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

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

• 

  SoFi Finance Inc.

  860 Washington St Fl 2 New York, NY 10014-1308

• 

  SoFi

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

• 

  SoFi

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

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:01/23/2025

  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 1/15/2025 I RECEIVED AN EMAIL FROM SOFI INFORMING ME THAT MY ACCOUNT WAS RESTRICTED FOR A INTERNAL REEVIEW. I CAN;T TRANSFER FUNDS OR USE MY DEBIT CARD. PRETTY MUCH MY MONEY IS FROZEN, I HAVE CALLED NUMEROUS OF TIMES ASKING TO SPEAK TO A SUPERVISOR AND HAVE BEEN REFUSED. I HAVE NO UPDATES REGARDING MY ACCOUNT AND I HAVE NO WAY TO ACCESS MY MONEY. I HAVE KIDS TO FEED AND BILLS TO PAY THIS IS RIDICULOS

  Business Response

  Date: 01/31/2025

  Please see referenced attachment. Final response will be sent via email.

• Initial Complaint

  Date:01/23/2025

  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 called sofi banking back, to speak with someone about the money that was stolen from my account in the amount of $955.50, an unauthorized transaction which they still keep denying anything happened. I dont know the people in the statement who hacked my account and stole my money, and sofi knows that. This call was made just 3 weeks ago, but the situation happened They reopened the case, and who i spoke with, said that whoever was supposed to handle it did not handle it, and they closed it out. They still replied with the same thing, saying they saw no error in what happened, but theyre the ones who called me telling me someone stole my money from my account. They wont bring up the fact that this happened before they closed my account. They only talk about the fact that my account is closed and theres nothing there. Whatever they can do to not return what was stolen from my account back to me. This is the second time, *** filed a complaint, and nothings been done about returning the money that was stolen from my account.

  Business Response

  Date: 01/31/2025

  Please reference the attached letter.

• Initial Complaint

  Date:01/21/2025

  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.

  Sofi is transitioning its student loans from Mohela to Sofi. The checks address was changed to Sofis new Omaha address and was mailed to them. They cashed out the check and the money has left my account but they claim that Mohela is still servicing the loan. Ive been going in circles with Mohela and sofi. Mohela cannot do anything since the check was sent to and cashed by Sofi. Sofi seems to have cashed the check but not applied it to my account. I cannot reissue the check since its already been cashed and at this point the loan is overdue with Sofi effectively robbing me. **************** just runs me around in circles for the last 3 weeks with baseless tickets and escalations and no one transfers me to the accounts team.

  Business Response

  Date: 01/30/2025

  Please reference the attached response. 

  Customer Answer

  Date: 03/03/2025

  During the transition of my student loan from Sofi-Mohela to Sofi, I received a notice to send payments to the new Sofi address in December. However the move was not finalized till Feb 10th. Two of my checks were cashed by Sofi for the months of December and January for $350 each but the money still has not been reflected in my account. I have been on endless calls since December with the constant promise of resolution in 10 business days but it has been over 2 months now. Every detail of the transaction, from the copy of the check to proof of funds withdrawal has been provided. Submitted an initial BBB complain which led them to put my account in forbearance but the missing $700 has still not been accounted for. I have spent over 30+ hours on phone calls and have plenty of email correspondence and proof. This would be my last attempt at a resolution before going to small claims court.

  Business Response

  Date: 03/07/2025

  Please reference the attached response.

• Initial Complaint

  Date:01/20/2025

  Type:Customer Service 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 restricted my account as there were $1,450 of pending deposits I made to my checking account. I spoke with their customer service on six different occasions and they all said “I don’t know why your account is restricted, please call back”.
  
  This is unacceptable and my family needs the money. It’s all we have right now and they are holding it for no reason. The deposits I made were ACH transactions so there wasn’t any hold up with a check deposit or anything.
  
  SoFi is untrustworthy and they are really putting a lot of stress in me and my family’s life right now.

  Business Response

  Date: 01/29/2025

  Please reference the attached letter. 

  Customer Answer

  Date: 01/29/2025

  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.
  

  I received a phone call from someone at SoFi within 10 minutes after writing on SoFi’s ******* page about my experience and that I was going to let the BBB know. That is when my account became unlocked and I believe that it would still be locked if I didn’t take action.

