ComplaintsforSoFi
Loans
Additional Complaint 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/
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Complaint Details
Note that complaint text that is displayed might not represent all complaints filed with BBB. See details.
Initial Complaint
08/12/2024
- Complaint Type:
- Billing Issues
- Status:
- Resolved
My Account had a unauthorized login August 7th 2024 from ********** and Sofi agent was very rude on the phone telling me that I added a bank called ******************* to my account and no one was able to but me I'm not the one that added the bank and lost 810 my account had been hacked did try transferring to my ******** but the hacker canceled it and sent it to there bank Evolve. Check login in history you will see ********** and phone number change that stared with 5 that wasn't 585 or 315 Nys area codesCustomer response
08/15/2024
From: ********************* <*********************>
Sent: Wednesday, August 14, 2024 9:29 PM
To: info <************************************>
Subject: Remove reportsHey my name is ************************* just writing you to let you know that I have received a refund and you can go can go ahead and close all reports for me transaction has been dealt with
Initial Complaint
08/09/2024
- Complaint Type:
- Product Issues
- Status:
- Resolved
SoFi has a new customer bonus in which if direct deposits made during the promotional time exceeds $5000, they will get a $300 cash bonus.My employer, The City of ***********, made two direct deposits one being on July 8th 2024 for $2753.13 and a 2nd direct deposit on Just 22nd 2024 for $2752.13. This total exceeds $5000 and was within the promotional time.However, after evaluation, I was only given $50 which is only given if direct deposits total less than $5000. I asked a customer *** why this was the case and they said that one of the direct deposits was tagged as a normal "deposit" and thus I was evaluated for have less than $5000.This is obviously incorrect, and I've reached out via their support chat a total of 3 times with the last support agent actually suggesting I close all my accounts and cease my business with the company. They even told me how to close my account (what kind of customer *** does this?)Overall, I just want my remaining $250 promotion money and considering my income and what I can provide to this company, I just find it really unbelievable that they cannot honor one of their advertised promotions over a bug that is easily verifiable and traceable. The direct deposit is coming from a government organization so it is impossible to fake.Business response
08/16/2024
Please see the attached document.Customer response
08/18/2024
Better Business Bureau:
I have reviewed the response made by the business in reference tocomplaint ID ********, and find that this resolution is satisfactory to me.
Sincerely,
******** ******Initial Complaint
08/05/2024
- Complaint Type:
- Customer Service Issues
- Status:
- Resolved
At first I absolutely loved sofi, especially how you can do everything in the app from investing to creating savings vaults. However my opinion has greatly changed since my account was restricted a week ago. Money can come into my account but not out. I've called every day since for an update but they won't give me answers due to it being under review by their "internal review team". I have been unable to access my funds at all and I'm about to default on some bills, thank good I have a good relationship with my father who is helping me for the time being. I'm extremely frustrated that they will not give me any answers on how to resolve this or even why it was restricted in the first place.Business response
08/14/2024
Please see attachmentCustomer response
08/14/2024
Better Business Bureau:
I have reviewed the response made by the business in reference tocomplaint ID ********, and find that this resolution is satisfactory to me.
