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

2,324 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:12/27/2023
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.
11/29/23 Deposit of $4,923.00 by *********************** $5.21 11/30/23 Deposit of $6,000 by ***** 12/1/23 Unauthorized transactions to *********************** -$299.99 -$189.88 -$169.00 -$99.00 -$59.00 -$139.00 -$311..00 -$199.00 -$219.00 -$79.00 -$144.00 -$244.00 -$112.00 -$66.00 -$89.00 -$269.00 -$29.00 -$298.00 -$177.00 -$288.00 -$174.00 -$179.00 -$149.00 -$19.00 -$39.00 -$123.00 -$41.00 -$259.00 -$259.00 -$41.00 -$98.00 -$159.00 -$10.00 +$6000.00 Deposit by ***** 12/2/23 Unauthorized transactions by *********************** of -$299.00 -$284.00 -$189.00 -$299.00 -$299.00 -$277.00 -$297.00 -$188.00 -$279.00 -$289.71 -$299.80 -$299.88 -$288.00 -$199.00 -$144.00 -$181.41 -$266.00 -$88.00 -$349.00 -$47.00 -$288.44 -$249.00 -$211.00 -$89.00 -$298.77 12/3/23 Unauthorized transactions by ***************** of -$109.00 ***************************-$10.00 *************************** -$159.00 ***************************-$179.00 *************************** -$229.00 *************************** -$219.00 ***************** -$199.00 -*************************** $209.00 ***************************-$129.00 ***************** -$10.00 ***************************-$249.00 *****************-$179.00*************************** -$269.00 *****************-$129.00 ***************************-$69.00 ************************* ****-$119.00 *****************-$139.00 *****************-$159.00 ***************** -$79.00 ***************** -$89.00 ***************** -$49.00 ***************** -$149.00 ***************** -$189.00 *************************** -$49.00 *************************** -$139.00 *************************** -$139.00 *************************** -$79.00 *************************** -$109.00 *************************** -$149.00 ***************** -$99.00 ***************** -$29.00 ***************** -$69.00
Business Response
Date: 01/02/2024
Please reference the attached document.
Customer Answer
Date: 01/03/2024

Complaint: 21063078

I am rejecting this response because: I clearly answered the response of my text message as soon as the notification came to my phone and told me as if I authorized the transaction or not please hit stop or no and which I did and even in my email told me that my account was changed erased and even my phone number was different and yet they still allowed them to take the money out of my account after I reportedly twice denied the transactions and I emailed and called them multiple times and sent them screenshots of the transactions not being authorized and that my account was hacked into my cash app and the money was being taken out the person lived in ******* or in ********** I sent screenshots of the phone that they used to log into my account which I do not own a iPhone I own a Android and yet they still don't want to cover the expenses that was taken out of my account over there mess up when you stated that authorized these transactions I said no you should have stopped it right there and that no more carry out. I sent you pictures of the screenshots and transactions multiple times and got no response and there's no reason not to believe that there was an error occurred during these transactions notifying that it was not me doing the authorization because I said no don't do it..

Sincerely,

*************************
Business Response
Date: 01/05/2024
Please reference the attached document.
Customer Answer
Date: 01/07/2024

Complaint: 21063078

I am rejecting this response because: I have sent you multiple screenshots of emails and text messages stating i did not authorize these transactions. And your company still allowed that money to leave my account. And that's alot of money to just have taken from me. So if a lawyer is what I'm gonna need to *** the company and to recieve my money back to me then just tell me now cause I've tried to go about this the easy way and i figured with my proof you would of just insured my money but i guess not

