SofiReviews 20

I signed up for the first step not knowing that it requires a direct deposit an much more to receive bonuses. It also has sent me emails daily anywhere from one to five a day. I've requested that I be taken off the email list but I'm still receiving them.

Worst service! Continue to not allow access to pay check of only $1008. We have spoken with 6 different Sofi employees, 2 being Acct Mgrs over a week ago in regard to a pay check my daughter deposited. We've been told 6 different things ranging from deposit will be rejected because she can only deposit $500 a day. We took the pay check & she opened an acct else where. Mean while Sofi processed half of her deposit, $500 of $1008. Over a week later & still no access to funds & Sofi can't figure out how to complete the deposit of her check. Last Acct Mgr now says a ticket to the bank office should have been submitted. ETA now 1-2 weeks IF they "aren't swamped" with cases. Swamped means a lot of issues, careful with your money.

Date of experience: April 13,2024

Had an existing loan and got a pre-approval for refinancing. Was approved but then later was declined because according to the adverse action letter they couldn't verify my identity. Well, no one tried. Not one call was made. Now, keep in mind I already had a loan with this lender. Talked to a representative in chat, who provided the BS scripted response that they look at all things such as income, ability to pay, credit score, and current amount of debt and couldn't approve me at this time. I reiterated the sole reason listed on the adverse action letter and attempted to verify my identity with her. I typed out my mother's maiden name, DOB, and SS number. She stated again they could not approve me at this time. I stated this was bait & switch, which is illegal. Went to Discover, got another loan approved at a better rate, and paid the one I had with SoFi off. So, FU SoFi.

I submitted two complaints to the Consumer Financial Protection Bureau because I don't want anyone to have the same poor experience I had with them. This kind of bank tries to entice people with all their amazing products, but they are not genuine. I opened an account on January 6 with SoFi Bank. I transferred $500 from my checking account at Chase Bank. Then, I tried to deposit a check from my husband's job, and it got rejected. I don't understand why, because I have been depositing my husband's checks from the same company for eight years at Chase Bank and Santander Bank without any issues, so I kept asking what the problem was. However, they rejected it, and I deposited it in my Chase account without any problem. After that, they accused me of committing illegal activities and said they had to investigate. My account has been frozen for almost a month. I keep calling, but they do not provide me with an answer. I requested to speak to a manager, but they refused to provide me with the service. Since they rejected my husband's check, I don't understand why they keep freezing my account. They are not providing an answer and treated me very disrespectfully by hanging up the phone on me. Now, I received another email from them stating that they decided to close my account after their investigation revealed activity that indicates a violation of the SoFi Bank Deposit Account Agreement. So, they have decided to close my account without giving me the option to withdraw my money. They are mistaken. I have a clean record and excellent credit. That's fine because I will never do business with these dishonest people. It's their loss, but I want my money immediately because they don't have any evidence to suggest that I violated the law. I only transferred $500 from my Chase account where I receive my direct deposit from my job. I need to have the right to access my money and not have it held by them for baseless reasons. You cannot trust a bank that decides to do what they want with your money without any justification. They are not truthful and think they have the right to hold people's money without cause. They need to realize that people have rights, and without customers like us, they are nothing. They earn money thanks to us. Please make sure that you open an account with a trustworthy bank.

I signed an agreement for a personal loan for debt consolidation with SoFi. The terms presented that I believed I agreed to was a monthly payment of $919.75 with an APR of 15.970%. What I am actually being charged is $1,259.40 with an APR of 13.210%. What I was told by the company representative was that the monthly payment I was presented was the amount NOT INCLUDING interest. I have never ever in my life seen a presented monthly payment that did not include the amount of interest paid as well. I had no reason to suspect that the payment shown by SoFi was not the actual monthly payment. I was told by the company representative that there is absolutely no recourse, other than possibly refinancing the loan for a longer term, which will result in paying thousands of dollars of additional fees to SoFi. I am absolutely trapped and feel sick that I was deceived by a company in this way. Had I been presented up front with the actual monthly payment amount, I would not have gone through with the loan process because I would have known that it was out of my budget. This practice by SoFi is disgusting, deceptive, and actively against the best interest of the consumer.

Horrible choice for stock investing. Signed up for their "free" stock investing. Nothing but a pain. Bogus fees which they will refund if you catch it and call them. App is a joke and crashes as much as it works. The entire system crashed multiple times and you can't get to any of your accounts. Checking or investments. Would not recommend sofi to anyone.

I applied for a mortgage loan at SoFi. Have to say the person I spoke with, Auguste, went out of his way to help me. Turns outs I couldn't get a loan there because I live on Native American land, and only a handful of companies will lend. Auguste provided me names of other place where I could apply. I used to be in the banking business. So I only would give a good review only if they deserved it. If it was another, unnamed bank, I wouldn't have bothered. I really wanted to take the time to let the company know what a great employee they have. Those are hard to come by.

The app is really good. I easily uploaded all my documents as needed. There were no glitches. Very simple.

This company is an absolute scam. I have opened a checking and savings due to positive reviews and recommendations. I have had no problems until I funded the accounts with thousands of dollars at which time they froze everything giving me zero access to my funds. The customer service and security department (who supposedly handles these types of issues) is incompetent, inconsiderate, and unable to provide any information. The account was apparently frozen due to a mobile deposit in question. The deposit was made through the app via mobile deposit and was for a US Treasury check from a federal tax refund. Instead of placing a hold on the amount of the check in question, they froze all funds and are providing no updates or timeframes on how and when this will be addressed and rectified. They have a considerable balance frozen and I have zero recourse. I would not recommend this criminal enterprise to my worst enemy. BUYER BEWARE!

