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Business Profile

Loans

SoFi

This business is NOT BBB Accredited.

Find BBB Accredited Businesses in Loans.

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

Find a Location

SoFi has 9 locations, listed below.

*This company may be headquartered in or have additional locations in another country. Please click on the country abbreviation in the search box below to change to a different country location.

    Please enter a valid location.

    • SoFi

      San Francisco, CA 94105-2624

    • SOFI

      6175 Main St STE 490 Frisco, TX 75034-3441

    • SoFi

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

    • SoFi Finance Inc.

      860 Washington St Fl 2 New York, NY 10014-1308

    • SoFi

      4064 Colony Rd STE 200 Charlotte, NC 28211

    Customer Complaints Summary

    • 2,320 total complaints in the last 3 years.
    • 771 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.

    Sort by

    Complaint status

    Complaint type

    • Initial Complaint

      Date:07/01/2025

      Type:Billing Issues
      Status:
      Answered
      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 closed my account without warning or clear explanation. I was told it violated their internal policies, but no specifics were given. I used the account for normal personal expenses and had a few thousand dollars in it. My account is now restricted, and Ive been told I must wait for a physical check, but no timeframe has been provided. I rely on this money for rent, bills, and other living expenses. I would like SoFi to immediately provide a clear reason for the account closure and an exact timeline for when my remaining funds will be released. Im requesting expedited processing of my funds, as holding them indefinitely with no communication is financially and emotionally distressing. I also request that SoFi improve their transparency and escalation process.

      Business Response

      Date: 07/10/2025

      Please reference the attached letter.

    • Initial Complaint

      Date:06/30/2025

      Type:Service or Repair Issues
      Status:
      Answered
      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 filing this complaint about a SoFi referral promo found through Swagbucks and SoFis website. The offer promised me $75 and my friend $25 for signing up and depositing ******** friend followed all steps, deposited the minimum, and left the money in the account. ********************** **** and a supervisor confirmed spending the funds with the card was allowed and would not disqualify the bonus in writing and vocally.After waiting, neither bonus was paid. SoFi then claimed my friend was disqualified for withdrawing funds, contradicting earlier info. A supervisor later promised a one-time exception and the bonuses would be paid in 12 business days.Its been over three weeks with no payment. SoFi changed their reason to the funding method used, which we were never told initially.Multiple representatives promised in writing the bonuses would be credited due to misinformation, but I have yet to receive mine.The promo terms were updated the day after I filed a complaint, raising concerns they altered conditions to avoid paying.We signed up through a third-party promo, gave personal info, and were met with broken promises and misleading info.Please review and hold SoFi accountable to their original terms.Thank ******** in the images I submitted you can see them say dont worry and that we will get our bonus credited to our account within 1-2 business days for the misunderstanding, which never happened. I never once received my 75 I was promised for inviting him.

      Business Response

      Date: 07/09/2025

      Please reference the attached letter. 

    • Initial Complaint

      Date:06/29/2025

      Type:Product Issues
      Status:
      Answered
      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 May 29, 2025, I initiated a $5,000 ACH transfer from my SoFi checking account ending in 3090 to my husbands *********** account (account number **********). ********************** confirmed the transaction was sent successfully (Transaction ID: ***********************, but the money never reached the receiving account.I contacted ***********, and they have no record of receiving this transfer. SoFi support has been contacted multiple times, but they have failed to provide a clear resolution, trace report, or refund. They have not escalated the issue or taken accountability.I am requesting that SoFi immediately:Provide documentation of the transfer Conduct a formal trace and share the results Refund or credit the amount if the funds cannot be located I have email confirmation of the transaction and supporting evidence. This unresolved matter has caused financial stress and must be addressed promptly.

      Business Response

      Date: 07/03/2025

      Please reference the attached letter. 

    • Initial Complaint

      Date:06/29/2025

      Type:Service or Repair Issues
      Status:
      Answered
      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.
      06/27/2025 I had a dispute i put with the bank and they did not help me . I have filed many disputes and they did not help me at all I am not going to let this keep happening to me whoever is doing the disputes I feel they are not helping at all and just lying ... I am going to keep disputing because that is my money and I will not ever have this happen again and I will be switching banks I can no longer deal with this i contacted cash app as well because money was sent to the wrong person and they did not help at all

