ComplaintsforSoFi

• Initial Complaint

  06/24/2024

  Complaint Type:

  Billing Issues

  Status:

  Resolved

  More info

  I applied and was approved for student loan refinancing with Sofi this past May, 2024. At the outset of the process, I spoke with a representative to see if payment could be deferred until I finish school, and I was told affirmatively that it would be if I completed the pending application, which I did. After approval, I noticed in my Sofi online account that payment is scheduled to begin August 1, 2024 so I called Sofi and spoke with a couple of representatives, one of whom finally told me that I was given "misleading information" (their words), as Sofi actually does not allow deferment (except after at least 12 months of payments). My decision to proceed with refinancing was based entirely on the deferment, as I'm currently enrolled half-time and will be full-time beginning this September until May, 2026.I asked for records of my conversations, but the last Sofi representative I spoke to said they did not think it would be possible. However, they said they themselves reviewed my earlier conversation where I was given "misleading information" and apologized for the inconvenience.

  Business response

  07/03/2024

  Please see the attached document.
  
  

  Customer response

  07/04/2024

  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

  06/21/2024

  Complaint Type:

  Product Issues

  Status:

  Resolved

  More info

  On June 4, 2024 I mailed out 3 **** money orders:Serial Number: *********** ************ ****** Amount: $1,000 Serial Number: *********** ************ ****** Amount: $1,000 Serial Number: *********** ************ ****** Amount: $570 You could call **** or go on their website for confirmation that each money order was cashed on June 12, 2024 and on the same day (1) $1,000.00 and (1) $570.00 payment was credited to my account in which (1) $1,000 payment is missing.I called on June 16th, June 17th and June 19th and Im still waiting for an update. All 3 money orders were in the same envelope and were cashed on the same day. Its one thing when its an error and its resolved in a timely manner and its another thing not to get an update or answers to a missing $1,000 payment thats already been cashed. At this point this money has been stolen and kept by Sofi or by a Sofi employee.Account Number: **********

  Business response

  06/29/2024

  Please reference the attached letter.

  Customer response

  06/30/2024

  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. I also want to note that this complaint and issue was resolved on 6/27/24 in which this missing payment was credited to my account.
  
  Sincerely,
  
  *****************************

• Initial Complaint

  06/19/2024

  Complaint Type:

  Billing Issues

  Status:

  Resolved

  More info

  In August 2023 I took out a personal loan with SoFi bank.In June of 2024 I went to pay off the loan in full for an amount of $18,319.05.I received a payment confirmation email on June 12, 2024 and a payment processed email on June 13, 2024. Both emails are attached.I then called Sofi and requested my account be closed on or shortly after June 13, 2024, in which they proceeded to close the account for me.After approximately a week or so, I noticed the funds for the payoff amount had yet to be withdrawn from my bank account.On June 19, 2024 I called Sofi and discovered the loan had not been payed off due to a error in bank account number information. They explained to me they were unable to contact me to inform me the payment failed due to me closing the account. Because of this, interest for a week continued to accrue on the loan increasing the total amount due. Making the outstanding amount due $18,384.78. I spoke with a manger and requested to have the additional interest accrued waived as I had no intent, purposefully nor maliciously to have the payment fail. I was told this was not something they could do. I then proceeded to pay off the $18,384.78 of the outstanding loan on June 19, 2024 and have the confirmation email attached. The resolution Id like to see is a refund of $65.73 to be returned to me for the unknown and unintended interest being accrued.

  Business response

  06/29/2024

  Please reference the attached letter.

  Customer response

  06/30/2024

  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

  06/19/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I had a phone, ************************* info), 3 debit cards stolen when I was out with friends at the ******** fiances bike was gone through& my wallet & spare phone that was with my notebook was taken. I made the claims on all of those transactions & gave SoFi Bank full details on the claims. I got emails back stating that there were no signs that they were not authorized. Everything that happened was not done by me nor what I have done in the past few months to the past year. Sofi has denied several transactions when Ive been scammed and now when my card has been stolen!!! With the ELECTRONIC FUNDS TRANSFER ACT we should be completely covered from issues like this thats why the banks are insured & the institutions are supposed to protect their customers money & accounts from issues & situations like scams, theft & fraudulent transaction charges. All I just want back is my sons money that these people stole. They stole from a 6 year old Autistic boy that gets SSI in that account. Every banking institutions need to realize that phones can be completely cloned & it can make it look like the real person is doing everything thats happening even though that account holder is not even aware of the actions that are accruing under there noses.

  Business response

  06/28/2024

  Please reference the attached letter.

