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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 10 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

      2750 E Cottonwood Pkwy Cottonwd Hts, UT 84121-7284

    • Sofi Lending Corp

      PO Box 981075 Boston, MA 02298-1075

    • SoFi Finance Inc.

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

    • SoFi

      4064 Colony Rd STE 200 Charlotte, NC 28211

    Customer Complaints Summary

    • 2,306 total complaints in the last 3 years.
    • 818 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:03/09/2023

      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 signed up for the SoFi Credit Card in Aug 2022 with a $200 bonus promotion for spending $1500 in the first 3 months. I spent $1,706.99 at Homedepot.com on 09/09/2022 and paid off the entire balance on 10/07/2022. However, the $200 bonus promotion was never credited to my account.

      Business Response

      Date: 03/15/2023

      Please reference the attached document.

    • Initial Complaint

      Date:03/09/2023

      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.
      I filled a complaint last Thursday, March 2nd someone took ******* out my checking account. I filled complaint a week ago and have heard nothing this is the 2nd time in 6 months this has happened. Customer agent told me they would email me and have not.

      Business Response

      Date: 03/16/2023

      Please see attachment 

    • Initial Complaint

      Date:03/08/2023

      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.
      On the afternoon of February 28, 2023 my account was hacked and information on my account have been altered. I have no idea how they gained access to my account. I knew something was wrong when I got a text message from SoFi bank with a verification code right after that money had been transferred from my savings to my checking, and then transferred to a friend which I had no idea it was possible on SoFi Bank app. I immediately called SoFi bank and reported it once they opened the next morning. I have yet to receive any update or callback from SoFi bank. It is now Wednesday, March 8. Unfortunately, my direct deposits are still going to that bank account but nobody on SoFis team has any answers for me. I feel lost and completely abandoned. Please help Sofi. I do not want to hire a lawyer.

      Business Response

      Date: 03/16/2023

      Please see the attached document. 

    • Initial Complaint

      Date:03/08/2023

      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.
      Ok so outta no we're SoFi banking decided to freeze my account and hasn't or won't give me an opportunity to withdraw my funds I have$360 dollars froze in there it's cost me to get evicted because I wasn't able to withdraw my funds to pay rent it's been weeks and when I call they tell me they will send a check whenever they decide to finally close my account It can't be legal for them to hold my money like this.its caused so much term oil in my life caused me to be homeless I'm devistated and won't my money released

      Business Response

      Date: 03/12/2023

      Please see the attachment 

      Customer Answer

      Date: 03/12/2023

       
      Complaint: 19555312

      I am rejecting this response because: I want a more in depth answer I'm glad my money isn't a priority to them but it I's to me I want my money bk

      Sincerely,

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

      Business Response

      Date: 03/27/2023

      Please see the attached document. 

    • Initial Complaint

      Date:03/08/2023

      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.
      My Sofi Bank account has been frozen for around 2 week now. I tried calling them twice and they said they will get back to me but with no response or time frame. All my recent transactions were done directly to my business bank account from Plaid to my Novo business bank. There has no other suspicious transactions and all the transactions on my Sofi account was done by myself.They have not even replied or told me why they froze my account.. I need this money as I just began a start up and need to use this capital for it.My account information is: Name: ************* SSN: ********* Address: ********************************************************************* Phone: ************ Email: ************************** I'd greatly appreciate it if this was resolved ASAP as I need this money for my business..Thanks,*************

      Business Response

      Date: 03/17/2023

      Please see attached. 

