SoFi Checking and Savings Reviews

Went through the hassle of opening an online savings account only to find out once my account was approved that the advertised interest rate was actually a complete misrepresentation/false advertisement and that the actual interest rate was nowhere near that amount. Don't waste your time with SoFi. There are far better rates and customer service out there.

I signed up with SoFi because I wanted a checking account with no minimum balance. Immediately I found out that I could not open the account with less than a 500.00 deposit. I tried to cancel but also found out that there is no way to contact anyone by email or otherwise. So now I get emails everyday from SoFi trying to sell stuff and all the emails have a return address of no-reply@. This is a suckers bank and I am offended that our country would allow this.

I have not been able to use my account for a month. They sent me a replacement card then immediately cancelled it. Now I have my 3rd card, every transaction is declined. I have spoken to 10 people and emailed the CEO's office twice...no response. Today a manager hung up on me. I am now writing bad reviews everywhere and filing complaints with all federal banking agencies in hopes of getting someone to help me.

I started my high interest yield savings on Sofi 4 months ago. At first I was happy with a 4.15% then the following month it went down to 3.5%, next month 3.0% until my month 4 it was .8% and then when I inquired why they responded say if I want to keep up the rate I have to pay them $10 a month.

SoFi is the worst bank experience ever. Stay away from this bank. It positions itself as a leading on-line technology bank, but they are years behind other banks. It was more than happy to accept my deposits totaling over $15,000 in 5 days - a combination of wire transfers, ACH transfers, and mobile check deposits. When I tried to wire transfer a large amount to another bank the wire transaction was “flagged” as a possible fraudulent transaction and all my funds put on hold … include the wire transfer deposits that are guaranteed and suppose to be available immediately.

Incompetent payment process towards their Smart Card. It takes 5 plus days to receive a credit. SoFi cannot compete with Ally Bank or Chime. Sofi pretends to be a multi purpose Bank, But they aren't Ready.

The bank close my account without notify me a reason. When I called Customer service support did tell me a reason. They did not know answered anything on closed my account. Instead told me that will send email explaining but never received an email from them. The worst bank to open account. I am surprise that they consider good bank. But the way Customer service the worse compare to other banks.

I’m extremely disappointed with my experience at SoFi. A $40 fraudulent charge was disputed with full supporting documentation and was still declined. While the dollar amount was small, the message it sent about fraud protection was not. When I cancelled my credit card as a direct result of this, I was asked for the reason and clearly explained my concerns. The account was closed with no acknowledgment, discussion, or follow‑up. If customer feedback is requested but ignored, it raises a valid question about why it’s asked at all. This experience led me to cancel my credit card and is now driving my decision to close my remaining accounts as well.

CONSUMER BEWARE!!! I have been banking with Sofi for over a year now and am completely unsatisfied for reasons listed below.

Absolutely terrible customer service that are untrained and do not care to help with anything. If you have any issues and need to contact this bank, you are in for one difficult time. They will put you on 2 hour long holds just to hang up on you immediately afterwards.

Sofi Bank has "bug" issues with their software. I have spoken to 2 CS reps, 2 IT specialists, and now engineering is working on the issue. The ISSUE...; I cannot get my six-figure deposits. Sofi will apologize but hide behind emails. When their computer system goes down, so does your ability to get your money. Brick and Mortar, you can walk in and get a resolution. Online banking is a void, and you are trapped.

I was blocked by SoFi for attempting to buy an egift card for $100 online for Christmas present. Then they paid $1000 out to the 'Bank of Georgia' not the state THE COUNTRY!! I tried to cancel transaction while pending, but they would not do it. The made me wait until it posted. My checks bounced, bills went unpaid. Then denied my dispute and denied my appeal. Unless you have so much money that losing $1000 means nothing....STAY AWAY. All their customer service is outsourced to other countries.

Worst Bank experience ever. Our account was frozen for over 20 days, not allowing us to access the account due to "fraudulent" activity. Sofi then closed our account without warning and sent a check in the mail. It's been over a week since the check was mailed, and we still haven't received our money back. Customer service is a nightmare; you will get transferred to several different people that don't seem to care about helping. So, as I sit here writing this review, I haven't been able to pay any bills or buy literally anything in over 25 days. Please stay as far away from this bank as possible.

i received a bonus check at work. I used mobile deposit and they said it will not clear till after Christmas. It's over a week. They explained due to holidays it takes this long.. I immediately cancelled the transaction, they told me the check was cleared to be cashed elsewhere. I do after I confirmed this with them 3 times prior. Well the check has already been cashed. Sofi has my money, refuses to release the funds, almost had me in jail and their response is here's 15 dollars for your inconvenience but not the 1k we gonna hold for whatever reason.

SoFi just up and close your account due to unusual activity which is what they state even though this account was for household everyday purchases. No explanation as to why the accounts were restricted and closing. I don’t recommend SoFi to anyone. Very unprofessional and withheld funds that don’t even belong to their bank.

