Business Profile

Loans

SoFi

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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.

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Complaints

This profile includes complaints for SoFi's headquarters and its corporate-owned locations. To view all corporate locations, see

Customer Complaints Summary

2,312 total complaints in the last 3 years.
767 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:12/08/2024
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.
Hello, I used an atm machine while I was in ***** on September *******. The atm denied my transaction but still charged my account. I filed a dispute with my babk Sofi and here it is almost 3 months later and Sofi is telling me they are still waiting for a response from ****************** to respond. The transaction was for *****.
Business Response
Date: 12/16/2024
Please reference the attached letter.
Customer Answer
Date: 12/16/2024
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 can't see the business response but they have released the claim so I received my money back. Thank you.
Sincerely,

********* *****
Initial Complaint
Date:12/08/2024
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.
Im VERY unsatisfied with the service provided by SoFi. Ive being trying to refinance my student loan for more than a month and, even though they made hard pull of my credit, they still havent let me finish my refinancing process due to technical issues.The first issue was that my loan application wouldnt appear in the app or website, even though the SoFi central could see it - as such, there was no way for me to finish it. They opened ticket MTS-***** and closed it saying the issue had been solved - it hasnt, and I continued not being able to see my application.Due to that, I decided to create a new one - now, though, Im getting another technical issue, with the platform saying I cant refinance such loan (and yes, Ive verified all the requirements and I can). Im getting the warning that Bar, relocation, and training loans are unavailable for refinance at this time, but my current loan doesnt fit any of this criteria. Proof of this is that I was refinancing exactly such loan before, but the application disappeared from the system and such was the only factor preventing me from finishing the ************** such, another ticket was opened with SoFi (MTS-22645) and I was told itd be solved in 1-2 days, allowing me to finish the refinancing, but it hasnt.Even though SoFi is treating this issue carelessly, MY HARD CREDIT PULL BY THEM IS VALID ONLY UNTIL DEC 13. Because of that, I require the immediate fix of this issue, allowing me to refinance the loan, since I wont allow a hard credit pull to be in my credit score for no reason, considering Im not being able to finish this process due to SoFis technical ********* also talking with my lawyer to check how much is the difference between the interest currently incurring in my loan and the one that should have started incurring from the refinance time (if it werent for SoFis neglecting), and will legally sue the company to get that money difference.ATTENTION: Any contact should be via email!
Business Response
Date: 12/17/2024
Please reference the attached letter.
Customer Answer
Date: 12/17/2024

Complaint: 22656715

I am rejecting this response because: there has been absolutely no resolution yet to the issue.

Sincerely,

******** ******* ****** *********
Business Response
Date: 12/24/2024
Please reference the attached letter.
Initial Complaint
Date:12/07/2024
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.
On November 06th I disputed a charge to my account from a merchant, the merchant had sent a package that was never recieved. I contacted the merchant for a refund and they told me that it would be best and fastest to dispute it with my bank. It has now been over a month with NO refund and NO temporary credit from SOFI. The merchant has yet to be contacted by the bank as far as I know because I called the merchant and there were no further notes on my account. I want my temporary credit and refund immediately. For such a simple task of calling the merchant and confirming the lost package, over a month is ridiculous with no credit or refund.
Business Response
Date: 12/16/2024
Please see the attached document
Customer Answer
Date: 12/16/2024

Complaint: 22656161

I am rejecting this response because:
I paid $147 to *************** for a package that was NEVER DELIVERED. They refused to refund the order and told me to instead dispute it with my bank. My bank, SOFI, has yet to do their job. Had they done an investigation into the matter thoroughly, they would know that the merchandise I paid for was never received. If I do not receive a credit for the undelivered item I will be forced to take further action.

Sincerely,

******* *******
Business Response
Date: 12/20/2024
Please see the attached document
Customer Answer
Date: 12/23/2024

Complaint: 22656161

I am rejecting this response because:
I spoke to *************** on December 18th for two hours. They confirmed that the package was likely not delivered by *** and that my bank was advised to contact them again. SOFI refuses to contact *************** and loop me into the call because they do not want to submit the refund. The agents at SOFI have been rude, dismissive, and unprofessional. SOFI is in error and if the case is not closed in my favor asap then I will take this to small claims court.

