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Business Profile

Loans

SoFi

Headquarters

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 2024. 

    Consumers are encouraged to review the following links for information on terms of service and security. 

    https://www.sofi.com/terms-of-use/

    https://www.sofi.com/faq/


Complaints

This profile includes complaints for SoFi's headquarters and its corporate-owned locations. To view all corporate locations, see

Find a Location

SoFi has 21 locations, listed below.

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

    Please enter a valid location.

    • SoFi

      San Francisco, CA 94105-2624

    • SOFI

      6175 Main St STE 490 Frisco, TX 75034-3441

    • Sofi Lending Corp

      PO Box 981075 Boston, MA 02298-1075

    • SoFi

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

    • SOFI

      6175 Main St STE 490 Frisco, TX 75034-3441

    Customer Complaints Summary

    • 2,317 total complaints in the last 3 years.
    • 807 complaints closed in the last 12 months.

    If you've experienced an issue

    Submit a Complaint

    The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

    Sort by

    Complaint status

    Complaint type

    • Initial Complaint

      Date:07/26/2023

      Type:Service or Repair Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      June 2023 I paid my mortgage with enough funds in my account. It got returned saying there were not enough funds. That was a lie and customer service representative verified this. I got a rude email from higher up people in the back saying I didn't have enough funds and I was not allowed to respond as the conversation is now closed. Who does that? Worst customer service move ever. I called and got transferred with each person not knowing what to tell me. **** said she filed a complaint for me but I haven't heard anything back and I have no trust for this bank anymore. I asked to see policy about returning payments and not being able to see the true balance with pending transactions *** why it takes so long for transactionsto go through (i paid on the 16th EARLY and got a notification on the 20th saying it was rejected), I also asked for proof that there was a policy that said simple payments were to be pending too and lady literally told me there was nothing they could find to send me. Later on i get an email saying that there WAS something wrong with the tech of this bank but nothing was done and i never recieved an acceptable apology, accountability of the bank, nor compensation for the stress my wife and i were put through. My wife has had multiple back shut downs due to what the stress has done to her bad back and health. This rejected payment caused me to have fees from my mortgage and it definitely doesnt help my credit score having a bounced back payment. All I wanted them to do was call my mortgage companyand tell them it wasn't my fault. I didn't ask for a dollar! And now the fees are adding up and I am behind on so much because I thought the mortgage was paid. This is the worst experience I've ever had with a bank.

      Business Response

      Date: 08/02/2023

      Please see the attached document.

    • Initial Complaint

      Date:07/26/2023

      Type:Product Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      Created a bank account with my passport and a picture of my face for future verification, However today after visiting a gas station and buying the same thing I buy every morning my account was frozen. I called the number provided and was told I need to send my ID scan again and my face again. Each time the system said it was not me. Nothing on my face has changed, same shave same age same hair. They are now telling me they will not accept the Passport I used to create this bank account. My money will remain frozen and they have no further steps to take and hang up. I was unable to eat today or fuel my truck to get back home from work. I did all steps provided correctly as asked but would be told things like how to smile and take a selfie when we already reached the conclusion that the system is not working correctly. They are not listening to me and reading a script of things to say but not acknowledging core issue. When they don't know what to do they hang up. My account is only a week old and has daily charges from the same gas station but for some reason I can not be told today my pizza was suspicious. I want my hard earned money removed from this terrible bank, No managers, I am told on repeat the representative is my final point of contact. Requested the Recorded conversation and was denied.

      Business Response

      Date: 07/31/2023

      Please reference the attached document.

    • Initial Complaint

      Date:07/26/2023

      Type:Product Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      This concerns a fraudulent withdrawal on 6/30. My account had $203.50 withdrawn. I was not there and did not authorize this transaction.I was at my home in Manhattan. I received a text warning about a withdrawal, and 3 text messages asking if I was withdrawing money at a several ATMs in Brooklyn, which are all within 100 feet of each other. I immediately responded with no. 1 transaction for $203.50 successfully went through and was withdrawn from my account. I immediately called SoFi to flag this as fraud and to start a dispute process.I noted the following information to the agent at the time:1. I have never been to this area of Brooklyn. I am not familiar with this convenience store, ATM or location 2. SoFi app detected this as a fraudulent transaction and blocked the 3 subsequent withdrawal requests. I have attached a screenshot of text messages from their fraud detection system catching transactions 2-4, but not the 1st.3. I have been in possession of my card during this time. I have not given this card to anyone or authorized anyone else to use it. No one else is aware of what my PIN is.I have contacted ********************** on the following occasions, to no adequate resolution.I have contacted SoFi 8 times over the previous 30 days via the phone. During the most recent conversation on 7/26, they updated the case and considered closed in favor of SoFi. I receive no information as to why, beyond a boilerplate email from SoFi. I submitted multiple reasons why this transaction was not mine, which I got no response to. I have given SoFi proof that this transaction was not mine, and that I have possession of my card. I am yet to see any evidence or documents from SoFi to substantiate their claim.

      Business Response

      Date: 08/02/2023

      Please see the attached document.

    • Initial Complaint

      Date:07/26/2023

      Type:Product Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      Sofi mailed a student loan ad to my home for a family.member who does not even live here. I tried to call the number the ad provided and it's a bogus message stating lines are busy before cutting the caller off. The number provided is **********.