STOP USING ✋️ 🫸 🫷 ⏹️ 🚏 THIS BANK. SOMEONE IS USING MY INFORMATION AND CAN'T GET IN. Tried updating it and ask for selfie 🤳 and more information. This is an unsecured app. Whoever use this was never checked ✔️ ✅️ out. WATCH THE APP.

I had a very bad experience with unauthorized charge on my account. It was going on for almost 2 months between the appeals. They see like they don't care and have not made a reasonable effort to resolve the issue in my favor. If you look up the reviews you can find that the most reported complaints include poor fraud protection where customers report issues with unauthorized charges and unresolved disputes, frustrating customer service. I wish I have seen those reviews before. Don't use this bank because they will not give you your money back in case of fraudulent transactions. They are the scammers. They don't care. Do you?

I found out after I opened our account that there is no physical address. All of the workers I have talked to have broken English. It is very difficult to understand. They are not customer friendly and they act like they are doing you a favor. I don't know about you but my money is very important to me. I had a dispute with a transaction and they take longer than any other American bank. It was a fraudulent transaction and I did not get a 'red flag' and when I asked them about not flagging it they said they don't do that and resolving a dispute can take up to 90 days! They must be a foreign bank with no physical building. WHY WOULD ANYONE WANT TO EVEN GIVE THEM A PENNY! BEWARE. I AM SENDING OUT NOTICES TO DIFFERENT SITES TO MAKE PEOPLE AWARE.

My experience is a frustrating one. I was approved for a loan; except they needed to verify my employment. My job redirected them to a website that had my information, except for my work hours. The lack of verified work hours is what literally held this loan up. I was set up for auto pay, linked my bank, gave them everything they asked for except this. Now, 3 weeks later, when I figure out how to provide them what they need, they deny me based on a 30-day re-apply grace period that isn't even stated anywhere. I had to find this out from an outsourced person who barely spoke English; they couldn't even speak to me directly. Careful, they hold grudges, and you can be blacklisted as childish as that is.

Absolutely has been difficult to get them to reverse unauthorized charges and now they decide to cancel my debit card w/o notification which is total disrespect for members I written corporate several times and it takes a complaint to comptroller and federal to get them to wake up and pay attentions. Online banking is nice but when there is an issue having a branch is better.

I would not use Sofi bank!! My account got a deposit from my school. I went to the ATM to withdraw the money and the ATM never disbursed the money so I reported it. Now sofi closed my account and denied my request to return the money to me. Sofi is taken money from people that work or go to school for their money. I honestly would not ever use sofi again and if I can I am in the process of getting my lawyer to start a law suit against this company because this is not the first time I've noticed money missing from my account with sofi that was unexplained.

I wish I had read these reviews before opening my account with SoFi. Here are my pros and cons, and am elaborating on one of the biggest cons.

Once you give ANY contact information of any kind, they will bombard you with their bullshit and you will never be able to stop it. They have a reputation for fraud and insecure handling of personal information. And complete inept moronic customer service. I have never used anything they offer and still get spammed months later.

I opened an account with SoFi in October due to their high rating. Since then, I have had nothing but trouble with my accounts. I have had multiple debit cards due to fraud and had to close my accounts and get new ones. It all culminated last week when a card I requested, which hadn't even been mailed yet, much less activated, was used in a state I'm nowhere near. I hadn't even gotten off the phone with them yet. I requested that the new card be sent with a signature required. It arrived today and was left in my mailbox with no signature requested or given. I've not been satisfied with the customer service I've received from them.

Refused to deposit my check and now I can't deposit it anywhere because they made me write "Sofi" on the back. Customer service threatened me and then hung up on me. Worst experience ever. They take forever processing transactions. I used a unique password to the bank to sign in and kept getting fraudulent logins. They tried telling me it was other companies logging into my account when I had nothing else linked.

This is the worst company I've dealt with... They're criminals.. I appealed 4 times transactions and got denied all 4 time.. If I could give a zero rating.. Can't wait for them to go out of business or close down.. Whichever 1 comes first.

I was tricked by a merchant into making a payment for a service that was complete, and when I reached out to my bank to explain that the charge was the incorrect amount, the bank did nothing. SoFi did not even explain to me why my dispute was closed; they did not inform me of anything. I had to call to explain the same situation to them. I wish I had banked with Chase or Bank of America; at least they care about their customers. These internet banks are not trustworthy, and the customer service is not there. I still have not received my money back.

They hate seniors. They closed my checking account without authorization. I am a senior and will not get checks until July. I will have to go to food banks to survive. They said there was nothing they could do. This is how they treat seniors.

Unfortunately I have not had a positive experience with SoFi Bank. First of all, customer service is HORRIBLE!!! And it does not matter. All that they have to offer when the customer service is way off. I called to inquire about a deposit that I was expecting, and boy was the MANAGER Robert rude. He hung up on me! THE MANAGER! Called back and got Debbie and guess what, she hung up on me also. I called back AGAIN and spoke to Mike who was supposed to transfer me to another department and yes, he hung up on me too. That was enough for me to close my account which has only been opened for about a month. Never used the bank or my debit card (which I just cut up). NO THANK YOU SoFi!!! IF you call that professional and business tact, I want nothing to do with you. THANK GOD!!! I never used them for any kind of business. No telling what kind of hell they would of put me through.

