Business Profile

Loans

SoFi

Headquarters

This business is NOT BBB Accredited.

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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

Customer Complaints Summary

2,323 total complaints in the last 3 years.
816 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.

Initial Complaint
Date:06/23/2022
Type:Customer Service 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 bought shares in sofi *9) in may * cant remember the exact date ) it was around the 31st. When I awoke the following day , I had my account frozen for suspicion of fraudulent activity * I can assure you / them it wasnt ) I understand if they want to close the account down or take precautionary measures. But things turn sour when I cant reach the customer support & security/fraud prevention team. Ive been calling and sending emails for *********** almost impossible to get in touch with someone from sofi who can actually help to even just give me answers. Again I know how *********** can be , especially in the midst of a pandemic. But I just need help clarityI need to know if I can get the money I invested into the company back * I bought shares on the sofi app ) or can I get the account back? I didnt want to reach out to the BBB to file a complaint but Ive tried several times prior up to today to reach them with each time being a failure to do so.So the problem Is communication. & frozen funds I cant access.Ive added a photo of proof I own shares of the company. Im a loyal customer and I just want answers.
Business Response
Date: 06/30/2022
Please see the attached document.
Customer Answer
Date: 07/01/2022

Complaint: 17467373

I am rejecting this response because: it doesnt answer the questions or help. I still cant withdraw my invest money and I still cant reach support. What do I do now?

Sincerely,

*******************************
Business Response
Date: 07/06/2022
Please see the attached document.
Initial Complaint
Date:06/23/2022
Type:Order Issues
Status:
ResolvedMore 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.
Sofi recently ran a promotion partnering with the life insurance company "Ladder". The deal was, sign up for ************** and earn 10k ($100) rewards points. I read through the rules in the email, and everything sounded good. I proceeded to sign up and make my payment. After not being credited, I contacted support and at first I was told because the program only applied to customers who have a Sofi Invest account. I told the agent this was not in the email terms to which they asked for a screenshot. After reviewing the screenshot I was then told it was denied because I didn't make the payment via a Sofi direct debit or debit card, again I told the agent that this was not in the rules stated and they said it was in the "Full terms" (not in the email). Sofi has a discreet list of rules in the promotional email they send you which leads you to believe if you follow those, then you've met ALL the qualifications. However, to deny customers who they know ****% won't go out of their way to find additional possible rules in the official terms and conditions has a convenient and hidden "out" to deny customers payment if they desire to do so.If Sofi has a list of rules that must be followed to qualify they should list ALL of the rules in the email or none of the rules in the email and direct the user to the full terms and ********************************* needs to honor this deal and not hide behind a weird clause buried in the terms.
Business Response
Date: 06/30/2022
Please see the attached document.
Customer Answer
Date: 06/30/2022
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.

They ultimately paid the money as promised. Thank you so much for you help.

