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

Customer Complaints Summary

2,322 total complaints in the last 3 years.
773 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:05/29/2024
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.
I took out a loan with SoFi last year. Unfortunately, I fell on some hardships and a divorce and had to contact a debt solution company, I was advised by the debt solution company to provide their contact information to SoFi and to not take their calls - the company wanted to handle it on my behalf. SoFi, after not being able to reach me due to me not returning their calls, then started calling my family members and ex husband to get in touch with me. This felt like a huge invasion of my privacy - I never provided their information on the application. I then updated my number with them so they would no longer bother my family/ex husband and contact me directly. Since then, I have received at minimum 3 calls per day from SoFi. They leave creepy voicemails of themselves either singing or breathing into the phone, and it's incredibly unsettling. They email me every day to tell me about a "final payment notice" - which is ironic because it's never a final notice - and its truly become a form of harassment. I am willing to pay the debt - just deal with the debt solution company and stop calling me. That's what I hired them for. It has cause undue stress and has my family truly worried about me and my economic status - something I did not want to burden them with, as the debt solution company has been handling it for me wonderfully. SoFi just doesn't want to cooperate. So, thanks for the embarrassment, the harassment, and the truly creepy voicemails. It has to stop now.
Business Response
Date: 06/07/2024
Please reference the attached letter.
Customer Answer
Date: 06/08/2024

Complaint: 21775210

I am rejecting this response because: i received a generic response that was titled "generic response" which stated id receive a response by physical mail once they reviewed it. at this time, the response i received does not resolve any of the complaints i have.

Sincerely,

*********************************
Business Response
Date: 06/11/2024
Please reference the attached letter.
Initial Complaint
Date:05/28/2024
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.
My SOFI Account was restricted because a check that I deposited in my account was returned. The check was not returned due to insufficient funds; it was returned because of the bank's processing procedures. I obtained a letter from the bank that issued the check and sent it to SOFI. The letter explained why the check was returned.SOFI decided to close my account anyway because of the returned check, which, according to them, constituted a violation of the SOFI Money Customer Agreement, even though I proved it wasn't my fault.I am hoping they do not take adverse action on my credit report.
Business Response
Date: 06/07/2024
Please reference the attached letter.
Customer Answer
Date: 06/07/2024

Complaint: 21768910

I am rejecting this response because:

Unfortunately, the response by SoFI doesn't provide any additional information I wasn't aware of, and it does not mention the letter from *** bank that I provided, which clearly explains and demonstrates that the reason why the check was returned was NOT my fault. It was out of my control that the check was returned.
I am attaching here the letter from *** Bank (This letter was provided to SoFI) and also a letter from SoFI that I received. The letter describes the check I provided as "Altered/Fictitious." The check was legit, and as the *** letter describes, the account had funds and it was returned due to *** Bank processing procedures.
At no time did I go against what was stipulated in the SoFi Bank Deposit Account Agreement.
SoFI decision to permanently close my account due to banking procedures that wrongly determined that the check I deposited was altered or fictitious was a bad and unprofessional decision.
I await SoFI response and expect an apology from this institution. I do not want my account reopened because, after this bad experience, I am not planning to bank with this institution ever again.

Sincerely,

**********************************
Business Response
Date: 06/13/2024
Please reference the attached letter.
Initial Complaint
Date:05/28/2024
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 has held a check for $249.52. the check cleared and despite SoFi wrongly assuming I was forging checks, the issuing bank has still not and I believe now is legally precluded from taking it back. Further, the 4 week span is more than enough time for any remaining pending charges to post. I just want the account unrestricted enough so that I may claim my funds.
Business Response
Date: 06/04/2024
Please see the attached document.
Initial Complaint
Date:05/25/2024
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.
hello my name is ******************************* and I fighting with SOFI loans I had a co signer on a loan of mine that filled Bankruptcy NOT ME they closed the account on me I called them on may 8 and may 18 and was told both REPS that they would exselate this to the customer service team to get the account restored well its now may 25 i called and filling got with some one pleaded with them to take my payment they would not she said she would get with there customer service team to have this fixed i heard this twice already and still nothing now they are telling me loan is PAST due I am so upset because i brought my credit from a 458 to a 730 and and NO I AM NOT LATE please help me all I want is account restored and i can make payment and NO attached late fees due to there mess up here this is my last digits on account number 8272 like I said I ******************************* did NOT file a bankrupcy
Business Response
Date: 06/04/2024
Please reference the attached letter.
Customer Answer
Date: 06/05/2024
Sofi did Not send a email

Complaint: 21761280

I am rejecting this response because:
SO FI DID NOT CONTACT ME WITH ANY KIND OF FIX
Sincerely,

