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Business Profile

Loans

SoFi

Headquarters

This business is NOT BBB Accredited.

Find BBB Accredited Businesses in Loans.

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

Find a Location

SoFi has 9 locations, listed below.

*This company may be headquartered in or have additional locations in another country. Please click on the country abbreviation in the search box below to change to a different country location.

    Please enter a valid location.

    • SoFi

      San Francisco, CA 94105-2624

    • 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 Finance Inc.

      1412 Broadway, FL Team Room 5 New York, NY 10018

    • SOFI

      6175 Main St STE 490 Frisco, TX 75034-3441

    Customer Complaints Summary

    • 2,317 total complaints in the last 3 years.
    • 807 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.

    Sort by

    Complaint status

    Complaint type

    • Initial Complaint

      Date:07/26/2024

      Type:Service or Repair Issues
      Status:
      Answered
      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.
      Hello, I sent a police report to prove that it was a fraudulent act by this individual. If you think someone taking $850 out of my account and leaving me with $22.47 on 7./12/24 isn’t illegal then you need to get a different job. I had my phone with me at the rent a car facility and called to try and stop it from happening. I could’ve lost my job because I was trying to rent a car for work. My family and friends helped me through this difficult time. In addition, I did call back today and tried to speak to Aaron who left a message yesterday. Since, I can’t trust Sofi to the right thing I’ve requested ***** to be removed from my account. In addition, a police report should be sufficient to get my money back and I’m going to file a compliant. Furthermore, your decision is fraud and I’m getting ******* by Sofi and the **** who took my money. Finally, I want to speak to a manger because I’ll keep appealing this decision until Sofi dose the right thing. I speak to manager on 7/26/24 her attitude was terrible and showed no remorse at all towards my situation. Gary H*****

      Business Response

      Date: 08/05/2024

      Please see the attached document.

    • Initial Complaint

      Date:07/26/2024

      Type:Billing Issues
      Status:
      Answered
      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 account was restricted five days ago with zero explanation. I have called multiple times only to be told the "internal review team" is looking into it. All of my cash is at this bank. All of my auto pay bills are bouncing, my mortgage is due in five days. I have no strange activity and have almost $20k cash in the account. This is absolutely unbelievable.

      Business Response

      Date: 08/02/2024

      Please see the attached letter. 

    • Initial Complaint

      Date:07/26/2024

      Type:Service or Repair Issues
      Status:
      Resolved
      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 an account with ********************** for my direct deposit and there was fraudulent charges 3 to be exact and I lost 2 of the disputes and won 1 leaving my balance at 281 now they held my money for over thirty days pending account closure then I received a email saying my account would be closed and balance mailed to my residence then they tell me Im not entitled to my money and Im not getting anything which is strong arm robbery. I called in upset and they stated I spoke with a supervisor and the check was canceled first I never spoke with a supervisor secondly where is my money

      Business Response

      Date: 08/01/2024

      Please reference the attached letter. 

      Customer Answer

      Date: 08/02/2024

      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,

      ***********************

    • Initial Complaint

      Date:07/25/2024

      Type:Service or Repair Issues
      Status:
      Answered
      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 a claim on June 4, 2024. The claim was due to an *** withdraw of $300 ($314 with fees) from an *** in ****, ***** (Merchant Name: *************************************************************, ***). Upon entering the claim, SoFI issued a provisional credit of $314 into my checking. Now, I am told the claim has been denied and as of July 29, I will be debited the $314.I am stunned. I did not recieve any cash from the **** If a thorough investigation was done, you'd see video evidence that I DID NOT receive any cash from the **** I am adament about this and I expect more from SoFI. I have moved all my business to SoFI and this one handling of this issue will make me close accounts and move elsewhere. I'd like swift action and this to be made right. This is theft (either the *** or SoFI) and I demand this be made right.I am told I can provide additional documentation. What am I supposed to send in? A claim that I was standing at the *** looking like a moron while it did not distribute any cash?Respectfully,****

      Business Response

      Date: 08/02/2024

      Please reference the attached letter. 

      Customer Answer

      Date: 08/03/2024

       
      Complaint: 22046221

      I am rejecting this response because I did not receive any cash.  This is an error.  Also, it's interesting to note a few things...

