Business Profile

Loans

SoFi

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

2,315 total complaints in the last 3 years.
770 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:12/27/2024
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.
Online bank has made it impossible to reach someone via email. Phones are always busy and I have a paycheck I need today. My employer confirmed the deposit but my account is still saying $0 balance. I do not easily have an access to a phone connection. Ive attempted to use the chat feature however the issue has not been resolved and no information other than calling has been given. Again, the phone is busy all the time. I am requesting that my check show on my account with status via email.
Business Response
Date: 01/03/2025
Please reference the attached letter.
Initial Complaint
Date:12/26/2024
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 loans through Sofi on November 21, 2024. One of the refinanced student loans was with ****. Sofi had claimed that all funds have been disbursed to my previous student loan providers, including ****. My loan balance with **** didn't change after more than a week, and I called **** who confirmed they have never received the check that Sofi claimed they sent. I called Sofi who said I needed to wait a couple more days. A couple more days passed and **** still didn't receive the funds. Sofi claimed they would create a ticket to figure out what happened to the check. They never got back to me so I called today, December 26, 2025, and Sofi told me the check has already been cashed on December 3, 2024 and that I should reach out to **** to verify. I reached out to **** again with the check number ******** and transaction number ********** that Sofi provided. They confirmed to me again that no such check was received by **** and that they do not have any records of cashing such check. Sofi claims that they have "disbursed the funds" and is refusing to cancel that portion of the refinancing. They have further been collecting interest on loans that have never actually been received by the original lender. This is fraud - Sofi cannot claim that they have disbursed funds and collect payment from me when the funds have not actually be disbursed properly. I want this resolved immediately and intend to sue shortly if this is not resolved through non-legal methods.
Business Response
Date: 01/02/2025
Please see the attached document.
Initial Complaint
Date:12/26/2024
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.
The issue happened today 12, 26, 2024.I normally like to keep my card frozen periodically. If I know I have an upcoming charge that I am not ready to yet make payment on so I logged into my account this morning. Everything was fine. I froze my card close the app and took a shower upon getting out of the shower. I noticed that I received an email stating that my account was suspended And pending closure. This is the third time this bank has done this to me and its the day after Christmas and I have a bunch of things to tend to and Im also waiting for a deposit for me to pay my rent. This is the worst financial institution that *** had dealt with thus far in my 30 years of life. It is literally always a hassle with them and this is wrong and unfair because I dont have time to change my direct deposit and get my rent money into a different account they put you through loops and boundaries multiple times due to suspicious activity all I want them to do now is lift this ridiculous suspension and allow me to verify charges if they think they are suspicious so that I can get my rent money deposit and then close this account down on my own terms. If you are reading this and thinking about using this company, please do not they do not care about their consumer and make rash decisions without your consent.
Business Response
Date: 01/03/2025
Please reference the attached letter.
Initial Complaint
Date:12/25/2024
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 earned 2179 points on their credit card rewards program. SoFi website shows that these points were redeemed on 11/30/2024 to my invest account. They then said that this invest account was subsequently closed and that the funds (2179 points = $21.79) were sent to my ********* account. Nothing was received by my ********* account as of 12/25/2024. Multiple chats with the support team failed to resolve the issue. One email was sent that contained incorrect information, so as instructed in the email, I replied, but no response. The latest chat person promised me they would follow-up in 2 to 3 business days, but again, they failed to do so. I have spent hours trying to resolve this with SoFi and they acknowledge that I am owed these reward points but they fail to honor their own terms. Where are those 2179 points? They are NOT where multiple chat agents have said they were. SoFi owes me those reward points.
Business Response
Date: 01/03/2025
Please reference the attached letter.
Initial Complaint
Date:12/24/2024
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 withdrew $402.87 in cash using an **** ATM in the ************************************* arrivals area on 12/19/2024 using my SoFi debit card. Immediately after making the withdrawal, I received a fraud alert text message from SoFi with the following message:Hi from SoFi. Did you try to spend $248.41 at ********************,*************,,***? Reply YES or NO within 1 hour, or verify this transaction on the SoFi app or website.I denied this fraudulent transaction of $248.41. I then checked my checking account and noticed two additional charges from the same merchant for $398.25 and $14.93. I did not make any of these three purchases from MERPAGO*PLAZALGOREAL. I had just arrived in ****** and the only location I had used my debit card in ****** was the **** ATM in the airport.I disputed the two posted fraudulent transactions. SoFi denied both claims and refuses to refund the stolen funds.
Business Response
Date: 01/02/2025
Please reference the attached letter.
Customer Answer
Date: 01/02/2025
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:12/23/2024
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 was arrested September 17, 2024 and I told my godmother if he could hold a car she knew my pin number but I didnt authorize her to take money out of my account two separate transactions. I reached out to her. She told me to meet with the bank when I dispute with the bank recently the bank denied vote for the claims and what is attached. Is the police report where I was arrested and I was in jail for **************************************************************************************************** *********** *******. I told the bank they also can call the public defenders office in the jail house in L verify the dates I never authorize anybody to take the Social Security money. I asked to pay for a provisional credit to put the money back, cause Im losing my house, losing everything and the bank would not give me the credit they keep denying it said theres no wrong door. If you go to the *** surveillance that day you would not see me. I dont own a car I dont own nothing but the thing about it is I would like my $900 back.
Business Response
Date: 12/31/2024
Please reference attached letter.
Customer Answer
Date: 12/31/2024

