SoFi Checking and Savings Reviews

So they told me all these perks to get me to sign up, because why wouldn’t you, right! Well come to find out they try to take advantage of you I feel, because they lied. I’ve noticed so far is they said that you will get $50 and the person who referred you will get $50 if you open the account and deposit $500 into the account. I deposited $500 in my account immediately I receive $25.00 a week later after I sent emails asking how the process worked (with no response from anyone). The person who referred me hasn’t received a dime I have contacted them through email and I have gotten no response. I also made sure I used the link my friend sent me to sign up. I’m very disappointed I don’t like when companies do this. What so they were hoping we didn’t notice??‍♀️ Shame.

Initially, SoFi was great. I liked that they cover ATM fees, have a great and useful app and good customer service. However, they decided to stop honoring the deposit of checks with a signature on file (in my case my paychecks as an independent contractor) without notice, which really put me in a financial jam and they are not taking any responsibility for the lack of communication on this. Instead, I was told to let my employer know that they need to change how they issue paychecks to me. Since they decided they will not be honoring paychecks from my employer, we are taking our banking elsewhere. Beware of changing policies at a drop of a hat without notice.

Very hard to dispute a charge with this company, spoke to many agents sent many documentations and still my claim was declined. Even though the company that took my money failed to provide services the bank said the case is close. All my disputes with Bank of America and Chase was taken care of quickly and to my satisfaction never had I have to send so in many documents proving that my flight was canceled and I still have yet to get my money returned or a voucher for future service. Sofi said, "Oh well the case is closed." I will be sticking to Bank of America and chase and be closing this account in a few months and move all my money out of it.

I set up a Sofi Account trying to use the new extended Tax Deadline. Their system showed I was approved for the account and allowed me to schedule a deposit for the MAX contribution. They failed to schedule the deposit and didn't create the account until July 16th. They then refused to fix their error costing me $1400 in tax refund.

When I first signed up, it took 4 weeks to get my debit card in the mail, I was already direct depositing my checks into my new account at this time but I couldn't access or spend my money because it took so long to get my card to me. I could forgive this, stuff happens and I understand delays, but it didn't set our relationship off to a promising start. That is fo-sho. I wanted to like SoFi, I really did. Crypto Investments? Whoa! Check. Stock market investing via mobile app? Awesome! No ATM fees or overdraft fees? Bonus points. Direct deposit and Mobile check cashing? Ok well, everyone offers that now, but still cool right?

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.

** 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:

I signed up for SoFi Money under the $50 bonus offer. I complied with ALL requirements. I even sent them print screens of the offer I responded to and of my transactions with the account--at their request. But they still would not honor their advertised offer. Since they only have a 2 Star rating here, apparently I'm not the only one having problems with them. There are other companies offering better rates and probably less drama. From my experience don't trust their advertised offers.

How can you get your money right when you hold Cash Deposits for 4 Days? That is WRONG!!!! Not Right. Banks take no more than 2 days and my Credit Union allows cash to be made available immediately. No Waiting whatsoever. WHY are you holding out MONEY for 4 DAYS? IT IS JUST NOT RIGHT!

Take your money easily but on day 5 of trying to withdraw over 8 hours on phone countless emails and nothing to satisfy them. Voided check from my bank account. Wasn't good enough then they made me delete my account and re-add it to try that and that didn't work and after three hours of being on the phone today he pretty much let me go cuz we couldn't figure it out. They're just safes.

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!

Coworker sent a referral link. Initially, the application was simple. It took only a few minutes. I was surprised and concerned it was denied. I have credit score above average and did not read that credit check is done for savings account. I receive prompt stating an email has been sent with further info. The email itself was vague and I called SoFI. I expressed concerns for lack of information after I provided specific info like my SSN. I told them I was married within this year but I legally changed my name and all documents reflected this life event.

Some people worry about the money not being secured until it reaches a partner bank, but just know that SoFi has never not let someone withdraw money (unless your account has been flagged for security). I use Sofi as a way to make money with money, This is an account that has APY better than my Wells Fargo account and most other major banks. I can access my money with no problem in the event of an emergency. You can withdraw money from any Visa ATM, this includes all; Wells Fargo, CHASE, and most other major banks ATMs. I love it. I only wish I had a physical bank to visit. But I don't ever go to my branch nowadays. If you use a referral code to sign up you also get $50 after a week of having your bank account with a balance of at least $100. Use my code if you decide to sign up. https://www.sofi.com/share/money/**/

Sofi never pays the referral bonuses, charges illegal fees and unauthorized charges, lies about many aspects of your invest account, and illegally seizes your money if you complain. The SEC, FINRA, Attorney General, FTC all seen my evidence and are opening an investigation. I have a call tomorrow with the FBI, and the media as well. This company uses false advertising and bait and switch to grow its clients and inflate its books without paying the agreed referral fees. They make false statements about your brokerage account and if you call 5 times, you get 5 answers... it should be 1 answer...