  I’m satisfied that they unlocked my account, however this wasn’t a good experience. It took an emotional toll of my wife and me. I hope SoFi will consider how their failure to take actions can be damaging to more than a bank account. 

  
  Sincerely,
  
  
  
  Joshua M*******

• Initial Complaint

  Date:01/18/2025

  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.

  SoFi permanently suspended my account without providing me with any opportunity to appeal the decision. This action was based on a transaction dispute where I had a personal agreement with the individual requesting a refund. I have documented evidence of this agreement, including messages confirming that the individual agreed to keep the item if I refunded them $100. I fulfilled my part of the agreement and refunded them $100, yet SoFi proceeded to fully refund the individual from my account, allowing them to keep the item, the refund, and the $100 I sent.
  Following the suspension of my SoFi account, I also permanently lost access to my ***** account, rendering me unable to transfer funds. SoFi has not provided any recourse or appeal process for this issue.
  My SoFi account holds $25,802.89, including funds received from the *** and deposits that have accrued investments. SoFi has refused to release these funds, alleging a violation of their agreement. Despite my repeated requests for clarification, SoFi has not provided any specific details or evidence to support their claim. This lack of transparency and access to my funds has caused significant financial and emotional distress.
  Severe Financial and Emotional Impact:
  The withholding of $25,802.89 has left me unable to pay essential expenses, including rent and credit card payments. This has resulted in:
  Missed more than $1,500 in credit card payments, likely leading to additional financial damage. Inability to pay rent on time, incurring a $75 late fee, lots of missed payments and drop in my credit score due to missed payments.
  The financial and emotional toll of these events has been devastating, especially during a critical time in my life.
  Request for Resolution:
  Immediate release of my $25,802.89 held by SoFi.
  Reinstatement of my ***** account or compensation for the permanent loss of access.
  Financial compensation for the hardships caused by this situation.
  I look forward to your prompt response.

  Business Response

  Date: 01/28/2025

  Please reference the attached letter. 

  Business Response

  Date: 01/28/2025

  Please reference the attached letter. 

• Initial Complaint

  Date:01/18/2025

  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.

  On December 4th I took out a personal loan with So-fi Bank, N.A., The application and getting the money deposited into my account went very smoothly. A few days later I went out to my personal bank account at ********** and set up autopay to start on 12/13/24 for $175.00 weekly. By the time the first payment was due on 1/5/25, I had already put $700.00 towards the loan, so first payment was paid. Meanwhile, I continued to receive notices from So-fi telling me if I set up autopay through them, I would get a .5% decrease on my percentage rate, which I just ignored being I set it up through my personal bank. On or around the first of the year I received notification from So-Fi that $659.52 was going to be withdrawn from my bank account at **********. Knowing that I had already set up the autopay through my personal bank, I went out to my account at So-Fi and found that autopay had been set up. I had never set this up. I quickly deleted everything and turned off autopay. On 1/5/25 So-Fi still took out the payment. I called them on 1/7/25 asking that they reverse/refund this payment. So-Fi advised that they would. It has been 11 days and I looked at my bank statement today (1/18/25) and I have not received the payment back and I have also incurred $385 in *** fees because of this withdrawal. I called them and was told that the request to get the payment back is in review and hasn't been approved yet. I also asked that they help cover some of the cost of the *** fee's ($385) that I have been charged with due to them taking it out after I stopped it and never setting this up through them. My payment had already been paid, they should have never taken out another payment of $659.52.

  Business Response

  Date: 01/28/2025

  Please reference the attached letter. 

  Customer Answer

  Date: 01/28/2025

   
  Complaint: 22830090
  
  I am rejecting this response because I do not know what the letter, they are sending in the mail will indicate. I had asked them to send me a copy of the complaint they stated they were submitting on my behalf; I got a generic email stating a complaint had been filed, but nothing telling me what had been stated in this complaint. As of 1/28/25, I have not heard back from them in regard to so called complaint that was submitted. I am looking for a refund of some or all of the *** charges that had accrued due to them pulling out the automatic payment that I had stopped. I do not want to receive a generic letter in the mail or no letter at all.
  
  Sincerely,
  
  **** ******

  Business Response

  Date: 02/03/2025

  Please reference the attached letter.