Sincerely,

******* *******
Initial Complaint
Date:12/06/2024
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.
My debit card number was stolen virtually. The theft and fraud was done through five purchases online: Nov 7 | Kalshi Account Funding | Debit Card | -$600.00, Nov 7 | Kalshi Account Funding | Debit Card | -$600.00, Oct 30 | Helix Medical Virtual | Debit Card | -$98.75, Oct 29 | ****** *ACADEMICFUN | Debit Card | -$50.00, and Oct 29 | ****** *ACADEMICFUN | Debit Card | -$50.00.I contacted SoFi to report these transactions as fraud since this debit card was through Sofi. After giving all the information I could and waiting a few days, Sofi said, "After conducting a thorough investigation, we have determined that no unauthorized activity has occurred, and as a result, your claim has been denied." After contacting them multiple times to obtain the documents they used to come to this conclusion, they gave me what I attached to this form (********* 7010.pdf). The documentation they gave me was primarily useless, except for the five bullet points at the end. These were meant to be the reasons why they denied my fraud claim. However, these reasons didn't make sense. I emailed them my response to these points (supporting document My_Reponse_Beaudreau.pdf), but they replied, "We received your request to appeal the decision on this claim. Please provide new information that was not previously provided on the claim. Without new information, this claim will remain closed. Note: SoFi is unable to advise what is needed in order to appeal your claim."I supplied them with information showing that the reasons they used to come to the conclusion they did were inadequate, yet they told me that I needed to give "new information." What kind of information could they need? They keep asking me to provide evidence or information, which is almost impossible in this situation. It is tough to prove that you didn't do something. They won't even tell me what information, specifically, I need to ********* was fraud, which is covered under SoFi's policy, but they will not return my money.
Business Response
Date: 12/16/2024
Please reference the attached letter.
Initial Complaint
Date:12/06/2024
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 had a referral bonus where you refer a person and get $300 a week after the applicant gets approved. If the applicant pays on their loan for 3 months they also get $300. I waited for my bonus and even opened a Sofi account. I was told I would be getting the bonus in chat but then got an email saying I wasn't getting anything. The other applicant got approved in October so I have been waiting for over a month.
Business Response
Date: 12/13/2024
Please reference the attached response.
Customer Answer
Date: 12/13/2024

Complaint: 22644385

I am rejecting this response because they just said they are mailing a letter. I'm not sure that is going to resolve things since there was no mention of the $300 referral bonus.

Sincerely,

******* ******
Business Response
Date: 12/20/2024
Please reference the attached response.
Customer Answer
Date: 12/20/2024

Complaint: 22644385

I am rejecting this response because: the letter comments on the 2nd time the link was selected. I explained that my husband applied with a link but there may have been an issue because he had the credit karma app on his phone. The letter has nothing to do with my original request. My husband didn't want to apply for a 2nd loan. We were just trying to troubleshoot the issue via the chat representative. The timeline is I applied for a loan with Sofi through credit karma. I was interested in a referral bonus so my husband used a link and applied for a $8000 personal loan through sofi. He also had the credit karma app on his phone which linked to Sofi. I never got my referral bonus so we made a ticket with Sofi and we're told to wait. Then we were told we had to open a sofi checking account then wait. We got Sofi debit cards for the checking account and still no referral bonus. Sofi wanted us to verify the link and my husband clicked on it again. That is the information noted in the sofi letter. They need to look at when ***** ****** made an account and got approved for a loan not a 2nd loan application.

Sincerely,

******* ******
Initial Complaint
Date:12/06/2024
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 opened an account about 2 months ago in my name. Shortly after I added my wife as a joint holder. Within 2 days a small transaction for $2.47 went through and we disputed it. The money was refunded. Two more unauthorized transactions happened, and we received notification through a text message. We replied not us and those were blocked. On 11/6 an *** transaction happened for $950 transfer to *****************. Which we have nothing with. We notified SoFi immediately when we received the text message. Unfortunately, SoFi waits for the money be stolen first, then do a dispute. Had they stopped it while in pending would have been best. I called every day to get status, as I kept trying to log into my account and kept seeing a $5.** balance. If wasn't until around 11/17 or so that the representative told me that the original joint account was closed, and a new account was opened in my wife's name only (which was a mistake on SoFi, because it should have been opened in my name. By the time someone had told us that the account was reopened on 11/13 in my wife's name only, the *** transaction happened again on 11/15 to *****************. SoFi's lack of communication is hideous. I filed another dispute. I spoke to one representative that told me that I needed to reopen a new account in my name once again and that the money would be transferred into my new account (which was a lie). My wife now has received an email that seems to be they are refusing to refund the money due to a password that was not secure. This is totally unacceptable. I have never had such a bad experience with any bank. Every time I call, I receive different answer from the representatives. In addition, they outsource to the *********** not sure if they understand when I speak to them.
Business Response
Date: 12/13/2024
Please reference the attached letter.
Customer Answer
Date: 12/16/2024

