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.

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

2,312 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:12/05/2024
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.
Ok this bank has been restricting and un restricting my account and wont even tell me why and this time they restricted my bank account as soon as my direct deposit came into my account and wont even let me spend my money and is telling me my account is pending closure but wont tell me when my account will close or why it is restricted they are trying to steal my money
Business Response
Date: 12/13/2024
Please see the attached document
Initial Complaint
Date:12/04/2024
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 checking/savings account has been restricted since Sunday, Dec. 1st.This is the history of my calls:Sunday PM: As soon as I got the notification of my account restriction, I called customer service. The representative initially said the reason was a $13 transfer I initiated. I explained that I was not familiar with that transaction but had initiated a transfer of $13,000 to my Chase ******** not $13. The representative insisted it was $13. I asked him to count the zeros, but he still insisted it was $13. I agreed that I was not familiar with that amount, so he logged that I had a transaction I was not familiar with.Monday Morning: I called again for an update. The representative said my account would be closed due to the unfamiliar transaction. When I clarified which transaction, this time the representative said $13,000. I recounted my previous conversation, and he then said there was no need to close and reopen my account. However, my account remained restricted.Monday Afternoon: I called again for a status update. They logged it and stated that it was still under review.Monday Night: I called again, and this time the representative explained that I was in violation of terms and agreements. Apparently, I have had a SoFi account for 8 months, and my fianc's direct deposit is not acceptable since this is not a joint account. I asked how to fix it, and the representative said someone would call me back.Tuesday Afternoon: With no update, I called again. I mentioned that I had a direct deposit coming in on Wednesday, so the representative removed the deposit restriction so the funds could go in. However, the account restriction remained, and no one had called me yet.Wednesday Morning: I called again and still received no update.I have a mortgage to pay and funds in my ******** but ********************** is not letting me access them.
Business Response
Date: 12/13/2024
Please reference the attached letter.
Initial Complaint
Date:12/04/2024
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.
On December 3, 2024, Sofi restricted my checking account and will not grant me access to the over $1k funds in my account. When I spoke to their security team, they told me it was under investigation for a violation of the account terms, yet refuse to tell me which section of the terms Ive violated. Furthermore, they have no estimated timeframe for when Ill have access to my funds. Theyve essentially taken my money with no possible resolution or explanation. I would highly suggest against banking with Sofi.
Business Response
Date: 12/11/2024
Please reference the attached letter.
Initial Complaint
Date:12/04/2024
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.
I tried logging in to my online account this morning and it's saying that wrong password. I reset my password and I'm still not able to log in. I called Sofi many times they keep disconnecting and not able to help me. I need access to my account. ********************** needs to fix the issue asap.
Business Response
Date: 12/13/2024
Please reference the attached letter.
Initial Complaint
Date:12/04/2024
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.
Unable to reach anyone in the USA our jobs are being sent to foreign countries where the SOFI rep is willfully refusing to get a supervisor. My SSN is *********. Dob **********. My phone number is ************. The phone number sofi has on file which is disconnected is ************. The email they have on file is **********************. the correct email address is ********************. UNABLE TO GET ANYONE WHO UNDERSTANDS English and can change my email address and cell phone number.
Business Response
Date: 12/13/2024
Please reference the attached letter.
Customer Answer
Date: 12/16/2024

Complaint: ********

I am rejecting this response because: I respectfully dispute the contents of their response left them two vms with no response to resolve my issue. They called me prior to responding to the BBB COMPLAINT we were did connected not because of profanity but I live in an area with bad cell reception. Next complaint is to the ** ***** **** **** then the ****. UNABLE to get my email.and phone number changed request a response to my complaint and resolution. Phone number and email still have not been charged.

Sincerely,

Apex L**
Business Response
Date: 12/19/2024
Please reference the attached letter.
Customer Answer
Date: 12/27/2024

Complaint: ********

I am rejecting this response because: noone is returning my call or answering the phone my phone number is ************. PLEASE HAVE an AVP CALL ME I am being ignored.

Sincerely,

Apex L**
Business Response
Date: 01/09/2025
Please reference the attached letter.
Customer Answer
Date: 01/09/2025

Complaint: ********

I am rejecting this response because: UNDER THE ADA they are required to call be and provide additional accomdation