First, they wouldn't link my bank account so I couldn't send myself money to get the referral fee. Then after I finally get money sent to me the referral money poof never appears. After that, I try to link it to an existing bill and it says this account is not eligible to link with any of my cards. Ok I get it. My credit isn't 700 or above, but if my credit score doesn't make me eligible then why the heck did you approve the account in the first place? I can't even use it, other than to send money back to the person who sent it to me because they have an account. All in all, I don't recommend using this service if you don't have great credit because it's nothing more than a giant waste of time. Also, when I linked the debit card it said Costa Rica?! Seems a little fishy to me.

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.

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.

So I opened an account and fund it, I started to refer some of my friends to get the bonus 50x50x50. I checked my account today and my bank account disappeared without notice. So unprofessional! I would stay away from these kind of "new banking" companies. Well established banks would never do something like this, I had to email them today to figure it out what happened. Do they need to verify my information? Is it my credit score? Regardless of the reasons, I think they should be more transparent about their processes and they should get their process together. You can't just open accounts and close them as you wish.

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.

Opened an account with them and everything was going fine until I tried to connect another account to fund this one. They denied the link. Which makes no sense at all. How are you going to give someone an account then not let someone fund it. Company has several predatory issues as well.

I opened a sofi investment account. They send me $25 bonus right away after I opened my account as they promoted. Then I opened a Sofi Money account as I liked their %2.25 APY plus they had a bonus $100 after opening and transferring my first $100. And they also send me that $100 two days after I transferred the money. They have a referral program to invite friends and you both earn $50. I sent a link to a friend of mine the day she opened her account they put $50 in my and her account. I had questions couple of times and they responded right away. So far I am happy..

SoFi sent me an email offering their new SoFi Money savings account with a 2.25% APY and $100 bonus for signing up. I have done some investing in their SoFi Invest platform in the past so they have my info. I started to apply for the SoFi Money account but they said I would have to unfreeze my Experian credit file to complete the application. I unfroze it (my FICO score ranges between 760 and 800). I continued the application only to receive an error message saying that they couldn't verify some of my information. I then tried corresponding with 3 separate customer service representatives and the only answer I ever received was, "There's nothing we can do." Seems to me that a company that already hosts a brokerage account for me and sends me a targeted email offer for a product should reconsider providing their customers no service and non-answers. Lukas.

I'm new to stock trading. Fraud their system is screwed, very poor customer service. Messed up my account after a reverse split. Lost $ due to their system issue. After split shares highest value ever was $11+ and average cost for buying per share is $13.5+. Multiple times tried to contact them, they are always busy. Decided to try some other platform for trading. Start withdrawing money as much as I can from SoFi. DO NOT TRUST THEM. TRY OTHER PLATFORMS LIKE WEBUL OR ROBINHOOD.

I signed up for a Money account but they will not let me link my Chase checking account to transfer money over. They sent me some vague form response regarding their 3rd party reporting service. I emailed them multiple times in response and it's clear they don't care about me as a customer nor are they willing to make any effort to fix my problem. If they care that little about me as a person I don't want to trust them with my money.

I placed $100,000 into an account expecting to accrue the advertised 2.25% interest. My money was placed into an investment account. When I called to transfer the money into the correct account, I was placed on hold for a very long time then told there were no funds in the account. I was then told to contact the investment department (all departments have the same number). I tried that and the department was closed. Finally, I decided to close out the account and transfer the money back into my bank account. I'm now told it will take 4-6 days to do this. I am staying with the trusted banks I already use, Ally and Barclays which already pay a high interest rate. If you want a bank where it is impossible to reach someone to discuss your account then SoFi is your bank.

I sign up for a SoFi Money account. All went well, until they decided to close my account and never gave an actual reason. I have a credit score around 800. I actually hadn't done any transactions yet, so not sure what was the problem. I reached out to their "customer service" to try understanding the issue, but I just get BS boilerplate answers. I don't care if they rejected my application, but accepting it and then kicking you out shows how unprofessional this bunch of amateur banker wannabes is.

Don't waste your time with this company. They are clearly experiencing growing pains with the SoFi Money product and they do not have the time to appropriately and timely handle issues. Keep your money for over two weeks, refused to give it back. Screw them, boycott this company, they will run your credit without your permission. And lied to you, they run your credit so they can offer you loans if your credit is too low, they will closed the money. And you have to be fighting them to get your money back. Screw this company. Its marketing schemes They offer the money account as a front so they can run your credit to see if you Qualify for the loan. BOYCOTT Sofi. Scams.

I saw the ad for SoFi money on Facebook sounds like a great alternative to a regular bank right! Well signed up. Had a card within a week. Everything seems great. Started going through the app and learning how to invest my money. I added a few companies to my watch list trying to see how everything works. So I got on to my account about a week ago and it says I don't have a money account. So after having it linked to my other account still this is surprising. But when I sent an email asking why my account was gone I was told to look at the email that was sent.

