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

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

• 

  SoFi

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

• 

  SoFi Finance Inc.

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

• 

  Sofi Lending Corp

  PO Box 981075 Boston, MA 02298-1075

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:11/08/2023

  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.

  In SEPT of 2022 a mobile deposit was made into an account that I had with SOFI, I had previously let the bank know I had been experiencing fraud. The mobile deposit was not made by me, nor did I know anything about it. I had requested they look into the fraudulent activity but they have continued to tell me no fraud was found. I want this case investigated. I have repeatedly tried to get these accounts under my name closed and have had no luck reaching anyone from SOFI's fraud department. The accounts listed under my name are fraudulent and I do not have access to any of them. Someone has used my identity to bank under my name and hack into the account I once currently had. Reports have been filed with the ***** FTC and the ****

  Business Response

  Date: 11/15/2023

  Please see the attached document.
  
  

  Customer Answer

  Date: 11/15/2023

   
  Complaint: 20843461
  
  I am rejecting this response because:

   

  I am disputing the mobile check deposit that you state I allegedly made. On August 29th 2022 I had reached out via phone to ************ to report fraudulent activity on this account, A charge from ******* amounting to $300 that had attempted to draft multiple times, I also reached back out on Sept 02 2022 regarding a charge of $40.14 from *** fitness and again on Sept 9th 2022 to report a fraudulent amazon charge in the amount of $30.05 and to report the unauthorized mobile deposit. I was also notified that multiple SOFI accounts were opened using my information. I have tried to dispute this information for over a year now. Reporting identity theft to the **** CFPB, FDIC, office of the controller of currency and attempted calling your customer service representatives who continue to hang up on me time and time again. I have requested since August of 2022 that these accounts be investiagted for identity theft and they never are. Please assist in this situation.
  
  Sincerely,
  
  ***************************

  Business Response

  Date: 11/21/2023

  Please see the attached document.
  
  

  Customer Answer

  Date: 11/21/2023

   
  Complaint: 20843461
  
  I am rejecting this response because:

   

  As stated in my previous response. These transactions we're unauthorized and reported to your security department. Due to your failure to investigate the following transactions

  Verizon Wireless: VZ WIRELESS VW VZW WEBPAY

  Sep 09, 2022 ACH Transaction Rejected: $300 ACHDWIN due to NSF.

  Sep 06, 2022 ACH Transaction Rejected: $300 ACHDWIN due to NSF.
  Aug 29, 2022 ACH Transaction Rejected: $300 ACHDWIN due to NSF.
  ABC: EOS FITNESS ******** FEES - EOS FITNESS ************
  Sep 26, 2022 ACH Transaction Rejected: $40.14 ACHDWIN due to NSF
  Sep 02, 2022 ACH Transaction Rejected: $40.14 ACHDWIN due to NSF.
  Aug 26, 2022 ACH Transaction Rejected: $40.14 ACHDWIN due to NSF.
  ACH Transaction
  Sep 08, 2022 ACH Transaction Rejected: $30.05 ACHDWIN due to NSF

  I do not have any connection with those attempted charges.

  I had to contact the companies directly (EOS, ******** and file fraud charges along with the **** CFPB and the office of the controller of currency. You have also failed to investigate the multiple accounts opened up using my personal information. Upon further research into your banking institution I have found 100's of complaints of identity theft and fraudulent accounts. 

  The latest employee's to have hung up on my are as follows;

  *******

  Bella x2

  **********;

  ****

   

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

  Business Response

  Date: 11/24/2023

  Please reference the attached letter.

  Customer Answer

  Date: 11/27/2023

   
  Complaint: 20843461
  
  I am rejecting this response because:

   

  The SOFI banking company is still refusing to investigate fraudulent activity on the account. The Police report and warrant obtained shows multiple additional log in's onto my banking profile from an IP and name that I am not associated with further proving account takeover and identity theft. 

  The recent responses from SOFI have all the stated the same thing, also proving no further investigation has been completed on this account. 

  They still have not addresses the multiple accounts opened using my social security number and emails. Due to this, I believe an internal employee with SOFI has used my information to compromise my identity.

