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

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

• 

  SOFI

  6175 Main St STE 490 Frisco, TX 75034-3441

• 

  SoFi Finance Inc.

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

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:01/09/2025

  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 have been using Zelle with SoFi for several months if not years with no issues. A few weeks ago, someone tried paying me via Zelle and the transaction was blocked (I had no idea at the time). Then I tried to pay someone and SoFis app/website said that they are unable to verify my identity, so for my protection, the Zelle feature had been disabled and to try again later. Several weeks later, the issue persists. I contacted SoFi who said that they dont do anything with this and I need to contact *****. ***** told me that since it is through the SoFi app, SoFi was responsible for this error message. In the meantime I had connected my Zelle to a **************** bank account and worked with no issues (indicating that it is NOT Zelle who is putting the hold on there). After going back and forth between Zelle and SoFi MANY times, a ***** representative put us on a three way call with Zelle and SoFi. The Zelle and SoFi employee both agreed that the issue was on SoFis end. They created a ticket for technical support to fix the error. Technical support closed the ticket saying that SoFi is unable to verify my identity and to make sure all my information is correct with SoFi and Zelle (no further information provided and I changed nothing). Literally 10 phone calls between the two companies, over 4 hours on the phone today, and unable to pay a plumber who did work or collect payment from someone. Completely unacceptable from a bank.

  Business Response

  Date: 01/17/2025

  Please see the attcahed document

• Initial Complaint

  Date:01/09/2025

  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 obtained a SoFi private loan on 10/10/23 to better my financial situation and I wish I never did. Unfortunately I ran into some hard times summer of 2024 when my income was cut in half and I had numerous health issues that became a larger priority. I reached out to SoFi about the possibility of refinancing or lowering my monthly payment until I can resume my normal payments- and each time they denied it. The first time I reached out was 6/21/2024 and then 8/12/2024, 10/13/2024, 12/20/2024 and today 1/9/2025. Each time they claimed I either had “not enough financial means to pay” or had “enough financial means” I’ve reached out to the live support in addition to the dates listed above and was also met with the same response each time. I’ve asked to speak to supervisors numerous times as well and have never heard back. Their lack of support and complete disregard for their consumers is bewildering, concerning and has tarnished my credit score (down 200 pts) and added numerous layers of stress during an already stressful time for me.
  
  I’ve been telling everyone I can how terrible and unhelpful this company has been- and there are so many people with similar issues. SoFi is preying on consumers, only cares about their bottom line and that is evident by the way they are treating their customers like me.

  Business Response

  Date: 01/16/2025

  Please reference the attached letter.

• Initial Complaint

  Date:01/09/2025

  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 1/9/2025 I received a Sofi email stating my credit card limit was reduced from $7,500 to $1,000. Their reasoning states it was the result of my **** score as obtained from an ******** drop on 12/23/2024 to 564. Per Sofi's own website, my **** had been in the low 600s since 10/11/2024, dropped in the 560s range on 12/26/2024 through 1/3/2025 (8 calendar days), then returned to the same low 600's and actually reflects a slight increase in the score.
  Therefore, on the date of the letter (1/9/2025) there was no LEGAL basis to support reducing my credit card limit. Since their own **** monitoring system reflects my credit score immediately returned to the original level and again with a slight improvement subsequently, they're clearly aware of this short-term dip and thus I DEMAND they restore my credit limit back to $7,500. I have proven my credit worthiness to all financial institutions as well as with Sofi, and with my balance at $0 and it was under $50.00 prior to their decision, there's no justification for their premature and unwarranted action. Again, restore my credit limit.
  Should Sofi use any other excuses, then clearly know that when a customer takes out a LARGE "consolidation" loan to payoff other credit cards & a personal loan, there's a timing issue before those institutions report to the three bureaus that the accounts have been paid in full.

  Business Response

  Date: 01/16/2025

  Please refernece the attached letter.

  Customer Answer

  Date: 01/17/2025

  
  
  Complaint: ********
  
  
  
  I am rejecting this response because:
  

  See attachments.

  
  
  Sincerely,
  
  
  
  Scott F***

  Business Response

  Date: 01/23/2025

  Please reference the attached letter.

