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 Finance Inc.

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

• 

  SOFI

  6175 Main St STE 490 Frisco, TX 75034-3441

• 

  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:05/03/2024

  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 Sofi Bank account was randomly Restricted On April 29,2024. I tried calling, I tried emailing and nobody answered or assisted me. The only response l am getting over and over is that I have to wait until the investigation is done. I cannot get in touch with the team who is investigating or there isn't any Timeframe on when it would be resolved. I have bills that are due and my funds are still frozen in my account and it's been 4 days with no response or anything

  Business Response

  Date: 05/11/2024

  Please reference the attached letter.

• Initial Complaint

  Date:05/02/2024

  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 am writing today because on March 1, 2024 I applied for a small business loan with SoFi bank. The merchant referred me to a third party who is deceives clients and states they will provide small business loan but only issues credit cards. SoFi is irresponsible for not researching the companies they refer clients to and allow us to get scammed. The merchant that i was referred to is SBC ******** *************** On March 2, 2024, I did not receive what I paid for in the amount of $2,653.45. It was agreed that I would receive a small business loan but instead received credit cards. On March 2, 2024, I received a telephone call from ************ at 5:00AM pacific standard time. This was an inappropriate time to contact a consumer. ************ is located in *********** and should not be calling at 5:00AM in the morning. The compliance manager at ************ ***************************** stated to me he can qualify me for a small business loan. The following day I received many telephone calls from credit card companies regarding business credit cards. This is not what I agreed upon and it effected my credit score as well. I did not want credit cards and this is not what we agreed upon. I was charged $2,653.45 for a service that I did not receive a small business loan. I was not provided with the contract as we discussed over the telephone. I emailed the merchant (*****************************) to cancel the issuing of credit cards that I did not agree to this service. The merchant did not want to discuss the matter further in email as it would be documented in writing and stated in the email he would call me. I explained over the telephone call to the merchant that I did not agree to business credit cards. The merchant stated I would have to pay an invoice of $2,653.45 or the credit card inquiries would not stop. The merchant then charged my credit card with ************ I asked ***************************** to transfer my call to a Manager but refused to transfer my call to a Manager.

  Business Response

  Date: 05/11/2024

  Please see the attached document. 

• Initial Complaint

  Date:05/02/2024

  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.

  The bank said my other account that was linked it was trying to deposit into SoFi bank In April I been a customer since 2009 now they wont let me get my money out and they said they was going to close my account because if their system and mistake its not right .

  Business Response

  Date: 05/11/2024

  Please see the attached document. 

• Initial Complaint

  Date:05/02/2024

  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 4/27/2024 my card was fraudulently charged from another country.SoFi sent me a text asking me to verify that I approve those. I did not approve those purchases. I confirmed that I did not approve those purchases in addition to that I called at which point I was told they could do nothing until they let the fraudulent money clear from my account.1. That is a form of theft on its own, why let stolen money clear from someones account, to protect the ones stealing, thats why.I canceled the card got re-issued a new one then had to wait 4 additional business days for the stolen money to clear my account just open up a fraud notice even though five days ago I already alerted the bank to this being fraud and they made the conscious choice to take action to protect their customer.Now today after being alerted to this for the last five days, sofi opened an investigation into the fraudulent charges, but is refusing to credit my account back with the stolen funds stating that regulation does not allow them to do so until is 10 business days. However, when you look up said regulations, there is nothing dictating when they can issue us our stolen funds back only regulations dictating that it decision must be made in 10 business days ********* is supporting theft of my account & willfully ignoring the damages being caused to their customer.$250 was stolen from *************************** is being complacent to fraud.

  Business Response

  Date: 05/11/2024

  Please see the attached document. 

• Initial Complaint

  Date:05/01/2024

  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.

  Subject: Formal Complaint Regarding SoFi Bank's Unacceptable Account Restrictions To Whom It May ********* write to you with deep concern and frustration regarding the handling of my account by ********************** Bank. It is imperative that you are made aware of the distressing situation I, along with numerous others, have found ourselves in due to the actions of your institution.For the second time, I have been subjected to an unjustifiable account restriction by SoFi Bank, leaving me without access to my own funds. While I could somewhat understand the inconvenience of the initial incident under the guise of fraud prevention, the repetition of this ordeal without cause or prior warning is entirely unacceptable.The simple act of transferring funds between my own accounts should not warrant such extreme measures. SoFi Bank's actions demonstrate a significant disregard for customer welfare and basic principles of service.Adding to the severity of this situation is the unprofessional conduct displayed by SoFi Bank's staff. Their rudeness, incompetence, and lack of empathy have only exacerbated an already dire circumstance. I refuse to tolerate such treatment, particularly during a time of genuine financial strain.As I face essential financial obligations such as rent, bills, and sustenance, I find myself in a state of vulnerability. How can I justify to my landlord, creditors, and, most importantly, my family, that they must suffer due to SoFi Bank's incompetence?It is evident that SoFi Bank has failed to comprehend the severity of this matter. I demand immediate action to rectify this egregious error. Transparency, accountability, and appropriate restitution are essential to mitigate the anguish and suffering inflicted upon myself and countless others.

  Business Response

  Date: 05/11/2024

  Please reference the attached letter. 

• Initial Complaint

  Date:05/01/2024

  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.

  My refund was stolen in deposit into the woman who did my 2023 taxes Sofi bank has my money in will not send my money back to controller of ******** without documentation from the state of ******** letting them know it belongs to me so I need someone help with getting my funds back to me ASAP

  Business Response

  Date: 05/10/2024

  Please reference the attached letter.

