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
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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

2,320 total complaints in the last 3 years.
772 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:01/25/2024
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.
Im living in ***** and my parents sent me money for living expenses and Sofi froze my account and are refusing to unfreeze the accountI have explained to them numerous times that I need the money to live on
Business Response
Date: 02/02/2024
Please reference the attached document.
Customer Answer
Date: 02/02/2024

Complaint: 21200074

I am rejecting this response because:
We both got on the phone and explained what had happenedAfter the SoFi agent asked us tooThis did nothing..When I asked to speak to a supervisor I was told you cant and they hung up on me
Sincerely,

***************************
Business Response
Date: 02/08/2024
Please reference the attached document.
Customer Answer
Date: 02/08/2024

Complaint: 21200074

I am rejecting this response because:

Sincerely,

***************************
Initial Complaint
Date:01/25/2024
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 DEPOSIT ***** FOR 2 TRANSACTION ON 1 NOV 2023 1 FOR ***** AND 1 FOR ***** THE ***** JUST DISAPEARED FROM MY SOFI CHECKING ACCOUNT BEEN CALLING EVERY OTHER DAY AND SENT EMAILS THEY SAY MY DISPUTE WAS DENIED I WISH I WOULD HAVE NEVER SIGNED UP WITH THIS BANK THIS IS ONE OF THE WORSE BANK I HAVE EVER BANK WITH ALL MY YEARS WITH MY MILITARY TRAVELS NEVER ENCOUNTER SUCH UNPROFESSIONAL SERVICE I HAVE EVER COME ACROSS I WILL MAKE SURE THAT MY PEERS DON'T DO BANKING AT THIS BANK THEY WILL STEAL YOUR MONEY NOT SAFE I WILL EMAIL BLAST OUT THEY WILL STEAL YOUR MONEY
Business Response
Date: 02/02/2024
Please reference the attached document.
Initial Complaint
Date:01/25/2024
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.
Sofi is showing forms of retaliation since I last reported this company for not properly assessing my disputes. Since then they have let several companies take money out of my account along with denying my disputes instantly. I feel discriminated against by this company once again and Im just here demanding that they properly dispute the unknown charges on my account
Business Response
Date: 02/04/2024
Please reference the attached letter.
Initial Complaint
Date:01/25/2024
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.
So I started an application with SoFi being pre approved for a loan. After the company pull a hard inquiry the continue to ask for outrageous information for a small 6k loan. I have provided this company with w2, current, and previous years pay stubs. I have good credit and recently paid off a 16k loan with this company 5 years early. I now believe this company is just collecting private information to sell to other companies. I would like the company to apologize for wasting my time and remove the hard inquiry from my credit report.
Business Response
Date: 02/04/2024
Please reference the attached letter.
Initial Complaint
Date:01/24/2024
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 currently bank with SoFi, and my account has been frozen since 1/17/2023, and I have been calling customer service and their fraud department every single day. They will not tell me why my account is frozen, the time frame it will take to unfreeze it, won't connect me to the department in charge of investigations, and keep lying to me saying that they will bump up my case for "prioritization." At this point, I am overdue on bills and I'm not able to pay anything which means I am at risk of eviction. SoFi is not helping me resolve this at all, I have even asked to close my account with them, and they said I can't do that until my case gets resolved which could possibly take months. All I want from this complaint is that my money gets returned to me in one way, shape, or form. I do not even wish to bank with this company anymore.
Business Response
Date: 02/02/2024
Please reference the attached letter
Initial Complaint
Date:01/24/2024
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 applied for a loan. I received minimal communication about the status of a loan, and the processing time was lengthy. I was denied. I was told that I have a high DTI. I was not provided with the numbers they used to make this calculation. Furthermore, I requested a lesser loan in the event of issues with approval; however, this was not done. I called today (1/24) and I was informed I could reapply without pulling my credit. After I begin the application over the phone, the representative states she will now need to pull my credit. This was not what I was informed. I declined and withdrew the application. If my credit was pulled on 1/24, please reverse that because I did not consent to this. The company does not provide clear guidelines or instructions and does not communicate effectively with clients.
Business Response
Date: 02/01/2024
Please reference the attached letter.
Initial Complaint
Date:01/24/2024
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 received an email from Sofi in Dec 2023 asking me to verify and update my information. I do have an account with them, so I clicked on the link in the email. I didn't fill out any of the information within the link, I was driving at the time, but some how, hackers got a hold of my account and my money. They transferred out $777 to a "friend" and used my outside linked bank account to transfer in another $1000 to send to another "friend". I have never used my sofi account in that manner. I have only transferred money into and out of the account via bank transfers that were set up and verified by **** filed this complaint with Sofi same day that it happened. They said that they would freeze my account, order me a new card and investigate.The investigation took weeks only to hear back that their was no way of getting my money back as they didn't see any fraud activity on my account.I then turned around and sent them the email that was sent to me for proof of account tampering by someone other than myself and/or sofi. Though I was doing myself justice, but nope.I received word today, 1/24/24 that my account has been shut down/closed as of NOW and the balance of $0.66 cents will be forwarded to me via check.********, absolute ******** When I called customer service, they hung up on twice, telling me that they are not able to give any more information. Not even speak to a manager. Not even look into the reasons for the cancellation of the account.Never have I ever in my life been accused of doing something so wrong. And for Sofi to just down play the fraud and turn it back around on me and state it was my fault? Don't ever open an account with them and have fraud activity reported on your account because all they are going to do is take your money anyway and turn it back on you to say it's your fault! I hate this bank, absolutely hate it!!!
Business Response
Date: 02/01/2024
Please reference the attached letter.
Customer Answer
Date: 02/01/2024

Complaint: 21192003

I am rejecting this response because it is inaccurate. I have never in my account used peer to peer or authorized peer to peer transactions. The only transaction that I made to and from the account were actual bank to bank transfers and payments. Never peer to peer. The person (s) that gained access to my account and transferred out $777 peer to peer was added same day as the illegal access was obtained from such person. Im asking that you look again in whole, from time I opened the account to the time the account was closed by **********************. I am confident that they will not find peer to peer prior to the illegal and fraudulent access to the checking account.