• Initial Complaint

  Date:01/18/2025

  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.

  My account was restricted for unknown reasons. Called multiple times no reason. Now it's set for closure. I dont care about that, bit i need my money. I just moved and need to pay the apartment and to eat. They ate holding my money hostage with no resolution time frame given. They then say they will dens a check. I want my money so I can transfer it to a real bank that doesn't randomly restrict customer accounts. The rep said some violations but didn't know what. I didn't violate anything but that's not the point. They have the right to close my account but, they need to give me my money so I'm not homeless. They are holding my money hostage and because of this I haven't been able to eat in 2 days. It's 20 degrees outside and I need to pay my bills and to be able to eat. This is unfair to withhold my money.

  Business Response

  Date: 01/27/2025

  Please see the attached document.

• Initial Complaint

  Date:01/17/2025

  Type:Service or Repair 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 transferred my direct deposit ****** ******** payment to SOFI bank. In doing so I missed the account number by leaving out one 0. When the date passed I tracked down the issue. ****** ******** informed me ,SoFi had the money for 10 days and since it had no account to be deposited into,it should have been returned right away. I contacted SoFi with the tracing number and all relevant account numbers. They started a ticket and stated it would be 3 to 5 business days. This happened 10 days after the funds were deposited by ***. These funds should have been returned within the first 3 days when the info sent along and account numbers did not match. SoFi would not expedite,would not allow me to speak to a manager. And would not answer questions. As these funds are primary source of survival, and every piece of information was given to SoFi, I do not understand why they have not returned the money. I cannot get the funds reissued by ****** ******** until they are returned by SoFi. The funds should have triggered a response 8 or 9 days ago automatically by SoFi. They have money but no place to put it,it is from *** and has my info attached. I cannot express how unhelpful this bank is.

  Business Response

  Date: 01/27/2025

  Please reference the attached letter. 

  Customer Answer

  Date: 01/27/2025

  Better Business Bureau:
  
  
  
  I have reviewed the response made by the business in reference to complaint ID ********. The deposit has been found and reissued. The underlying problem persists though. It took too much effort to fix. It was impossible to speak with the department that could fix the problem until I filed a complaint m 
  
  
  
  Sincerely,
  
  
  
  Charles A****

• Initial Complaint

  Date:01/17/2025

  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.

  Dec 4th,my account was charged $1,160.69 fraudulently. I received two different texts from SOFI at 7:02 pm saying Fraud Msg I was at a funeral at the time, the charge came from another state. I ***lied to the ********* was not me. Response Thanks Your card cannot be used until we speak to you. Give us a call at ************. I called and was told a new card would issue in 7-10 business days. I was also told the money would be returned in the same time frame. He said the charge is pending and IDd in time, it would drop off. I called back several times because I never received a new card. They were always very pleasant in a condescending manner. Stating its all fine, the holidays are disrupting delivery and to be patience. January 17th was my 5, 6 & 7th call.The first time I asked for a supervisor and was transferred to *****. He was very apologetic and told me how terrible this all was. That me suffering this way was so sad. He then proceeded to hang up on me or we were disconnected. He didnt try to call me back ever. I called right back and got another service *** and ask for a supervisor again. She to put me on hold forever, returning every 10 min or so to say the supervisor was reviewing the account and she would transfer me, but not back to *****.She finally returned and after telling me several times she would reissue the card and me saying I wanted a supervisor. I was told they would not take my call and I needed to speak with the fraud department. I was transferred there only to find out the other several people I had spoken to over 6 weeks never filed a fraud claim. No record of me or my card. She gave me this email to send my proof ************************ She was not authorized to give me numbers to anyone that could help me or any internal emails. She said she would try to help and contact someone. If I didnt hear from them next week to call back. I can provide screenshots of the original fraud texts from SOFI, call records from my ******* bill.

  Business Response

  Date: 01/24/2025

  Please see the attached document. Thank you.

• Initial Complaint

  Date:01/17/2025

  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.

  My sofi checking account has been restricted. I call and call and they say the have no resolution or timeframe. They also said someone was going to call me to verify information and no call. I urgently need my money please! I just want to get it out and close the account terrible experience.

  Business Response

  Date: 01/24/2025

  Please see the attached document.