reference the attached document.
Customer Answer
Date: 06/06/2025

Complaint: 23348145

I am rejecting this response because:
I will not accept your response because how do you approve 14 truncations under the same dispute I am seeking legal representation
Sincerely,

******** ******
Initial Complaint
Date:05/18/2025
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 am the cosigner on student loans from SOFI. On 1/29/25 SOFI started charging interest on a student loan for ********* when only ********* was received. I have uploaded proof that 11, 459 was received in the Fall of 2025 by ************************. I have also uploaded proof, that on 1/29/25 there were 0 credit hours at ************************ and therefore no possibility of receiving a 2nd disbursement of *********. Also uploaded is the transcript proving that my son, ***** ***** withdrew from ************************ in November of 2024, also making it impossible to have received a 2nd disbursement. I have asked Sofi to correct this error and to stop charging interest on a loan that doesn't exist to no avail.
Business Response
Date: 05/29/2025
Please reference to attached letter. A final response will be sent to you via email in 7 days.
Customer Answer
Date: 06/01/2025

Complaint: 23346350

I am rejecting this response because: Sofi submitted a general response that read "we will respond directly". That does not address the problem or acknowledge their error or intent to resolve the error. I have been waiting for months for a resolution. As of now I am still getting the runaround.

Sincerely,

**** *****
Business Response
Date: 06/05/2025
Please reference the attached response.
Initial Complaint
Date:05/17/2025
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 banking is a online bank institution i made transactions with my card and had to dispute them because the merchant never sent product. I disputed with proof that the merchant never sent this item and the declined it. I appealed it with the same evidence and then they approved it. After this someone bought a very large purchase when I brought this to their attention they opened the dispute and closed after I sent them proof again. This company is supposed to protect my money and make this easy but im having to appeal this purchase again. And they are telling me that I will not see the money back in my account.
Business Response
Date: 05/23/2025
05/23/2025 - SoFi requests additional time to research and respond to the member's complaint. A response will be sent directly to the customer via mail.
Customer Answer
Date: 05/23/2025

Complaint: 23343227

I am rejecting this response because:

Sincerely,

******* *******
Customer Answer
Date: 05/27/2025
They did not send me any msg or try to reach out to me at all. In fact when I reached out to them and have not received anything back.
Business Response
Date: 06/02/2025
Please see the attached letter.
Customer Answer
Date: 06/02/2025

Complaint: 23343227

I am rejecting this response because:
I wish I can give more to help but the cash app what they claim this trasaction is going to was closed 02/24 and when I gave them proof of the closed account they told me this was not enough and denied my dispute the date the screenshot was done was 26

Sincerely,

******* *******
Business Response
Date: 06/09/2025
Please see the attached letter.
Customer Answer
Date: 06/09/2025
Better Business Bureau:

I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.

Sincerely,

******* *******
Initial Complaint
Date:05/16/2025
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.
Today may 16 2025 I was informed that certain account services would be enabled they have not and now am being told because of coding issues that my direct deposits were listed as transacting not direct deposits I was told by account manager it would be and the lady one I spoke to said that the last account manager had lied to me that there was no option for them to do so
Business Response
Date: 05/23/2025
Please reference the attached letter.
Initial Complaint
Date:05/16/2025
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.
Summary of the Issue:I am filing this complaint regarding SoFi's final denial of my fraud claim, despite evidence of nearly $3,000 in unauthorized transactions on my SoFi debit card. These fraudulent charges occurred between September 2, 2024, and February 16, 2025, totaling $2,956.75.I first noticed the fraud on December 12, 2024, and immediately contacted SoFi. Multiple managers at SoFi told me my account had a new unauthorized user account takeover. I filed multiple fraud reports throughout December, January, and February, including a police report and an FTC Identity Theft Affidavit. I submitted a formal appeal with detailed documentation, including a sworn statement and a complete list of disputed charges. Despite this, SoFi failed to notify me of any updates or the denial of my claim until May 2025, when I followed up.On May 6, 2025, I discovered through a SoFi customer service agent that an unauthorized user had been added to my account something I never consented to or was notified about. This access coincided with the beginning of the fraudulent transactions. SoFi allowed this breach without alerting me and continues to hold me responsible for nearly $3,000 in unauthorized charges.After submitting all documentation, SoFi again denied my claim, stating we still do not find that an error occurred, and refused to issue a refund or provide meaningful help.Why Im Filing This Complaint:SoFi failed to uphold its responsibilities under the *************** Transfer Act (Regulation E), which protects consumers from unauthorized electronic transactions. They:- Did not notify me of the addition of an unauthorized user.- Failed to respond to my repeated attempts to resolve the issue.- Denied my fraud claim without fully investigating the evidence.- Provided no transparency into how the determination was made.
Business Response
Date: 05/23/2025
Please refer to the attached document.
Customer Answer
Date: 05/24/2025

Complaint: 23338469

I am rejecting this response because:
This was clearly a fraud case and I expect a full refund.

