Business Profile

Loans

SoFi

Headquarters

This business is NOT BBB Accredited.

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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.

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

Customer Complaints Summary

2,304 total complaints in the last 3 years.
764 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:05/13/2025
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 opened an account a year ago. My account was hacked and I was at first told they would resolve it . However they closed my account instead and they have kept my money for three weeks. I have called numerous times in hold for hours. I cant get any response its so frustrating! They offer no answers and I need my money!!!!
Business Response
Date: 05/22/2025
Thank you for submitting your BBB complaint. We will send the final response to you via email. We appreciate your patience as we work to address your concerns.
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.
When I opened my account with **********************, my ****** pay and ******* wallet worked beautifully, then suddenly it stopped working, about 3 weeks after I opened the about.. Then suddenly SoFi wanted rare once in a while transaction verifications, that over time began to get worse by the day, to the point now, the ONLY transactions I don't have to do verifications on, are doordash. To make matters worse, once in a while SoFi started something worse for every online order I did especially Amazon, SoFI now require me to utilize my phone and scan my card. And then it became every order, driving me insane. To one up themeselves, SoFi started disconnecting my ************ Account Verification Software)" linked external accounts without notice, cause, and with no violation of any portion of the account terms and conditions they randomly cut them off, costing me money because the bank account isn't linked. I have repeatedly spoken to them, and have even been outright lied to me that the issues are resolved and everything continues to happen.
Business Response
Date: 05/22/2025
Please reference the attached letter.
Customer Answer
Date: 05/22/2025

Complaint: 23321763

I am rejecting this response because: this is a generic canned automated response that does NOT address the issue at all and is completely unacceptable response given the fact this is what they have stated for the last month, with NOTHING being done.

Sincerely,

***** ******
Business Response
Date: 05/28/2025
Please reference the attached letter.
Customer Answer
Date: 05/28/2025

Complaint: 23321763

I am rejecting this response because:
This is continously outright patent lies by SoFi, as I have provided previous documentation when speaking with their **** in March, April and May about them unlinking external accounts connect through plaid, including the history provided by plaid documenting date, time, and entity disconnecting it and the reasons.
While Account security is important, having to verify EVERY transaction in store in person with card chip and test messaging and online with a card swipe, the declination to allow the card to be added to a digital wallet is far below recognized industry standards and published by the **** in 08/2022. Having spoken with merchants, and **********, it has been determined the problem is solely with SoFi alone. SoFi attempting to bring in others is highly inflammatory, defaming, and slanderous of the others and shows how SoFi is completely out of touch with their customer base. In fact, we know it is an issue, because it doesnt occur on the other card on the account, just mine!!! Therefore, SoFi must bring the account inline with industry standards, remove the fraudulent alerts somehow attached to the card, immediately or we will seek action as described in terms through authorities, including payment for disconnecting the plaid auto pays sitting at over $4,000.00 that is the sole responsibility of SoFi for doing this to my account.
Further, we will gladly provide even further history, written statements from merchants, and ********** stating all of this is the sole responsibility of SoFi.
Additionally after further review of their responses to countless other claims on here, this is another pre-canned auto generated response, not one addressing the issues.
Sincerely,

***** ******
Business Response
Date: 06/03/2025
Please reference the attached letter.
Customer Answer
Date: 06/03/2025

Complaint: 23321763

I am rejecting this response because: it is a canned automated response that is PATENTLY FALSE and not based in fact or reality. SoFi does NOT meet the minimum industry standards and ********** has even stated as such. I have supplied evidence proving this is a lie, including contact dating back to March 2025 on this issue.