      1)  After this transaction I recieved a text message asking if I'd made a transaction (fraud alert)....I stated 'yes' in the message....then this situation unfolded (again, I recieved zero cash)

      2)  A few days later while I was in ********, *****, I tried to transact again...I got a message on the Atm that stated (again) the card is not authorized for this transaction...I got a text message asking if I'd made a transaction...I stated 'no' and was not charged in my checking.

       

      **** THIS is an error.  You should see if there's video evidence.  I do not know how disappointing this is that Sofi comes back with this response.

      Sincerely,

      *************************

      Business Response

      Date: 08/09/2024

      Please reference the attached letter. 

    • Initial Complaint

      Date:07/25/2024

      Type:Service or Repair Issues
      Status:
      Answered
      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 an checking account with ********************** online. Set up direct deposit which all worked fine until I tried to pay my car payment. It was for ****** and I had ****** in the bank and sofi denied it! They even sent me a message asking if I made the charge and I said yes I did. And they still denied it! I called sofi customer service to find out why and they told me it was a security measure because they didn't recognize the charge. 1. Why did they bother to ask me about it, and 2. If I have the money in my account and my a charge against it I should not have to just hope it's going to cover it! I travel and make charges that are not going to be an everyday thing. It should not matter where I charge as long as I have the money. Anyway, my car payment was returned so I got a ***** returned payment fee. Sofi said the could present again and it would pay. But still out *****! That is not right when I had the money to cover it. They did the same thing to me the other night when I had money in the bank and tried to make an ATM withdraw and it would not let me have my own money! I spoke with the supervisor expecting them to at least cover the retuned payment fee and she said she understood but basically even though they declined it they weren't concerned about it. And they don't know if any other payments will be declined and will not remove that safety feature. This is just not right. I want my ***** back and want to be assured that if I have money in the account that my charges will be paid.

      Business Response

      Date: 08/01/2024

      Please see the attached document.

      Customer Answer

      Date: 08/02/2024

       
      Complaint: 22042884

      I am rejecting this response because:
      Since I had the money in the bank, it should NOT have been denied in the first place. And as soon as I received the text,I said I made the chearge! It was not the next day, because I notified Sofi the SAME DAY it was denied.

      It was my car payment, and none of your business what I spend my money on, It should have Never been denied in the first place! If you had concerns you could have put it on HOLD not deny it.  I still want my *****

      I was charged by ****************** back, because it was definitely not MY fault they denied it. I had the money in the account, i made the charge expecting it to be covered, Prestige sent the charge through the day I made it, 

      they could not have sent it through the day before, like you said, because they did not have the card number.  Also this all happened on the same day, not two days like you said. SO WHOSE FAULT WAS IT THAT YOU

      DENIED MY PAYMENT?!?  That is who is responsible truly for the ***** I was charged for returned payment!

       

      Sincerely,

      *************************

      Business Response

      Date: 08/07/2024

      Please see the attached document.

      Customer Answer

      Date: 08/08/2024

       
      Complaint: 22042884

      I am rejecting this response because,

      Your Policy :We can refuse to authorize any transaction when your SoFi Debit Card has been reported lost or stolen or when we reasonably believe there may be fraudulent, suspicious or illegal activity.
      I had not reported my card lost or stolen. 
      There was no reason to believe that a charge for ****** from prestige financial would be fraudulent, suspicious or illegal. When this is my car payment I pay every month. 
      This policy does not say that you can refuse my transactions when I have the money in there and NOT BE RESPONSIBLE FOR THE CHARGES INCCURED FROM THAT REFUSAL. 
      This was not my fault in the slightest, but you think I should be responsible for the ***** that was charged for you returning my car payment?!?! 
      Again your policy says you have the right to refuse, but it does not say that when you refuse that you don't have to pay the consequences for your refusal. I've spoke to 2 local banks and 1 online spending account about the situation.  They were all in agreement that if they suspected fraud that before they denied the charge they would have at least waited till the end of the day for me to respond to verify the transaction.  Then if it was denied like you did they would reimburse the charge since it was not my fault at all that it was denied. 
      This is poor customer service and if you would rather lose a customer over ***** that WAS YOUR FAULT I WAS CHARGED and get really negative reviews on ****** and the app store you are not a company I want to do business with.  
      I would understand if I would not have had the money in the bank to cover it or if I would not have answered the text exactly 32 minutes after I received the text notification, or if I would not have called the same day it was presented and denied. But none of those happened, that would have made me responsible for the transaction.  But you simply not paying it caused them to have to send it again which they incurred extra time and money sending it again. It took me a lot of extra time and frustration all because someone at your bank thought it looked suspicious!?!?!! 
      This is not an acceptable practice and my next step will be to notify the banks that you do business with, the ones that insure your deposits and let them know that you are picking which transactions you feel like paying and which you don't. Then will send a copy of all of this to my attorney, which is my son. Who will then consider the time and trouble you have caused me. 
      I know this is a lot over just ***** but it is the point that if I have money in the bank I should be able to trust the bank to pay my transactions, or if they are concerned to contact me and actually wait for my response before sending back my payments. 
      Plus I have never occured a returned transaction with any of my creditors, and should not have now! 
      Sincerely,

