ComplaintsforSoFi
Additional Complaint Information
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/
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Complaint Details
Note that complaint text that is displayed might not represent all complaints filed with BBB. See details.
Initial Complaint
02/23/2022
- Complaint Type:
- Product Issues
- Status:
- Answered
I have been trying to open a Sofi Money account for a long time, and I didn't have any current Sofi Money account, but it stopped me from opening one every time. I had talked to customer care many times they confirmed that the account is closed, but it just doesn't allow me when I try to open one.Business response
03/03/2022
Please see the attached document.Customer response
03/04/2022
Complaint: 16798156
I am rejecting this response because I received an email that the issue is fixed.I am still unable to open a Sofi Money account and I don't have any existing checking/ savings account opened with them.
Sincerely,
***********************Business response
03/16/2022
Please see attached document.Initial Complaint
02/22/2022
- Complaint Type:
- Service or Repair Issues
- Status:
- Resolved
SoFi has locked my money account due to supposed "fraudulent activity" after I phoned in to simply add my SoFi credit card to ****** Pay. They had my old phone number on file with the credit card after I updated my SoFi profile with a new phone number so the customer service agent had to contact their security to see why the account wasn't updated after I changed the number via the app.They locked my account that following morning. Not my credit card but my MONEY account with all my finances. I called the number they provided for inquiries, but you're only allowed to leave a voice mail. I called the account customer support to speak to a human, and they told me I simply have to wait for one of their security team members to call me. Meanwhile all my money is frozen. I asked her if I was not supposed to be able to buy food or eat and she replied, "yes sorry for the inconvenience." A complete joke of a company. Do NOT give them any of your money. They can lock it and essentially steal it from you for literally any reason then not allow you to speak to anyone. The only "fraud" protection you need is from SoFi themselves.Business response
03/04/2022
March 4, 2022
Better Business Bureau
1805 *****************************, Suite 100
******, ** 78754
RE: Better Business Bureau Case # ********; *********************
To whom it may concern:
We are in receipt of your letter received February 22, 2022 regarding the above referenced individual. We are reviewing the customers concerns and sending a response directly to the customer with a disclosure consent form. Upon receipt of the signed disclosure consent form from the consumer, we will forward a copy of the response to your office.
Please do not hesitate to contact our office if you have additional questions or concerns.
Thank you.
Customer Relations
**********************Customer response
03/05/2022
Complaint: 16797298
I am rejecting this response because:
Just have your security team call me and unlock my account! It's already been almost two weeks I'm not willing to wait for some snail mail form from your office. I've left countless messages with your fraud department with ZERO call back when I was told it would take ***** hours! This is absurd just CALL ME!Sincerely,
*********************Business response
03/16/2022
Please see the attached document.Customer response
03/16/2022
Better Business Bureau:
I have reviewed the response made by the business in reference tocomplaint ID ********, and find that this resolution is satisfactory to me.
Sincerely,
*********************Initial Complaint
02/22/2022
- Complaint Type:
- Product Issues
- Status:
- Answered
Initially, approx 2 months ago, Sofi aka ******* Money by Sofi denied my direct deposit. Information was correct by myself and the employer. In my 40 years, I've never encountered anything of the such. In turn I have to physically be over nighted a check or **** aka snail mailed a paper check. In turn, then electronically submitted. In fine print it actually states " a check " can take up to 5 business days I've had checks from the same company actually take longer. Some as long as 7 days. I've called previously to try to cancel and physically go cash my paper check. In a pending status, NO CSR can help, will help or try to help in the matter. It's It's year 2022, NOT **** AND NOTHING SHOULD TAKE THAT LONG! LET ALONE, hold someone's deposit or money for said amount of time leaving them with no actual way to survive!!!!!! People depend on that money! Yet the RUDE, ***** and very idiotic CSR or supervisors I've personally encountered need some real and legitimate training as to the legalities of hold peoples money with zero repercussions within electronic entities. You wanna be a banking service then act as such. Provide as such! Again. This isn't **** and things should have means or ways of a quicker or more direct route. It's quite embarrassing really and it puts real people in binds!Business response
03/04/2022
March 4, 2022
Better Business Bureau
1805 *****************************, Suite 100
******, ** 78754
RE: Better Business Bureau Case # ********; ***************************
To whom it may concern:
We are in receipt of your letter received February 22, 2022 regarding the above referenced individual. We are reviewing the customers concerns and sending a response directly to the customer with a disclosure consent form. Upon receipt of the signed disclosure consent form from the consumer, we will forward a copy of the response to your office.