Sincerely,

*************************
Business Response
Date: 01/08/2024
Please see the attached document.
Initial Complaint
Date:12/27/2023
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.
********************************* N.A./TBOM Anount:$53796 Date Opened:5/5/2021 Acct#**************** Name: SOFI BANKAnount:$38778 Date Opened:6/17/2022 Acct#******** Please DELETE the fraud Accounts from my credit Report does not relate to any transactions that I have made.The credit bureaus keep disrespecting the law . I have showed them multiple times how they are violating the FAIR CREDIT REPORTING ACT .According to 15 USC 168i(15) the credit bureaus have to modify or Delete fraud Accounts that are not reporting accurately. According to 15 USC ****b(1) the credit bureaus dont have no written permission According to 15 USC **** have the right to privacy According to 15 USC 168s-2 A person shall not furnish any information relating to a consumer to any consumer reporting agency if the person knows or has reasonable cause to believe that the information is inaccurate .(B) Reporting information after notice and confirmation of errors According to 15 USC **** I have the right to privacy According to 15 USC ****s-2 A person shall not furnish any information relating to a consumer to any any consumer reporting agency if the person knows or has reasonable cause to believe that the information is inaccurate.(B) Reporting Information after notice and confirmation of errors A person shall not furnish information relating to a consumer to any consumer reporting agency (i) The person has been notified by the consumer, at the address specified by the person for such Notices, that specifies information inaccurate, and (ii) the information is, in, fact, inaccurate. The credit bureaus have no respect for the laws.Someone needs to hold them accountable for this.
Business Response
Date: 12/31/2023
Please reference the attached letter
Initial Complaint
Date:12/27/2023
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.
Name: SOFI CREDIT CORP LLC Amount: $9790 Date Opened:3/26/2021 Acct#****************Name: SOFI CREDIT CORP LLC Date Opened:3/26/2021 Acct#****************Please DELETE the fraud Account from my credit Report does not relate to any transactions that I have made.The credit bureaus keep disrespecting the law . I have showed them multiple times how they are violating the FAIR CREDIT REPORTING ACT .According to 15 USC 168i(15) the credit bureaus have to modify or Delete fraud Account that are not reporting accurately. According to 15 USC ****b(1) the credit bureaus dont have no written permission According to 15 USC **** have the right to privacy According to 15 USC 168s-2 A person shall not furnish any information relating to a consumer to any consumer reporting agency if the person knows or has reasonable cause to believe that the information is inaccurate .(B) Reporting information after notice and confirmation of errors According to 15 USC **** I have the right to privacy According to 15 USC ****s-2 A person shall not furnish any information relating to a consumer to any any consumer reporting agency if the person knows or has reasonable cause to believe that the information is inaccurate.(B) Reporting Information after notice and confirmation of errors A person shall not furnish information relating to a consumer to any consumer reporting agency (i) The person has been notified by the consumer, at the address specified by the person for such Notices, that specifies information inaccurate, and (ii) the information is, in, fact, inaccurate. The credit bureaus have no respect for the laws.Someone needs to hold them accountable for this.
Business Response
Date: 12/31/2023
Please reference the attached letter
Initial Complaint
Date:12/26/2023
Type:Order 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.
Opened a new checking account because ********************** was offering a direct deposit bonus. The terms and conditions of the bonus state that the deposit needs to be made by my employer via an ACH deposit. I set up my direct deposit with my employer using the information provided by SoFi. 2 deposits were made via ACH by my employer within the time period specified. However, the bonus was not paid. Two inquires were made as to why the bonus was not paid and they stated that the deposits were not coded as direct deposits. The terms and conditions do not specify that they have to coded as direct deposits. However, a coding exception would be submitted and I would get my deposit within 7 days. In each case, my coding exception was denied. Not only did SoFi not honor the bonus but they also lied about the exception being accepted. Its pour business practice.
Business Response
Date: 01/05/2024
Please reference the attached document.
Initial Complaint
Date:12/26/2023
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 invested money in crypto with Sofi for years and now they are going to be just a bank and they cant sell or have investment in crypto. They transferred my crypto account to Blockchain and Block chain has stated that they never transferred my account or information so I can log into my account. I contacted ********************** since they were the company the did the transfer. I informed them that Blockchain didnt have my information and they stated that they do not information on me and Sofi stated you need to contact Blockchain, I have done this already and he stated again that I. Basically it to bad for you and we are not going to do anything for you to figure out where the money went to.
Business Response
Date: 01/02/2024
Please see the attached document.
Initial Complaint
Date:12/26/2023
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.
On December 8, 2023 I purchased groceries from Shipt that arrived damaged. On December 10, 2023 I disputed the $50.04 transaction from Shipt because I dont want to pay for damaged items. The email address that SoFi has on file is not updated and the phone number is not updated. If I cant update it in the app because the phone number or the email address is needed to verify identity then how to do they expect me to be able to read the emails from the back office. I called on December 26, 2023 and they couldnt update either the email or the phone number without trying to send an email or text to the phone number or email address that no longer work.
Business Response
Date: 01/03/2024
Please see the attached document.