Sincerely,

Apex L**
Initial Complaint
Date:12/04/2024
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.
Over the past week and a half, I have been experiencing an account takeover. However, I am hesitant to submit a dispute for these charges due to the financial institutions previous threats to terminate my bank account access due to fraudulent charges. The current situation is dire, as over five thousand dollars has been stolen from me. Notably, this bank disregards **** regulations. Instead of investigating my dispute, they prioritize closing my account and displaying a lack of ****************** an editorial contributor for a prominent financial blog website, I had previously recommended this bank to individuals seeking high-yield savings accounts. However, based on my experiences, I no longer consider it a viable option. Their lack of integrity is evident in their handling of this matter.The incident began on November 26, 2024, when my phone was lost. Fortunately, it was recovered, and an individual gained unauthorized access to my sensitive personal information, including my card number, phone number, Face ID, and ********************** Security number. This unauthorized access enabled them to unlock my phone and access applications on my ********* rectify this situation and resolve the case without jeopardizing my bank account, I request ********************** to take appropriate action. I am seeking compensation for the stolen funds and guarantee the safety of my account & allow me to continue my banking relationship with SoFi
Customer Answer
Date: 12/13/2024
I am writing to express my extreme frustration with SoFis handling of a dispute regarding fraudulent charges on my account. On December 6, 2024, at 5 PM, I contacted SoFis ****** Advocacy team to report unauthorized charges exceeding $5,000. Despite the timing, I expected prompt attention and a thorough investigation once business resumed. However, by Monday, December 9, 2024, at 12 PM Eastern, I was shocked to discover that my dispute had been denied with no investigation. The claim was dismissed within two business days, which seemed completely inappropriate given the seriousness of the fraud. To make matters worse, I received lackluster communication or support from SoFis ****** Advocacy Specialist, ******* *. I sent multiple follow-up emails, but none were addressed. This lack of response was frustrating and left me feeling neglected, especially as the charges involved a significant financial loss. I have been a loyal customer and have never had any issues with SoFi before, but in this instance, they failed to live up to even the most basic expectations of customer service. I experienced an ATO & when I compare it to the approach that another bank had for this same issue of account takeover involving a lost phone, that banks ****** Advocacy team was quick, thorough, and refunded the fraudulent charges within four business days. SoFi, on the other hand, has failed to take any action or show any urgency. As a result of SoFis failure to properly investigate and resolve my case, I have filed a formal complaint with the Office of the Comptroller of the Currency (OCC). NOW, I am in the process of appealing the decision, but I strongly believe that SoFis initial denial was a tactic to avoid reimbursing me for the stolen funds. Given my experience, I strongly urge others to reconsider using SoFi. Their lack of professionalism, care, and urgency in handling such serious matters is unacceptable. SoFi is the #1 WORST banking institution in *******! STAY AWAY!!!

Refund; I would like someone with an authoritative position of our to email me so that we may rectify this situation. My case was handled in properly, unprofessionally, and with the utmost disregard this matter needs to be addressed and rectified in my favor because I submitted all proof and correspondence to the dispute team that of which was all overlooked because the dispute was denied within a few hours of the first business day. I am willing to take this matter and assess it with legal action to the furthest of my capability if necessary due to the amount of money that I lost, but I am hoping so I can make this right so please an authoritative figure reach me via email so that we may discuss or set up a time to call and get this matter addressed thank you. ; Contact by the business
Business Response
Date: 12/13/2024
Please reference the attached letter.
Customer Answer
Date: 12/13/2024

Complaint: 22639097

I am rejecting this response because:
I experienced account takeover, I have possession of my card but my details were saved into the phone, the person could have very well have cloned my card. They had access to everything that includes my login, i never logged in during the time it was lost because you need a text code that i obviously could not receive due to the lost device. I only could speak from the knowledge that I am aware of, nothing more. This is wrong, this was mishandled and I will not accept this.

Sincerely,

**** ******
Business Response
Date: 12/19/2024
Please reference the attached letter.
Initial Complaint
Date:12/04/2024
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 social security. Check got deposited into their bag on the third and they are not releasing it yet. They say they don't have it, but yet the u. ************ says they give it to them on the third. They do this with all things. A good positive in their check and want to get there. They hold it for 3 or 4 days. Interest for you. What is wrong
Business Response
Date: 12/13/2024
Please reference the attached letter.
Initial Complaint
Date:12/04/2024
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.
On November 22, 2024 I noticed fraudulent charges on my account with ********************** bank I called & reported it immediately & was told to wait till they were posted. So November ******* I was able to file dispute explaining & telling them exactly the issue with the fraudulent ****************** ******* a day after dispute filed it was denied! I appealed and day after the ***** denied again so I need my funds back **** for the fraudulent charges on my Sofi bank account
Business Response
Date: 12/13/2024
Please reference the attached letter.
Customer Answer
Date: 12/13/2024

Complaint: 22636960

I am rejecting this response because it was fraudulent charges that I did not authorize & wish for all my funds to be returned back to me

Sincerely,

****** *******
Business Response
Date: 12/19/2024
Please reference attachment.
Initial Complaint
Date:12/03/2024
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 dispute is about Account Restricted around the 19th of August *********** ID: *********** By ******** ******** which is a friend the transaction was sent to help me pay my bills the amount was $700 which I was able to withdraw $400 of it which leaves $301.11 all that I am asking for is to have my account unrestricted so I can get the remaining balance or to have the money sent back to the sender
Business Response
Date: 12/09/2024
Please reference the attached letter.
Initial Complaint
Date:12/03/2024
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 bank account with ********************** Bank was hacked 23 October 2024, SoFi stated that the fraudster was so relentless that they (SoFi) closed my account 31 October 2024. From 23 October - 31 October SoFi locked me out of the account and when I was able to once again log into my account I could only see my investment accounts and the checking and savings account nothing was accessible no longer visible. I've been on the phone with several SoFi customer service representatives since 23 October 2024. I was told I would receive my $36,310.31 with 7-10 business days, later told ***** days when I didn't receive my funds, then later told 30 days but has yet to receive my funds as of today, 3 Dec 2024. Today I spoke SoFi and also via email and they said to me that the two checks $6310.31 and another, 30k has been cashed and they will not reissue the checks. I have not received any checks nor will they provide any additional info other than the $6310 check was cash with G.M. ********* printed on back of the check. I've asked for proof but SoFi has giving me nothing. I don't understand why they are mailing the check in the first place when I had an external account connected/linked to this SoFi account. Christi: ************ Banking: ************. **** in account management and emailing ******* in the research department. I feel in my gut that I'm just one of a long list of SoFi customers that this has happened to. Please help
Business Response
Date: 12/13/2024
Please reference the attached letter.

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SoFi is NOT a BBB Accredited Business.