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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 ComplaintThe 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:05/04/2025
Type:Product IssuesStatus: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 set up at direct deposit with SoFi in February to receive a higher APY for the savings account and never received it. When I talked to a live agent they said they wont reimbursed for the money lost that i shouldve received. They admitted they didnt recognize the deposits as being direct; however noted that they would be recognized moving forward, but would not uphold their terms of agreement in paying the higher yield for the prior payments.Business Response
Date: 05/14/2025
Please reference the attached letter.Initial Complaint
Date:05/03/2025
Type:Service or Repair IssuesStatus: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 started working at a new job and went through the steps to mobile deposit my check and wrote SoFi ****************** deposit on it only to see when I typed in the amount that it has a limit per week/month? Now I have a defaced check I cant cash at another bank and SoFi has no idea when they can raise my limit. I need this resolved as soon as possible if there is any way.Business Response
Date: 05/12/2025
Please reference the attached letter.Initial Complaint
Date:05/02/2025
Type:Product IssuesStatus: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 traveled out the country, and my card was used without my knowledge. I reported the issue to my bank SOFI and they declined the claim although the card was in my possession and I did not use it.Business Response
Date: 05/09/2025
Please reference attached letterInitial Complaint
Date:05/01/2025
Type:Service or Repair IssuesStatus: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 paid $2 using my SoFi card, and that information was used to scam the same account for $2,000 shortly after. While they spammed my phone with texts and multiple calls that I did not reply to in order to get into three of my other accounts that were not registered under Sofi. After becoming successful, the only account that was compromised was my SoFi account. I went through the process of waiting for the pending charges filed under unapproved Cash App and Apple Pay transactions from said Sofi account. Only for my dispute to be denied. I appealed that decision with more of the evidence attached in this complaint, and my appeal was denied again.Business Response
Date: 05/09/2025
Please reference the attached letter.Initial Complaint
Date:05/01/2025
Type:Service or Repair IssuesStatus: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 Monday 4/28/2025. Sofi decided to close my account without any explanation. I called multiple times to speak with a manager or supervisor and was told no. I asked why I wasnt able to speak to someone who maybe can give me details on whats going on and they just kept saying no. My account has been in good standard since I opened it and I dont understand why they closed it. A few months ago they tried closing my account but the representative I spoke with then just asked about me spending more around that time and I explained to him it was the holidays. Now they are closing my account for mo reason and without explanation. The representative were very nasty and didnt seem to know the answers to anything I asked them. I even tried talking to someone in a different department and same results.Business Response
Date: 05/09/2025
Please reference the attached response.Initial Complaint
Date:05/01/2025
Type:Service or Repair IssuesStatus: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 bill payment sent up with T-Mobile and my SoFi bank. Each month they deduct payment. On my bank I have the option of sending payments . Intermittently I send payments to T-Mobile however my monthly bill remained the same. I logged into T-Mobile and saw none of my payments were credited to my account.. I contacted T-Mobile and my bank SoFi about this. It was very difficult to get in touch with a customer support person as they kept me on hold with loud annoying music or hung up after keeping me on hold for hours. I finally spoke with someone named Jovi at T-Mobile and there was a conference call with him and SoFi. All my random payments over the span of a year were not credited but they were deducted from my account. ********************** said I could file a complaint which I did. They then said T-Mobile would have to however they refuse to. I tried contacting SoFi regarding this however they were rude and dismissive. They kept me in hold and hung up multiple times. They refused to help with this matterBusiness Response
Date: 05/09/2025
Please reference the attached letter.Initial Complaint
Date:05/01/2025
Type:Sales and Advertising IssuesStatus: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 advertises a $75 referral bonus for those that refer another person to open a investment account with them.Yet my grandfather, ******* ****** Sr. ***** ********************* signed up and invested with them months ago and due to me referring him. However sofi never sent me such a bonus. Sofi has my and his account information and can easily see our mailing address is the same...I'd like for them to honor the deal/bonus they offered but if not my grandfather and I can close our accounts and go elsewhere. Thank youBusiness Response
Date: 05/09/2025
Please see the attached letter.Initial Complaint
Date:04/30/2025
Type:Product IssuesStatus: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.
