Complaints

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

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  SoFi

  San Francisco, CA 94105-2624

• 

  SoFi

  2750 E Cottonwood Pkwy Ste 300 Holladay Cottonwood, UT 84121-7285

• 

  SoFi

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

• 

  SoFi

  2750 E Cottonwood Pkwy Ste 300 Holladay Cottonwood, UT 84121-7285

• 

  SoFi

  SoFI Mailroom Operations 2750 East Cottonwood Pkwy, Suite 300 Cottonwood Heights, UT 84121

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:01/14/2025

  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.

  Transaction declined due to uncollected funds 12/29/24. Balance including pending transactions on that day did not go below $686.20. My available balance the night before was $707. I made purchases knowing that I would have a $345.60 transaction for a credit card. My first call with the manager she told me I had $259.00 and my card was declined for that reason. After doing the Math to confirm she told me that at the time of the transaction I had enough money for it to not bounce. I requested them to send me the transactions that were made that day including all pending transactions on 12/31/2024. I was told it would be returned in 2 days. It has been 2 weeks. I spoke to another manager that told me something different. The last person I spoke to told me my available balance at the end of the day before was $346. My available transaction was showing $707 at the end of that day. Why is my available balance on my end showing different than their end? If it was as simple as showing the pending transactions why do I still not have those numbers? I have been given a late fee and interest due to their accounting issues.

  Business Response

  Date: 01/24/2025

  Please see referenced attachment. Final response will be sent via email. 

• Initial Complaint

  Date:01/14/2025

  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.

  On 9/24/2024 I (referee) was disbursed on a student loan refinance application in the amount of $64,059.24. I submitted an application referred from a friend. SoFi advertised a $500 referral bonus to the referrer and a $300 bonus to the referee. I was on the phone with a SoFi customer service agent who stated that I had followed all of the correct steps and that we would receive the bonus. On 12/5/2024 I called SoFi back to see the status on the bonus as neither of us had received it yet. They stated that after 90 days if the loan was in good standing then we would receive the bonus and that everything was done correctly and we should be getting the bonus soon. All payments were made on time and the loan was in good standing after 90 days. I placed a call back to SoFi customer service to enquire when we would be receiving the bonus. SoFi stated that we were not eligible for receiving the bonus, claiming we didn't use the correct referral link. I challenged them on this knowing I used the exact referral link the original customer service agent told me to use and him saying quote "Yes, you have completed all the required referral actions needed." Also when I called on 12/5, they had stated that everything looked good on their end for us to receive our bonuses. Now, whenever I call back to SoFi to get answers they continue to transfer my call to different people saying hold on while we place you on hold to look into this. If someone does come back all they say is they can't do anything for me as the loan is signed and the bonus program is automated and they can't manually override any of it. I took a slightly higher rate loan to receive this bonus so am very upset I am not getting this bonus that was advertised.

  Business Response

  Date: 01/23/2025

  Please reference the attached response. 

  Customer Answer

  Date: 01/23/2025

  
  Complaint: ********
  
  I am rejecting this response because:
  

  They have not sent any mail to me. They just said they are reviewing the case and haven’t given me an answer on my original complaint.

  
  Sincerely,
  
  Tyler K**

  Business Response

  Date: 01/30/2025

  Please reference the attached response. 

  Customer Answer

  Date: 01/30/2025

  
  Complaint: ********
  
  I am rejecting this response because: This should have been stated to me while I was completing my application. I was on the phone with a SoFi representative while filling out my application and they told me I would receive the bonus. I would not have refinanced my loan with you knowing that I wouldn't receive the bonus. Once again one of your employees stated to me that I would be receiving the bonus while reviewing my application, to me this is fraudulent if I don't receive compensation. I understand they stated this as an error now, but why should I be penalized when I was given false information from your company. All of this to get me into a loan I can no longer back out of now, as we have passed all grace periods rather conveniently from your company. I see two possible solutions to this matter from the customers point of view. Either A, receive the bonus as promised by your employees while filling out the application, or B, have the loan forgiven as they fraudulently got me to sign the loan without the compensation I stated I was going to be given.
  
  Sincerely,
  
  Tyler K**

• Initial Complaint

  Date:01/13/2025

  Type:Sales and Advertising 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.

  Filed a complaint through company that went unresponded to ********** also spent 40 minutes on the phone twice to try and resolve issue. Asked to speak with a supervisor/manager and they had no options or able to work with me or resolve any issue. Spoke with 01/08. Never had personal loan funded through my bank but their auto payment system recognized my bank so funds were returned. Every email they sent was about a refinanced student load which it was not so I believed it to be spam junk mail. Wanted to cancel loan, never received funds but they would not and had to go through process of receiving funds just to return them back except now I had to pay $298 is financial charges that could not be returned?! I didn’t want the money wanted them to just never transfer it to begin with. Multiple calls, emails also said you could reply to email but when replaying it went to a noreply@ email address so it was not going to anyone. Spoke to 6-7 people on the phone all transferring me to others and no one could resolve or even try to assist in resolving problem.

  Business Response

  Date: 01/23/2025

  Please reference the attached letter. 

• Initial Complaint

  Date:01/13/2025

  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.

  My friend refer Sofi to me, so I open a checking account with Sofi Bank. I wired $20000 from my other bank to my checking account with Sofi bank. my friend also sent me $500 from her Sofi account to my Sofi account. after that my Sofi account get resisted. Sofi already call my friend to verify those transactions. but its been over a month, my account is still restricted. i want to closed my account and i dont want any business with Sofi! i want to fund back ! Mail a check to my address. i called in customer support and noone have an answer. this is bad business and bad customer service!