  Attached is an updated Identity theft report from the *** the original report #********* was sent to SOFI on 9/10/22.

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

  Customer Answer

  Date: 11/27/2023

   
  Complaint: 20843461
  
  I am rejecting this response because:

   

  The SOFI banking company is still refusing to investigate fraudulent activity on the account. The Police report and warrant obtained shows multiple additional log in's onto my banking profile from an IP and name that I am not associated with further proving account takeover and identity theft. 

  The recent responses from SOFI have all the stated the same thing, also proving no further investigation has been completed on this account. 

  They still have not addresses the multiple accounts opened using my social security number and emails. Due to this, I believe an internal employee with SOFI has used my information to compromise my identity.

  Attached is an updated Identity theft report from the *** the original report #********* was sent to SOFI on 9/10/22.

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

  Customer Answer

  Date: 11/27/2023

   
  Complaint: 20843461
  
  I am rejecting this response because:

   

  The SOFI banking company is still refusing to investigate fraudulent activity on the account. The Police report and warrant obtained shows multiple additional log in's onto my banking profile from an IP and name that I am not associated with further proving account takeover and identity theft. 

  The recent responses from SOFI have all the stated the same thing, also proving no further investigation has been completed on this account. 

  They still have not addresses the multiple accounts opened using my social security number and emails. Due to this, I believe an internal employee with SOFI has used my information to compromise my identity.

  Attached is an updated Identity theft report from the *** the original report #********* was sent to SOFI on 9/10/22.

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

• Initial Complaint

  Date:11/07/2023

  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.

  Closed SoFi money accounts over phone I then received an email from the customer support ticketing system titled "[SoFi] Re: Account closure #######" stating "This email is to confirm your request to close your SoFi Money account. After your pending transactions have posted, any outstanding checks have cleared, and any scheduled transfers have been completed, the account closure will be finalized and a check for any remaining balance will be mailed to the address on file." However, at the same time (12:30CST on 11/7/23) I received 2 emails titled "Your SoFi bank account has been closed" stating "In reviewing your SoFi bank account, we noticed activity that indicates the account may have been used in violation of the SoFi Bank Deposit Account Agreement.Because of this, your account will be closed effective immediately. You will no longer be able to use your account online or use your debit card. Once we verify your final account balance, we will either return the remaining funds to your external linked account or mail you a check for that amount at the mailing address we have on file for you. As of this date, no automatic deposits or withdrawals,including any electronic or check transfers from your account will be honored."After receiving these emails I called ********* who confirmed they have not seen the money from the SoFi transfers. I called SoFi and they will not tell me where my money is, if it was transferred, or what violations I have committed for them to hold my money. The amount of money they are holding is a significant portion of my monthly income, the loss of which could put me into financial hardship and hurt my credit score if I do not get my money back in a timely fashion to pay my bills. I will be filing this report and doing any other actions I can to recoup the money I am owed. Give me my money back.

  Business Response

  Date: 11/13/2023

  Please reference the attached document.

  Customer Answer

  Date: 11/14/2023

   
  Complaint: 20840267
  
  I am rejecting this response because:

  The agent that accidentally messed up my account had a heated exchange with me right before doing the action. Youve confirmed to me that this was intentional on the agents behalf and that you do not have processes or policy in place to prevent your agents from taking such actions.

  This action was malicious and with the intent of creating as many problems for me as possible.
  

  After this happened your phone system would not work when I entered my information and I was hung up on by multiple employees when I told them what was happening.

  You do not have the processes or the controls in place to prevent this from happening again and you provided the lowest grade of customer service possible after you screwed up. This is not acceptable.

  Compensation for my time spent and the anguish caused is going to be necessary. Also I want confirmation that the agent is no longer working with the company and that controls have been out in place so that a call center employee having a bad day cant lock someones account and freeze their funds by clicking a button.

  Sincerely,
  

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

  Business Response

  Date: 11/15/2023

  Please reference the attached document.