  Customer response

  06/29/2024

   
  Complaint: 21870339
  
  I am rejecting this response because:

  These disputes should have been charged back let alone flagged for suspicious activity since it was not like my normal transaction history. I called & notified the bank of the theft when I realized my debit cards were stolen and cancelled all accounts affected. The Electronic Funds Transfer Act is in place to protect customers from theft, fraud & scams. Why am I not getting back whats rightfully mine but technically my sons social security check. I just want back what should have not been taken by others. 
  
  Sincerely,
  
  *********************************

  Business response

  07/03/2024

  Please reference the attached letter. 

  Customer response

  07/03/2024

   
  Complaint: 21870339
  
  I am rejecting this response because:
  I never said my personal phone was stolen it was a spare phone with a SIM card secondly I have not used PayPal  or CashApp for a while and I do not know the company that PayPal has listed. *** also made other disputes that I was scammed and after doing those I stopped using CashApp and PayPal. My soon to be 7 year old sons SSI checks get deposited into this account & was affected. The ELECTRONIC FUND TRANSFER ACT is in place to protect consumers from situations like this but it seems like your company does not have to comply with this which concerns me about my sons SSI checks even to continue to get deposited with SoFi Bank. 
  just because someone doesnt make a police report doesnt mean something wasnt stolen also. If you fully read the notes and what I stated and have stated the same exact thing each time you guys would comprehend what I said. But no your company wants to do what you see fit to not cover your customers to protect them and there money. Maybe I should contact my attorney to file a lawsuit against your company since SoFi refuses to comply with the ELECTRONIC FUND TRANSFER ACT.

  
  Sincerely,
  
  *********************************

• Initial Complaint

  06/18/2024

  Complaint Type:

  Billing Issues

  Status:

  Resolved

  More info

  On 06/17/24 an attempt was made to order a debit card in my name, i called customer service but they could not give me any info as to why. On 06/18/24 an illegal transaction was made on my account in the amount of $1315.00. I informed fraud department that my account was hacked, and they told me i had to call back because their system would not allow me to verify ID.

  Business response

  06/28/2024

  Please reference the attached letter.

  Customer response

  06/28/2024

  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

  06/18/2024

  Complaint Type:

  Product Issues

  Status:

  Resolved

  More info

  On June 14, 2024, I spoke with a representative about my missing $20 withdrawal, which was inexplicably replaced by a posted transaction of $0.25. I clearly stated that I withdrew the money I depositedI did not deposit $0.25, and I am missing the remaining $19.75. The representative assured me they would request a refund of the $20 closing account fee, given that the account was closed shortly after being opened.I was promised an email confirming this information and feedback within 1-2 business days, but I have received nothing. I demand an immediate refund of my $19.75. It hasn't even been 30 days since the account was opened. Charging a $20 closing account fee is outrageous and unacceptable, especially since this process is automated. I expect my money to be refunded without further delay!

  Business response

  06/27/2024

  Please see the attachment 

  Customer response

  06/28/2024

  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,
  
  Victoria G

• Initial Complaint

  06/17/2024

  Complaint Type:

  Product Issues

  Status:

  Resolved

  More info

  Date of transaction 06/09/24 Total transaction amount $300 Dispute filed on 06/13/24 Dispute details $300 was sent to an individual from my SoFi account through Zelle, I do not use Zelle and the person who received payment is a contact in my phone and I dont know them, I tried filing a dispute the day of but had to wait for the transaction to post, filing the dispute was straight forward, but when I was contacted and spoke to a SoFi representative on 06/14/24 @17:42. I let them know what happened and the representative basically wanted me to lie saying the only way it can even be considered to be approved was if I changed the story such as was I promised a service and not receive it or did I buy fake tickets. I let the representative know no the money was transferred to a person I do not know without my consent or knowledge. I previously had a similar situation with SoFi regarding somebody sending my money to themselves or someone else without my consent or knowledge. Which was resolved but the representative said even though this may be true it is going to be denied, and to call back with more details if you find anything else out. I was upset but I let the dispute process go through to see maybe after more review they approve it but it was not. I received an email saying the dispute was denied on 06/17/24 @14:56.

  Business response

  06/26/2024

  Please see the attached document.
  
  

  Customer response

  06/27/2024

   
  Complaint: 21862614
  
  I am rejecting this response because: Sofi has not reached put to me again or tried to make any contact, elaboration, or correction.
  
  Sincerely,
  
  *************************

  Business response

  07/03/2024

  Please see the attached document.
  