Please do not hesitate to contact our office if you have additional questions or concerns.
Thank you.
Customer *********************************** Securities LLCInitial Complaint
02/21/2022
- Complaint Type:
- Product Issues
- Status:
- Resolved
On January 7, 2022 I received an email from ****** ******* notifying me that 2 credit reports has been run on me. I logged into my account and saw the inquiries from SOFI and immediately contacted them. At the time I was told that the accounts, there are at least two of them, would be put on hold and investigated by the fraud department and someone would be in contact with me. On January 20, 2022 I called SOFI again because I had never been contacted by anyone, I was once again told that it was being investigated, I had asked to speak with someone and was told that there was no one on site that I could speak with but I could leave a voice mail and someone would get back with me, as of today I still have not received a phone call, letter, or email from them. I have sent two emails (1/25/22 and 2/8/22), I have also sent letters via ******* *******, **** first class mail, and **** certified mail. As it turns out I have been the victim of identity theft. SOFI is the only company that has not spoken with me to resolve this matter, the other companies immediately closed down the accounts and or applications and removed them from my credit report. All I want is for any and all accounts in my name to be closed and removed from my credit report along with the inquiries.Business response
03/03/2022
March 03, 2022
Better Business Bureau
**** ********** ***** ***** ***
Austin, TX 78754
RE: Better Business Bureau Case # ********; ******* ********
To whom it may concern:We are in receipt of your letter received February 21, 2022 regarding the above referenced individual. We are reviewing the customer’s concerns and sending a response directly to the customer with a disclosure consent form. Upon receipt of the signed disclosure consent form from the consumer, we will forward a copy of the response to your office.
Please do not hesitate to contact our office if you have additional questions or concerns.
Thank you.
Customer Relations
SoFi Lending Corp.Customer response
03/07/2022
Better Business Bureau:
I have reviewed the response made by the business in reference tocomplaint ID ********, and find that this resolution is satisfactory to me.
Sincerely,
******* ********Initial Complaint
02/21/2022
- Complaint Type:
- Billing Issues
- Status:
- Answered
Applied for credit card that had a $100 sign up bonus, never received the bonus after multiple calls. I had a supervisor say it will be added and it never was. I stopped trying to get it resolved because they gave me a runaround.Business response
03/01/2022
Please see attached our response to complaint ID: ********.Customer response
03/02/2022
Complaint: 16790146
I am rejecting this response because: no resolution has been made. I will await SoFi's response once I sign the form they mentioned in their response to BBB.
Sincerely,
*******************************Business response
03/08/2022
March 8, 2022
Better Business Bureau
1805 *****************************, Suite 100
******, ** 78754
RE: Better Business Bureau Case #********; *******************************
To whom it may concern:
We are in receipt of your letter received March 3, 2022 regarding the above referenced individual. We are reviewing the customers concerns and sending a response directly to the customer with a disclosure consent form. Upon receipt of the signed disclosure consent form from the consumer, we will forward a copy of the response to your office.
Please do not hesitate to contact our office if you have additional questions or concerns.
Thank you.
Customer Relations
**********************Customer response
03/09/2022
Complaint: 16790146
I am rejecting this response because:The company's response to me showed unwillingness to get the issue resolved. They are neglecting the fact I saw the promotion before applying, their point is that it was expired in which I do understand; however, the promotion was still on their website at the time I applied so it was a bit misleading. They are refusing to understand my point and it seems like this will just go on in circles.