Complaint: 22650477

I am rejecting this response because:
The response is not entirely correct. The first account, in which I was the primary account holder (****** ********) was closed. I received an email that the account was closed to my email address of *************************. When I was informed by the email, I kept trying to log in and not longer saw my $5.** balance. When I would log in, it was as if I only had a profile and no account. I called every day. Each time I called in I would have to explain from the beginning what happened. I kept explaining that I did not see a new account and that it looked like I only had a profile. I also, instructed them to not open a new account to just send me a check with my balance, that I want nothing to do with SoFi. After calling every day and speaking to many representatives, getting different answer every time, I finally spoke to a lady that said she was saw what happened on 11/20. The account was not reestablished in my name as the primary account holder, but my wife's name ******** ********, using her email. We were NOT informed of that. This was a mistake on SoFi. I should not have been reopened in her name, especially when she was the one with the identity theft issue. When she explained that to me, I, along with my wife logged into the account using her login and seen that the $950 transaction happened once again, the day after SoFi reopened the account on 11/14 in my wife's name on 11/15. However, we were not aware of this because of the lack of communication from SoFi until 11/20. Had we been explained from the beginning that the account was in her name, we would have withdrawn our entire balance before any unauthorized transaction would happen again. I believe the way SoFi handled this entire situation was completely wrong. It should have been handled by one single person who made contact appropriately with updates. Instead, each time I would call I had different answers with everyone. One who put me on hold for several minutes, and telling me to open an account in my name, which I did (a third account), and the money would be put into my account. Which was entirely fabricated. Their response is fabricated. I had made complaints to the ***** Better Business Bureau, *************************** and wrote a letter to the CEO on how poorly they handled this dispute. Totally unacceptable. Attached you will find an email to ****************** from ******** at SoFi indicating that they refunded the money to a new account. The email was NOT sent to my wife. Which is why I kept searching daily for the refund and kept calling. Only until the one rep found it was in a new account under my wife.

Sincerely,

****** ********
Business Response
Date: 12/20/2024
Please reference the attached letter.
Initial Complaint
Date:12/06/2024
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.
My information got stolen and there were several transactions on my account that I disputed. I was supposed to receive a provisional credit on 11/22/2024 & 12/02/2024. Instead they declined my dispute saying there were no unauthorized transactions. This is incorrect and I need my money back asap!
Business Response
Date: 12/13/2024
Please reference the attached letter.
Customer Answer
Date: 12/14/2024

Complaint: 22649077

I am rejecting this response because: Your findings lack merit. My physical card was not on my person however, I used Apple Pay for a lot of my transactions. I usually never take out my card. I also live in ******, and not in ********, and the merchant said that they already sent back the money to the bank and will not be processing another refund and that their decision was final. You guys claim to have sent it back to the merchant which made no sense whatsoever if someone is telling you that it was done unauthorized and merchant agreed to send the money back. There should be no problem. There is another dispute thats on my file that you found to be inaccurate, but you did not supply me with a provisional credit or my refund even though the merchant said they sent it.

this is causing me financial hardship, and if A repossession or a eviction is brought to me due to this matter you will face legal actions.

Sincerely,

**** *******
Business Response
Date: 12/20/2024
Please reference the attached response.
Customer Answer
Date: 12/23/2024

Complaint: 22649077

I am rejecting this response because:
you guys just completed the investigation for seven flats, which is literally the same property as harbors edge. you guys granted me back my refund for seven flats, however declined my refund for harbors edge. If you felt like this was not an error, then why didnt I receive my refund or for harbors edge?

Sincerely,

**** *******
Initial Complaint
Date:12/05/2024
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 account was restricted because a check issued by my mom for a check was bounced back. I had 2 other checks deposited with no further issue. The checks were deposited as a birthday gift from friends/family. For some reason only my moms check was bounced which I didnt ask her why it did. She gave me cash instead when there was an issue. The transaction was returned and no funds were taken and now the check that was successfully deposited is now held by this bank.
Business Response
Date: 12/13/2024
Please reference the attached letter.
Customer Answer
Date: 12/13/2024

Complaint: 22647111

I am rejecting this response because:
It does not satisfy my expectations of any bank.
my other deposits went though besides 1 and the bank decides to close my account entirely.
my funds are now stuck and have to wait without any notice on how long I am supposed to wait to get the money. This response is not satisfactory.

