Complaints

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

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• 

  SoFi

  San Francisco, CA 94105-2624

• 

  SoFi Finance Inc.

  1412 Broadway, FL Team Room 5 New York, NY 10018

• 

  SoFi

  2750 E Cottonwood Pkwy Ste 300 Holladay Cottonwood, UT 84121-7285

• 

  SoFi

  SoFI Mailroom Operations 2750 East Cottonwood Pkwy, Suite 300 Cottonwood Heights, UT 84121

• 

  SoFi

  2750 E Cottonwood Pkwy Ste 300 Salt Lake City, UT 84121-7285

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:05/01/2025

  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 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 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 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 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 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 matter

  Business Response

  Date: 05/09/2025

  Please reference the attached letter.
  
  

• Initial Complaint

  Date:05/01/2025

  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.

  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 you

  Business Response

  Date: 05/09/2025

  Please see the attached letter.

• Initial Complaint

  Date:04/30/2025

  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.

  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): 20250430QMGFT011000113

  Business 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 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 a victim of identity theft. This company refuses to refund me the money that was stolen out of my account

  Business Response

  Date: 05/09/2025

  Please reference the attached letter.

• Initial Complaint

  Date:04/29/2025

  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.

  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 to complaint ID ********, and find that this resolution is satisfactory to me.
  
  Sincerely,
  
  ********* *******

• Initial Complaint

  Date:04/29/2025

  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.

  Complaint Against: SoFi Bank N.A.Nature of Complaint: Repeated Account Warnings Despite Compliance and Lack of Transparency Complaint Description:I am filing this complaint regarding repeated warnings and poor handling by SoFi Bank regarding my individual checking and savings account.On March 26, 2025, I received an email from a SoFi Bank representative ********* claiming that my account showed business activity, which violates their Deposit Account Agreement. The email instructed me to call if I believed the notice was in error.I immediately responded by replying to the email and calling SoFis support line. Despite doing so, the representative could not explain what triggered the warning or connect me to the person ********* who issued it.On April 25, 2025, I received a second, identical warning. Again, I called. The agent told me I simply needed to verify that the account was personal which I had already done. Yet no one could explain why these notices continued or provide any specifics about the supposed business activity.This lack of transparency, coupled with repeated warnings despite my immediate compliance, raises serious concerns about SoFis account management practices. My account holds a significant balance, and these issues cause me to question whether my funds are being properly managed and safeguarded.If this pattern continues, I will consider moving my funds to another financial institution and evaluating further steps to protect my interests. I expect SoFi to resolve this issue promptly and professionally.Desired Resolution:Formal confirmation that my account has been reviewed and cleared of any allegations of business use.A clear explanation of what triggered the warnings.Written assurance that no further warnings will be issued without verified evidence.Improved customer service escalation procedures for account concerns.

  Business Response

  Date: 05/08/2025

  Please reference the attached letter. 

• Initial Complaint

  Date:04/28/2025

  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 BANK Amount:$88770 Date:2/19/2025 Acct#********* 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 1681b(1) the credit bureaus dont have no written permission. According to 15 *** 1681 have the right to privacy According to 15 *** 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 *** 1681 I have the right to privacy According to 15 *** 1681s-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 errorsA 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. Section FCRA 611(a)(6)(B)(iii) and (7) of the Fair Credit Reporting Act, 15 U.S.C. 1681i, and send the required notifications to all furnishers of this information. Fair Credit Reporting Act, 15 U.S.C. 1681s-2 Section 623(a)(8)(D) Section 603(p), must notify consumers in writing if they may furnish or have furnished negative information to a CRA. Section 623(a)(7).According to 15 U.S.C 1681s-2(a)(1)(A) and (B)to report inaccurate informationPlease DELETE this information from my credit report, pursuant to section 611 of the Fair Credit Reporting Act, 15 U.S.C. 1681i, and send the required notifications to all furnishers of this information

  Business Response

  Date: 05/02/2025

  Please reference the attached letter.

• Initial Complaint

  Date:04/28/2025

  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 have 2 personal loans with SOFI. On both loans, I have ACH monthly payments coming out of my personal checking account ending in 6433. I refinanced in March one of the two loans, in which I provided my checking account info for continuance of ACH (automatic payment). On April 18, 2025, I received an email message from SOFI, which I couldn't see right away as I was very busy at work & didn't have my password with me at work. In the evening, I was busy packing & taking care of things because I had to get up at 2 am to catch up an early morning flight to go on vacation to ******, ******. I live far away from the *********** & that's why I had to get up very early. On 4/23/25, I received a message from SOFI saying that my payment to the refinanced loan was rejected. This was on my last day of vacation. I called SOFI from ****** to see what was going on because I had sufficient funds in my bank to pay the account. They said the account they used was ending in 2466 (or something like that). I told them this is a closed checking account I no longer have & I had advised SOFI over 2 years ago to delete it because some criminal used it fraudulently back then. I immediately paid the account over the phone. Why did SOFI used this account when I already have an active checking account they've been taking money every month ending in 6433? As a result of this issue, SOFI reamortized my loan unfairly by increasing my interest rate. THIS WAS AN ABUSE! I have never defaulted in my loans, have excellent credit &FICO score, why do this when it was not my fault. They messed up & not me! Not to mention they were treating me like I was in default when it has been only 3 days past due & not my fault. I called SOFI to complain about this issue on 4/24/25 once I had returned back home. I wasted my time. I asked the **************** *** to escalate my case & have someone to call me to resolve this unfair reamortization issue. No one has called me back, as of today!

  Business Response

  Date: 05/07/2025

  Please reference the attached letter. 

  Customer Answer

  Date: 05/08/2025

   
  Complaint: 23257741
  
  I am rejecting this response because: I have not received any response from SOFI, as of today (5/8/25). Why they don't put their response I'm this complaint so BBB can see it? They are doing it on purpose to be in a good position in front of BBB. I am not going to accept anything blindly.
  
  Sincerely,
  
  ****** *********

  Business Response

  Date: 05/14/2025

  Please reference the attached letter. 

  Customer Answer

  Date: 05/14/2025

   
  Complaint: 23257741
  
  I am rejecting this response because: Why am I going to accept a response blindly when I have not received any correspondence from SOFI via physical mail yet, as of today? What if I don't agree with what they say? Why SOFI doesn't put their response here at the BBB site so BBB can see their response? What it really bothers me is that SOFI increased my rate on my refinanced loan because an ACH payment was taken out of a checking account that is no longer valid and that, they supposedly had deleted it in the past, per my request because this account was compromised in 2023. I have a new checking account they've been using since 2024. SOFI MADE THE MISTAKE AND NOT ME! WHY I HAVE TO PAY FOR THEIR MISTAKE?
  
  Sincerely,
  
  ****** *********

  Business Response

  Date: 05/20/2025

  Please reference the attached letter. 

  Customer Answer

  Date: 05/20/2025

  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, per phone conversation I had with a SOFI Rep ********* They fixed my refinanced loan terms.
  
  Sincerely,
  
  ****** *********