SoFi Reviews 10,787

CONSUMER BEWARE!!!

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

1. Consumers should know that it is not a completely free checking account as one is made to believe.
- If you want to deposit cash; you need to do it through a 3rd party retailer; I.e. 7eleven and pay $6.95 to DEPOSIT money into your account every time.

2. If your employer is not big enough to offer direct deposit; you will need to deposit via photos through the app.
- 0% of the check is made available upon deposit.

- They state it may take 3-5 business days for funds to be available. They will "hold" your funds. You will see the funds in your account in the full balance but the "hold" prevents it from being in the available balance. I confirmed through my employer that funds were deducted from his account from Sofi. Sofi kept my funds in hold for 48 hours which they claimed was a fraud prevention measure.
----Seems more along the lines of fraud for profit that Sofi is dancing on. If Sofi "held" $500 from 100,000 people; that would be $50 million dollars in "holding" for 48 hours; they would earn $1,096,000 in interest in just a simply basic savings account in 48 hours that is theirs and no one else can claim.

- My paycheck; from the same employer; from the same business bank account was deposited first thing this morning on 3/23 and will not be available until 3/30 in an account that is seasoned over a year and multiple checks have been received and cleared from the same source already.

3. If you want to speak to a live human; good luck and hope you don't go on the "wild goose chase" for hours.

4. The atm's you must use are not atm's within banks. You must use the portable atm's at 7eleven, retailers, etc.. The ones that pose the most risk of encountering card readers that record your information for the purpose of identity theft as these atm's are not watched; usually placed towards the back of store; and easily accessible for would-be identity thieves to install card reading equipment.

I thought Sofi was suppose to be a technologically advanced company. So you would think they would be ahead of the curve on mobile depositing. The major banks like Citibank, Wells fargo, Chase, and Capital One are years ahead of SoFi in this category. Needing a full week to clear a paycheck in an account that has been open for an extended period of time is unacceptable. Especially when this is no where near the the first paycheck from the same source.

Save yourself the aggravation that I am going through and stick to traditional banking. One where you can walk into a brick and mortar building and speak to a human.

They closed my account

I was looking for a loan to pay off credit cards and also personal loans

Me gusto como a Blas

March 20th, 2026
To whom it may concern,
On March 12th, 2026 at 9.41pm I received a text from Sofi Bank asking me if I made a Transaction of $591. thru PayPal and to respond Yes (Y) if I did or No (N) if I didn’t, so I responded No. Then I immediately called them to confirm and to refute the charge. Upon reviewing my account, the representative asked if I a similar charge of 581., thru PayPal, was mine, which I said no. We reviewed my account and found one other charge of $1.00 wasn’t authorized as well. The agent informed me that I had to wait, they would contact PayPal, and the charge was still pending, which didn’t make sense to me because whenever I make a transaction with a company called Pure Encapsulate/Douglas Labs, Sofi always send me a text to confirm or deny the purchase before they will allow it to go thru!
I followed up via phone March 13th, 10.49am, and March 16th, 9.04am, and was told it must go thru Sofi’s review and Sofi would email me their decision!
On March 20th, I received the email, and they denied my dispute citing that I had made the transactions based on my transaction with PayPal back in 2023! So I called Sofi starting at 7am Est, then back at 8.05am, requesting to speak with a supervisor.. After about 20 minutes of holding, I finally spoke to someone and explained my dispute, my disagreement and reasoning with their decision, and was informed initially that I had no recourse because the decision was already made! I persisted with my reasoning and informed the supervisor that that was my Social Security money and were accessory’s because they didn’t act promptly to prevent it. I informed them that I would proceed with a letter of complaint to the FDIC, The Better Business Bureau, The FBI, The Police, The CFPB, and post this on social media. Then I was informed that I could reply to an appeal thru the email, which isn’t very clear. Sofi’s untimely or lack of or delay in their response could have prevented this, especially since I informed them immediately after being notified by them!
I was informed that Sofi’s decision was based on the 2023 transaction! So Sofi decided that a transaction made in 2023 before I retired was reason to not believe me, even when I informed thm that the current charges were fraudulent? I feel betrayed, robbed, and rapped by Sofi, by their lack of concern, laissez-faire response, and non-urgent attitude greatly contribute to or caused this. As I stated to the supervisor, they’re a member of the FDIC, are insured, and protecting the consumer from fraud should be a priority, especially seniors but any person as well!
On March 20th at 10am I contacted PayPal, and they informed me that they didn’t authorize the transactions nor did it go thru PayPal but Sofi was scammed and defrauded, and inform Sofi to return my funds. PayPal also cancelled my account with Sofi to prevent any other fraudulent activity. The agent Ian was very helpful and informative.
Sincerely & Upset,
James Edward Walker Jr

Joke of a loan experience, 770 credit score and they made me jump through such a degrading amount of hoops. Never use them, they're incredibly rude too.

