ComplaintsforSoFi

Loans

HeadquartersMulti Location Business

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.

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Initial Complaint
12/16/2021
Complaint Type:
Customer Service Issues
Status:
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.
Their were 4 fraudulent charges that So Fi allowed to go through. These charges were made in ********* in the amount of $145.70, $122.74, $86.84, $50.35 ($405.63 total) on December 15th, 2021. I have attempted to call them several times and am told that I need to leave a message for their fraud department, which I did and am still waiting to hear. I call back and ask for a supervisor and am told I need to wait for 48 hours for a supervisor to call me. In the meantime, my account is drained and I have no funds to do anything, i.e. get gas, food, etc. Sofi is completely inadequate to handle people's financial needs. Yet, you have to leave messages for departments that you need dire help from and wait for days to call you back. Overall, I have called 6 times in the last day and chatted through their online service with the same script, I will receive a call back. I am then told that I will have to wait for 90 days to see a resolution to this fraudulent activity AND wait till the transactions post from pending and that this can take up to 5 days, this is completely unacceptable. Sofi is completely incompetent to be in the financial business.They allowed this to happen, their fraud department obviously is not flagging international transactions and allowing this to happen. I have emailed, called and chatted with this business with zero help.
Business response
12/22/2021
December 22, 2021

Better Business Bureau
**************************************************************************************

RE: Better Business Bureau Case #********; *************************

To whom it may concern:
We are in receipt of your letter received December 16, 2021 regarding the above referenced individual. We are reviewing the customers concerns and sending a response directly to the customer with a disclosure consent form. Upon receipt of the signed disclosure consent form from the consumer, we will forward a copy of the response to your office.
Please do not hesitate to contact our office if you have additional questions or concerns.

Thank you.

Customer Relations
**********************
Initial Complaint
12/15/2021
Complaint Type:
Product Issues
Status:
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.
On Sunday, October 17, 2021, I became aware that my SOFI account had been hacked. The hacker sold my stocks and bitcoin and transferred the money to their own bank account, a total of $740.00. On October 18th, I called SOFI to try to get help with restoring my stocks or getting my money back. After a long hold, I was told that my issue would be turned over to the fraud department. At that time, restrictions were placed on the account and I have not able to gain access to the remaining money that I have left in the account. I have called several times, but the phone connects to the fraud department and I have to leave a message. I called Money customer service in November to get an update, and the representative did not have information. Since that time, no one from Sofi has contacted me regarding my account.
Business response
12/23/2021
Please reference the attached document.
Initial Complaint
12/15/2021
Complaint Type:
Product Issues
Status:
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.
This company opened an account (SoFi money card) without my consent. I applied for a personal loan to be direct deposited to my bank account. I applied for this loan to cover my relocation expenses across country. When they funded this card it was sent to my old address where I can't access it. I needed this money urgently to afford a place to rent/sleep. I have been sleeping out of my car as a result of not having the funds. I have called and asked for them to transfer the money to my bank account where it was supposed to go and they claim they cannot and I have to do it through bank linking, which takes 2 or more days. If the account had been funded correctly the first time without opening a product that I hadn't asked for (the money card) none of this would be a problem.
Business response
12/21/2021
December 21, 2021

Better Business Bureau
**************************************************************************************

RE: Better Business Bureau Case # ********; *************************

To whom it may concern:

We are in receipt of your letter received December 15th, 2021, regarding the above-referenced individual. We are reviewing the customers concerns and sending a response directly to the customer with a disclosure consent form. Upon receipt of the signed disclosure consent form from the consumer, we will forward a copy of the response to your office.

Please do not hesitate to contact our office if you have additional questions or concerns.

Thank you.

Customer *********************************** Securities, LLC
Initial Complaint
12/13/2021
Complaint Type:
Service or Repair Issues
Status:
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.
My bank account has been locked and I can not get them to unlock it cause the people I need to talk to doesn't answer the phone and I have voice mail after voicemail to not get a call back I have been dealing with this for 14 days since my ssdi check went In to my account I'm starving my kids are straving I can not pay my bills I may end up homeless because of this I have missed important doctors appointments and etc I just need help or if u could tell meof a lawyer that will help me this is the worst bank I have ever seen in the world please help
Business response
12/22/2021
Please reference attached document.
Initial Complaint
12/11/2021
Complaint Type:
Service or Repair Issues
Status:
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.
11/30 transferred 50k over from my bank account to sofi Invest account. 6 days later after all clearing and sofi holding policy I was able to invest it all or withdrawal. I tried to invest 10k lost $200 and all together decided I dont want to invest anymore. In that time framed I closed the account I initially funded the account with and opened another account just better interests rate but same ***** Fargo branch. I tried to withdraw $49,851.88 and the status of the withdrawal wouldnt change. I called customer service he told me it will most likely reject due it being a different account funded. I then emailed the ceo proof of account being closed and uploaded a bank statement of the account Im trying to withdrawal too with name and address being the same only to be told all ach transfers has been restricted with me not being able to access or withdrawal $49,848.14 usd of my funds.
Business response
12/21/2021
December 20th, 2021

Better Business Bureau
********************************************************************************

RE: Better Business Bureau Case # ********; ***********************************

To whom it may concern:

We are in receipt of your letter received December 11th, 2021, regarding the above-referenced
individual. We are reviewing the customers concerns and sending a response directly to the
customer with a disclosure consent form. Upon receipt of the signed disclosure consent form
from the consumer, we will forward a copy of the response to your office.