Sincerely,

*************************
Business Response
Date: 02/07/2024
Please see the attached document.

Customer Answer
Date: 02/08/2024

Complaint: 21192003

I am rejecting this response because it is simply inaccurate. I never authorized money from my account and ********************** does not want to admit their fault and give me my money back.

Sincerely,

*************************
Business Response
Date: 02/09/2024
We have responded to this complaint previously, and no new information has been provided by the consumer.
Customer Answer
Date: 02/09/2024

Complaint: 21192003

I am rejecting this response because SoFi bank will not accept responsibility and do an accurate and thorough case investigation of my account. They simply closed the account because they do not want to give me back my hard earned money.

Sincerely,

*************************
Initial Complaint
Date:01/24/2024
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.
check for $15300.00 Message **** avail on 1:22 **** avail on 1:25 Balance on **** As promised my balance avail on the 22nd was **** and immediately set appointment for $1,000 to go to ***** and ******************* who have been gracious enough to pay for a hotel for me as I waited for funds to be available..(see proof of ************* stays, cash app payments daily to me for the amount of reservations-totalling ******. I wanted to send a bit extra to say thank you. I set pymnt up and it was declined. It didn't State a specific reason I attempted again later on. I looked for any contact from sofi fraud ***** There was no contact made until Way after and I enquired about the transaction declined. I asked to clear it so I could follow through.It was all in the middle of the storm and so my phone keep getting cut off going from Wi-Fi. I finally got the fraud department in they wanted to ask me questions which I answered and then I just came back on and said okay well it's a t or internal review and that's that. I asked what that meant. What isyears overdue. This is a ca covid rent relief check On Christmas Eve I lost my temp home an RV and was burglarized for all my belongings before I could obtain a storage for them. I explained to fraud that I am penniless without that money. The person in charge of the entire rent relief program personally expedited and sent that check express mail to me. (See email chain)I have sent everything to validate the existing relationship to the maker the purpose of payment, the clear intent for them to pay me, the urgency, the clear and well documented debt owed for which the payment was intended.. And actually I have a longstanding account with **********************. This is not ok. Please also see proof just several of the numerous complaints and shared sentiment regarding the nature of h*** sofis fraud department various types of situations the same way so this i.i swear the above to be true under the penalty of perjury. *******************
Business Response
Date: 02/01/2024
Please reference the attached document.
Initial Complaint
Date:01/23/2024
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 am writing to file a formal complaint against SoFi, as I have encountered severe issues with my account, and the lack of response and assistance from the company is causing significant financial hardship for me and my family.Last week, I opened an account with ********************** and had funds wired from my homesale to my new account on Friday. Subsequently, I began making payments on bills that were overdue. However, when attempting to pay for my storage unit, my payment was declined, leading me to discover that my SoFi account had been inexplicably frozen.Upon contacting SoFi's customer service, I was informed that my account had been frozen, but no specific information was provided. The representative was unable to give any details on the duration of the freeze or the reason behind it. Furthermore, when I requested to speak with a manager or supervisor for escalation, I was told there was no higher authority available.I have been diligently following up on this matter every day, seeking assistance and clarity, but SoFi has not provided any meaningful response or resolution. This situation is causing significant distress as I have essential expenses, including feeding my children, that I am unable to address due to the restricted access to my own funds.After researching similar complaints on the BBB platform, it appears that this issue is not isolated to my case, indicating a broader concern with SoFi's customer service and account management practices.I am not seeking a generic response or the suggestion to leave a message for SoFi's Member Security Team, which has proven ineffective. Instead, I urgently request your intervention to facilitate the release of my account and provide an explanation for the freeze.I appreciate your prompt attention to this matter and look forward to a resolution that enables me to access my funds without further delay.
Business Response
Date: 02/01/2024
Please reference the attached letter.
Initial Complaint
Date:01/23/2024
Type:Service or Repair 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've been trying to withdraw my *** funds (4XF34547) since 1-2-24 and keep running into issues onthe SoFi side. I chatted with ***** on 1-2-24 and was told he would resolve it, this didn't happen. I chatted with ***** on 1-8-24, he//she said they would take care of it, they didn't. I chatted with ********* on 1-17-24 and she said she couldn't do anything about it. She told me to call the support number *************). I did and talked to *****. I had to verify my ID and then was told that it would now be resolved. It's now 1-22-24 and I still can't get access to my funds. SoFi seems indifferent about this and hope this complaint will wake them up.
Business Response
Date: 02/01/2024
Please reference the attached document.
Customer Answer
Date: 02/01/2024
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.

Sincerely,

*************************

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SoFi is NOT a BBB Accredited Business.