Sincerely,

***** ******
Business Response
Date: 06/02/2025
Please reference the attached document.
Customer Answer
Date: 06/02/2025

Complaint: 23338469

I am rejecting this response because:
I havent received anything in the mail as of now, so this issue is still not resolved.
I have even more issues with SoFi than I did when this complaint was initially reported.
I still havent received my refund for the fraud amount that has been charged to me back in November 2024.
I also have been locked out of my account and have absolutely no access to my account or even the funds in my account.
I was on the phone with a SoFi representative just the other day trying to obtain access to my account and the remaining funds in my account. The representative also told me that SoFi has denied my appeal case once again (even though they told the BBB they reopened my case). The representative also told me that I submitted all of the possible necessary documents in order for an appeal to be successful. He says he has No idea what other information I could possibly provide and that the initial fraud reporting should have been the end of the issue and when I shouldve received the reimbursement for the fraud charges. 6+ months later, I still havent received my refund nor have they given me access to my remaining funds, since I filed a complaint with the BBB.

Sincerely,

***** ******
Business Response
Date: 06/04/2025
Please refer to the attached document.
Customer Answer
Date: 06/04/2025

Complaint: 23338469

I am rejecting this response because:
None of the charges were me OR authorized by me. SoFi let another user on my account right before the fraud charges began. They are failing to acknowledge this, because once they do theyll realize that they are completely at fault. Not one of those transactions were me, yet Im being held liable?

Sincerely,

***** ******
Initial Complaint
Date:05/16/2025
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.
I applied to get a checking and savings account with So-Fi banking. In chat with one of the representatives I was told that I needed to call the number he provided in order to correct my social security being put on two different profiles. So I called in and I corrected everything. I explained that I was needing this checking account and savings account for my job I had just got. Now one week later I still dont have a checking account or savings account and I have lost my new job because I am unable to attain a checking or savings account. But its not my fault. These establishments are not willing to give the customer service like they care about someone. They act as if they dont need your business and dont let the door hit you in your behind as soon as you walk in. Like I said Ive lost my job.For the past week I have been going in circles all because there app says at the end of putting in an application. We have sent you a text message please reply yes. For one week now I still cant get the app to send me a text message. Or so - fi to correct this issue. There has been two tickets put into engineering and the customer service team. I am very upset, I am in tears over something that I absolutely need and I feel like the representatives arent taking me seriously or what I need as a United States citizen seriously. To be honest I am feeling like because I am white I have no rights to anything because I every establishment I turn to has been rude? Just laughed in my face and basically not helped me with what I needed at all. I feel discriminated against for many reasons and Im not laughing. I need these people who work here to do there jobs. Do there jobs with the best possible customer service with a smile and handle it. Act like they care. Believe it or not it is because of the customers that they even have a job. Not the companies. The companies wouldnt have a thing of it werent for its customers.
Business Response
Date: 05/23/2025
Please reference the attached response.
Initial Complaint
Date:05/15/2025
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.
After four years of dependable service, SoFi abruptly changed the fee structure on my **** *** increasing it from 0% to 0.25%. This change was buried in an email. When I contacted support to opt out, I was told I had to complete a multi-page form and digitally sign it through Adobe PDF. For many users, this is an unreasonable, anti-consumer barrier meant to discourage people from avoiding new fees.Even as a tech-savvy customer, the process took hours just to preserve a no-fee account I had depended on for years.Shortly after, SoFi unlinked my verified bank account one I had used for over a year and that was still active on three other SoFi accounts. Support confirmed that Plaid verification passed, but an internal process failed. I was locked out and told I needed to upload documents just to regain access.I then requested to transfer my **** *** internally to a new **** *** within SoFi a standard, IRS-compliant trustee-to-trustee request. I was met with dismissiveness and refusal to help. The representative I spoke to (*******) never responded to the request and ultimately told me:There won't be anything further that we will address on our end in regards to the above.Another representative, on the other hand, immediately acknowledged my request, helped me open a new **** ***, and sent the appropriate form to complete the transfer exactly what I had asked for originally.This experience from hidden fee increases, to manual paperwork, to refused assistance and inconsistent support has made it clear that SoFi no longer prioritizes customer service or financial transparency.
Business Response
Date: 05/23/2025
Please reference the attached letter.
Customer Answer
Date: 05/28/2025

Complaint: 23335716

I am rejecting this response because of the reasons outlined in the attached letter. Please see the attached.