Please do not hesitate to contact our office if you have additional questions or concerns.

Thank you.
Customer *********************************** Securities, LLC
Initial Complaint
12/10/2021
Complaint Type:
Billing Issues
Status:
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.
SoFi money closed my account with ****** and I can't get in touch with no one
Business response
12/20/2021
Please see attached
Initial Complaint
12/09/2021
Complaint Type:
Billing Issues
Status:
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.
I applied for credit card with Sofi Lending Corp after carefully reading through their terms and conditions. My application came back as "declined" with the reason "unable to verify identity. I have a consumer fraud alert in my credit report just like almost over 40% people, and any person in today's world filled with cyber-fraud would have. All of the banks that I have ever dealt with, the credit bureaus, all of them encourage to have fraud alert with a phone number listed, so that way there is no credit is granted without your consent. Fraud alert basically a statement on the credit report, so when your information is used to apply for credit, no decision should be made before making a decision. However, when I contacted SoFi, I was told that unfortunately they do not have a department that would verify applications with consumer fraud alerts, and it would be automatically declined. When asked if I can re-apply, they told me that I have to wait 30 days, while I needed before the 30 days because my whole intention for credit card with SoFi was to do Christmas shopping. After 30 days, I do not need it. After speaking to a supervisor, I was told that unfortunately, they cannot allow me to re-apply in 30 days, nor they can review and verify applications with credit with fraud alerts. Furthermore, they said that all of the applications get declined for the same reason, and that I would need to remove the fraud alert in order to apply for them. Fraud alert is not a security freeze, so they can access my credit and do phone verification. However, they are wrongfully encouraging people to remove fraud alert to be able to qualify for credit card with them. To me, that also means that they are asking me to make myself an easy target/victim of fraudulent activity. If I had no fraud alert, and someone else applied using my information, they would have approved immediately, and now I am applying with fraud alert they are declining. I need someone to look into it.
Business response
12/19/2021
December 19th, 2021

Better Business Bureau
**************************************************************************************

RE: Better Business Bureau Case # ********; ****** Khandoyan

To whom it may concern:
We are in receipt of your letter received December 3rd, 2021, regarding the above-referenced individual. We are reviewing the customers concerns and sending a response directly to the customer with a disclosure consent form. Upon receipt of the signed disclosure consent form from the consumer, we will forward a copy of the response to your office.
Please do not hesitate to contact our office if you have additional questions or concerns.

Thank you.
Customer Relations
**********************
Initial Complaint
12/09/2021
Complaint Type:
Product Issues
Status:
Resolved
The complainant verified the issue was resolved to their satisfaction.
My account was closed due to improperly endorsed check or an overseas debit transaction. Acceptable resolution is account closure and disbursement of remaining funds.
Business response
12/16/2021
Please reference attached document
Customer response
12/17/2021
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
12/09/2021
Complaint Type:
Product Issues
Status:
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.
I refinanced my Mortgage within the past week. This was undoubtedly the worst transaction i've ever had with a Financial Institution. After months of incorrect estimated Closing Documents and in spite of many email confirmations of what ultimately would be included within the CDs, SOFI completely reneged on their Agreement with me. The Broker repeatedly told me to "ignore" the CD revisions of which there had to be at least 12 versions. So again, after email agreeemnts from SOFI, i moved forward 11-26-21 to close. The two major issues in question were the first payment date (agreed to be Feb 1 2022) and the cashout ($2,000). SOFI sent a Notary to my home for signature with their promise the documents would be accurate. Sure enough, yet again there were many issues including the first payment date ******* instead of February. I refused to close. They promised again the "issues" would be resolved and they sent a Notary again to my home again 12-1-21 with errors including the cashout being $1709. I escalated this issue to a Senior Sofi Exec knowing my ***** fargo mortgage was due. The Exec encouraged me to sign the Closing docs and that the "errors" would be addressed and she sent an email commitment to rectify same including cashout at $2000. The Mortgage closed i sent emails since asking for information and the errors including the $290 credit and have since received no reply. I have absolutely zero trust in this both incompetent AND untrustworthy Organization.
Business response
12/19/2021
December 19th, 2021

Better Business Bureau
**************************************************************************************

RE: Better Business Bureau Case # ********; *******************************

To whom it may concern:

We are in receipt of your letter received December 9th, 2021, regarding the above-referenced individual. We are reviewing the customers concerns and sending a response directly to the customer with a disclosure consent form. Upon receipt of the signed disclosure consent form from the consumer, we will forward a copy of the response to your office.

Please do not hesitate to contact our office if you have additional questions or concerns.

Thank you.

Customer Relations
**********************
Initial Complaint
12/08/2021
Complaint Type:
Customer Service Issues
Status:
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.
I have been frozen out of my account for weeks and have been unable to speak to someone from the fraud department. They keep sending me to a voice-mail that gets ignored. There is no way to contact these people
Business response
12/14/2021
December 14th, 2021

Better Business Bureau
**************************************************************************************

RE: Better Business Bureau Case # ********; *************************

To whom it may concern:
We are in receipt of your letter received December 3rd, 2021, regarding the above-referenced individual. We are reviewing the customers concerns and sending a response directly to the customer with a disclosure consent form. Upon receipt of the signed disclosure consent form from the consumer, we will forward a copy of the response to your office.
Please do not hesitate to contact our office if you have additional questions or concerns.
Thank you.
Customer Relations
**********************

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