    • Initial Complaint

      Date:03/07/2023

      Type:Order 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 has been a bank that I have loved and have gotten my entire family to join. Until recently I have been happy with their products and gotten friends and family to join. Due to the recent news that SoFi has started a lawsuit with the ***** administration to end the student loan pause, my entire family will no longer be a customer any longer.I will also harshly not recommend SoFi to anyone I speak with.SoFi claims to have a mission and values where they "put their members first". This is the farthest from the truth with the actions that SoFi has taken strictly to follow their own financial gain. I turned a blind eye to the disappointing fact that my student loan refinanced with SoFi was bought by their partner ******, a well known predatory lender. But the actions taken recently to block the student loan pause and claims that student loan forgiveness would not help is entirely false and greed oriented.My loan with Mohela/SoFi was for a school recently in the class action lawsuit Sweet Vs ***** that was settled and I will be refunded for all federal loans. It has been well known for a very long time the issues with predatory schools and lending, and I would have hoped that SoFi would have put their members first by not choosing greed. Alas I will no longer support SoFi with my family's business and will be beginning the transition of my accounts immediately.This is a very serious issue that your company has now taken a part in and the people should know that companies like you are out to take advantage of us.I ask that SoFi withdraw there lawsuit and truly "put their members first"

      Business Response

      Date: 03/15/2023

      Please reference the attached document.

      Customer Answer

      Date: 03/21/2023

       
      Complaint: 19553642

      I am rejecting this response because:

      This does not address my concern. I have attached my agreement.

      Sincerely,

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

      Business Response

      Date: 04/24/2023

      Please reference the attached document.

    • Initial Complaint

      Date:03/07/2023

      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 had my account hacked on 2/20/23 and my account was locked due to a fraud investigation. I have not been able to access my money since this day. I have received a returned check fee because I was unable to pay my Sofi credit card due to this lock. I have called multiple Sofi representatives and have been transferred between different departments and have not been able to resolve this lock. My fraud investigator, *****, and the Senior director of credit card fraud, *****************************, are unreachable. I have made multiple attempts to contact both. I need my money that *** worked for to live. Its frustrating to have to make phone calls to Sofi everyday and have no resolution. There are plenty of other businesses that will respect the livelihood of their customers and with practices like this, Im going to research my options.

      Business Response

      Date: 03/15/2023

      Please see the attached document. 

    • Initial Complaint

      Date:03/07/2023

      Type:Customer Service 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 closed my account 2/7 because I was hacked and they basically dont believe me. Its now 3/7/23 . A whole month has passed and they keep saying theyre still in process of closing my accounts. I have $200 in my checking from tax refund and theyre holding my money!! I keep getting the same excuses and no help at all. They should not be holding my money for this long! A whole month.

      Business Response

      Date: 03/12/2023

      Please see the attached document.

    • Initial Complaint

      Date:03/07/2023

      Type:Product 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.
      On February 27, 2023 I received an email informing me that my account was frozen. Without explanation my ability to withdraw funds was cancelled. I'm on a fixed Social Security income and I need money for food and bills. One week later after several calls I have not heard a single word or received any written communication from SoFi Bank. **************** only repeats the same message " The investigations Department does not tell them any details and has know outside number to call" I'm left with going to food banks begging for food while my money is frozen. I can't get medicine I need to live. The lack of communication is unnerving and complete disregard for my life is frightening and as a customer of 4 years I can't why I'm getting treated this way.

      Business Response

      Date: 03/12/2023

      Please see the attached document.

      Customer Answer

      Date: 03/12/2023

      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:03/06/2023

      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.
      Filed several disputes with a company through the bank Sofi on February 3rd. The next day was sent an email saying they were looking into it and would give me an update within 10 days. Also, that t** could take up to 90 days to come to a conclusion. They never reached out after 10 days, after several emails that go unanswered over the last month Ive grown quite frustrated with this company. Ive called numerous times as well since the initial 10 business days and been told by two employees they would reach out with regards to getting me a provisional credit in the next couple business days but that never occurred. I then get told by other service representatives that there is no credit due and I could have to wait another two months for a response. They give you the run around and lie to you to get off the phone. There is no way to speak to management or anyone from their dispute. Overall been a terrible experience, I just want my money back and to leave this bank behind.

      Business Response

      Date: 03/10/2023

      Please reference the attached document.

    SoFi is NOT a BBB Accredited Business.

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