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Business Profile

Loans

SoFi

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

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

    • 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 Finance Inc.

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

    Customer Complaints Summary

    • 2,320 total complaints in the last 3 years.
    • 774 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:01/17/2025

      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 closed and transferred my SoFi brokerage account to another financial institution. The transfer was completed today, 01-17-2025. I had only $10.00 in cash funds in my account. Upon the completion of the transfer SoFi charged me $100.00 transfer fee, which I was not informed of in advance. There is no phone support or live person to contact at SoFi to resolve this issue. I have attempted to contact SoFi numerous times via their chat support, but to no avail. Their chat support is only automated, with no live chat support. It is unconscionable, unreasonable and unfair that SoFi can get away with this kind of practice.

      Business Response

      Date: 01/24/2025

      Please reference the attached letter. 

    • Initial Complaint

      Date:01/17/2025

      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.
      Sofi is refusing to unlock my zelle feature if I can't receive direct deposit after explaining to them numerous times that I get paid through zelle, I can't even find my account like they want without the zelle feature and the customer service team is not taking me seriously. Please help me so I can get paid from my employer and fund account

      Business Response

      Date: 01/24/2025

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

    • Initial Complaint

      Date:01/16/2025

      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.
      In mid-September 2024, I opened a SoFi Checking account based on the promise of receiving a $300 bonus upon depositing $5,000 or more in direct deposits during a 25-day evaluation period. My evaluation period began on September 18, 2024.The following direct deposits were made to my account:September 18, 2024: $1,456.71 from Compressor Controls (owned by Honeywell).October 2, 2024: $1,456.71 from Compressor Controls.October 10, 2024: $2,990 from Compressor Controls.These deposits total $5,903.42, exceeding the $5,000 threshold.Before the final deposit of $2,990 on October 10, 2024, I contacted SoFi customer service on October 6, 2024, to confirm the transaction would qualify as a direct deposit. I was reassured that:As long as the deposit was from my employer (Compressor Controls) and set up as a direct deposit, it would qualify.f the coding was incorrect, SoFi would adjust the deposit or correct the coding issue.After the October 10, 2024 deposit, I contacted SoFi again to ensure the deposit was processed correctly. Despite reassurances, the $300 bonus was not applied; instead, I received only $50 on October 13, 2024. SoFi determined less than $5,000 in qualifying direct deposits were made during the evaluation period.I raised this issue with customer service multiple times:October 13, 2024: A request for an adjustment was submitted, with no follow-up received.November 22, 2024: Another complaint was filed, but again, I heard nothing.Even SoFis customer service agent acknowledged this issue was not my fault, yet no resolution has been provided.I am seeking intervention from the Better Business Bureau to ensure SoFi honors the $300 bonus offer. I followed all requirements and provided clear documentation of my deposits. I have been patient, but SoFi has not resolved this matter despite multiple attempts.Desired Resolution:I request that SoFi honors their promotional promise and applies the remaining $250 bonus to my account.

      Business Response

      Date: 01/24/2025

      Please reference the attached letter. 

    • Initial Complaint

      Date:01/16/2025

      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.
      My husband and I applied for a personal loan to consolidate medical bills we had on different credit cards, finish paying off our truck and the last of the backdated child support. We were offered a $34,000 loan at *****%. We both agreed and I went ahead and signed the loan. On August 6th, SoFi bank deposited the $34,000 to our joint bank account. My husband passed away in his sleep on January 5th at the age of 45. I am looking at our finances and trying to consolidate and downsize as much as possible to be able to support my two children and remain afloat. Looking at the SoFi app, it shows we still owe $31,239.08 and that seemed wrong to me. We have made 5 payments in the amount of $789.18 that total to $3,945.90 and in August ****** I made an additional payment of $800 bringing our payments to $4,745.90. I called SoFi today 1-16-2025 at ************* at 2:24pm (on a recorded line from SoFi) to inquire why it seems I am missing $1,984.98 of the payments I have made. I was informed that the *****% interest is not for my total loan amount they said it is computed daily. They further said that from my $800 additional payment only $412.90 was applied toward the principal and the rest was taken by interest. I asked if I make a lump sum payment how can it be applied directly towards the principal to reduce the debt and I was told they do not work like that they first take the interest that is computed daily. I went ahead and did the calculations of $789.18 for 60 payments resulting in $47,350.80 if I subtract the original $34,000 this means an interest of $13,350.80 which means the interest rate is 39% and not the original *****% I originally signed up for. How is this legal? Please help me figure out a way to make this just.

      Business Response

      Date: 01/24/2025

      Please see the attached document.

    • Initial Complaint

      Date:01/15/2025

      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.
      I had an account with this company and funds and account just disappeared. I recently received a email that the funds are going to be turned over to the rightful owner but I am the rightful owner. Those funds came out of my ss check and are being held by this company. I think this company is a scam and will say just about anything to keep consumers funds. I been trying to close this account for years and its always being denied stating I am not the owner but I am. I want my funds that I deserve and am entitled to have access to my own money.

      Business Response

      Date: 01/24/2025

      Please reference the attached letter. 