Complaint: 22724551

I am rejecting this response because: I did not have no way to call them from the ********************** to report the car stolen. They can call the **************** and ********************** but these charges are fraudulent and I would like that money back.

Sincerely,

******** ******
Business Response
Date: 01/09/2025
Please reference the attached letter.
Initial Complaint
Date:12/23/2024
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 checking account was 'hacked' and $4200.00 was taken. The fraud was confirmed by SoFi and I have been told for a week now that I would be receiving a return of the $4200.00. I opted to have a new checking account opened and the funds put into it so as not to return money to an already compromised account. So far, no account has been set up and every time I call and I am told there is nothing else to be done, they are waiting on the account setup and return of funds...as I am!!!! I have requested to speak with a manager/leader but have yet to receive a call. I was told today that a manager will only tell me the same thing I've been told and nothing will change.
Business Response
Date: 12/31/2024
Please review the enclosed letter. Thank you.
Initial Complaint
Date:12/22/2024
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.
SoFi customer support claims they will hold a pending transaction for 30 DAYS even though the original merchant has finalized the transaction and released the hold. There should be a banking regulation to prevent this. The only reason to hold a customers funds is to gain interest on the transaction. 30 DAYS is unreasonable!
Business Response
Date: 12/27/2024
Please reference the attached letter.
Initial Complaint
Date:12/22/2024
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 had an account with SoFi debit card and my account was hacked around December 3rd, losing $1200.00 ...
SoFi treated myself and my wife with total lack of respect, and beyond rude and apathetic . After reporting the theft to SoFi, the restricted my account where I could not monitor the activity... Informing me that the will contact me thru my Gmail.. I have never received any notification ...
After calling every day they apparently closed my account and i cant even monitor the account activity as of December 22, 2024 ...
I received a evection notice because i could not pay any bills...
I have had any negative experience from any banking institution as this !!!! The staff was extremely rude and apathetic
I did find the hacker of my account, ****** ****** , from Nigeria using an I phone,
hacking into my ****** account !!!
My email is *****************
Business Response
Date: 12/27/2024
Please reference the attached response.
Customer Answer
Date: 12/28/2024

Complaint: ********

I am rejecting this response because:

Sincerely,

Erik O**
Customer Answer
Date: 01/08/2025
yes on December 7 -8 , 2024
my account was hacked thus this the money stolen from my account thru a " pay a 'freind" service I never authorized .. to an ****** ****** , which I don't not know !!!
12/8 *********** $300.00

12/7 ************ $ 400.00

12/ 7 ***- ******** $ 200.00

12/7 ************ $ 200.00

12/7 ************ $ 50.00

12/7 ************ $100.00

total
$ 1250.00
the bank has not refunded the amount taken as of 01/08/2025 ...and has quite rude as well as I have never re lived and communicate about this event

Business Response
Date: 01/14/2025
Please reference the attachment.
Customer Answer
Date: 01/15/2025
I have gotten the same message but , SoFi never informed what I did that was not in compliance.. As far as the ****** ****** withdraw's from my account, I have never ever approved those with withdraws or know who this person is. SoFi have ever explained that..I feel SoFi is skirting the issue on my account..Upon contacting SoFi , all they inform me is my account is closed
Initial Complaint
Date:12/22/2024
Type:Sales and Advertising 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 bank has been locked and restricted for two weeks with no effort to help me lift restriction I make daily bill payments employment direct deposits I have called numerous times and get the run around they tell me it’s been lifted it had in fact not been lifted!
Business Response
Date: 12/31/2024
Please see the attached document

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SoFi is NOT a BBB Accredited Business.