Business Profile

Loans

SoFi

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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 2025.

Consumers are encouraged to review the following links for information on terms of service and security.

SoFi Terms of Use Agreement
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Complaints

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

Customer Complaints Summary

2,322 total complaints in the last 3 years.
777 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:10/13/2024
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 entered into a modification on a personal loan on 08/28/24. I had an amount due of $1383 due on 08/14/24. I paid the amount due from 08/14/24 on 09/12/24 (28 days after due date). Per modification my payments would be adjusted to $703 starting on 09/14 for 3 months. I paid the amount due of $704 on 10/11/24 (27 days after due date) for 09/14 payment. Sofi reported my September payment 30+ days past due. See the August and September statements, modification agreements, and payment history. They are inaccurately reporting my account past due.
Business Response
Date: 10/25/2024
Please reference the attached letter.
Customer Answer
Date: 10/25/2024

Complaint: ********

I am rejecting this response because: Sofi is unscrupulously and maliciously reporting incorrect information to the credit bureaus to cause harm.

Sincerely,

Christian S****
Business Response
Date: 11/04/2024
Please reference the attached letter.
Customer Answer
Date: 11/04/2024

Complaint: ********

I am rejecting this response because: it does not address the incorrect reporting issue per FCRA and the attached documentation.

Sincerely,

Christian S****
Initial Complaint
Date:10/12/2024
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.
I opened my SoFi account three years ago march 2021 I had direct deposit from target distribution center depositing ***** a week into my account my father in-law Mr **** bought a lawn mower and a gas powered weed eater from me but he paid with checks so I deposited them one had bounce and SoFi stop my access to my account with ****** dollars of mine still in the account for two going on three years they they held my funds would not close out the account told me I violated the contract the account build interest and everything
Business Response
Date: 10/24/2024
Please reference the attached letter.
Initial Complaint
Date:10/11/2024
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 wallet with my sofi card and other cards and personal information and PIN numbers and cell phone was stolen out my car when it was broken into when I was in the hospital and my cards was used and sofi replaced my card and disputed the transactions that was made on my account when my stuff was tooken out my car but sofi said the transactions wasnt fraud and closed the dispute the next day after I disputed it and it was never looked into I ask that my dispute be reopened and my funds to be put back on my account because my money is just gone and this is not right for my money to be tooken and nothing is done about it.
Business Response
Date: 10/21/2024
Please reference the attached letter.
Initial Complaint
Date:10/09/2024
Type:Customer Service 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.
I opened a SoFi account on 4/10/2024 under the promotion of "Get $50 bonus with direct deposit of $1,000.00 - $4,999.99 and Get $300 bonus with direct deposit $5,000.00 or more". I had over $5,000 direct deposit from my employer during the 25-day evaluation period from 4/26/2024 to 5/20/2024, but Sofi only counted $4,889.61 as direct deposit so I only got $50 bonus. I had $200 from my employer on 5/7, adding that to $4,889.61, the direct deposit is over $5,000. I should have received $300 bonus.
I have contacted Sofi on this matter many times and talked with several different agents. They submitted tickets and asked their team to tag the $200 as direct deposit. I was asked to wait patiently, "with your patience for another two weeks we should be able to resolve this", "it will take 1-2 pay cycles to code correctly", "we will let you know via email for any updates". Nothing happened. I only received one email during all this about I don't have $5,000 direct deposit on 10/1/2024.
At this point, I'm done with wasting my time on this issue with them. Please contact them and issue me the $300 bonus.
Business Response
Date: 10/18/2024
Please see the attached document
Customer Answer
Date: 10/23/2024
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,

Zhiping Y**
Initial Complaint
Date:10/08/2024
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.
On Oct 4th 2024 I was robbed of $2,000. The perpetrator forcefully got in my car without consent, had a truck follow us and made me pull over on the side of the road, snatch the phone out of my hand and made me ***** him twice for a $1000. I filed a police report and gave SoFi all the information regarding Oct 4th events. On Oct 8th they told me my disputes were denied and now I’m not able to provide for me and my family because that was all the money I had left. I have rent to pay and my son who has autism needs to eat.
Business Response
Date: 10/18/2024
Please reference the attached letter.
Customer Answer
Date: 10/25/2024

Complaint: ********

I am rejecting this response because: I asked them person who I was communicating with via chat on how I can send a copy of the policy report and I wasn’t gave proper instruction and for it to be an investigation and that’s all you needed to do further digging then I should’ve been notified about that instead of just closing the case completely. To me as a current customer that just makes me feel like there was very little effort put in to this investingaton. If there was real effort then you would’ve known I was robbed in person and not someone that hacked me online so there wouldn’t be any login attempts from another device because it happened from my own phone. I explained all of this in detail. Really makes me feel like no one at the company cares at this point and I shouldn’t have to be on the Better Buisness Bureau putting in a complaint if that’s so called all you needed. So I will be responding to both emails with a copy of the police report with a phone number to contact on there!!! Hoping to having my issue resolved. Also my ***** doesn’t work anymore so I don’t know if that was cut off because of the investigation or what.