Tried to open an IRA to have some tax deduction but ended up paying tax penalty instead. They are totally incompetent and understaffed. They cannot keep any deadline and if you want to get anything done, you'd better be on phone every single day. Otherwise, they will just keep promising and doing nothing. In nutshell, I applied for an IRA account on 4/9/2019 and after 5 chat/call with their support, I learnt today (5/3/2019) that they screwed it and cannot fix it. My deposit did not go thru for 2018. Needless to say that means a tax return correction, more tax and penalty to me while they just say sorry and walk away. I have never seen such incompetence at a financial institution. No way I can trust them with my IRA.

I started my relationship with SoFi to refinance my mortgage from 30 to 15 years at a better rate. Everything went smoothly, every promise was kept, and as a happy customer, I reviewed their portfolio. Next on my list? Consolidate and refinance a personal loan. Everything went smoothly, every promise was kept, and as a happy customer, I saw the benefits of consolidating my other business with them. A hybrid account that pays interest with no fees? Sign me up!

I originally deposited money in SoFi’s money account as their interest rate was better than the institution I was currently using. Their service during this period was acceptable as they quickly provided an ATM card and interest against my principal. This is where the good service ended. I transferred money from the money account to the investor account as I wanted to make some equity purchases. The transfer was recorded on April 16th, which completely debited the funds from the money account, only a small portion was provided in the investment account for usage.

I wish I read reviews here prior to signing up. Just like many others here, my account has been restricted with no notice, warning or communication. I found out after a payment I initiated from my credit card company bounced - I had more than enough funds in the account's "Available Balance". When I called to figure out what was going on, I was told my account was restricted on March 28th and would need 7-10 business days to resolve. During this time they sent me a push notification to setup my direct deposit to them? (Why would I send more money to be held hostage? I'm so thankful I didn't deposit more initially!)

I opened my account in January, only to have my account restricted in March, with an email saying my account is under review, and should be resolved in 7-10 business days. This was March 22, today is April 15 and my account is still restricted.

I honestly, have just had issues with logging in to set up a direct deposit. Something told me that this could be a sign and to read the reviews and BOY am I glad that I did. DO NOT put your MONEY in this institution until they start earning better reviews and providing different experiences. Cutting up my card and sticking with my current institution.

Updated on 04/16/2019: Here it is April 16th 2019. The company Sofi is still give me the run-around about getting my money. They still have my account frozen. I need help? Somebody help me? I don't know what to do anymore so if somebody is out there that had the same problem and finally got the money tell me how they did it.

Ok so, I had to do more research about SoFi, because for whatever reason, they froze my account without any type of explanation. The day they did it, 2 days ago, I sent them an email, letting them know, that if it was because I was transferring my money to different accounts, I have my reasons to do this, is some type of strategy that I learned to create relationships with other financial institutions, but at the same time, I wasn’t going to close my account with them, and they didn’t answer. Today I’m extra mega pissed, for obvious reasons, I NEED MY MONEY!!! And still haven’t received a ** email back.

If there was a zero that's what I would give them. I got my first deposit and they restricted my account just like they've done everyone else's. They said they were checking transactions but I have made no transactions other than the deposit. I have filed a complaint with the Better Business Bureau and I have also contacted my attorney. I have sent them emails telling them to close the account immediately and transfer my money back into the account I transferred it from. This is definitely some kind of scam. Buyer beware. Don't ever open any kind of account with this place. They suck you in with all of their good benefits as they call them and then freeze your account. My lawyer is prepared to seek legal action if necessary so I hope it's monetarily worth it to them over the amount that's in my account.

I opened a SoFi Money account because I fell for everything they had to offer. After a week of using my debit card and making small local transactions (grocery stores, etc.) they restricted my account and prevented me from using all of my money. I called their customer support multiple times in hopes of an answer as to why I have been the victim of such an inconvenience, and every time they say that they have no control over why it happened, always blaming an "inside team" for the decision. I have asked for the number of this "inside team" to reach out to them directly and instead they insist that they will be calling me.

The restriction was lifted on my account and I am very happy with that result. I do think how they handled the situation was poor and when a restriction needs to be placed on an account a phone call notifying the individual should take place. Finding out by your card declining only causes panic and confusion. The agents I spoke to besides the team leader were not equipped to handle this situation and this caused unnecessary stress. I understand this is a new product and it’s bound to have some trial and error but I believe the time that SoFi has been around they could have much better customer service than what was displayed. I still expect some follow up and will be in contact as this caused much stress.

I have money on my account and used my card twice and they restricted it. Now I stranded with my 2 yrs son cause I visited VA and I live in NC and can't get gas or a room and they said it's gonna taken 24 to 48 hours to review account. This is the worse.

Signed up and they deposited my checks then turn around and tell me they need to verify me after the checks been deposited. So now they are holding my money and stalling because they are trying to scam me out of my money. Terrible.