      Business Response

      Date: 07/08/2025

      Please see the attached document

    • Initial Complaint

      Date:06/27/2025

      Type:Service or Repair Issues
      Status:
      Answered
      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 Friday, June 27th, 2025, SoFi Bank froze my account without notice, explanation, or prior communication. Ive banked with SoFi for over three years. My account is used for both personal and business purposes, and it is connected to ****** a secure and internationally recognized payment processor I use for daily deposits from ********** business is legally registered and fully compliant, offering beauty services, cosmetic treatments, and digital products. Every deposit is legitimate and well-documented. I also use this account for personal bills, expenses, and everyday transactions.On June 27th, I attempted to access my funds and discovered my account had been frozen. I immediately contacted SoFi support, verified my identity, and requested assistance. I was told my account was frozen but was not given any reasoning, documentation, or steps for resolution.When I asked to speak to a supervisor or manager, I was denied. The representative could not explain the freeze, offer a timeline, or connect me to anyone with more authority. I still have not received any written communication from SoFi as to why this *********** date, I have not been informed of any violation, suspicious activity, or fraud. I have never broken SoFis terms or used my account improperly. I have always operated within legal and ethical business ************ a result of this freeze, I have: Lost access to personal and business funds Been unable to pay vendors or manage client transactions Suffered stress, delays, and reputational harm Been denied transparency and support from SoFi I am requesting that SoFi Bank:1.Unfreeze my account and restore access to my funds 2.Provide a written explanation of the freeze 3.Disclose any internal flags placed on my account **** held accountable for the financial disruption caused This situation has severely impacted both my livelihood and daily life. I respectfully request assistance in resolving this matter.

      Business Response

      Date: 07/07/2025

      Please see the attached document.

    • Initial Complaint

      Date:06/27/2025

      Type:Billing Issues
      Status:
      Answered
      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 wife rented a hotel room. I stayed there with her at the hotel allowed their maintenance department to charge not my wife spank but my bank with my name wasnt even on the road. My bank put me in -134 for this charge no dont maintenance. Not even tell now. The reason that the hotel maintenance charge is because we got switched rooms during the day because of some issues with the room they no reason to charge us because we didnt do it me especially because I didnt pay for the hotel room that time so my name wasnt even on it. I sent my bank statements and everything to the bank. Please report everything to the bank so still isnt giving me money back on my account investigating it for over *********************************************************************************** I just want my money back.

      Business Response

      Date: 07/02/2025

      Please reference the attached letter.

    • Initial Complaint

      Date:06/27/2025

      Type:Order Issues
      Status:
      Answered
      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 filing this complaint regarding a serious loan documentation error by SOFI. I applied for a loan with a requested principal of $98,000, which was confirmed on screen during the application. However, the system reverted the loan to $87,000 without notifying me, and the lender proceeded with this incorrect ********* a result, I am now being quoted a significantly higher interest rate for the same financing need, based solely on inaccurate documentation. I contacted the lender the very next day to correct the issue, but they were unwilling to assist or acknowledge the system failure.I am requesting immediate resolution through one of the following options:- Rescind the current application and allow me to reapply with the correct $98,000 principal and proper documentation.- ***** an exception to waive the 90-day seasoning policy and process the full $98,000 loan at the originally quoted rate and term.I am also requesting written confirmation of the corrected loan terms, including the updated payoff schedule and interest cost.This issue has caused unnecessary financial stress and was not the result of any action on my part. The lack of transparency and refusal to correct an internal system error is unacceptable.Desired Outcome:Correct the loan to reflect $98,000 at the original rate and term, or approve an exception to reprocess the loan under the correct terms, with full written confirmation.

      Business Response

      Date: 07/03/2025

      Please see attached document. 

    • Initial Complaint

      Date:06/26/2025

      Type:Service or Repair Issues
      Status:
      Answered
      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.
      Every month for the last six months they have said Ive been late and pay my bill and I havent then they call me back and sayI never paid it I dont have no other problems with any other creditors with them Ill just keep getting harassed by them they lying on name they never take the money out of 14 days very unprofessional very inconsistent so since January to now its been h*** Trying to pay a credit card thats supposed to have zero APR the first payment was $500 second payment was 100 or two and then they keep saying Im late Im overwhelmed theyre messing up my credit and I dont want this credit card thank you

      Business Response

      Date: 07/03/2025

      Please reference the attached letter. 

    • Initial Complaint

      Date:06/26/2025

      Type:Service or Repair Issues
      Status:
      Answered
      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 been trying to sign up with ***** and keeps giving error message. I was told to sign up with different numbers and every time i try to identify my identity sofi states it cant verify my identity. Because of sofi internal glitches have been going around in circle for like a year with no resolution .need this fixed asap!

      Business Response

      Date: 07/03/2025

      Please reference the attached letter.

      Customer Answer

      Date: 07/03/2025

       
      Complaint: 23524014

      I am rejecting this response because:there is no resolution just a follow this is unacceptable 

      Sincerely,

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

      Business Response

      Date: 07/11/2025

      Please reference the attached letter.

    • Initial Complaint

      Date:06/26/2025

      Type:Service or Repair Issues
      Status:
      Answered
      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 was credited $2,767.52 from cashapp due to a fraudulent payment. My money can not be found and I would like for sofi to trace my money and refund it properly like I was promised!

      Business Response

      Date: 07/03/2025

      Please reference the attached letter. 

    SoFi is NOT a BBB Accredited Business.

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