• Initial Complaint

  Date:11/07/2023

  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 signed an agreement for a personal loan for debt consolidation with SoFi. The terms presented that I believed I agreed to was a monthly payment of $919.75 with an APR of ******%. What I am actually being charged is $1,259.40 with an APR of ******%. What I was told by the company representative was that the monthly payment I was presented was the amount NOT INCLUDING interest. I have never ever in my life seen a presented monthly payment that did not include the amount of interest paid as well. I had no reason to suspect that the payment shown by SoFi was not the actual monthly payment. I was told by the company representative that there is absolutely no recourse, other than possibly refinancing the loan for a longer term, which will result in paying thousands of dollars of additional fees to SoFi. I am absolutely trapped and feel sick that I was deceived by a company in this way. Had I been presented up front with the actual monthly payment amount, I would not have gone through with the loan process because I would have known that it was out of my budget. This practice by SoFi is disgusting, deceptive, and actively against the best interest of the consumer.

  Business Response

  Date: 11/17/2023

  Please reference the attached letter.

  Customer Answer

  Date: 11/17/2023

   
  Complaint: 20839080
  
  I am rejecting this response because I do not believe that the amount presented that I believed I was agreeing to was shown as a computer error. I believe this is a calculated choice made by SoFi and not a technology glitch. It is misleading and NOT in the best interest of consumers.
  
  Sincerely,
  
  ***********************

  Business Response

  Date: 11/20/2023

  Please reference the attached letter

  Customer Answer

  Date: 11/20/2023

   
  Complaint: 20839080
  
  I am rejecting this response because: it did not address my concerns in the duplicity of the presentation of the "monthly payment" that lacked the included interest. Again, I do not believe that this was a technical glitch but rather a willful decision on the part of SoFi to NOT show borrowers the true monthly payment upfront and instead bury it in the fine print of the documents you sign on your phone, where it's ridiculously difficult to even read the information. 

  I reject the "solution" of allowing me to cancel this loan without paying fees, because the money has already been paid to the credit card companies. I can't just "take back" those payments and reject the SoFi loan. That ship sailed when the funds were disbursed. I want SoFi to honor the monthly payment they originally showed.

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

• Initial Complaint

  Date:11/07/2023

  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.

  Acct Name: ********************** BANK, N.A./TBOM Amount$53796 Date Opened: 5/5/2021 Acct #**************** Please DELETE the fraud fraud Account from my credit Report does not relate to any transactions that I have made.The credit bureaus keep disrespecting the law . I have showed them multiple times how they are violating the FAIR CREDIT REPORTING ACT .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 ****b(1) the credit bureaus dont have no written permission According to 15 USC **** have the right to privacy According to 15 USC 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 USC **** I have the right to privacy According to 15 USC ****s-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 errors A 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. The credit bureaus have no respect for the laws.Someone needs to hold them accountable for this.

  Business Response

  Date: 11/15/2023

  Please reference the attached document.

• Initial Complaint

  Date:11/07/2023

  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.

  Acct *************************** BANK Amount:$38778 Date Opened: /17/2022 Acct#******** Please DELETE the fraud fraud Account from my credit Report does not relate to any transactions that I have made.The credit bureaus keep disrespecting the law . I have showed them multiple times how they are violating the FAIR CREDIT REPORTING ACT .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 ****b(1) the credit bureaus dont have no written permission According to 15 USC **** have the right to privacy According to 15 USC 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 USC **** I have the right to privacy According to 15 USC ****s-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 errors A 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. The credit bureaus have no respect for the laws.Someone needs to hold them accountable for this.

  Business Response

  Date: 11/15/2023

  Please reference the attached document.

• Initial Complaint

  Date:11/07/2023

  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 recently sold my home and was not in a hurry to purchase a new one. Looked for a bank to hold the proceeds in until I was ready to buy again. I opened a checking and savings account with **********************. I received an escrow and over payment refund from my old mortgage company after the closing on my house. I deposited these checks into the SOFI accounts I opened. For some reason SOFI froze my accounts and refuses to give me an explanation as to why or how long theyve decided to freeze these accounts. I have made several calls and can not get one answer from anyone about the reasoning behind the freeze. Cant get a hold of a supervisor or a manager. Just its under investigation. But not an answer as to why. I know the checks have cleared and they can determine they are valid checks. As this was weeks ago. After almost ****************************************** get an explanation as to why this is happening. Im more than willing to leave this horrible bank once they refund the money I have deposited into these accounts.