Sincerely,
*******************Initial Complaint
07/31/2024
- Complaint Type:
- Billing Issues
- Status:
- Answered
Section FCRA 611(a)(6)(B)(iii) and (7) of the Fair Credit Reporting Act, 15 U.S.C. 1681i, and send the required notifications to all furnishers of this information. Fair Credit Reporting Act, 15 U.S.C. 1681s-2 Section 623(a)(8)(D) Section 603(p), must notify consumers in writing if they may furnish or have furnished negative information to a CRA. Section 623(a)(7).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.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.SOFI BANK Amount $80000Date:6/10/2024 Acct# *********Business response
08/08/2024
Please reference the attached letter.Initial Complaint
07/29/2024
- Complaint Type:
- Product Issues
- Status:
- Answered
Received an email on 7/26/24 that money need to be added for my *** account by 7/26/24 I did see the email due to working a double that day until 7/27/24. So they flagged my account and froze all my assets ****************************************** accounts. I dont understand why because my accounts have over $150 in it that could have just been transferred to the *** account. Now they wont let me access anything and my ************************ accounts are dropping so Im losing money. They wont let me know a time frame that they will be closing the account. I just want all my money and assets out of the account before it keeps dropping. I have canceled any money to be transferred to those accounts.Business response
08/07/2024
Please reference the attached letter.Initial Complaint
07/29/2024
- Complaint Type:
- Product Issues
- Status:
- Answered
I signed up for a new account on 6/12/24, which at the time offered a new account bonus if we met the direct deposit conditions. If we received $5000 in direct deposits, we would receive a $300 promo. Anything less than that would result in a $50 bonus. On June 14, I received a direct deposit of $1100, on June 23, I received $4260.41, and on June 28, I received $700, thus satisfying the conditions needed to receive the $300 bonus. However, on July 18, I only received a $50 bonus.I contacted SoFi on July 18, and they stated that my direct deposit was coded incorrectly. They needed to fix the coding and file a bonus exception, which would take a week to resolve. I followed up on July 23, and they stated it would be done by the end of the week. I contacted them again on July 29, and was told that there was nothing they could do because it was already coded as a deposit. I called back and was then told that it would take two months to hear back.I feel I am being given the runaround as none of the information I received from SoFi is accurate. I have done everything on my end to receive the promo, and I do not feel it is right that they are not offering the support needed.Business response
08/08/2024
Please see the attached document.Initial Complaint
07/29/2024
- Complaint Type:
- Customer Service Issues
- Status:
- Answered
My account was closed by ********************** due to a bounced check that was written to me for a service. It was closed the same day they told me the check bounced with nobody to call or resolve the problem with. On top of that they sent me an letter claiming that they had no dispute resolution process for this type of closure. I have tried to call them, but the only call centers they have are in international countries where the people answering the phones can barely speak English and have no power to re-open the account or themselves tell me why it was closed. They're were no supervisors or managers to speak to in the 5+ times I called them. It seems as if they're is nobody in the company who can do anything to resolve customer problems. I am not the first person to encounter problems with SoFi and their customer dis-service as many people complain about how their funds are frozen and accounts closed for little to no reason.Business response
08/07/2024
Please reference the attached letter.Initial Complaint
07/28/2024
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
Sofi bank sent me an email that information has changed on my account so I contacted them right away because I did not initiate any changes. After getting my information changed back I could not access my online account. Forgot password did not work, kept getting an error message. Their representative said they would submit a ticket to their tech support and I would hear back within 48 hours. When I heard nothing after 48 hours I called again and got no resolution. The following day I received an email saying my account has been restricted. I called they asked me to upload my id and a selfie so I did, then I was told to reset my password again, which I did, still getting error message. I was then told there is nothing they can do and my account will need to be closed. The money in my account is not accessable by me in any way and I have to wait for them to send me a check for my money. So because I can't access my account online they've Frozen my debit card when there was no issue with my debit card such as a fraudulent charge or anything like that.Business response
08/06/2024
Please reference the attached letterInitial Complaint
07/28/2024
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
7/28/24 i applied and was accepted for a high interest savings account before i went transfer money to this new account it said i had 4.6 apy. Upon trying to transfer money this account it dropped to 1.2 without notice. They lied and used bait and switch and then when i opened chat they claimed it was always 1.2% which it was not and further claimed i needed to add direct deposit which was not stated and to deposit 5000 a month into the account every month to maintain 4.6%. Nowhere did it say this i requested all my information to be deleted and it has not been. And they should be held accountable for false advertisement.Business response
08/06/2024
Please reference to the attached letterInitial Complaint
07/26/2024
- Complaint Type:
- Product Issues
- Status:
- Answered
I am writing to express my concerns about an investigation for over $20,000 that was closed within two hours, which is unusually quick compared to my experience at other banks. I attempted to file a dispute on the 23rd through chat with another agent. However, when I called, they claimed they had not received it. This is particularly troubling because the money is for something I have not received and was rejected upon delivery.As a customer for over a year, I am disappointed by the company's customer service and lack of urgency in handling my money. I would appreciate the opportunity to speak with someone who can assist me.Thank you for your attention to this matter.Business response
08/02/2024
Please see the attached document.
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Customer Complaints Summary
1,983 total complaints in the last 3 years.
940 complaints closed in the last 12 months.