Sincerely,

Devon H***
Business Response
Date: 11/06/2024
Please reference the attached letter.
Initial Complaint
Date:10/07/2024
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 opened a checking and savings account with SoFi. In part of the “Promotion” if I set up direct deposit, and deposited over a certain amount within 25 days I would receive a 300 dollar welcome bonus. Well after my initial deposit of over 9k, I never seen the welcome bonus, so I live chat on the site, the representative told me that I didn’t have direct deposit set up so I scanned and sent her my stub showing direct deposit. She created a ticket and said it would be resolved because it was coded wrong. Well second check now comes in through direct deposit and I am still not seeing my welcome bonus in my account. So I live chat again to be told yet again I do not have direct deposit. Same song and dance as the first time. I send my second stub, stating direct deposit. She says it’s not coded correctly. So today after a two hour wait to talk to someone, I explain everything I just typed here and she says that my first two deposits won’t count toward direct deposit even though my stubs say they are. We argued about it and the representative was nasty. Saying that in another 2 months I will receive a lesser amount even though I met the criteria on my very first direct deposit. I feel the advertising is deceptive and I am owed my money because not only did I meet the criteria in my first 25 days, I far surpassed it. And how can any financial institution expect 120 days to be acceptable in any banking transaction? I feel that this institution has committed fraud against me. Me sending my first two stubs that both clearly state direct deposit should have resolved this issue. I’m still not even allowed to ***** my own money because it still says I don’t have direct deposit set! This is unethical and needs to be resolved asap. I disabled and retired and my months left on this earth shouldn’t be dealing with fraud
Business Response
Date: 10/17/2024
Please reference the attached letter.
Initial Complaint
Date:10/07/2024
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.
Sifi website showed up a promotion for $300 for opening an account and set up direct deposit. See attached on the up right corner of the page. It is very hard to get the fine print on the promotion that reqire total $5000 for the first two direct deposits. At the moment, my first direct deposit has a smaller than my normal pay due to the extra tax withholding. Since then my normal monthly direct depost > $5000 has completed. Sofi insists that I did not meet the requirement so denied the $300, instead only $50 was giving.SoFi should remove that $300 pop up from the website, instead, should make it clear on the requirement for the promotion team of $50 to $300.

I have to do a lot of work to move all my bill pay to SoFi so I want my $300 bonus.
Business Response
Date: 10/17/2024
Please reference the attached letter.
Customer Answer
Date: 10/17/2024

Complaint: ********

I am rejecting this response because:
the business did nothing to reply to my concerns. Just say it values my feedback.

Sincerely,

Xue L***
Business Response
Date: 10/21/2024
Please reference the attached letter.
Customer Answer
Date: 10/23/2024

Complaint: ********

I am rejecting this response because:
SoFi puts $300 as the bonus on website, plus a small fine print on the condition. Who is going to read a very fine print for a promotion? What everyone reads into the pop up is you will get $300 bonus by direct deposit your pay check! Which I did the following month, not counting the first deposit, my total is way beyond $5000 for the qualification. SoFi instead, should put $50 as a bonus, with a small printing indicating you will get more if first two direct deposit amount is $5000 or more. This way, there should be no surprises to consumer and everyone will be happier.
the complaint is for bait and switch advertising practices that’s should be stopped.

Sincerely,

Xue L***
Initial Complaint
Date:10/07/2024
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.
I have a personal line of credit from SoFi that was rolled over from ***** ********. On 7/22, the loan converted from the draw period to the repayment period. I have auto pay on the account, and on 8/22, SoFi twice deducted the payment of $1,166.52 rather than taking a single payment. All of the second payment went towards reduction of the principal. I have not been able to get in contact with the company to resolve the issue.

Earlier this year, I had a similar issue with the company and had to follow up for months to get it resolved.

Separately, there is also no way for me to change the address on the account as when the loan was moved over from ***** ********, an outdated address was ported over.
Business Response
Date: 10/16/2024
Please reference the attached letter.
Customer Answer
Date: 10/16/2024

Complaint: ********

I am rejecting this response because: I responded to the message sent to me by SoFi to refund the payment. I have gotten no response for 4 days and you are saying I never responded. Email attached.
My asks (1) Refund the double payment - you illegally debited my account (2) Fix the address to **** ******** **** ********* ** ***** (3) Explain why this happened.

Sincerely,

Steven G*******
Business Response
Date: 10/22/2024
Please reference the attached letter.
Customer Answer
Date: 10/22/2024
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,

Steven G*******
Initial Complaint
Date:10/06/2024
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.
I was not helped with my rebuttal, in away easy way for my hearing lost, etc . It was my social security check. I was left to go hungry and without meds . Or rent money etc
Business Response
Date: 10/16/2024
Please reference the attached letter.
Initial Complaint
Date:10/03/2024
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.
Ive been banking with Sofi for a while now and I even had my daughter open an account because it will help her keep track of her finances and credit. Ive had several disputes over the years but the dispute I just filed because my account was hacked and I lost 290 dollars. I do use ******* a lot so there will be transactions from them. But the 290 was not one of them. Sofi denied my dispute and basically telling me to just except the loss. Im a single disabled mother and cant afford to just give my money away.
Business Response
Date: 10/11/2024
Please reference the attached letter.

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SoFi is NOT a BBB Accredited Business.