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

2,322 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:04/16/2024
Type:Billing 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.
Within the last couple of weeks (4/1/2024-4/15/3024), there were some fraudulent transactions on our Sofi checking account. Sofi caught all but 3 and we were able to cancel 2 "pay a friend" transactions. We thought we had cleaned everything up and we changed passwords etc on 4/12/2024. On 4/15/2024 we were notified by email that our account was frozen again due to suspicious activity. We received an email a few minutes later stating that the account was unfrozen. However, our account is frozen still (going on 2 days now). We have called and they will not give us any detail other than asking us if we made a recent "pay a friend" transaction to which we said no. They can not give us any other information NOR is there anyone to escalate the issue to. We just have to wait for them to review and unfreeze our account. There's no time-frame for this. We have bills to pay, gas and groceries to buy, etc.. We've called several times and support tells us the have escalated it but they can't give us any idea of when it will be resolved. This is very frustrating. I'm glad they caught the fraudulent activity however they are now holding our account hostage.
Business Response
Date: 04/22/2024
Please reference the attached letter.
Business Response
Date: 04/22/2024
Please reference the attached letter.
Customer Answer
Date: 04/23/2024

Complaint: ********

I am rejecting this response because:
Here are the issues I have with the actions SoFi took. It's water under the bridge but hopefully SoFi can use this feedback to improve their processes. The 2 $23 dollar transactions referenced, but happened on the 12th WHILE my wife was on the phone with SoFi. I was able to log into our account and cancel both of the transactions right after they happened. Why then, did you wait until 3 days later to freeze our account? The customer service reps had zero info to give us other than our account was frozen and had we made any "pay a friend" transactions. This locked our account down for 2+ days in the meantime we had bill payments that bounced resulting in additional late fees that we will never get out of SoFi. I appreciate the security and protection, however, it was 3 days too late and without any explanation given to us. Please equip your customer service team with the tools and information to provide a better customer service experience. Every time we called, it was a struggle to get them to stay on the line. It was like a race for them to get off as fast as they could. Terrible customer service. Anyway, we're switching banks now. Please use this info to help improve your processes.
I'm not going to pursue this matter any further. Once this response is sent to SoFil the complaint can be closed.

Sincerely,

Robert ****
Customer Answer
Date: 04/23/2024

Complaint: ********

I am rejecting this response because:
Here are the issues I have with the actions SoFi took. It's water under the bridge but hopefully SoFi can use this feedback to improve their processes. The 2 $23 dollar transactions referenced, but happened on the 12th WHILE my wife was on the phone with SoFi. I was able to log into our account and cancel both of the transactions right after they happened. Why then, did you wait until 3 days later to freeze our account? The customer service reps had zero info to give us other than our account was frozen and had we made any "pay a friend" transactions. This locked our account down for 2+ days in the meantime we had bill payments that bounced resulting in additional late fees that we will never get out of SoFi. I appreciate the security and protection, however, it was 3 days too late and without any explanation given to us. Please equip your customer service team with the tools and information to provide a better customer service experience. Every time we called, it was a struggle to get them to stay on the line. It was like a race for them to get off as fast as they could. Terrible customer service. Anyway, we're switching banks now. Please use this info to help improve your processes.
I'm not going to pursue this matter any further. Once this response is sent to SoFil the complaint can be closed.

Sincerely,

Robert ****
Business Response
Date: 04/26/2024
Please see the attached document.
Business Response
Date: 04/26/2024
Please see the attached document.
Customer Answer
Date: 04/29/2024
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,

Robert ****
Customer Answer
Date: 04/29/2024
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,