    • Initial Complaint

      Date:01/15/2025

      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.
      Hello,
      I called Sofi Bank yesterday, 1-14-2025 to report unauthorized transactions on my account. Instead of Sofi Bank doing a full investigation. A few hours later I received an email saying they did a thorough review and found no error occurred. I told the rep 1. I have possession of my card. 2. I did not authorize any of the transactions from the merchant. 2. Never did business with the merchant. 3. Did not authorize anyone to conduct transactions on my account. 4. That the transactions are fraud. I also sent via an email link Sofi Bank sent me, a signed statement stating this. Someone looked over my account and made a discretionary decision which is completely erroneous and violates the protection of the customer. I need Sofi Bank to actually investigate my claim and return my funds back to me.

      Business Response

      Date: 01/24/2025

      Please reference attachment. 

      Customer Answer

      Date: 01/25/2025



      Complaint: ********



      I am rejecting this response because: A few days after I reported the unauthorized activity on my account I called again to report the same merchant processing transactions which really confused me because how are they still charging me after I reported them and my card should of been blocked and replaced. Sofi responded to my claim and agreed that it was unauthorized activity from the merchant and returned the three small transactions, but they are denying the previous claim is unauthorized. If you determine one claim from the same merchant as unauthorized then how can you deny another claim from the same merchant. My first claim needs to be treated like my first claim. If the first claim is authorized according to Sofi which it is not then the second claim should of been the same finding instead it seems like someone is picking and choosing which claims to deny instead of actually helping the customer. 



      Sincerely,



      Kewand H****

      Business Response

      Date: 01/30/2025

      Please see the attached document 

      Customer Answer

      Date: 01/30/2025



      Complaint: ********



      I am rejecting this response because:

      I do not agree with the decision. The transactions were unauthorized 




      Sincerely,



      Kewand H****

    • Initial Complaint

      Date:01/15/2025

      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 reached out to the bank multiple times on a dispute. I have gotten generic messages that the dispute can take over 90+ days. Its been over + days and I have done the investigation as well as sent supporting document and information on merchant and shipping information to support my claim and yet I not received any information. They stated that the merchant has an extensive amount of time to respond, but hasnt gave me an exact timeframe and I have never witnessed such a long period of time on a dispute that has not been resolved, I reached out to To the merchant through the Better Business Bureau, but due to the fact that I did a chargeback, they said that I wont be able to give me any more information and that I will have to resolve it with my bank. My bank has not gotten back to me with any results or resolution. Ive been disputing my crane with the merchant since October. Brought it to my banks Knowledge in November. I asked for someone to get back to me from the back office with a phone call. No one never called me as well. Ive called the customerservice to escalate the phone call but no one else can give me any information. The chat service is very generic and thats unacceptable. I keep getting the same response with no type of update on the claim its unfortunate that I keep getting the automatic message but no response.

      Business Response

      Date: 01/24/2025

      Please reference the attached letter. 

    • Initial Complaint

      Date:01/15/2025

      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 sent a message on January 11th regarding the status of my dispute and have not received any response. I do not appreciate how Ive been treated as a customer of ********************** Bank. My previous disputes was resolved with being provided a provisional credit while they complete their investigation. These transactions should have been included in the original dispute on 1/02/2025 whereas there from the same merchant but were missed. I should have been given a credit while this investigation go on also, but instead Ive been ignored and mistreated by SoFi dispute staff who refuses to respond to my questions. Ive been a loyal customer for a few years now and safe guarding my funds is a high priority. Ive spoke to ****** service and they indicated the back office is whom I have to speak with and they arent taking calls and was instructed to send a email and I did and have not received any response.

      Business Response

      Date: 01/24/2025

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

    • Initial Complaint

      Date:01/14/2025

      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.
      My complaint is regarding my card being lost And and my pin was also lost on a paper written down sofi replaced my card and disputed transaction's that was not authorized by me but found no error in 2 days how can my dispute be looked into in 2 days I ask that my dispute be opened back up and my money to be put back on my card because my bills need's to be paid and I will be calling the news and my lawyer if my money don't be back on my card because I didn't make any of the transactions.

      Business Response

      Date: 01/24/2025

      Please see the attached document.

    • Initial Complaint

      Date:01/14/2025

      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.
      Transaction declined due to uncollected funds 12/29/24. Balance including pending transactions on that day did not go below $686.20. My available balance the night before was $707. I made purchases knowing that I would have a $345.60 transaction for a credit card. My first call with the manager she told me I had $259.00 and my card was declined for that reason. After doing the Math to confirm she told me that at the time of the transaction I had enough money for it to not bounce. I requested them to send me the transactions that were made that day including all pending transactions on 12/31/2024. I was told it would be returned in 2 days. It has been 2 weeks. I spoke to another manager that told me something different. The last person I spoke to told me my available balance at the end of the day before was $346. My available transaction was showing $707 at the end of that day. Why is my available balance on my end showing different than their end? If it was as simple as showing the pending transactions why do I still not have those numbers? I have been given a late fee and interest due to their accounting issues.

      Business Response

      Date: 01/24/2025

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

    SoFi is NOT a BBB Accredited Business.

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