  Customer Answer

  Date: 05/11/2024

   
  Complaint: 21652657
  
  I am rejecting this response because:
  
  Sincerely,
  
  *************************

  Customer Answer

  Date: 05/13/2024

  I ************************* do not have a business my state tax refund was token from the women who has an account with ********************** is sitting inside of sofi bank sofi has her account on hold because she's been taking multiple people tax refund i need for someone to help me to get sofi to send the refund back to the controller of maryland so that I can get my refund mail to me I've sent sofi proof of documents to show them the refund belongs to me i also filled a police report against the women name ****** ******** who took my state refund in put into her account ********************** wasnt even suppose to accept my check to begin with because it doesnt match can someone please work towards getting my refund released of ******** to me asap 

  Business Response

  Date: 05/19/2024

  Please reference the attached letter.

• Initial Complaint

  Date:05/01/2024

  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.

  Misleading information causing to sign a loan with major penalties

  Business Response

  Date: 05/10/2024

  Please reference the attached letter.

• Initial Complaint

  Date:04/30/2024

  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 am writing to formally request your assistance with an urgent matter concerning my banking relationship with SoFi. As a cancer patient, I have encountered significant challenges with my account, which have been exacerbated by the banks recent decision to close my account without a clear explanation or adequate support.In recent weeks, I experienced a freeze on my account which severely impacted my ability to manage my finances. Despite numerous attempts to resolve the issue with SoFis customer service, my concerns were not addressed effectively. I often faced abrupt service terminations during calls, and on several occasions, representatives hung up, leaving my queries unresolved.On April 29, 2024, I was informed that my account was closed due to an alleged violation of terms and conditions, a claim that was not substantiated with specific details. This sudden closure has left me without access to my funds, during a time when I am already dealing with significant personal health challenges. Moreover, I am affected by the recent ********* leak, which has led to additional complications with denied transactions and accruing fees.Given these circumstances, I am seeking the BBB intervention to address the following:1. A thorough investigation into the handling of my account closure by **********************, including the reasons behind the alleged violations and the manner in which my concerns were managed by their customer service.2. Assistance in restoring access to my funds as swiftly as possible to prevent further financial distress.3. Review of any penalties or fees applied to my account in light of the account freeze and subsequent closure.I believe that the difficulties I have faced involve violations of consumer rights and potentially discriminatory practices, considering my health condition. Enclosed are all relevant communications with SoFi, as well as documentation relating to the ********* leak impact on my financial transactions.Thank you for your attention to this pressing issue. I am hopeful for a prompt response and am eager to cooperate fully with any inquiries or advice you may have to facilitate a resolution.

  Business Response

  Date: 05/10/2024

  Please reference the attached letter.

  Customer Answer

  Date: 05/10/2024

   
  Complaint: 21649253
  
  I am rejecting this response because:
  I want to express my profound dissatisfaction with the response your institution provided to the Better Business Bureau regarding my complaint. It is clear from your letter that there has been no genuine attempt to address or resolve the issues I have raised. Furthermore, the communications I have received from SoFi have been vague and have failed to clarify the specific violations I am accused of committing.
  
  
  Repeated attempts to discuss this matter over the phone have resulted in me being inappropriately disconnected by your representatives, despite my pleas for understanding and assistance, particularly under the difficult circumstances of my health as I am battling cancer.
  
  
  Additionally, I find it unacceptable to receive a letter stating that I owe $350 without a detailed explanation or justification for this charge. This lack of transparency and consideration is not only disappointing but also distressing given my current health situation.
  
  
  I must insist on a full and clear explanation of the charges levied against me and an immediate review of how my calls and inquiries have been handled. If this matter is not resolved promptly and to my satisfaction, I am prepared to take further action.
  
  
  Thank you for your immediate attention to this urgent matter.
  Sincerely,
  
  *******************************

  Business Response

  Date: 05/13/2024

  Please reference the attached letter. 

  Customer Answer

  Date: 05/13/2024

   
  Complaint: 21649253
  
  I am rejecting this response because:
  I really want to express my concerns regarding the handling of recent transactions and the subsequent closure of my account. While I appreciate your efforts in listing the transactions I questioned, the explanations provided do not satisfactorily address my initial concern: I do not recognize these transactions, nor do I have any association with the merchant involved.
  
  
  As a customer, my expectation is that my bank will protect my financial interests and offer support in situations of unauthorized transactions. Unfortunately, I feel that this was not the case, as my account was closed abruptly, leaving me without access to my funds. This has not only caused significant inconvenience but has also shaken my trust in SoFi as my financial partner.
  
  
  I request a thorough investigation into these transactions and the reasons behind the decision to close my account. Please provide me with a detailed explanation and reconsider your decision to close my account, as I need immediate access to my funds.
  
  
  Thank you for your prompt attention to this serious matter. I look forward to your swift response and a resolution to my concerns.
  Sincerely,
  
  *******************************

• Initial Complaint

  Date:04/30/2024

  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.

  The credit bureaus keep disrespecting the law . I have showed them multiple times how they are violating the FAIR CREDIT REPORTING ACT .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.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 The credit bureaus have no respect for the laws.Someone needs to hold them accountable for this. Please DELETE the fraud Account from my credit Report does not relate to any transactions that I have made. DELETE / REMOVE ACCOUNT ********************************** BANK Amount:$75000 Date:3/5/2024 Acct#*********

  Business Response

  Date: 05/08/2024

  Please reference the attached letter. 

• Initial Complaint

  Date:04/30/2024

  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 created a savings/investment account with **********************. Lost my password and when I request an email to change it, none ever arrives. Every time I contact customer support, the people dont recognise my email address and demand i give my full social security number over the phone. My app shows I have 2 messages waiting and I have no way to access them.

  Business Response

  Date: 05/10/2024

  Please reference the attached letter.