Sincerely,

***** *******
Business Response
Date: 06/03/2025
Please reference the attached letter.
Initial Complaint
Date:05/14/2025
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.
I am writing as a SoFi checking account holder regarding a recent dispute I filed, which was denied. I provided proof of purchase and email correspondence showing I attempted to contact the merchant, who has remained unresponsive. Despite this, I was told by a SoFi supervisorwho also identified as the account managerthat my claim could only be reviewed if I provided a tracking number by today, May 14, ******* I explained on the call, the order was never fulfilled and no tracking number was ever generated. I was informed that SoFi would not contact the merchant on my behalf unless I, the consumer, could prove the merchant did not ship the order. I was also told there is no appeals process for denied claims. I had previously sent a follow-up email on April 28, 2025, and received no response. Additionally, an account manager named **** stated she would follow up with me but never did.On the call, the supervisor mentioned that merchants can lie, and that the burden of proof lies entirely with the consumer. I am writing to confirm if this reflects SoFis official policy. If so, Im deeply concernedthis approach seems to protect fraudulent merchants and penalize consumers, potentially amounting to mismanagement of consumer funds.Please clarify SoFis stance on Whether SoFi assists in contacting unresponsive merchants during disputes.The lack of an appeal process for denied claims.A fair resolution would be for SoFi to:Reopen and fully review the dispute based on the evidence already submittedproof of payment and my documented attempts to contact the unresponsive merchant.Issue a refund, as the merchant failed to fulfill the order and I, the consumer, should not be financially penalized for their nonperformance.Clarify SoFis policies in writing regarding disputes, particularly the burden of proof when a merchant does not ship a product.Acknowledge the service failure that occurred due to the lack of communication and absence of an appeals process.
Business Response
Date: 05/23/2025
Please reference the attached letter.
Customer Answer
Date: 05/23/2025
Better Business Bureau:

I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is confirmed to me. However, the Sofi agent told me on a recorded line that he would NOT further escalate my dispute appeal request unless I have a tracking number . He said that on a recorded line but Sofi, with their questionable business practices would not take accountability for their account manager providing me with that information and telling me that it could not be escalated further.

Sincerely,

Cne ****
Initial Complaint
Date:05/14/2025
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.
This complaint is regarding the inaccurate and harmful reporting of my 12 SOFI LENDING CORP account ending in PA523**, dated 06/28/2019, with a balance of $6,676.00. This account continues to reflect negatively on my credit report without proper, verifiable evidence of its legitimacy, significantly harming my financial reputation and access to credit. Under the Fair Credit Reporting Act (FCRA), specifically 15 U.S.C. 1681i, credit bureaus are required to ensure that all information in a consumers file is accurate, complete, and verifiable. It is unacceptable for this account to remain on my credit report without a thorough investigation into its accuracy.I demand that 12 SOFI LENDING CORP and the involved credit bureaus conduct a full and transparent investigation into this account, including a meticulous review of all underlying documentation, such as original contracts, accurate payment records, and any other supporting documents used to validate this entry. I will not accept a generic, templated response or a superficial database check. If this account cannot be definitively verified as accurate, it must be promptly deleted from my credit report to prevent further financial harm. I have escalated this matter to the ************************ (***) and the ************************************ (****) to ensure my rights are fully protected, and I expect a detailed, personalized response that addresses my specific concerns. Continuing to report this account without proper verification is a reckless and willful violation of my rights under 15 U.S.C. 1681n, exposing the responsible parties to significant legal liability.
Business Response
Date: 05/21/2025
Please reference the attached letter.
Initial Complaint
Date:05/13/2025
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.
On May 9th 2025 I attempted to make an extra principal payment on a personal loan. I checked and noticed that they took interest out for this payment and reduced my next monthly payment. I called and spoke to two different representatives and was told that they do not offer a principal only payment and that would not be an option. Now when I took the loan out there was nothing stating that you couldn't make extra payment. I find this to be deceptive and predatory lending practices. I uploaded a screen shot of exactly how they applied my extra payment which was supposed to be a principal only payment.
Business Response
Date: 05/23/2025
Please see the attached document.

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SoFi is NOT a BBB Accredited Business.