Customer Answer
Date: 01/04/2024

Complaint: 21056185

I am rejecting this response because: There is no such proof that I purchased the items from SHIPT except the transaction on the bank account ending in **** as it appears. I can however prove I am the owner of such account by login. My iPhone uses Face ID to login to the SoFi application so that should be proof enough as the application will not open unless its MY face.

Sincerely,

*************************
Business Response
Date: 01/10/2024
Please reference the attached letter.
Customer Answer
Date: 01/12/2024
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,

*************************
Initial Complaint
Date:12/23/2023
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.
Dear [Recipient],I'm writing to request a resolution to the ongoing dispute with Sofi Bank. Since June 23, 2023, I've experienced account issues and poor communication. Sofi Bank disabled my account without explanation, then agreed to close it and issue a check. However, there was no proactive communication about the check's status, leading to frustration. Upon inquiring, I was told to wait 30 days, but the check was halted without notification. Sofi Bank instructed me to wait additional days, A portion of the funds was spent, complicating the return process. I demand Sofi Bank issue a check to my address, close my account, and provide additional compensation for the inconvenience. I've been patient, but poor customer service and lack of transparency have caused significant distress. Please address these issues promptly and fairly.Sincerely,*************************
Business Response
Date: 12/28/2023
Please reference the attached letter.
Initial Complaint
Date:12/23/2023
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 noticed a lot of transactions were being made to Paypal, I found out that my information was stolen and that someone had used my debit card information to send money to different accounts. I tried to tell my bank what was going on and was told there would be an investigation. However, they decided that because money had been sent to this person previously that it constituted a "relationship with the merchant" according to them. However, I can show you that my Paypal has not had ANY activity since October, and the transactions in questions all occurred in November. Every single time I try to get in touch with the office that's in charge of Fraud for SoFi, I am told that I need to wait for a phone call or email, I did that in the beginning, but it's been almost a month now and they decided to close my case. I don't know what else I am supposed to be doing because whenever I reach SoFi customer support and let them know what's going on, I get told many different things (can't put me in contact with someone from that Department, can't return my money, can't elevate this to a manager).
Business Response
Date: 12/28/2023
Please reference the attached letter.
Customer Answer
Date: 12/28/2023
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 was able to get my money returned to me.

Sincerely,

***********************************
Initial Complaint
Date:12/22/2023
Type:Customer Service 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.
12/21/2023 I was renting a car in ******, with the same card that i used some months ago, at the same location with no problems previously. This time the car-rental company was unable to complete the process, because it says on their machine with different messages, like "Funds insufficient" "ask customer use another card" ect.... Then i called Sofi and checked my app, an i saw sofi shows 3 times the charge, at the moment i was talking with the *** this lady start play dumd thing, like try in some hours, i just talked with the car-rental merchant service and they have approved, "FALSE" says after that give some minutes working in "SILENCE", and the best one after all back and forth " Helloooo, i cant hear you helloooooo, she heard me good because she stops when i was talking louder. This is not a reliable Credit Card, THINK AGAIN if you are taking you family to vacations and you was expecting use this SOFI card. My frustration its worst, because the this **************** treat me at the moment i was expecting to take *** family to the road trip. SHAME on you SOFI.
Business Response
Date: 12/28/2023
Please reference the attached letter.
Initial Complaint
Date:12/22/2023
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 have power of attorney over .y mothers accounts and this company refuses to help me unlock her account. She is not able to talk to them but they refused me any help at all. They are rude and mean and they hang up. The refuses to give me my money from the account
Business Response
Date: 12/28/2023
Please reference the attached letter.

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SoFi is NOT a BBB Accredited Business.