      Business Response

      Date: 07/31/2023

      Please reference the attached document.

    • Initial Complaint

      Date:07/26/2023

      Type:Service or Repair Issues
      Status:
      Resolved
      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.
      Reported fraud on my account on ****** and still have not gotten a email or call from them about the statues of my claim or one saying we working on it. I know it only been a couple of days but I have money in that account that I really need to pay bills. Called and CS could not tell me anything and gave me another number to call that only take you to a voicemail. SoFi need a 24hr support like Ally to get caught up on there cases so people dont have to wait in limbo.

      Business Response

      Date: 07/31/2023

      Please see the attached document.

      Customer Answer

      Date: 08/01/2023

      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:07/25/2023

      Type:Sales and Advertising Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      I've had a Sofi banking account (under email ************************ since August of last year. In March of 2023 I received a promotion through Credit Karma to open a SoFi credit card. Once the application was completed I was approved and an account was automatically created under my Credit Karma email *********************** instead of connecting to my Sofi account. Once I realized the error I reached out to SoFi's support team to request they merge the accounts. Their support team creates a ticket to have the credit card moved to ************************ A month goes past without any word from them so I decide to reach back out. I speak with a team member and they inform me that they can close down the bank account on the *********************** account, which will allow me to open a new bank account under ********************* within two days. Once 48 hours pass I open the new bank account and my credit card account is now linked with my bank account. A week later I receive notice that my credit card has now been moved to the *********************** and my accounts are now separate again. I make a call to support to have the team move my bank account to the davisbriana account so that everything can be under one login but they tell me it's not possible. They claim that the rep that helped me prior made a mistake and they wouldn't be able to do that for me again. A ticket is created to merge the accounts again. I've been reaching out to them for two months now and no one has been able to help. One of the promotions for signing up was to receive 3% cash back on every purchase for 12 months. I haven't been able to redeem that promo because Sofi only allows you to redeem cash back at half value when your bank account isn't linked to your credit card account. They haven't offered me any redemption points or any apology for prolonging such a small issue. I would like to have my credit card moved to *********************. Please help!

      Business Response

      Date: 08/02/2023

      Please reference the attached document.

    • Initial Complaint

      Date:07/25/2023

      Type:Sales and Advertising Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      I was approved for and accepted a personal loan for $8900.00. This loan was finalized on 07/21/2023 and $8900.00 was deposited into my bank account the same day 07/21/2023. Then late Monday nite on 07/24/2023 I got a transaction notice from my bank, the entire loan of $8900.00 had been reversed from my bank account. The loan was for a new HVAC unit for my house and now I need to pay the contractor and I don't have the money anymore since it was reversed from my bank account. I've contacted SOFI several times today 07/25/2023, and they don't seem to think this is a priority. They said they might know something in 2-3 business days. The original loan still shows up on my account that I need to make payments on / even though SOFI reversed the entire amount. I never received any information from SOFI on the reversal - they just took the money with no notice. I think taking $8900 money from a customer's bank account should be a priority to fix and they are making me wait with no answers.

      Business Response

      Date: 07/31/2023

      Please reference the attached document.

      Customer Answer

      Date: 08/01/2023

       
      Complaint: 20374312

      I am rejecting this response because:  Letter only states that they are reviewing my case.  No resolution offered.

      Sincerely,

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

      Business Response

      Date: 08/02/2023

      Please see the attached document.

    • Initial Complaint

      Date:07/25/2023

      Type:Billing Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      SoFi sent me several "welcome " emails and emails asking me to Confirm my email address for my new account. I didn't open an account with ********************** and I've never had an account with **********************. Upon calling I was transferred to security as I told them someone opened an account with them in my old name and old address. The security person-********, told me there were no accounts in my name or under my address and stated it may be a "recruitment email ". I stated, "So your company, institution sends out fake emails to people welcoming them to fake bank accounts as a way to drum up business!" He stated, Yes and then asked me if I would like to open an account! No I don't want to open an account and you can bet I'm going to report you to every entity I can think of all the way up to the Feds! I stated that I wanted my information removed from their system, he stated they would and I hung up. Now I'm getting all kinds of phishing and scam emails

      Business Response

      Date: 07/28/2023

      Please see the attached document.

    • Initial Complaint

      Date:07/25/2023

      Type:Billing Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      I recently checked current mortgage rates on SoFi's website. It stated throughout the process clearly it was only a soft credit check. 48 hours later I had reports on all 3 credit bureaus that a hard check had been run. This was done without my knowledge or permission. I have evidence of the confirmation of only a soft check (screenshot during process). If SoFi does not correct this as they promised via a phone call I will take legal action against them for damages,

      Business Response

      Date: 08/02/2023

      Please reference the attached document.

    • Initial Complaint

      Date:07/24/2023

      Type:Billing Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      I HAVE NO CONTRACT WITH SOFI BANK/TBOM 546309XXXXXXXXXX PARTIAL ACCOUNT NUMBER. I DEMAND THIS ACCOUNT TO BE REMOVED FROM MY CREDIT REPORT.

      Business Response

      Date: 07/28/2023

      Please see the attached document. Thank you.

    SoFi is NOT a BBB Accredited Business.

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