  

  Customer response

  07/03/2024

  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

  06/17/2024

  Complaint Type:

  Billing Issues

  Status:

  Resolved

  More info

  I had a personal line of credit (PLOC) and checking account at ************** at the time it got shut down. My PLOC was transferred to SOFI effective 3/18/24 and autopay continued to be paid from my first republic checking. Autopays on 3/25 and 4/25 occurred successfully and I received an email from SOFI on 5/20 that my autopay is scheduled to be paid on 5/25. I then received an email on 6/5 stating that my account was past due. I logged into the SOFI website and found that there was no longer an autopay listed. There is no option for me to add/change/delete the autopay so I made a one time payment on 6/5. I called SOFI today 6/17 and was told the autopay stopped because my account transitioned to chase and I had to call to re-setup autopay. I was told they emailed me this information but I never received it and they could not tell me when they sent the email. My checking account was transferred to Chase effective 5/25/24. All communication from First Republic and Chase confirm that routing and account numbers will stay the same and autopays on my PLOC will continue without my intervention, conflicting with what SOFI stated on the phone. Since my account was paid on 6/5 instead of 5/25, I was charged an additional $88.73 in interest and my principal paydown was reduced for that period, increasing my interest payments for all future months. I suspect that there may have been an issue since the changeover occurred on my payment date, but I should not be penalized for their system deleting my autopay since all communication I received stated that autopay will continue.I am sending the following attachments:* SOFI emails stating autopay is scheduled and then overdue * May statement showing the 4/25 autopay was made and $242 is due on 5/25 * June statement showing $330.73 interest paid on 6/5, which reduced the principal paid and now causes June interest and all future months interest to be higher since the 6/5 payment paid less principal * screenshot o

  Business response

  06/26/2024

  Please see the attached document.
  
  

  Customer response

  06/27/2024

   
  Complaint: 21862477
  
  I am rejecting this response because:  I have not yet been contacted as they stated in their "generic response".  Sofi apparently cares so little about it's customers and the ******************** that the response they uploaded is literally named "generic response".
  
  Sincerely,
  
  *******************************

  Business response

  07/02/2024

  Please see the attached document.
  
  

  Customer response

  07/03/2024

  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

  06/17/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  In May, I signed up for a SoFi high-yield savings account during one of their promotion periods. The requirement to get a 4.6% apy was to have a direct deposit transaction within 30 days after signing up. I set up my direct deposit with my work the same day. After I got paid, the *** did not update. I contacted the customer service using their chat and was told by their agent that the issue was the transaction is coded as a regular deposit, not direct deposit. They said the issue comes from my payroll and they will put in a temporary fix (see screenshots). I reached out to my payroll, who has to contact SoFi customer service also, who told them it was not something on payroll, but on their own coding that everyone who signs up needs to contact SoFi to get this code corrected (which is never mentioned in the terms of the sign-up) and it will take "1-2 pay cycles" to be reflected in my account (see screenshot of email). It is now June and I still am not receiving the correct 4.6% *** on my account and I contacted the SoFi customer service again and they said it will still take 1-2 pay cycles. In summary, SoFi is luring people in with the promise of easily reaching a 4.6% *** on their savings account only once signed up, never be able to actually receive it, unless supposedly contacting them after a qualifying direct deposit is made, being lied to, then told it needs to be "recoded" and then still take a full month+ to not receive it.

  Business response

  06/26/2024

  Please see the attached document.
  
  

  Customer response

  06/28/2024

   
  Complaint: 21862290
  
  I am rejecting this response because: their response was the generic "we're looking into it"
  
  Sincerely,
  
  *************************

  Business response

  07/01/2024

  Please see the attached document.
  
  

  Customer response

  07/01/2024

   
  Complaint: 21862290
  
  I am rejecting this response. 

  The initial direct deposit was done correctly. All extra time for this account spent waiting for it to reflect that is a scam. The issue I have is that SoFi is luring people in, coding their direct deposits incorrectly and then expecting people to notice that it's not accurate within the timeframe, contact the customer service who lied that it was a coding error on my employers end (which I know is the case because SoFi customer service told my employer this) and then still make them wait for SoFi to fix their mess. 

  There was no notice or anything in terms and conditions that users have to manually contact SoFi to have this code changed. 

  Nothing that has happened with this account has been my fault.

  Why am I being penalized for Sofi's sketchy practices of coding direct deposits incorrectly and never notifying the customer of these issues and LYING about it when a customer does catch it? 

  Sincerely,
  *************************

• Initial Complaint

  06/17/2024

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  I accidentally deposited a remote check twice. I made them aware and they fro3 my account. The check was for 220$ and I have more than enough money in my account. I never touched the money in my account. The fact that they restricted my account without warning was beyond me and then they hung up on me when I tried to call. I will definitely be closing my account. Very rude, and full of BS bank. I will never bank with anyone affiliated with them again.

  Business response

  06/26/2024

  Please see the attached document.
  
  

*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. ↩