Sincerely,
*******************************Initial Complaint
02/19/2022
- Complaint Type:
- Billing Issues
- Status:
- Answered
My account was frozen two days ago with no explanation of why. The numbers I was given through an email won't return my calls and I have money in my account. I use this account to invest and pay bills, and due to my account being frozen, I can no longer even afford to eat. My phone has been cut off. I need access to my money ASAP for my son!Business response
02/25/2022
February 25, 2022
Better Business Bureau
1805 *****************************, Suite 100
******, ** 78754
RE: Better Business Bureau Case # ********; ***************************
To whom it may concern:
We are in receipt of your letter received February 19, 2022 regarding the above referenced individual. We are reviewing the customers concerns and sending a response directly to the customer with a disclosure consent form. Upon receipt of the signed disclosure consent form from the consumer, we will forward a copy of the response to your office.
Please do not hesitate to contact our office if you have additional questions or concerns.
Thank you.
Customer *********************************** Securities LLCInitial Complaint
02/18/2022
- Complaint Type:
- Sales and Advertising Issues
- Status:
- Answered
I recently found out that a fraudulent loan was opened in my name. The lender is SoFI. I have contacted their Fraud Team over and over. When I leave a message with my name and number, they called back, but only to make sure they hung up before I could answer. I have left MANY messages. I want to talk to someone directly and CONFIRM that this loan will be removed from my credit report. When I spoke with their customer service agent (NOT the fraud team that I was told would contact me). They would not tell me where the funds had been sent for the loan that was in my name. Yet, they had me verify my information. They should be angry and concerned that someone is opening fraudulent loans with them, yet they have not expressed any concern whatsoever. I am concerned that they will not take the proper steps needed for this to be removed from my credit report.Business response
02/25/2022
Please reference attached document.Customer response
02/26/2022
Complaint: 16782667
I am rejecting this response because: there has been no resolution and I have not been directly contacted or responded to by them.
Sincerely,
***************************Business response
03/04/2022
Please reference the attached document.Initial Complaint
02/17/2022
- Complaint Type:
- Product Issues
- Status:
- Answered
I literally referred over 20 people and yet I've only been paid for 5. I've made several attempts to try to talk to somebody and they will not help . Filed several tickets and they tell me something different every time. I'm sick of it!Business response
02/24/2022
Please see attached our response to the complaint under the above named file number.Customer response
02/25/2022
Complaint: 16777858
I am rejecting this response because:
They never sent me anything. Now my sofi debit card isn't working and my money account that I upgraded to their banking feature is not accessible either.
Sincerely,
*************************Business response
03/04/2022
Please see attached documentationInitial Complaint
02/17/2022
- Complaint Type:
- Billing Issues
- Status:
- Answered
My account has been froze for months. They only provide a number to leave a message on. I've left multiple messages and still have yet to receive a reply. I have $23 dollars and some change that I cannot get to on my SOFI account because it's froze and nobody is doing anything about it.Business response
02/23/2022
Please see the attached document.Initial Complaint
02/12/2022
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
I have been using SoFi since September 2021, the beginning of the time I started using the app I was getting the referrals and points for the referrals as well, after a few weeks I stopped getting the points and the app was just telling me that I was getting clicks on my link. Ive reached out to SoFi support and they told me that everything was good on my end they werent understanding why the points were not coming in anymore. They have yet to fix the issue Ive had multiple **************** members sign up using my link and never got the referral rewards for them. Hoping this problem can be resolved they are promoting this app stating ***** points for referrals and I havent been getting any as of last year.Business response
02/18/2022
February 18, 2022
Better Business Bureau
1805 *****************************, Suite 100
******, ** 78754
RE: Better Business Bureau Case # ********; ***********************
To whom it may concern:
We are in receipt of your letter received February 12, 2022 regarding the above referenced individual. We are reviewing the customers concerns and sending a response directly to the customer with a disclosure consent form. Upon receipt of the signed disclosure consent form from the consumer, we will forward a copy of the response to your office.
Please do not hesitate to contact our office if you have additional questions or concerns.
Thank you.
Customer Relations
**********************
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Customer Complaints Summary
2,010 total complaints in the last 3 years.
939 complaints closed in the last 12 months.