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

Hello this is ******************************* last 4 of ss is 3151 can this please be sent to sofi. All i ask is that my account is restored and here is the key no late fees and no bad marks on my credit see I am a single dad working 76 hours a week to make it and provided I had a identity theft years ago from a ex and it dropped my credit down to 475 and now it's a 737 I am proud at what I have done you see I know what having good credit Means in this world and The doors and opportunities that it opens up for you. And I know what having bad credit can do for you so I value my credit because I want to buy a house for me and my little one and when I took the through you I thought about the idea of using this payment to help build on my credit. Even more establish another good payment history and now I am stressed with this all I ask is, please look into this I guess. I said my name is ******************************* I did not file a bankruptcy my cosigner which is my father is on hard times right now had to file bankruptcy and like I said I have nothing to do with it meaning I have not part in him filing bankruptcy and I Totally. Intend to be financially responsible for this loan. That was my intent when I signed up so please take my normal and and no late fees or bad marks please I have tried to make a payment but am told my payment system is locked out please respond and I would gladly make a payment yours truly *************************;

Business Response
Date: 06/11/2024
Please reference the attached letter.
Initial Complaint
Date:05/25/2024
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.
My name is *************************** and I am contacting you because I disputed two charges last month from a merchant that I cancelled and revoke authorization from charging me back in November 2023.You disputed the charges in April and credited me the money back. I was told you would block them from charging me again since I revoke authorization from them to charge my account.I check my account today May 25, and yet again there is another $10.00 charge. The merchant info is below:5/25/24- Grid*Pay- $10.00 I need this merchant blocked from not being able to charge me. At this point do I need to close my account and change to a different bank in order to not have this happen again. Or is it possible to get a new account number?
Business Response
Date: 06/03/2024
Please reference the attached letter.
Initial Complaint
Date:05/24/2024
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.
Sofi has a referral bonus for referring first time customers. I referred my husband to ********************** for a personal loan, which he was recently granted for. I co-signed his loan. When I contacted Sofi regarding the referral bonus, I was told that unless I used the link, the referral bonus cannot be granted. When asked further questions for clarification, the customer service rep and the account manager could not provide a clear answer except the link for the referral was needed. Im very disappointed with their customer service.
Business Response
Date: 06/01/2024
Please reference the attached letter.
Initial Complaint
Date:05/24/2024
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 was Charged FRAUDULENTLY FOR $500 through a company and Have provided all the requested Information to Sofi and i have yet to receive a refund/credit.This has caused me emotionally/financial stress and Sofi continues to Delay the resolution of this matter after Providing them the exact information that Proves that I was charged FRAUDULENTLY.
Business Response
Date: 06/01/2024
Please reference the attached letter.
Initial Complaint
Date:05/23/2024
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.
05-23-24 was when they put my checking account in a restricted state where I couldnt use my money I had sent my direct deposit into. Note all my money was deposited into my SoFi account. When I noticed the restriction I immediately called ***************** They couldnt give me a reason for the restriction all they said it was internal investigation and check my account frequently. No time frame. Later on that evening I called back asking for the reason to why they cut access to my hard earned money. They still couldnt give me an answer or explanation. After I told them they were in the wrong for this the rep started saying it was probably because unusual activity which I stated that I can verify all activities on my account. Still couldnt get a response. They have no right to hold my money from me or anything in that nature. Cant tell your customers how and when they can spend their hard earned cash. Crazy . My first check I been waiting for due to having a lot of bill to pay and pay back. My god this is very stressful not being able to hold up to my word because their actions to put my account under restriction. Bs. Now Im having to pay extra to extend my loans
Business Response
Date: 06/02/2024
Please reference the attached letter.
Initial Complaint
Date:05/23/2024
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.
Frontgate tickets canceled a festival where I had two tickets from the day before the festival. The festival was on May 4th and they announced the cancellation on May 3rd. I want my full refund back for this horrible service and inconvience. Order #********* They said they processed my refund on May 9th and it will be back in my account in 10 days. It is now May 23rd and I still do not have my refund.
Business Response
Date: 06/02/2024
Please reference the attached letter.
Customer Answer
Date: 06/03/2024

Complaint: 21751687

I am rejecting this response because I want my money back into my account. Not a letter.

Sincerely,

***************************
Business Response
Date: 06/07/2024
Please reference the attached letter.
Customer Answer
Date: 06/07/2024

Complaint: 21751687

I am rejecting this response because if the merchant sent the funds already then they should have been in my account. End of story. I will be filing a lawsuit against sofi. This situation did violate my rights.