• Initial Complaint

  Date:01/09/2025

  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've reached out to SoFi Via chat format originally submitted a dispute for charges that were taken on my card in another state earlier this week I received notification saying that the claim was denied because they said that it was me I reached out talked to a representative yesterday it was the worst interaction I have ever had with a bank and a very long time the representative was very accusatory as well as did not understand a word that I was saying and kept saying I was using words that were too big for him to know what they mean or understand so I finally got what I was looking for and my email and they said that they need more information but if I live in a different state that should have triggered something and that should have sent me some type of notification asking if these charges were from me they were not from me there's a charge on here that apparently I did dispute because it was not me that they can see on their end but I can no longer see on my end this representative claimed that it was me and that there was nothing that they can do however when asking about the transaction the representative said several things that were very suspicious making me feel very uncomfortable having funds come into this bank I have never been to this establishment but yet you allowed someone to use my card The reason they said is because I did not report my card stolen two days before the transaction happened. That's definitely not something that makes sense that I had to dispute charges on my account before they happen or I had to report my card stolen before they actually happen I thought I was in possession of my card I don't use it everyday so therefore I don't need to constantly check if I have it I've already reached out to the merchant and the merchant is not able to do anything but the fact that you're representative was so suspicious and accusatory makes me think that this is something that you guys constantly do to members

  Business Response

  Date: 01/17/2025

  Please reference the attachment. 

  Customer Answer

  Date: 01/17/2025

  
  
  Complaint: ********
  
  
  
  I am rejecting this response because:

  The reason stated are in fact, false I never said that I did not have my card in my possession. I said I did not have my card when I spoke to one of your representatives. He turned my words around, saying very suspicious things making me feel as though you all had something to do with this I reached out to the merchant who I do not have a relationship with as stated in the decision that you use, which is false, and they said that they do not have any transactions of me coming to them and doing anything as me as an individual, I don’t give my pin number out to people so that is . I even called to speak to someone and it was like pulling teeth and talking to a brick wall because he had no idea what he was talking about and once again I asked for that phone call to be pulled up and to be listened to so you can hear how suspicious he sounded, and nothing has happened this is a fraudulent attempt on my account which resulted in several transactions being deducted as a bank you should be ashamed of yourself. I have since taken measures to get rid of you all and never have to deal with you again however I am not closing my account until my phones are returned to my account as they are supposed to Be. I never authorize anyone to use my card and I don’t have a relationship with that merchant. I will not stop until this is complete.
  
  
  
  Sincerely,
  
  
  
  Kaymann W*****

  Business Response

  Date: 01/23/2025

  Please reference the attached letter. 

• Initial Complaint

  Date:01/08/2025

  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 filing this complaint regarding the denial of my SoFi credit card application in December 2024 due to inaccurate and misleading information. SoFi claimed my application was rejected because of derogatory marks on my Experian credit report and the requirement that my accounts with SoFi be in good standing.I have thoroughly reviewed my Experian credit report and Experian, themselves, confirmed that I have an excellent credit score and zero delinquent accounts. Additionally, all my accounts with SoFi are in good standing, as required. Despite meeting all qualifications for the credit card, SoFi denied my application based on erroneous information.This decision raises concerns about SoFis compliance with fair lending laws, as they appear to rely on inaccurate data to reject qualified applicants. My efforts to resolve this directly with SoFi have been unsuccessful, as they have not provided clear evidence or justification for their decision. This seems to be unlawful.AND (on a separate note)I opened 2 accounts (checking and savings) with them and should have gotten an intro bonus and have yet to receive that, as well.

  Business Response

  Date: 01/17/2025

  Please see the attached document 

• Initial Complaint

  Date:01/07/2025

  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 have an account with the institution and have tried to contact them several times and this issue. My account has been frozen for nearly a year now and every time I have spoken to a customer representative I get the same information "my account is pending closer". It's been way past the thirty days they informed me the closer would take and I would receive my funds by mail in the form of a check when my account is fully closed.

  Business Response

  Date: 01/17/2025

  Please reference the attached letter. 

• Initial Complaint

  Date:01/07/2025

  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.

  Charged me margin disabled margin on account

  Business Response

  Date: 01/17/2025

  Please reference the attached response. 

• Initial Complaint

  Date:01/07/2025

  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.

  Sudden Unexplained Bank Closing

  Business Response

  Date: 01/16/2025

  Please reference the attached letter. 

• Initial Complaint

  Date:01/07/2025

  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 or about January 4 2025 I attempted to use my bank account and noticed it said my account is currently restricted. I also noted it said please reach out to us for more information to which I did and was only told my account is being reviewed. I call 3 days straight to ask what is the restriction no one can tell me what the the restriction is or for. I wrote a check to an attorney for 8700 which I am afraid now it is going to bounce not only that a check was written for 2500 that also is going to bounce while the money is there but the restriction is not lifted after contacting Sofi

  Business Response

  Date: 01/16/2025

  Please see the attached document 

• Initial Complaint

  Date:01/06/2025

  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 refinanced my ******* Student loan with SOFI, the distribution date was listed on my loan as 11/12/24 and I was charged interest based on this date. However, my loan did not disburse until 12/11/24. SOFI confirmed that the funds "had to be reissued", but are refusing to adjust the interest charged accordingly.

  Business Response

  Date: 01/17/2025

  Please reference the attached letter.