I recently had the misfortune of choosing SoFi Bank as my online banking option, and I must say it has been a terrible experience from start to finish. Despite their claims of being "free," there are several crucial aspects they conveniently fail to disclose. Allow me to shed light on the numerous issues I encountered.

Firstly, their customer service is nothing short of abysmal. When you encounter a problem or need assistance, don't expect any meaningful support. Their customer service representatives seem disinterested and lack the expertise needed to address your concerns effectively. It's a frustrating and time-consuming experience that will leave you more frustrated than when you started.

One major problem I faced was with mobile check deposits. Regardless of how long I had been making deposits from the same payroll, there were inexplicable delays in accessing my funds. Even though I had never experienced any returned checks, I found myself waiting well into the following week before gaining access to my own hard-earned money. This inconsistency and lack of transparency regarding deposit processing times were incredibly inconvenient and worrisome.

Another issue arises if you need to deposit cash into your account. Prepare to be shocked when you discover that you have to pay for the privilege. It's absurd to think that as a grown adult, you would have to incur additional costs just to deposit cash into your own account. This policy left me frustrated and questioning the logic behind such an unfair charge.

The cumulative effect of these problems took a severe toll on my emotional well-being. I found myself on the brink of an emotional breakdown, struggling to navigate SoFi Bank's cumbersome processes and being left feeling helpless.

In conclusion, I strongly advise against banking with SoFi Bank. Their hidden charges, abysmal customer service, delayed mobile check deposits, and exorbitant fees for cash deposits make it an incredibly frustrating and unreliable option. Save yourself the trouble and seek a more reliable and customer-centric online banking alternative.

It had great potential but their customer service isn't good, transactions even small ones take days to show up on your account and then days for it to stop pending. They repeat themselves if you speak facts that they can't rebuttal. I was told there's two types of available balances and we are only able to see one and responsible for any transactions we are not aware of due to not seeing both balances. Lots of idk and pauses from customer service when they see you are right but don't know what to say about it. Someone higher up emailed me, said her peice, and said the communication line is closed. That is extremely disrespectful, you dont contact someone about an issue and tell them they cant respond to you like im some child! Never had to deal with such foolery at any other bank I've been to. They wont even take my screenshots of proof. Guess that's why they have to jeep interest rates so competitive.

This company is a joke, they are also not certified by BBB for which I have reported them. They provide loans, their customer service tell you loan is approved and to submit all documentation, then they sent you a letter disapproved due to having a joint account and not having proof of my bank account. The company could have disapproved me, yet they will decrease your credit score while disapproval. That is unethical

They took all of my money and left me with nothing, i tried to contact the authorities but they just couldn't help me, i was introduced to broadoak-capital com by a friend and i still thank God for that day because through them i was able to get all my money back.

S T A Y A W A Y

NEGATIVE STARS

This entity will hold YOUR funds - YOUR property - to make interest off it. And make excuses.

Incompetence & lies... where do I begin? Called a few weeks ago to inquire about a money (cash management) account AND a brokerage account. First rep I spoke with on the phone told me only "soft pull" and LexisNexis report. Second rep was clueless. Opened a brokerage account last week. Opened money account this morning. Called this morning and spoke to third rep who confirmed they pull both chexsystems & EWS report! "Dear Sofi... you just applied for your bank charter license! You're not GOOD ENOUGH to pull those reports!" And if a customer asks you point blank if you pull chexsystems and EWS, your reps better have that "basic knowledge" that most bankers and advisors learn in their FIRST WEEK OF TRAINING! TD Ameritrade, Etrade, Fidelity, Firstrade, Tradestation, Tastyworks, Robinhood, and Webull do NOT use either Chex or EWS reports or their brokerage accounts! Hell... even the personal banks I keep my money in that are established who have been in business for 10 to 15 years or more don't use either of those reports! I guess Sofi thinks "they're special"? At any rate, I immediately closed BOTH accounts down after learning of Chex & EWS pull. And by the way... their investment reps like to play games on the phone and will answer a call and mute it and not say anything so that you'll have to hang up and call back! Average wait time is almost an hour! This doesn't even include the multiple times I was hung up on! Invest at your own risk with shady morons!

Sofi

I setup a Sofi Account to pay for a significant purchase. It took about a week for an electronic transfer to to complete. The recipient setup a Sofi account to receive payment. While the maximum monthly transfer limit ($3,000) was discoverable, the daily limit ($250) was not and this has introduced a hardship completing the transaction. Customer service was adamantly unhelpful and did not offer any assistance to speed up the transaction. Also the incentives for referrals are not manifesting. I question the transparency and usefulness of Sofi in the future. I definitely will not be conducting any more business with this group.

UPDATE 1:
There was a link on my Sofi Dashboard "Email CEO". Instead of the CEO Anthony Noto responding, an underling "Jennifer" replied. She refused to read the Sofi reviews for security drivel. I sent a screen shot, which was acknowledged. However I'm still throttled at the minimum amount and it will take two weeks of sending the minimum every day to complete the transaction.

Not a very responsive service and I don't recommend them.