Narrative (What Happened):On the morning of April 30, I saw my $1,300.21 wire still marked Pending in my SoFi Savings account and immediately called SoFi to have it recalled. Despite the clear pending status, the SoFi agent:1.Refused to initiate any recall, stating once approved, we cannot cancel, even though my account still showed ********************** themselves by telling me to work directly with the receiving bank, effectively abdicating SoFis duty to pursue the recall.3.Denied every request to speak with a supervisor or more knowledgeable associateleaving me on hold indefinitely.4.Offered no apology, displayed zero empathy, and left me to scramble for alternate funds under ********* 7:05 AM PDT, I received SoFis emailed confirmation that the wire had been fully processed and sentproof there was a recall window that SoFi wilfully ignored. This unprofessional, flat-out unhelpful service wasted my time, jeopardized my finances, and undermined my confidence in SoFis customer-service practices.Resolution ************* investigation into this call and SoFis wire-recall protocol failures.2.Written policy clarification: exactly when a Pending wire becomes irrevocable, and who on SoFis team is responsible for recalls.3.Confirmation of any further recovery options, or a clear statement that recall is now impossible, with reasons.4.Formal apology from SoFi for their refusal to act.5.Goodwill compensation for fees, time lost, and emotional distress due to this mishandling.I expect BBBs assistance in prompting SoFi to address these demands promptly. Thank you for your help. Date of Transaction: April 2930, 2025 Type of Transaction: Wire transfer recall request Amount Involved: $1,300.21 + $3.00 fee SoFi Account Ending: 3347 *************************** Ending: 7597 (***********) Federal Ref. Number (FYI): 20250430QMGFT011000113Business Response
Date: 05/09/2025
Please see the attached document.Customer Answer
Date: 05/09/2025
May 9, 2025
Better Business Bureau
Complaint ID: ********Dear Better Business Bureau,
Thank you for forwarding SoFi Banks response to my complaint. I appreciate the opportunity to respond.I am rejecting this response because:
While I acknowledge SoFis admission that their representative failed to offer the wire recall option at the time I called on April 30, 2025, I am not satisfied with the resolution offered. My position is as follows:
1. Failure to Inform at Critical Juncture: When I contacted SoFi immediately upon realizing the issue with the $1,300.21 wire transfer to **************************, I was told it could not be canceled. The representative failed to mention a recall request was even an option. This omission was crucial.
2. Lost Opportunity: A timely recall might have improved the odds of retrieving the funds. The delay, caused by SoFis failure to inform me properly, gave the recipient the opportunity to deny the recall.
3. Inadequate Remedy: Reimbursing the $30 fee through rewards points is appreciated but does not reflect the gravity of the mistake or the financial loss Ive suffered. This was not a user error but a failure of standard protocol by SoFi staff.
Therefore, I request that SoFi issue a full reimbursement of the lost funds or provide a substantially more appropriate remedy for the damages caused by this failure to advise.
Sincerely,
****** *****Business Response
Date: 05/16/2025
Please see the attached document.Initial Complaint
Date:04/30/2025
Type:Product IssuesStatus: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 a victim of identity theft. This company refuses to refund me the money that was stolen out of my accountBusiness Response
Date: 05/09/2025
Please reference the attached letter.Initial Complaint
Date:04/29/2025
Type:Product IssuesStatus: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.
They only gave me my 1% match for my recurring deposit once---for my deposit of $1300! I completed a recurring deposit freaking 9 times! Check the highlighted transactions! They owe me my cashback those other deposits to my invest account! If they don't give it, then I will take escalatory action. I'm sick of these big banks s******* over consumers because they think they are above the law! And my debit card was supposed to come 4/25/25!Business Response
Date: 05/08/2025
Please see attached document.Customer Answer
Date: 05/09/2025
Better Business Bureau:
I have reviewed the response made by the business in reference tocomplaint ID ********, and find that this resolution is satisfactory to me.
Sincerely,
********* *******
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