  Business Response

  Date: 11/15/2023

  Please see the attached document.
  
  

  Customer Answer

  Date: 11/15/2023

   
  Complaint: 20837452
  
  I am rejecting this response because: there is still no reason behind them saying I was in violation!  What was the violation?  How am I not *********** funds that were deposited from my personal bank account, from checks made out to me and deposited into a bank account or money from my paycheck  as that is what bank accounts are for? What is the violation?  You have clearly received the funds from these checks and have had more than enough time to verify the validity of the funds. 
  Its been over 30 days and I can not get one single response from anybody as to why they are holding my money hostage at this point. 
  Sincerely,
  
  ***************************

  Business Response

  Date: 11/20/2023

  Please see the attached document.
  
  

• Initial Complaint

  Date:11/07/2023

  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.

  About 2 months ago and my account was hacked into and my information was changed I had a deposit of $1,000 come in and my account was froze so once I had the ** and everything we did the verification and I passed it now there is still a freeze on my account and they're telling me that they cannot release my money to me even though they are closing my account they're trying to say that once the review is done then they will cut me a check for the money that I am owed but if I can't use my account then why not cut me a check now for my money but now they're refusing to give me my money and I need to know what to do because this is ridiculous I'm losing my home I've lost I have children and I have nothing to eat in my house and these people are still holding my money

  Business Response

  Date: 11/15/2023

  Please see the attached document.
  
  

• Initial Complaint

  Date:11/07/2023

  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 Nov 2 I was send money through a Sofi account via text message to get immediately you had to open an account or wait 3 days to transfer to own account. I opened a new account and set up Apple Pay so I could use the account until the debit card came. I used the Apple Pay at the grocery store on Nov 3 no issue right after I got an alert my account was frozen I called the first person I talked to said it was a review and to keep checking to see if account is unfrozen. I called back and was told no it was an id check and I went through the check and it was in frozen. The next morning I went to send my daughter money and it was frozen again and when I called I was given an attitude and hung up on. I called back and they then questioned why I was send the money and who I was to the person that sent it. I nicely answered the question and still the account is frozen with no access to the money that happens to be hold support that I need to pay my mortage and to support my daughter. I have continued to call with no help and no supervisor and very nasty people.

  Business Response

  Date: 11/13/2023

  Please reference the attached document.

• Initial Complaint

  Date:11/07/2023

  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.

  RE: Acct#: ******************* Transaction Date: 10/10/2023 Total Amount: $2189.99 Disputed Amount: $2189.99 Dispute 19087273/2023-10-29 I have filed a dispute with SoFi because the merchant has yet to refund my money even though the item was returned. SoFi was able to file a dispute but told me it can take up to 1/27/2024 for a resolution. They have refused to issue a provisional credit even though I am covered by regulation **** simply cannot have that money missing for months and would like a provisional credit that I am ***********.

  Business Response

  Date: 11/13/2023

  Please reference the attached document.

• Initial Complaint

  Date:11/06/2023

  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.

  In June 2023, I logged into my SoFi account and saw the following message - YOUR ACCOUNT IS FROZEN We apologize for the inconvenience; we are monitoring your account for your protection. Please call us at ************ for more information." That message still appears on my account at **********************, today, some 5 months later November 6, 2023. I have called SoFi on numerous occasions. The customer service reps do not care and have not assisted in resolving the issue of my account being frozen. **************** reps have provided no information whatsoever as to why my account remains frozen and all they keep saying is that "we are investigating" or "it is still in review" or words to that effect. They have not provided any reason for my account being frozen. They have provided no time frame as to when their so-called review and investigation will conclude. Moreover, they have provided no basis for why their investigation is taken so long. It has been 5 months now and I have no access to my funds. Either close my account, or return my funds that you are illegally holding.

  Business Response

  Date: 11/14/2023

  Please see the attached document.