SoFi Reviews

Took a loan a long time ago to pay off cc debt. That went well and the APR was much better than the credit cards. However, looking into the HYSA with offers of 4% or more, and NOT FINDING OUT UNTIL AFTER SIGNING UP FOR ACCOUNTS that the rate is really 1% unless you pay for their SoFi Plus program, have 5k of monthly direct deposits,, and other requirements not divulged until after you set up accounts with them. That was dirty, and I'm out and cancelled the accounts.

I sold my home and put my proceeds into a Sofi savings account to earn their "special offer" of earning 4.5% interest on my account. Within a month, they had lowered my interest rate and sent an email telling me so. When I called, they said it was because of changes in the market. (The market is up, by the way.) The offer was to last for six months. They totally scammed me. I'm a 74-year-old widow living on Social Security so I guess I'm a prime target. Stupid me.

I submitted the initial loan information and within a day I started getting a lot of spam associated with the email address used. Each day I got more spam. They obviously sold my email address to a lot of businesses.

OK bank if you only use their credit card. For any real banking needs, stay FAR away. They have an arbitrary daily limit of $50K for ACH transactions, and take five days (yes, FIVE DAYS) to do an ACH transaction. Bush League. Their assistance is a robo chat that escalates to a noob human who is poorly trained and of little help. If you need real banking services, do yourself a favor and go to a real bank.

I will keep saying it and repeat it again, if you have not tried Sofi then you are really missing out. They are absolutely awesome!! People kept telling me on well you will lose your personal service and one on one customer service! Not a chance. I don’t care that they are not in front of me. They are without a doubt the best service I’ve ever had. I’ve gotten more customer service and support from this online banking team that I ever did in person. Do not let the thought of an online bank scare you, if these guys keep going the way they are. I want to work for them cause I’m a customer service trainer and they all are spectacular in both service and options.

I’ve got an 808 credit score and make over 100K a year — and they still treated me like I didn’t matter. Customer service is a mess, language barrier everywhere, and they clearly don’t understand crypto (which they act like isn’t even an asset). Feels like all they care about is clicks, not customers. Don’t waste your time — skip their ads and move on.

Customer service is not great. They share tour data with 3rd party joint marketing partners. Especially insurance. Then these partners turn around and invoke SoFi is their marketing spiel to scare you into giving more data or even purchasing insurance you do not need. Scare tactics in the name of SoFi. I called SoFi to get a list of these partners, and was transferred to 5 different people, each passing the buck. “We don’t have that list read your terms and conditions “ I did. If they are sharing (selling) your data mentioned in the terms and conditions, shouldn’t that list be available to your customers.

This company does not have its customers' best interest in mind. They have terrible customer service and are not willing to help their clients at all. Do not put your money in their hands and do not give them any of your business.

This bank holds policies that discriminate literally only against disabled people. Their employees refuse to listen. They will regurgitate "I'm sorry for that experience," and then go on to do the exact same discriminating.

Very misleading advertising. I wanted to sign up for the 4.5% interest rate. You have to make an account before you see that you only make 1% interest. If you want to pay $10 per month, you can make 3.8% interest. There are so many tricks and twists. If you meet a bunch of criteria you can get 4.5% for 6 months. But if you ever stop your direct deposit, you pay $10 per month. What a ripoff. With the online reviews being so negative and the robo-chat helpdesk, I think I will cut my losses now and look elsewhere. I got suckered by the high rate advertisement.

SOFI Heloc requires an instant draw of 90% resulting in it not actually being a HELOC. As well, the line of credit is only open 3 years. They additionally charge and absorb an amount of administration and origination fees. If you value money, time, and efficiency, SoFi is the last bank on earth to do business with.

Apply for a loan. Received notification that it was approved at 11:33 on 8/28. Then signed Truth in Lending documents only to receive a letter via email to inform me that I was denied due to.."they aren't able to offer the terms I requested". WTH.. Sofi stated the terms, I just agreed to them. When called, I was informed that they could verify my banking information even with a voided check. Simply....Awful.. Never doing business with them again!

Unacceptable support. It should not take three chats and three phone calls to resolve. The application frequently messes up. Not clear directions, if you make one change it can easily throw you out. The empathy expressed by the representatives is inaccurate and not helpful. Do not use SOFI!

Very negative experience with this incompetent company. Representatives provide false information, and they do not honor their promises. I'm taking my business elsewhere, as companies should be loyal to their customers and honest.

Started using this bank instead of Fifth Third (a brick and mortar bank) in July of 2025. I hate it. They have lied about everything. I thought I was getting a $300 bonus for being a new customer but I only got $50. Somehow I was 3 days shy of getting my next paycheck which would have gotten me the $300. $50 is NOTHING! If you said direct any money into investing, you have to wait days before you can withdraw it if you decide too. Loan companies often don't recognize places like Sofi as a real bank because they aren't brick and mortar. I got turned down for a loan because of this. I feel like they sucker you in and it's one lie after another. Don't do it. Go to or start with a brick and mortar bank.

