Follow Us

Find an Online Banks partner

Help me decide
  1. Home
  2. Finance
  3. Online Banks
SoFi Money

Sofi Money

 3.9/5 (88 ratings)
  • 5 stars
  • 4 stars
  • 3 stars
  • 2 stars
  • 1 stars
Find an Online Banks partner

See suggested offers from our Partners

Great Prepaid Debit Cards We Recommend

Learn more

About Sofi Money

This profile has not been claimed by the company. See reviews below to learn more or submit your own review.

SoFi Money is an online bank that gives you the best of checking and savings in one account. The company’s hybrid accounts allow you to earn interest without paying account fees. SoFi offers a variety of products for borrowing, saving, spending and investing, including a student loan refinancing product.

Overall Satisfaction Rating

  • 5 stars
  • 4 stars
  • 3 stars
  • 2 stars
  • 1 stars

Pros

  • No account fees
  • No ATM fees
  • High APY

Cons

  • No physical locations

Bottom Line

SoFi Money is an online money management service with attractive benefits and features. While the company has no physical locations, the high interest yield and lack of fees make the service an appealing choice.

See suggested offers from our Partners

Great Prepaid Debit Cards We Recommend

Learn more

SoFi Money Reviews

Sort: Recent
Filter by: Any

A link has directed you to this review. Its location on this page may change next time you visit.

How do I know I can trust these reviews about SoFi Money?
How do I know I can trust these reviews about SoFi Money?
  • 3,468,020 reviews on ConsumerAffairs are verified.
  • We require contact information to ensure our reviewers are real.
  • We use intelligent software that helps us maintain the integrity of reviews.
  • Our moderators read all reviews to verify quality and helpfulness.

For more information about reviews on ConsumerAffairs.com please visit our FAQ.

Page 2 Reviews 10 - 40
Rated with 1 star
Verified Reviewer
Original review: April 3, 2020

Received offer for their CMA - went through the process of filling out the paperwork and despite being a millionaire, they denied me. I’m glad they did too, just look at all the problems people have here. This is such a bad company I’ve decided to buy everyone considering joining SoFi a free pizza from your favorite pizza place. Just HMU, I’ll call it in - up to one 5 topping pizza. Sorry, no breadsticks as my offer is only good for the first 40 million people that refuse to join SoFi and their pyramid scam.

27 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Dec. 30, 2019

** is my email. If you email me, ill provide you an attorney at no cost if you suffered any scams with Sofi. Please no sensitive information, just the basics of the claim, no personal information. As of this update, 191 people emailed me, if you check your email, i replied with several attorneys names and websites for you to choose. Some of sofi’s latest penalties for its fraud:

1)Sofi paid 2.4 MILLION for running loan apps WITHOUT approval.

2)Sofi paid FTC 110,000 for DECEPTIVE Advertising.

3)Sofi paid tax penalties for ILLEGALLY moving everyone into THEIR fund, conflict of interest and fraud.

Sofi has engaged in multiple crimes that the SEC and FINRA is CURRENTLY looking into on top of the prior ones they committed and paid huge fines for. They are doing bait and switch on the referral money. Looking on multiple review sites shows thousands of people complaining Sofi SCAMMED them on the referral money. They charged an ILLEGAL fee charging an incoming acat and blame it on the prior broker who both the prior broker and apex clearing BOTH said Sofi is the one who charged it. Sofi customer service reps lied on numerous recorded calls as in my state of ny, i can record them without them knowing.

Sofi then VIOLATED its OWN terms and conditions, since i filed arbitration in finra, and they admitted they made serious illegal actions, they VIOLATED their mandatory arbitration and filed a frivolous suit in my local supreme court with the intent to get an inexperienced judge, not finra who prosecutes these crimes daily to try and silence me. Sofi then hired an attorney who then harassed my family by serving the lawsuit on 4am 5am and 6am on christmas eve, which is illegal serving on top of a frivolous suit. They been begging me and threatening me to stop writing my FACTUAL reviews with EVIDENCE and continue to abuse the law. I encourage all victims to contact FINRA and SEC, and depending on your finances, you may get a fee waiver and sue for free to recoup any scammed funds from sofi.