Its impossible to get the Sofi 2% cash back credit card. I have 770 credit score and still get rejected. They have No reconsideration line.

It's very helpful

In order to utilize their product, I would have to verify ID. No option being given. A hyped up firm awaiting its media res destruction, possibly shocking and so swift it won’t be able to put its dukes up. Like some Americans individual, maybe companies like this—collectively. O happy day? Time will tell.

Do not attempt to deposit a mobile check. It takes up to a week. And the worst part is that it’s a government check from a tax return. Save yourself the time and just cash it somewhere else. Also customer services useless.

My account was hacked and there was a clearly different access and authentication method during the fraud and Sofi refuses to cover the fraud and making ME accountable for the fraudulent charges. Since there is a clearly different login pattern this should be reviewed internally and used to enhance their security and used to educate other consumers. after 2 months, and being put on hold and transferred, and being a good customer over 5 years, it's ridiculous.

My experience with obtaining a loan through SoFi was seamless. My goal was to consolidate some credit card debt to lower my monthly payments, and to see a light at the end of the tunnel.

My goals were achieved, and quickly. From the time I started the application until the time I was approved, was about an hour-maybe less! My new monthly payment is significantly lower, my debt will be paid off in five years (light at the end of the tunnel), my interest rate was cut in half compared to the credit card companies, and my personal credit score has increased significantly since obtaining the loan, due to paying off maxed out cards.
My recommendation if consolidating multiple cards is to have SoFi pay the credit card companies directly rather than having the money deposited and paying them yourself. I don’t know whether or not my theory is correct, but I wonder if by doing so, if it may have helped my loan approval process go so smoothly.
Overall, I feel a huge sense of relief, and would highly recommend this company.

This app is a great financial planner

Absolutely awful customer service.

Their live chat is a useless ai robot that cannot understand simple issues.

Their phone support is just as useless. Untrained agents that would rather over talk and hang up on you than actually help.

10.5 hours today to try and dispute a charge. Only to be on hold and hung up on the whole time and never got my issue resolved.

When you are considering this bank RUN!!

We went to Zelle our landlord money and it said "payment failed" even though we had the funds in our account. Then the money NEVER returned to our account and it's been 2 weeks that they've had our money.. we keep contacting the bank and all they say is "we're working hard to get it back to you" or "the refund has been issued you should receive it today" and even that was days ago.

We have constant issues with SoFi, such as our card being locked for activity they thought was "suspicious" even though it was just me getting gas at a Circle K. I can't warn you enough, do NOT bank with these people.

I got free Robux

I’ve had my account for over 2 years, I’m a college student and get GI benefits from the VA deposited. I keep my account clean, haven’t ever been “in trouble” with the account, and except for having someone steal my identity never had any issues. Received an email today, stating my account is being closed after an “internal review” and that I have 10 days to change over anything and to stop payments and find a new bank. When I contacted the bank to verify that this is true, they said it was, and it was for violating the “terms and agreements” but can’t specify WHAT I violated at all, so I have no idea what’s going on. While I thought it was a pretty cool online bank that I could easily have, be forewarned they can and will close your account without actually stating any reason aside from “violating terms and conditions” and also cannot specify when this violation occurred either, apparently they “random” review and close whenever they want. I absolutely DO NOT recommend this bank. Thankfully I have a main bank I use, but now have to worry about transferring all my school funds and accounts out of this one to a new one in 10 days or I probably won’t ever see that money again.

Horrible customer service for Morgage loans. Did not get my pre-approval on time because the loan officer had surgery and so did his dog. Sofi customer service told me it was very unfortunate but they had the time to pull my credit! Horrible horrible unacceptable customer service

Excellent and easy to apply. Great interest rate. The best help to improve family finances and amazing support for home remodeling.