Sincerely,

***** ******
Initial Complaint
Date:05/12/2025
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.
I called Sofi because my card kept declining. Sofi states that they give a 50 grace for the plus members in which they will cover you if you are short. I call them to ask why my card keeps being declined and Im being told that I am no longer eligible for the $50 ****** My thing is if thats the case why not notify the user they are no longer eligible. I literally just had someone Zelle me the money so I can make the purchase needed and now yall tell me this. Then I ask to speak with a supervisor I get told hold on as they will go find me one just to comeback 10minutes later and have the same representative talk to me about my account. So not only did he put me on hold for nothing you just lied to me about getting a manager or supervisor. Then i tell him i dont want to continue my this convo with him as i only want to speak with a supervisor they continue to harassed me until i got mad and had to basically start yelling. He finally says he going to get a manager now just for me to be on hold for another 30minutes and no manager answers. Here it is an hour later and i still have not got a phone call back or anything even after selecting the call back option. So now at this point not only am I unable to get what I needed but now Im being lied to by **** company employees and being played with as well
Business Response
Date: 05/21/2025
Please reference the attached letter and attachments.
Initial Complaint
Date:05/12/2025
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.
Sofi Bank cashed a check around February 10th which was for $9,036.99 and refused to credit it to my account or return the funds. It is now May 12th. The submitter of the check has confirmed that it was cashed and stamped by Sofi. I have continued to be billed and charged interest for the loan that was paid off using that check.
Business Response
Date: 05/20/2025
Please reference the attached letter.
Initial Complaint
Date:05/12/2025
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 was tricked by a merchant into making a payment for a service that was complete, and when I reached out to my bank to explain that the charge was the incorrect amount, the bank did nothing. SoFi did not even explain to me why my dispute was closed; they did not inform me of anything. I had to call to explain the same situation to them. I wish I had banked with ***** or ***************; at least they care about their customers. These internet banks are not trustworthy, and the customer service is not there. I still have not received my money back.
Business Response
Date: 05/21/2025
Please reference attached letter
Initial Complaint
Date:05/11/2025
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.
SoFi Bank has closed my checking and savings account without any explanation. They said that I violated their user agreement which is not true. They said they pulled a consumer report and based on that information they cancelled both my accounts. This is a violation of the fair credit act.
Business Response
Date: 05/20/2025
Please see attached document.
Initial Complaint
Date:05/11/2025
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.
Reported several time this company close this account no longer need account or email but some one use my identity to open this account and this. Many dont care policy follow reported **** and other related. Contracts Strict final notice close immediately otherwise serious consequences come
Business Response
Date: 05/20/2025
Please see the attached letter.
Initial Complaint
Date:05/09/2025
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.
they wont open dispute and hang up on each call i recorded because it is retaliation.lack of fidicuiary duty, breach of contract,waste of time. suing them for not refunding *** on proven to win dispute docs sent 49 times.
Business Response
Date: 05/23/2025
Please reference the attached response.
Customer Answer
Date: 05/23/2025

Complaint: 23311267

I am rejecting this response because: they clearly ignored the 44 repeated sends of all attachments and apparently just chose the wrong ones if they were after 44 times and i sent the calls where they hung up when they saw this phone number and all recorded calls. altra was never disputed for 600 plus amount. never. always the parital lackking refund from altra which altra gave BEFORE DISPUTE opened. all their communications, record keeping and review are clearly off and we have no choice but to go to arbitration as this was clearly and continually very mishandled.

Sincerely,

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

Complaint: 23311267

I am rejecting this response because:
Again, they are mixing up so much. NOthing was done with sw. I already sent all the proof many times and they are still saying they dont have it when they just are not opening the attachments and reading it all. they have all they need and i never mixed this up with any disputes. i have copies of all chats and calls. i will continue to seek legal action.
Sincerely,

****** *****
Initial Complaint
Date:05/09/2025
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.
On 5/4/2025 I attempted to make a purchase from Extended Stay America in the amount of $438.34. I transferred the funds from my savings to checking and neglected to bring my account from overdraft to current before doing so. I attempted the payment that declined but was still withdrawn from my account. I was told ************************ the authorization was set to return by 6/3/2025. I was not satisfied with that date so there was a ticket created to escalate the situation. I was told this would take 2-3 business days from 5/4 to settle and to date (5/9) I still have not received my funds. I have listed the ticket number below. I have already checked with the hotel and they never received payment from me.
Business Response
Date: 05/16/2025
Please reference the attached letter.
Initial Complaint
Date:05/08/2025
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 have auto bill pay and get the same amount deducted each month through my bank. I also have the option of sending electronic payments randomly. I have used that during the past year to T-Mobile but put in the wrong account number . I sent approximately 31 payments totaling approximately $282.69 . Recently I inquired with as to why my monthly bill is always the same and why none of my payments were credited. Because the wrong account number was posted they were not posted to my account. I contacted T-Mobile and my bank SoFi. My bank said I could not file a dispute and I am surprised that they will not assist. They are gaslighting me and not being respectful or responsive. They only respond with generic emails stating they are there to help yet dont actually assist. I have been kept on hold with annoying music for hours on end. I keep getting gaslit by customer service. For example ***** in **** stated he will file a dispute. Instead he had kept me on hold, annoyed me and not listened to any concerns. And never followed through never filed a dispute. They have no right to gaslight and waste peoples time . Thus customer *** is just one example of shady business practices. I have every right to my funds yet this bank refuses to help me. They are earning a bad ***utation and thats shameful. I hope another banking entity comes forward because this one is very bad. ******* and ***** who are account ***s were extremely argumentative and gaslighting me continuously. They refuse to help and intervene and show lack of concern , laziness and bad behavior.
Business Response
Date: 05/09/2025
Please reference the attached letter.

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SoFi is NOT a BBB Accredited Business.