Complaint against SoFi Bank NA. On Friday, August 2nd 2025, I was notified by SoFi bank that my account was locked due to unusual activity. I checked my account and found $240 missing and a notification that an Apple phone accessed my account. I immediately called and reported the theft and asked them to stop the transaction. I was told I had to wait until it went through and to file a dispute.

I contacted them 2 months ago to possibly take out an equity loan to consolidate debt. I was asked to complete all the documents uploading which I did. Never heard back, my application got closed without notice. I tried contacting them, then I was told my case was being reassigned. The man it was reassigned to I reached out, he promised me a call back either way, never happened. Then out of the blue I get a sales pitch call asking how they can help? I literally applied for a loan uploaded docs and he had no clue what I was talking about, he also Never called back. Worst company ever. No one kept their promises and without even notifying me closed my case, never even got to an underwriter for review.

I had a terrible experience with SoFi for my mortgage loan. After receiving a pre-approval letter and submitting all the requested financial documents, I was confident we were on track to close on time. However, just one week before closing, my loan was denied. Fortunately, my realtor helped me find a new lender who was able to get everything sorted out. That lender informed me that based on the documents I provided, SoFi should have been able to tell me within 48 hours that my loan would be denied. The lack of communication and transparency from SoFi was extremely disappointing and nearly cost me my home. I strongly advise against using them for a mortgage loan. I wish I had seen the reviews here before working with them.

Run away! It has been 30 days; I am making my first payment on my loan and still have yet to receive all the funds! They refuse to hold off on payment until issue is resolved. No one is taking accountability, and I am out $7300, defaulted on the loan that the money was meant to pay and now am in collections, receiving fees AND these clowns are not helping. Emails, phone calls, live chat and everyone keeps giving me a different story. I have contacted CFPB and tomorrow morning an attorney. This place is fraudulent!

My experience started off great and their loans helped me a lot. However, despite paying them 10's of thousands and interest and having a PERFECT payment history over 4 years, they've decided they don't want to do business with me anymore. People on the phone are useless. Online communication is just a stupid AI chatbot. Just as well. In this day and age if you're using credit you're doing it wrong. Your job is not secure. Companies, like this, want to automate everything with AI then wonder where their customers went. LOL. Do whatever you have to do to get out of debt and just let companies like this rot. We're better off without them.

If all you need is a simple checking and savings, and don't use cash at all, then it's pretty good. Want to deposit cash? Too bad. The majority of the greendot locations saying they accept cash deposit (with card OR account) don't actually accept deposits. Wasting days of your time. Speaking of wasting time and energy, attempting to get a student loan through their web client freaks out if you accidentally upload the wrong document. Got in contact with support 4+ times, gave every document prompted and more, met every requirement and beyond, took months being told it was being processed. Application cancelled. Why? The application expired. Lol.

Long story short my balance after two payments is higher than the original loan amount. My engagement with SoFi started positive enough. A debt consolidation loan for 40K at a lower interest rate than the majority of the debt and credit cards. I was charged an origination fee of 10% so the actual distributed amount was 36K. 20% interest with a payment of $1071.74. So, the original balance due was 40K and after the first payment the loan balance is $40,164.33. Since the interest accrues daily the balance at the time of the first payment was $40,702.13. I am amazed that prior to the first scheduled payment the balance was higher than the original loan amount. I would not recommend their services. Please read the fine print.

I have personal loans with Sofi which I've been paying religiously. My last auto-pay somehow was cancelled and I paid it two days late. I am 82 years old, living on Social Security and called Customer Service and asked for the interest penalty to be forgiven. I was told. "We don't so that." NICE BANK!!

Amazing! I use SoFi for school loans and it’s easy to make payments. Best rate I could find. The company is functional. Customer service is available and I have also use their other services like checking account and high interest yield on savings. I recommend using Sofi as they have multiple products that you can use. Some more than others but all functional from one place.

Together Just to get you off the phone. I REPEAT DO NOT USE THESE CROOKS. THEY WILL MAKE YOUR LIFE A WALKING TALKING HELL.

This company kept sending me information to consolidate my credit cards and loans. Too bad they advertise they are helpful and can cut your costs, but they have never helped me. They have never provided me with a loan to cut my costs, and they have wasted my time. Please do not waste your time with this company. They are less than helpful!!

I paid off my personal loan, there was an $185 interest balance. They wouldn’t remove the interest charge. After paying off $23,000, they wouldn’t help. I will never do business with the company again.

Got a personal one with them to consolidate. I have great credit so the offer was a rate I liked. I even opened a checking/ savings account with them. After I received my documentation, (after the fact) my rate was higher. They never did explain it. I do not trust them at all.

I loved So-Fi when I first opened an account with them. However, I had an unauthorized charge on my account- the agent that took the dispute was rude and condescending. They also denied my request without reason just stating they won’t reopen it unless there’s something new added to it. Reach out multiples time to them about this and received no response.