Robert ****
Initial Complaint
Date:04/15/2024
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.
To whom it may concern,RE: Financial matter On 04/15/2024, at 515 PM local time, I attempted to chat with a Sofi Bank representative, utilizing the Sofi application. The purpose of my chat was to discuss a private, financial matter. The application stated chat was unavailable. The application stated to call ************. I called this number and was connected to *****, who identified herself as a customer representative. ***** did not resolve my issue. I requested to speak with a supervisor or leader. I waited thirty (30) minutes to speak with a, Manager. ***** remained on the line and provided updates, stating fifteen (15) minutes until a Manager is available, then five (5) minutes, down to one (1) minute. After ***** stated it would be a minute or less, she informed the Managers had left for the day. ***** then stated, no supervisor, boss, manager or leader was available. ***** then provided, I completed a call back request form, someone should call you back within forty-eight (48) hours. ***** could not guarantee that a manager will actually call me back. The call ended at 654 PM, local time. I spent one (1) hour and thirty-nine (39) minutes on the phone, and my issue still isnt resolved. An image containing the call duration is attached to this correspondence. ***** provided Sofi case number Sofi case number *******. As it is a private, time-sensitive, financial matter, I do not wish to provide further information at this time. In order to preclude legal action, Im seeking a call from a SoFi representative, preferably a manager, as soon as possible. Please confirm digital receipt of this complaint at the email address listed below.Yours truly, *************************** ********************** ************
Business Response
Date: 04/22/2024
Please reference the attached letter.
Customer Answer
Date: 04/23/2024
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:04/15/2024
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.
Told that a loan would be processed and come to find out they want your life expectancy along with blood samples. A joke and a bad company don't do business with them. Get it off my report and I am looking to *** them for negligence and false propositions and heartache . Filing docs to have in court and filing promptly. Also sending complaint to attorney General for review. Nothing in the docs says anything about providing such needed documents and will pur*** wholesale and completely.
Business Response
Date: 04/22/2024
Please see the attached document.
Initial Complaint
Date:04/15/2024
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.
I have been facing significant difficulties accessing my SOFI bank account for the past two weeks beginning April 1, 2024 -Present date April 15, 2024. I have called every single day for help and have emailed non stop and submitted screenshots of the error message I receive when logging in. Despite repeated attempts to resolve the issue through the bank's customer support channels, the problem remains unresolved. The main issues I have encountered are as follows:Authentication Code Error: Whenever I attempt to log in to my account, the authentication code is sent to an invalid phone number, and the phone number on my account is updated. Despite my efforts to update the app, ensure the software is up to date, and change my password. Technical support tickets keep getting closed or generic follow *** with no resolution to my specific issues. This is an issue with SoFi's software and no one is helping me resolve this matter. An account manager named ******, whom I spoke with April 4, 2024, provided conflicting information and was highly unprofessional in her handling of my concerns. She stated that SOFI no longer uses the authentication code feature, adding to my concerns. Inaccessibility of Funds: Due to the ongoing lockout of my account, I have been unable to access my funds for two weeks, causing severe financial inconvenience and distress.Tax Submission Delays: The inability to access my account has resulted in me falling behind on my tax submissions. Lack of Resolution: Despite submitting screenshots of the issue and contacting customer support multiple times, my technical support tickets have been closed without resolution. As of today's date, April 15, 2024, my account remains inaccessible, plunging me into a state of profound frustration, anxiety, and helplessness. This ongoing ordeal has left me feeling utterly powerless and has disrupted my peace of mind.
Business Response
Date: 04/23/2024
Please reference the attached letter.
Initial Complaint
Date:04/15/2024
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.
I cant access my bank account and money and its been over a week with no information about when I will be able to access my funds. Its unbelievable. And its due to the fact that I moved my own money and they had some backend problem. Its totally on them and theres no way to get support from the org.
Business Response
Date: 04/22/2024
Please reference the attached letter.
Initial Complaint
Date:04/14/2024
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 did not receive the checking account ********************** plus bonus after my qualified direct deposit both from my employer paycheck and IRS tax refund, accumulated amount over 5000. The SoFi only consider my paycheck as direct deposit. However, the promotion terms also show government agency ACH as direct deposit. I want to get my 300 bonus back.
Business Response
Date: 04/24/2024
Please reference the attached letter.
Customer Answer
Date: 04/27/2024

Complaint: 21574133

I am rejecting this response because:
i find the credit has not come

Sincerely,

******
Business Response
Date: 05/05/2024
Please reference the attached letter.
Customer Answer
Date: 05/06/2024

Complaint: 21574133

I am rejecting this response because:
Neither physical mail nor credit back received

Sincerely,

******
Business Response
Date: 05/13/2024
Please see the attached document.
Initial Complaint
Date:04/13/2024
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.
Unauthorized charges were posted when they were obviously fraudulent so I question your security measures and the total lack of concern for my financial well-being because while I wait for you to do your job and investigate these unauthorized charges I can not buy my medication, pay my phone bill, or buy food. I am shocked that my account was not credited in a timely manner since the fraudulent charges are obvious. This is not how most banks treat their customers or do business. Why are you getting away with it and why the total lack of respect and disregard for me?
Business Response
Date: 04/22/2024
Please reference the attached letter.
Initial Complaint
Date:04/13/2024
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.
Locked out of account. On 4/12/24 rec'd cell call from I assume Sofi about some concerning activity on my SOFI acct. Because I could not confirm who it was calling me, I hung up. I then called SoFi back to find out problem. 1st call they sent me a link to download my DL, which I attempted 4 times to download and would not accept photo, then link expired. Called SoFi back and got no where. I am locked out of my account and they told me I had to wait 24 hours. I called back this morning and the lady said she sent me a text again, which she didn't and hung up phone. When this is resolved, I will close my account. I have asked 3 different times for a supervisor, the company call center is located a foreign country, they say they have no supervisor.
Business Response
Date: 04/22/2024
Please see the attached document.
Customer Answer
Date: 04/23/2024
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:04/12/2024
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.
My personal loan was recently transferred from ************** to SoFi; SoFi incorrectly attributed my on-time April loan payment (both principal and interest) as "Principal" Only and they are now claiming I am overdue, despite having paid actually more than was required. This is nowe blocking me from making another payment, risking further headache.I have attempted to sort this out on the phone with SoFi 3 times, over a week and a half, with no resolution
Business Response
Date: 04/22/2024
Please reference the attached letter.
Initial Complaint
Date:04/11/2024
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 recently established both checking and savings accounts with Sofi ************ To support my financial independence, my parents arranged for a portion of their income from the Social *********************** and the ********** of ******** to be directly deposited into my Sofi savings. However, on April 9th, 2024, I discovered that my account had been restricted. Upon contacting Sofi to seek clarification, I was informed by a representative that the funds were considered ineligible since they originated from third-party sources. Urgently, I requested Sofi to either lift the restriction or promptly return the funds to me. Unfortunately, the representative stated that the matter was under review but did not provide a timeframe for resolution. I earnestly seek assistance in facilitating the return of my funds.
Business Response
Date: 04/17/2024
Please see the attached document.

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SoFi is NOT a BBB Accredited Business.