Sincerely,

***** ********
Business Response
Date: 12/19/2024
Please reference the attached letter.
Initial Complaint
Date:12/05/2024
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 attempted to add money to a p***aid card at the ********************, using the funds I had available in my SoFi account. However after taking the funds from my account the transaction was not successful. The cashier received a message that the customer (myself) was due an IMMEDIATE REFUND, she refused because according to her her system wasn't allowing her to credit my account back and instead was telling her to refund me with cash, which she absolutely refused to do! At which her manager arrived and they had to call the office that operates their cashier system 3 different times because even their computer knew they were supposed to be giving me a refund which they did NOT DO, therefore Everytime they attempted to override, cancel, or restart the register it kept giving them an error message customer is due immediate refund. They outright refused to do so, stating that the transaction was only in a pending status and it would automatically be refunded back to my card once it posted, which was definitely incorrect because it was already in the posted status, and the transaction had been completed!! At this point I contacted my bank regarding the situation and I even allowed them to confirm with the dollar general store manager exactly what I had taken place, which she did and she told the bank ***resentative that she absolutely was NOT going to refund me in cash, and since her system wasn't allowing her to put it back on my card I would need to wait for the transaction to post, which the ***resentative explained it had already posted, she still refused my refund. At which point the bank *** assisted me in filing a dispute with all of the information included along with a receipt from the dollar general store showing I was due an immediate refund, it's now been over 30 days, and SoFi has all the information they need to resolve this issue but they still have not done so, and I am ***etitively told there's no way to contact the department in charge of this.
Business Response
Date: 12/13/2024
Please reference the attached letter.
Customer Answer
Date: 12/17/2024

Complaint: 22646921

I am rejecting this response because:
The response is inaccurate and dishonest. I was given various information regarding the complaint process, and the time frame. Every representative gave me a different answer. Nevertheless if this issue had been correctly and promptly addressed, it would have already been resolved. They had the authority to immediately issue a chargeback credit, yet for whatever reason they have chosen not to do so. I did my part, I gave honest, detailed, correct information regarding the situation, and exactly what has taken place. I thought by doing so it would have produced prompt and correct action, especially from a business that I has chosen to trust with my money. However, SoFi has proven that I was extremely incorrect, and they have ensured that I deeply regret ever making that choice.
Sincerely,

**** *****
Business Response
Date: 12/20/2024
Please reference the attached letter.
Customer Answer
Date: 12/24/2024

Complaint: 22646921

I am rejecting this response because:
It's an unacceptable response every other financial institution in ** offers a provisional credit, if they are unable to resolve the dispute within 10 business days, in fact it is actually a law. Furthermore, I filed an additional dispute for fraudulent transactions that was immediately denied, although I provided a police report number! I appealed this decision and it took was immediately denied! I would like a copy of the information you use to deny my dispute. After submitting my appeal, I receive my requested copy of the police report that I filed for identity theft, but since you immediately rejected both my initial dispute and my appeal. I haven't submitted this to you yet, simply because I'm unsure that it will ever even be looked at or considered!!

Sincerely,

**** *****
Initial Complaint
Date:12/05/2024
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.
Yes my four year old daughter grabbed my phone I left it on my sofi account and she accidentally sent 116 dollars to a **** ******** now they won't give me my money back and I need that for my daughters medicine now she hasn't had it in 6 days were going to be in hospital...... **** even called his self told them to give it back because he can't get into his account to send it back so he asked them to several times please help !!!
Business Response
Date: 12/13/2024
Please reference the attached letter.
Customer Answer
Date: 12/14/2024

Complaint: 22646630
All
I am rejecting this response because:
First of all I never allowed **** ******** access to. My account he allowed me access to his account but the money was already taken off by then so I never got my money back and like I said it was an accident my four year old pressed the button to send it to **** ******** and it was obviously easy cause there is only 1 person under pay my friends so that's how my daughter was able to send it so easy .. what is taking so long on getting my money back they just kept on reassuring me that I'd have my money sent back to me in three days we'll three days past and I still didn't have my money back I don't know why but I don't have it back still til this day and I don't understand why when it says you guys will insure my money back to me if I didn't do which my daughter accidentally sending it should be covered to cause it wasn't me who sent it so please help me get my money back please and I'm looking forward to hearing back from you thank .you so very much .... HAVE A GREAT DAY!!!!!
Sincerely,
Ok h
******** ****
Business Response
Date: 12/19/2024
Please reference the attached letter.

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