I applied for a loan with SoFi, submitted all required documentation, and was told by Cesar that the loan was approved and funds would be deposited within 24 hours. That never happened. The portal still showed "waiting for approval," yet no one contacted me to explain the delay. I followed up multiple times—calls, app messages, and emails—with no response. After four days, Larita finally replied via email, stating the loan had been declined. Still, no formal denial letter was ever sent.

I paid off a loan with SoFi, yet they still took out a payment from my bank account after assuring me this would not happen. I contacted them several times for a refund & was told it would take a couple of weeks. I said this was unacceptable. I paid my loan off & the money was instantly taken out of my bank account to do so. Why does it take up to 2 weeks to pay ME? I would stay away from this so called "bank"! Lousy customer service. When I asked to speak to a manager to escalate the issue, I was told there is no one higher than the person I spoke with. Hard to believe!

I applied at SOFI and the process was a nightmare. I had a loan officer assigned to my case, Tyler ** who assured me that he would be with me the during the process. Once the appraisal was ordered on my property, the problems got incredibly worse. The appraiser was a seasoned veteran who was well respected by our real estate community. He wrote a very detailed appraisal and submitted it. SOFI challenged it several times, each time requiring him to resubmit to fit their program and refused to accept his comparables. He spent several hours, in addition to the constant questions from SOFI. This was confusing because the loan to value was extremely low.

I applied for and was accepted for a SoFi cc to take advantage of the promotional balance transfer offer. However, the app will not let me transfer to the card I want; it keeps giving an invalid account error message. It is to a Navy Fed cc, not a small institution. Multiple customer service app chats, I couldn't call because they won't let you speak to someone without the last four digits of the card number. It took me over a month to get the card, possibly a "mailing error." Customer service states it's sorry it doesn't work with my institution, but they cannot tell me what institutions it would work with either, and I don't have any other balances to transfer anyway. Only reason I got the card was for the promotional offer. Not a fan.

I made a selection error on my loan app and wanted to correct it within an hour. They refused the request and told me my loan had already been approved and it was impossible. The request was to go without the origination fee. They said it could not be changed and the loan could not be stopped. Said it was already in funding although it clearly said it would be funded in 2- 3 business days. This was on a Saturday morning at 8 am.

I applied with Sofi and before I did I ask them about the income part. Can I used everyone income that live in the household or just mine. I was told everyone would do. I ask him that before I would complete the application due to the fact that just mine alone will not work but credit score it's great. I didn't want my credit score to be ding or go through the whole process of the application with just my income. He reinsure me that I can use everyone. So I did and they decline me because unable to approve my income. But yet if I had a cosigner then they would look at it so before I can do that they send me a letter saying they regret the they was unable to approve me. So a hard hit, waste my time, score went down 3 points and no loan. All they can said sorry they told me everyone income.

If you businessmen or hardworking person don't waste your time. Was pre-approved on Credit Karma for personal loan 34500$ was needed only 22000 to consolidate some debt. Credit score 833 credit utilization less than 6% Gross from all businesses 235k own appt lease a car never bankrupt or anything.... declined. First they asked pay stubs, then employer verification took 3 days with multiple emails and calls, then asked for tax returns and so on, so on... STAY AWAY from these people.

I wish I would have looked at these reviews before I decided to go with them for a personal loan. The application process was simple and getting the money was fast, however my first payment has been a nightmare. If you don't want auto pay through them, continuously check to make sure SoFi doesn't set it up for you. I set up auto pay through my own bank, making weekly payments so when the first payment was due, it would already have been paid. They continued to send me emails advertising that I would get a .5% decrease on my percentage rate for my loan if I set up auto pay with them. I ignored the emails because I was already making my weekly payments. A few days before the first due date (which at this time, my payment amount was already paid) they sent me a notice indicating they were going to take out the full payment amount. I went out to my account and magically my auto pay had been set up!!!

I am trying to pay my bill. I had filed for Chapter 13 and then withdrew it. It has been at least 4 months. I have sent documentation several times to them in Salt Lake City. They always claim it was not received even though I sent certified mail. They continually refuse to acknowledge receipt of anything. I am going to my local media and filing a complaint with the attorney General office and anywhere else I can.

Do not trust this bank. I opened an account 2 months ago. Shortly after added my wife as a joint holder. The next day there was an unauthorized transaction. Then 2 more. The 4th transaction was an ACH transfer to a bank we do not know. They refunded the money, but the next day or 2 the same ACH transfer happened again. Now they are refusing to refund the money. We've been lied to several times when speaking to them. Also, I hate the fact that they outsource their calls to the Philippines. We have had nothing but a horrible experience with this bank. DON'T AFFILIATE YOURSELVES WITH THEM.

Horrible service, no support for app or correcting errors on it. Stick with mainstream lenders that can afford proper support, unless you want to waste your time and deal with only out of country support.