It is my understanding, from one of the customer service reps, that there has been a system glitch that has made notations and blocks on accounts where the customers do not have access to their funds. My daughter has been caused undue stress with regard to her money being held without just cause. Her financial obligations have been negatively impacted, with services being disconnected. She was advised that this system glitch has affected quite a few customers. She was also told that the situation would be resolved by 04/28/2025. It has not been. This is not good business and needs to be reported to the BBB, the Federal Reserve, and/or local government officials who might want to investigate.

I went to make a deposit into my savings account but somehow ended into the investment account which I have not used. When I tried to move it, I couldn't as the money was listed on hold. Not sure how it got into investment. This was done on a Friday morning. The following Friday morning it still wasn't available even though the bank verified SOFI had received the money 2 days after I made the deposit. When I called Sofi they said it would be available on Monday. I questioned it since they had the money. Sometime during the night they released my funds for withdraw. HOWEVER, when I went to withdraw the money into the checking account I was told I had another 2 business day delay. Since it is Saturday I will need to wait 4 more days to my money back (total 12 days) while they collected interest for 9-10 days. You won't make money with SOFI!! But they sure do at your expense!

I’ve been trying to use the app for a year. It sucks..customer service sucks…I even dumped their stock. Just called again, can't login. The rep couldn’t help. I deposited 50 bucks. Don't know how to get it out. I give up.

1 year and so far so good. Easy, fast, money moves with good interest return and the investment aspect gives good stock reviews and fast buy/sells. I think their app is hot and simple to use. Being an older person I wasn’t sure this kind of Tech-bank was going to trip my trigger and be user friendly but it is. As it costs zilch to open an account I’d say do like me and ease into it.

This was a horrible experience. I had a unauthorized charge on my account. I first initially had it taken off then they allowed that company to take the funds again when I stated to them stated. The customer service was horrible and not handling and doing the correct procedures. I was told they could not stop the pending process which was totally contradicting their written policy agreement stating that they are able to hold cancel the account of any charges that I did not authorize at any time. What time I requested a supervisor call back. Supervisor did not call back. They dropped my call five times. No one did a call back to me so this was a horrible experience.

When it comes to your hard earn money. I was unable to get my funds when I demanded a withdrawal and I was never attended to and they started declining my calls. I was unable to bear it anymore then I handed over the case to GAARD.iO and then I got my refund back after the authority has intervened.

I opened a Sofi account, and after less than a month with minimal deposits and withdrawals, they decided to close the account. Their customer service is horrible. I’ve been on the phone with them several times, and the people working customer service have no knowledge of anything. They can’t tell me why they are closing the account, and won’t connect me with anyone that can explain it. Worst yet I still have money in the account that I can’t access. Per customer service they’ll mail me a check when they finally close the account, but it’s been 3 months now with no progress, and every time I call I get the same run around, they can’t give me a time frame for when the account will be closed and I can get my money. It’s a scam. Stay away from them and use some other company.

I was never able to log in to my account properly after I deposited a 5-figure amount. When I tried to close it, I cannot link any external bank to transfer the money back, even the bank that I used to make the initial deposit isn't showing even though the other external bank is showing that I am currently linked to my SoFi account. How is that possible?? Now they have to mail my check but without a tracking number. According to the agent I was chatting with, the tracking number is only for them but cannot be shared with me! I am darn nervous now, I am crossing my fingers that I receive this check in the mail that will, according to them, take 7 to 10 business days to receive. I was trying to earn more on the high yield savings, but now I am wasting 2 weeks of interest waiting for my check in mail. What a waste of time dealing with this bank.

My friend who was a member of Sofi needed 3k so I wrote him a check. After he deposited the check the bank shut his account claiming fraud, I don’t know the whole story. Bottom line my money was never returned. I am in Tennessee, my bank contacted them and they still have my money, I filed a fraud report a couple of weeks ago but I still haven’t heard anything. My friend filed a BBB complaint and have yet to get my money. I will now file my own BBB report. STAY AWAY FROM THIS BANK, READ THE REVIEWS

I was locked out of my account with no warning and for no reason. I can not access any of my funds to pay my bills! I have done nothing wrong! They will not talk to me on the phone nor answer emails. They have my money and will not give it to me. I live on disability and am a disabled veteran on very low limited income and have to pay my bills! My car was repoed, my health insurance was canceled and I can't sign up again until end of this year and I had outpatient surgery I was to have that I had to cancel all for no reason and with no warning!! Again I have not done anything to have this done to me. I have reported it to FDIC and have an open case. I know there is nothing that will be done but if I could urge anyone to NOT go with Sofi please hear me!! They are not the bank to use!!! I have switched to Navy Federal and I pray things will be better. Stay away from Sofi!!!

SoFi makes big splashy offers but they only want high rollers at their bank. They want thousands and thousands of dollars deposited each month to keep high-yield savings.. Capital One is by far better and easier to work with. You get their high-yield rates without having to have crazy savings deposits each month.