Sincerely,

***************************
Initial Complaint
Date:06/23/2022
Type:Customer Service 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 simply want my Sofi profile canceled but have not found away to get ahold of there customer service.
Business Response
Date: 06/30/2022
Please see the attached document.
Initial Complaint
Date:06/23/2022
Type:Billing Issues
Status:
ResolvedMore 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.
My husband and I both had a hard mortgage inquiry pull to our credit from Sofi.While we initially did give consent to pull the credit, the loan officer verbalized on the phone right after applying that the credit would NOT be pulled as a result of no products matching our needs. Then, our credit was randomly pulled two weeks later without our consent.I'm just wanting SOFI to do the right thing here and communicate with CREDCO to remove the hard pull from both my and my husbands credit reports.After some back and forth, on February 7, 2022, we got this note from our loan officer:My agent processed the inquiry removal on the 31st. Credco has informed us in the past that they usually need a couple days to process each request; from there, the credit bureaus usually need another 1-2 days.In other words, the inquiry should no longer be on the member's report, provided a fresh copy is pulled.A few months have gone by and it's still on our credit report. After checking back in with the loan officer, she acted like this never happened and won't follow-up with anyone to get a status check, saying nothing else can be done. What changed from when you sent me this on February 7th to now? She never followed-up.
Business Response
Date: 07/01/2022
Please see the attached document.
Customer Answer
Date: 07/02/2022
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:06/22/2022
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.
An account with my work email address and my public information was set up as an investment account. From what my bank can tell, the money is not actually my own, and the account was set up with a phone number that was not mine.I was able to get into the account and change the information so that it is multi-factor locked to my work number, but even after contacting Sofi about the scam, nothing has been done and the account remains open. I continue to get emails regarding it and have set up my own fraud alerts with credit bureaus.
Business Response
Date: 06/29/2022
Please see the attached document.
Initial Complaint
Date:06/22/2022
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've been using Sofi banking for the past couple years on different occasions money has been taking from my account Sofi usually only a few dollars here and there and they will claim it was a pending charge that just settled when in reality they charged me twice well on 6/9 ***** was taking from my account supposedly sent to my PayPal account which never made it & all though I've have confirmation proof from PayPal stating they snatched the money back as well **** confirmation from Sofi customer service chat that something went wrong and they took the money back but it wasn't placed into my account they are refusing to settle the matter they keep saying a department has to work on it and we don't know how long that can take
Business Response
Date: 07/01/2022
Please see the attached document. Thank you.
Initial Complaint
Date:06/22/2022
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.
SOFI IS MY MONEY CHECKING ACCOUNT. I HAVE DIRECT DEPOSIT SET UP WITH SOFI FOR MY BI*WEEKLY ********* PAYMENTS I RECIEVE. RECENTLY I HAD 3 CHARGES FROM APPLE I DID NOT MAKE SO I CALLED APPLE AND THEY CREDITED THE MONEY BACK TO MY SOFI ACCOUNT A TOTAL OF $18. I LOG INTO MY SOFI BANKING APP AND THERES A MEMO ABOVE MY BALANCE STATING MY ACCOUNTS IS FROZEN, ITS BEEN FROZEN FOR 1 WEEK NOW, I BEEN CALLING SOFI FRAUD PREVENTION 4/5 TIMES DAILY LEAVING MESSAGE AFTER MESSAGE AND NOBODY EVER CALLS BACK, I GUESS THERE ALL OUT TO LUNCH. SO AS IT STANDS MY ACCOUNT REMAINS FROZEN, I HAVE NO ACCESS TO MY FUNDS, SOFI DOES BUT I DONT. HUGE INCONVENIENCE FOR MY FAMILY! HERES THE KICKER- A FREEZE MEANS NO ACCESS NO ACTIONS. THEY ARE STILL TAKING MY DIRECT DEPOSIT PAYMENTS.
Business Response
Date: 06/29/2022
Please see the attached document.
Initial Complaint
Date:06/21/2022
Type:Billing Issues
Status:
ResolvedMore 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.
SoFi illegally created a checking account in my name and obtained my information fraudulently. They sent a debit card to my home address with a sticker demanding that I activate the card. They won't respond to how or who created the account, when the account was created, and they refuse to transfer me to their fraud team to have this account removed. I cannot login to this account to obtain the account number. Their system requests a ******* verification code. However, none is ever sent to my phone. I am stuck in this infinite loop of nonsense. What they are doing is highly illegal and needs to be stopped immediately. To be clear - I never have ever contacted SOFI for any business. They have obtained my information illegally and should be punished and shut down. They are committing fraudulent activities.
Business Response
Date: 06/29/2022
June 29, 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 June 21, 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 ***************************************** N.A.

Customer Answer
Date: 07/03/2022
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:06/21/2022
Type:Billing Issues
Status:
ResolvedMore 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.
We have been the victims of Identity Theft. We live in East *****, but someone in *********, ******** has stolen one of our identities and has made fraudulent transactions on our SoFi Money Account # ending in ****. It has been very difficult to get any assistance from anyone at SoFi with replacing the funds that were stolen from our account. We have left approximately 15 voice mail messages with the Member Security team with 0 (zero) calls returned. We have had hours worth of conversations with customer service with only modest success. We have been on a circular journey of emails with little progress. The fraudulent transactions were limited to 3 merchants in *********, ********: 7-ELEVEN, FOOD LION #**** 232 TI, and MARATHON PETRO95984. The dates of the fraudulent transactions were limited to 3 dates: 5/16/22, 5/24/22, and 5/27/22. The total of the transactions is approximately $1100.00. We notified SoFi immediately after the 5/16/22 transactions appeared in our account and SoFi's response was to issue us another debit card. We activated the new card on 5/24/22 and within hours of the new card being activated, new fraudulent transactions appeared in the account. We immediately notified SoFi and we were told that we were victims of an "Account Takeover" and the account was "Frozen" at that time. However, ANOTHER fraudulent transaction was posted to our account on 5/27/22. We immediately notified SoFi and were given the explanation that the account "wasn't frozen correctly" and the additional fraud was allowed to occur. Since then only a few of the fraudulent transactions have been credited back to our account. We just ask that the remaining transactions be credited back to us. They are very obvious on the account - they are all in *********, ** - we live in *****. We can't be in 2 places at the same time. Please help us get the remaining fraudulent transactions credited back to our account. Thank you.
Business Response
Date: 07/01/2022
Please see the attached document.
Customer Answer
Date: 07/01/2022
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:06/20/2022
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.
My SoFi banking account has been frozen for over a month. I have tried calling the number provided several times, no one answers or returns the call. I have left numerous voicemails and no one has attempted to contact me. I have money in this account and I just want my money and to close the account.
Business Response
Date: 06/26/2022
June 26, 2022
Better Business Bureau
1805 *****************************, Suite 100
******, ** 78754

RE: BBB Case #********; *******************

To whom it may concern:

We are in receipt of your letter received June 20, 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 ******************************************* N.A.,

Customer Answer
Date: 06/26/2022

Complaint: 17450170

I am rejecting this response because:
I was not sent a form
Sincerely,

*******************
Business Response
Date: 07/03/2022
July 3, 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 June 26, 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 ***************************************** N.A.

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SoFi is NOT a BBB Accredited Business.