Also apparently they illegally used my social to apply for a loan with them AFTER i was suing them so know i am suing them in finra Arbitration as well as federal court for FCRA Violations. They keep violating my first amendment by removing my FACTUAL review FRAUDULENTLY claiming it's false, fraud, i wasnt a customer and other lies. Luckily i am well financed with 99% assets in a cooks island trust, completely protected from frivolous suits and criminals like sofi. I am going in this for the long run and will post all public records as it moves forward unless they settle out of court. Also now im suing them for censorship for violating my first amendment by constantly fraudulently removing reviews. So they being sued for:

Violating my first amendment with censorship
Fraud
Negligence
Harassment
FCRA Violations by applying for loans randomly without consent
Breach of their own contract, terms and conditions
Frivolous suit
Blackmail

Bait and switch

I now have 4 attorneys who took this on, and they will help anyone who needs help with this criminal enterprise. Each time Sofi removes my FACTUAL review, ill pay for the first 10 people who email me full cost of attorneys to sue in finra arbitration.

26 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Nov. 25, 2019

Ughhh! If I could leave 0 stars, I would! I signed up solely because their advertising offer that theyll give you $50 when you do sign up. So I started an account almost 2 months ago & when I never saw the $50 they promised (surprise, surprise) I sent them an email asking about it... no reply. Sent another email a week later, still nothing! All in all, I've sent like 4 or 5 emails over these 2 months and NOTHING. No automatic reply, nothing. So that shows plenty on how they don't care about their customers. Their severe lack of customer service, because they can't even reply to a simple email. But the main thing being how they lie just to get people to sign up! I thought the look of the card was different and kind of cool, but the fact they're liars and can't even reply, don't waste your time with them!

Check out Varo or T Mobile Money. They have good offers and actually do follow through with what they offer when you sign up! My boyfriend has TMobile money (debit card) and what's awesome about them, is they have 24/7 customer service and you can overdraft up to $50 with no fees! I just switched to Varo and they have a good referal bonus where if you get someone to sign up and they put your name down, you both ACTUALLY RECEIVE $50, it's not just something they lie and say to get customers!

13 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Sept. 5, 2019

Do not use this company. They told me I was approved and had me submit everything under the sun and after doing so they decided I wasn’t approved anymore. I have a very good credit score. They wasted so much of my time!!

11 people found this review helpful
Rated with 5 stars
Verified Reviewer
Original review: Aug. 9, 2019

SoFi has a competitive high APR and moving money between my "brick and mortar banking accounts" and my SoFi account is a breeze...and without fees. I have given up on my credit union for any decent return.

11 people found this review helpful
Rated with 4 stars
Verified Reviewer
Original review: Aug. 1, 2019

I would consider them average although I haven't dealt with lots of pure online banks to be fair. As with any company nowadays being on hold is becoming standard. The agent was friendly and did know the answer to my question.

9 people found this review helpful
Rated with 4 stars
Verified Reviewer
Original review: July 30, 2019

I've been banking with SoFi for about 2 months and so far I'm really glad I opened up the SoFi Money account. I was getting 2.25% apr until the feds just dropped the interest rate, however it's still a respectable 2.00%which is 99% more than my Wells Fargo savings account pays out...ever. Setting up the account took about 30 seconds and was incredibly easy. I've had no issues transferring money into my account. My favorite part is being able to use an ATM card with $0 ATM fees and it's one of the biggest reasons I decided to go with SoFi. In fact they have $0 fees for virtually everything concerning their money management account.

My only issue is that when you transfer your money from one bank account into your SoFi bank account it's not actually insured while in transit and that can take a couple of days. So if something were to happen, say SoFi went bankrupt and your money didn't actually land in the bank yet, you will lose everything in the transfer. That's one reason I won't set up direct deposit and also because it takes 3 to 4 days until you can gain access to your money and who has that much time to wait to get money from their paycheck? So right now I'm in the process of slowly transferring my money from my savings account with WF into my SoFi account. With that being said, I'm happy so far with my decision to go with SoFi.

9 people found this review helpful
Loading more reviews...

SoFi Money Company Information

Company Name:
SoFi Money
Address:
2750 East Cottonwood Parkway #300
City:
Cottonwood Heights
State/Province:
UT
Postal Code:
84121
Country:
United States
Website:
www.sofi.com