Sincerely,

***************************
Initial Complaint
Date:05/21/2024
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.
On August 11, 2023 someone hacked my *********************************** Account. I finally was able to get that resolved and my money returned. It was a result of a lack of security on the part of ****************.Part of the money removed from my savings account, was deposited into a SoFi account, by the scammer. I called SoFi and let them know about the fraud. The agent I spoke with used 3 personal identifiers. I can't find the paper with his name, but I gave him: My full name, my email address, the email the scammer was using (he'd put it in my CashApp account) and my cell phone number. He assured me that there was no account at ********************** under my credentials. I was given more info. by the ********************************* [**************]I was directed to call SoFi back on August 30, 2023 and go at it with different identifying credentials.This time ******* at SoFi found an account for me. She informed me that the account had been closed and ****** stated that an investigation was ongoing, when I notified them that the account had been fraudulently created.There could have possible been only 19 days between the 2 phone calls.I received a 1099 (attached) on February 3, 2024. The amount I was missing was $5,300. **************** covered it. But upon receiving the 1099, I believe there is still an account open at SoFi in my name. I want what's in it. EVERYTHING plus interest and compensation for their lying to me and never completing the investigation as promised.
Business Response
Date: 05/30/2024
Please see the attached document.
Customer Answer
Date: 05/30/2024

Complaint: 21744047

I am rejecting this response because: The $500 ONLY was returned to the **************** account.
Because **************** allowed the breach to take place, they remitted my loss to me in the amount of $5,300. That money DID NOT come from SoFi. Hence, **************** has settled their portion of the claim.
As a result of the settlement by ****************, they are absolved of any further action in this matter.
I received a 1099 from SoFi, which I've included in this claim. My account according to ********************** was only active for 9 days. Where is that 1099 amount coming from? That money is still in an account at **********************. Those funds need to be released to me at once, WITHOUT further involvement from ****************.
They have paid up and I expect SoFi to do the same. $5,300 plus interest. This is theft and at this point I can't afford an attorney!

Sincerely,

*********************************
Business Response
Date: 06/06/2024
Please reference the attached letter.
Customer Answer
Date: 06/06/2024

Complaint: 21744047

I am rejecting this response because:
The amount of money that was returned was only $500. I am trying to retrieve the missing $5,300., that I'm positive SoFi still has in a frozen account in my name.
Let me re-iterate. **************** has taken care of their end of the dispute. They shouldn't have to submit ANYTHING. They have admitted to their lack of security. Now it's your turn.
I spoke with SoFi staff twice. The first time, after giving several of my identifying credentials, I was assured there was NO account in my name, in your institution. The second time, 9 days later, an account was located. If the account was deactivated, I wouldn't have even RECEIVED at 1099 with an interest amount to declare. You can't just say that there is no money there and you're going to reissue a new 1099. I am 70-years old and I file my income taxes EVERY year. That doesn't happen. If my account HAD been deactivated, I would have received notification from someone at SoFI advising me of the termination of the account. If the account was on a hold pending review, I also would have received notification, as I had requested it.
I don't have money to secure counsel. I am asking that you do the right thing. I have been through a lot, having my identity stolen and having my spotless credit ruined. Is that HHL needed so that **************** can't hold a claim on you, because of the money they've released to me in your name? So that you can say that I got my money already and just keep the $5,300 in the account? You would do that to a 70-year old blind sighted by this event? You are a large company. When you get suspicious deposits and new accounts opened in the middle of the night like mine was, maybe you should do a follow up.

Sincerely,

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

BBB Business Profiles may not be reproduced for sales or promotional purposes.

BBB Business Profiles are provided solely to assist you in exercising your own best judgment. BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. However, BBB does not verify the accuracy of information provided by third parties, and does not guarantee the accuracy of any information in Business Profiles.

When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints.

BBB Business Profiles generally cover a three-year reporting period, except for customer reviews. Customer reviews posted prior to July 5, 2024, will no longer be published when they reach three years from their submission date. Customer reviews posted on/after July 5, 2024, will be published indefinitely unless otherwise voluntarily retracted by the user who submitted the content, or BBB no longer believes the review is authentic. BBB Business Profiles are subject to change at any time. If you choose to do business with this company, please let them know that you checked their record with BBB.

As a matter of policy, BBB does not endorse any product, service or business. Businesses are under no obligation to seek BBB accreditation, and some businesses are not accredited because they have not sought BBB accreditation. BBB charges a fee for BBB Accreditation. This fee supports BBB's efforts to fulfill its mission of advancing marketplace trust.

Cookies on BBB.org

Important information

Complaints

Customer Complaints Summary

If you've experienced an issue

Filter and sort by

Sort by

Complaint status

Complaint type

Complaint statuses

Business Response

Customer Answer

Business Response

Complaint statuses

Business Response

Customer Answer

Business Response

Complaint statuses

Business Response

Complaint statuses

Business Response

Customer Answer

Business Response

Complaint statuses

Business Response

Complaint statuses

Business Response

Complaint statuses

Business Response

Complaint statuses

Business Response

Complaint statuses

Business Response

Customer Answer

Business Response

Customer Answer

Complaint statuses

Business Response

Customer Answer

Business Response

Customer Answer

SoFi is NOT a BBB Accredited Business.