  Business Response

  Date: 01/22/2025

  Please reference the attached letter.

• Initial Complaint

  Date:01/13/2025

  Type:Product 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.

  Im not sure how this company conduct dispute process but clearly they are doing something wrong im demanding a additional review this is ridiculous someone stole my sofi debit card and my ****** i was able to recover my ****** through the find my ****** app but the thief connected my sofi debit card to they ***** *** and stole 780 dollars out my account i need my money life now or ill be filing a complaint on every review site i can find this is poor customer service if this is how you treat your clients that has unauthorized charges to our accounts

  Business Response

  Date: 01/22/2025

  Please see the attached document

  Customer Answer

  Date: 01/22/2025

  
  Complaint: ********
  
  I am rejecting this response because: They are just flat out lying to customers saying they are investigating and denying all claims i want everyone to stay away from companys like this they cannot and will not keep our money safe they may be the 1s scamming people taking money out out our accounts 
  
  Sincerely,
  
  Desmond M*******

  Business Response

  Date: 01/29/2025

  Please see referenced attachment. 

• Initial Complaint

  Date:01/13/2025

  Type:Order 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 the banking institution originally emailed me to advise that my account was in negative and could be closed on January 12 2025 if not brought current Unless arrangements were made I entered into a chat with customer service around the 8th of January and advised I was concerned and was looking for options I advised I was starting a new job and would be paid on 24th of January and direct deposit would cover it all I asked if that was a sufficient resolution the representative advised me yes and not to worry the account would.not be closed once I was advised this my expectation was that would be upheld and I would be good as I did not seek alternate means like borrowing money to make the account whole on the timeliness originally provided I woke up to email yesterday the 12th saying account was closed and charged off I called and requested to speak to a supervisor as chat was unavailable for my account they refused to send me a chatlog from the previous interaction and refused my request to speak with a supervisor I was only even able to speak with a human on my 4th phone call by selecting a security option as all other options selected the call would just end and be disconnected I am.seeking a resolution and th expectation that was created to being upheld I had no issues other than this with this banking institution

  Business Response

  Date: 01/22/2025

  Please reference the attached letter. 

• Initial Complaint

  Date:01/11/2025

  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.

  I bought a plane ticket from ***************** on January 9, 2025 for $1581.86 . I was then charged again on January 11 for the same amount and put in the negative $975 as I had $568 in my account. ********************** said there was a 10 day pre authorization hold on the account from the merchant. I talk to ***************** and they said they never place holds on accounts and that my payment had already posted. Sofi gave me the same story 3 different times as i talked back and forth qith them and ***************** for hours. Sofi didn't seem to care that I have kids that have to eat and bills that have to be paid. They implied there was no one above a simple account manager I could talk to. There was no concern for the customer who did nothing wrong. This is poor customer service and poor company policy at its best. There is no common sense or resolve in this company at all.

  Business Response

  Date: 01/17/2025

  Please reference the attached letter. 

• Initial Complaint

  Date:01/10/2025

  Type:Product 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.

  It has been months since this scam company "SOFI" froze my account for supposedly violating some unknown policy which they refuse to advise me of. After telling me the account was under review after which time I would receive my funds, they reversed course and said that I am not entitled to the funds. Now the parties who issued the funds to me are waiting to be contacted to get their money back, since I have advised them that I do not have access to it. At this point I just want the issuers to get their funds back so that they and I can settle our business without involving SOFI. SOFI should not be holding onto these funds since out of everybody SOFI is not entitled to them and at this point it feels a lot like theft.

  Business Response

  Date: 01/17/2025

  Please reference the attached letter. 
  
  

• Initial Complaint

  Date:01/10/2025

  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.

  I previously banked with ************** and had a personal line of credit that was transferred to SoFi during their bankruptcy. During the transition, I did not receive any written or digital communication from SoFi about my modified loan terms and / or repayment. In 2024, SoFi sent the loan interest amount to collection, which was the first I had heard. I immediately resolved the account by paying the interest payment and continued to pay down the account in subsequent months. In January 2025, I attempted to draw down upon the line of credit; however, I was notified that I was unable to do so given a prior "past due balance." Despite raising my issue to the customer service representative and explaining the prior lack of communication, they have blocked me from further drawing down upon my personal loan. SoFi inherited a loan from another financial institution, negligently withheld important repayment information, and unjustly penalized a former First Republic client for their own mismanagement.

  Business Response

  Date: 01/17/2025

  Please reference the attached response. 

• Initial Complaint

  Date:01/10/2025

  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.

  1) My account has been restricted for approximately three weeks since December 23, 2024 when I logged on to the account to do a transaction I found out the account was restricted. On Thursday, January 02 at 10: 14 43 AM I called Sofi to ask the reason my account was restricted, they told me that they saw someone try to Zelle me. There was no Zelle transaction in my account. They told me they were going to review and get back to me. As of today I never receive any call from them and my account is still restricted. Today, Friday, January 10, 2024, at 10:04 AM I called again, and they told me they hadn't resolved it yet.2) They "Sofi" doing false a by you get $75 when you refer a friend, and they'll $25 too. I referred a friend, I shared the link with him, and he opened the account, funded and added a direct deposit. Sofi still refuses to honor the promotional offer.

  Business Response

  Date: 01/17/2025

  Please see the attached document.