      *************************

      Business Response

      Date: 08/15/2024

      Please see the attached document.

      Customer Answer

      Date: 08/20/2024

       
      Complaint: 22042884

      I am rejecting this response because:
      I guess I have to file a complaint with mastercard regarding your unfair business practices using their card.


      Sincerely,

      *************************

    • Initial Complaint

      Date:07/25/2024

      Type:Billing Issues
      Status:
      Answered
      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 Bank has restricted my bank account and effectively appropriated my funds. The account will not accept deposits and will not accept withdrawals. Their "security team" has supposedly been "investigating" a $500 bounced check for THREE DAYS. Meanwhile, they have effectively stolen my money and will not even let me close the account and get my money back. I've never heard of a bank doing anything like this, especially over a mere bounced check. Seems like they plan to "investigate" this and keep the account locked FOREVER.

      Business Response

      Date: 08/01/2024

      Please see the attached document.

    • Initial Complaint

      Date:07/24/2024

      Type:Product Issues
      Status:
      Answered
      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.
      June 28th, I received my ss direct deposit to Sofi, I paid 2 bills before I went to bed. The next morning I checked my checking account and there was only 26 cents left. Someone during the night someone at **************** in ******, ** hacked my account and stole $1890. I called Sofi and they said while it was pending they could do nothing until it was posted. July 3rd it was posted, I filed dispute with them plus police department. Each department said the only ones to make decisions is back office. No one from back office would talk to me, only customer service, fraud and security. I called everyday to try to get information, but no one could tell me. I asked for emails for updates, which I did not get until they said they g he ad made the decision to not give me back my money. The email stated if I wanted to see the documents they used, then I could request. I did request those plus filed an appeal, instead they sent me a check for 31 cents. I called to find out again about appeal, all the different departments I talked to said I did something wrong. I asked what I did wrong, and again said back office makes decision. Once again they said I could not talk to back office. I am a deaf, disabled, 70 year old widow. I cant make my mortgage payment, car payment, pay any of my bills. I need this money back, $1890 is a lot of money to have stolen.

      Business Response

      Date: 08/02/2024

      Please see the attached letter. 

    • Initial Complaint

      Date:07/24/2024

      Type:Service or Repair Issues
      Status:
      Answered
      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.
      block out access to personal account and said account is under review and unable to specify or give reasons why restriction are placed on account

      Business Response

      Date: 08/02/2024

      Please reference the attached letter.

    • Initial Complaint

      Date:07/24/2024

      Type:Customer Service Issues
      Status:
      Answered
      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.
      There is a credit card account from ********************** Bank on y credit report that I did not open. I have already submitted documentation from SoFi stating that this account was not opened by me. Yet, SoFi Bank and the credit bureaus have failed to remove this account. I will take them to court expeditiously if this account is not removed immediately.

      Business Response

      Date: 08/02/2024

      Please see the attached document.

    • Initial Complaint

      Date:07/23/2024

      Type:Billing Issues
      Status:
      Answered
      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 bank account was restricted 8 hours ago because of a bounced $500 check. The balance on the account was never even negative and it still remains restricted. Nobody will tell me why and nobody will tell me when the restriction will be lifted. This is insane.

      Business Response

      Date: 08/01/2024

      Please see the attached document.

    SoFi is NOT a BBB Accredited Business.

    To become accredited, a business must agree to BBB Standards for Trust and pass BBB's vetting process.

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