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
07/11/2024
- Complaint Type:
- Billing Issues
- Status:
- Resolved
They told me they would cease all contact and yet have kept emailing me and sending me letters. There are recorded calls of them telling me i have no account with them anymore and will not be contacted.Business response
07/20/2024
Please reference the attached letter.Customer response
07/20/2024
Complaint: 21977546
I am rejecting this response because: This has happened too many times as well as an account being opened by the SoFi team in my name without my consent! They want to harass and commit fraud! I demand some kind of financial compensation
Sincerely,******* *****
Business response
07/27/2024
Please reference the attached letter.Customer response
07/29/2024
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,
******* P****Initial Complaint
07/10/2024
- Complaint Type:
- Billing Issues
- Status:
- Answered
Sofi continual screws up my account and causes me fees and however they say they will pay they NEVER do even from previous complaints. I had an ach transfer from *********** for ***** and they rejected it for insufficient funds but at the time of rejection there was 375 in the account. And once I reached out they informed me they rejected nothing. I want to be reimbursed for 300 for what they own me now and previously that they still havent paidBusiness response
07/19/2024
Please reference the attached letter.Initial Complaint
07/10/2024
- Complaint Type:
- Billing Issues
- Status:
- Answered
I tried to access my deposit account using the phone app, but it indicated I it was restricted and I needed to call. I called and talked to **** in account security at around 9:21 AM on July 10th (I was informed the call was recorded so it should be available for review). **** did not provide any usable information at all: he did not inform me why it was restricted, for how long it will be restricted, not even an approximate time when I could call back. I've had problems with this bank before and don't understand why I cannot access this account. I want help to access my money (transfer it to another account) and to close this account immediately. I would also ask that the BBB investigate this institution since I've never had problems like this before. I can provide you with my account details, but only if I can provide it to you in a secure manner. My name and address should be enough to identify me as their customer.Business response
07/19/2024
Please reference the attached letter.Initial Complaint
07/10/2024
- Complaint Type:
- Product Issues
- Status:
- Answered
On 11 June 2024, we wrote Check #*** from our SoFi Money checking account ending in 7453 payable to ******************* Floral for the amount ******* USD. The check was paid to order flowers for our wedding on 13 July 2024. We mailed the check to ******************* Floral on 11 June 2024.On 14 June 2024, we received the image of the deposited check on the SoFi app. The payee of the check was altered to read *******************. The back of the check was endorsed by *******************. First, we called **************************, who informed us that they had not received the check. We immediately filed a dispute on the phone with SoFi customer service. The agent informed us that we would receive a provisional credit within 10 business days. On June 18, 2024, we submitted a signed, notarized affidavit through the SoFi secure message portal. As of this writing, the dispute remains unresolved, and SoFi has not provided guidance on when our stolen funds will be returned. We have called multiple times per week over the past four weeks, and different agents have given us different responses as to when the stolen funds will be returned. One agent told us 14 days. Another told us 21 days. An email from SoFi support said up to 21+ days, which indicates to us that SoFi has no timeframe within which this situation will be remedied.This ordeal has been incredibly frustrating and has made what was supposed to be a joyous time into one marked by stress, aggravation, and anxiety. A substantial sum has been stolen from us out of SoFis account and in multiple conversations, the bank has not communicated any urgency or earnestness in resolving the matter. We made the decision to entrust our savings with SoFi Bank; the non-interest and heedlessness of the dispute team, coupled with the unreliability of the customer support experience, has led us to fear that that trust has been misplaced.Business response
07/19/2024
Please reference the attached letter.Initial Complaint
07/09/2024
- Complaint Type:
- Billing Issues
- Status:
- Answered
On 06/18/2024 a transfer was made from my account to a *********************** in the amount of $1,000. THis is fraudulent and a report was made to Sofi and the police department. I did not authorize payment to ***********************.Business response
07/16/2024
Please see the attached document.Customer response
07/17/2024
Complaint: 21961341
I am rejecting this response because:
Sincerely,
*****************************Business response
07/19/2024
We have responded to this complaint previously, and no new information has been provided by the consumer.Initial Complaint
07/08/2024
- Complaint Type:
- Billing Issues
- Status:
- Answered
According to 15 U.S.C 1681s-2(a)(1)(A) and (B)to report inaccurate informationPlease DELETE this information from my credit report, pursuant to section 611 of the Fair Credit Reporting Act, 15 U.S.C. 1681i, and send the required notifications to all furnishers of this information.Section FCRA 611(a)(6)(B)(iii) and (7) of the Fair Credit Reporting Act, 15 U.S.C. 1681i, and send the required notifications to all furnishers of this information. Fair Credit Reporting Act, 15 U.S.C. 1681s-2 Section 623(a)(8)(D) Section 603(p), must notify consumers in writing if they may furnish or have furnished negative information to a CRA. Section 623(a)(7).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 1681b(1) the credit bureaus dont have no written permission. According to 15 USC 1681 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 1681 I have the right to privacy According to 15 USC 1681s-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. Inaccurate Information on my credit report is causing me financial distress SOFI BANK Amount:$86915 Date:4/4/2024 Acct#*********Business response
07/15/2024
Please reference the attached letter.Initial Complaint
07/08/2024
- Complaint Type:
- Billing Issues
- Status:
- Answered
Deceptive hiding of their actual interest rate for their high yield interest savings account it's actually only 1.2% and not their advertised 4.6%Business response
07/13/2024
Please reference the attached letter.Initial Complaint
07/08/2024
- Complaint Type:
- Billing Issues
- Status:
- Answered
Facts:On April 13, 2024, Consumer disputed a transaction in the amount of $290.17 due to non-delivery of goods, following the merchant's dispute instructions.SoFi Bank failed to provide a provisional credit as outlined in Section F, pages 36 and 37 of the SoFi Bank Deposit Agreement, and did not complete an investigation within the 90-day timeframe stipulated in the agreement.On July 1, 2024, SoFi Bank placed a hold on $41.09 for a transaction with ******** Monterey Fuel. Despite confirmation of release from ******** Monterey Fuel, SoFi Bank refused to release the funds within the allotted 7-day window and provided misleading information regarding the merchant's actions.Causes of Action:Breach of Contract: SoFi Bank failed to adhere to the terms of the SoFi Bank Deposit Agreement by not providing a provisional credit and completing an investigation within the specified timeframe.Damages: Consumer suffered financial harm due to the withheld funds, totaling $331.26.Business response
07/17/2024
Please reference the attached letter.Initial Complaint
07/08/2024
- Complaint Type:
- Billing Issues
- Status:
- Answered
I was a approved for a credit card mid June and did not receive it in the mail. When I asked for it to be sent express without the fee of 25 dollars I was given the run and by taylesha. Please do not charge me the 25 dollar fee.Business response
07/17/2024
Please reference the attached letter.Initial Complaint
07/07/2024
- Complaint Type:
- Product Issues
- Status:
- Answered
I accidentally made my personal loan payment twice. I was initially promised a refund and was then denied. I pleaded my case, and was shown absolutely no compassion. Also literally no one from sofi called or emailed me as promised when my requests had be denied.Business response
07/17/2024
Please see the attached document.
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Customer Complaints Summary
1,953 total complaints in the last 3 years.
954 complaints closed in the last 12 months.