SoFi Reviews 10,787

Their interest rates on savings is not bad, but they have a deal where if you want 4.5% you have to pay $10/month for Plus. However, the 4.5% is on a max deposit of $20K. If you do the math you can see the $10 a month charge more or less obliterates the extra interest you get over regular non-Plus account rates (currently 4%).
Scammy.

Also, they are now using an LLM type bot that answers the phone and pretends to be a human representative. There is no warning or indication it is not a real person. It becomes obvious quickly because it repeats itself and cannot answer anything but the most simple of questions. It is annoyingly stupid and irritating to try to converse with it and it is obnoxious that SoFi treats its customers with such disrespect.

Another bad thing is the $30 wire fee which is excessive.

The good thing about SoFi is that it does have early paycheck and also does money transfers in a fairly reasonable amount of time.
Customer service (if you can get a human these days) is also reasonably good.

Bait and switch
- SoFi advertises that they have options to help you when you have a lot of debt and subsequently fall behind. However , after giving you the loan, when you ask for help, they have nothing but scripted options. If you don’t fit the criteria, they continue to demand payment and provide no additional assistance. If you are trying to make some payments , they would rather you go in default, and write off the debt instead of working on a permanent plan. They send texts saying they have options, but when you log into your account, there aren’t any options, just a demand for payment. They only provide temporary fixes not long term solutions.

The whole loan application process was very easy and I was able to upload everything I needed via my smartphone.

Thank goodness for SOFI. All my credit card balances are rolled into one payment now and I feel like I have a lot more breathing room.

I really could not be more grateful that they took a chance on me.

Waste of time and energy. Basically gathering your information to sell

I use sofi for my direct deposit for my paychecks . Because of this ,they are fully aware of my income, so credit limit increases or loans are almost totally seamless with responsible usage. I'm in the process of rebuilding my life and SoFi has made easy. it's the best banking experience I've ever had honestly. I've used this account to rebuild my credit in less than a year. The app has an amazing user interface. I was able to get my taxes done through the app. I run my major credit through them . I literally have zero complaints. I would give them 6 stars if I could.

Charging long-term credit card holders 10 dollars/mo. and I call the same day to dispute and refusing to reverse is bad business. You hide behind some email that probably went to a spam folder as evidence of communication about the fee is also bad business. I (along with many others I'm sure) will not be banking or using credit with SOFI ever again. I hope the ten dollar money grab was worth it.

SoFi put me through the wringer to give them proof of income etc. then they wanted me to get employment verification…I reached out to my HR. My HR sent them an email to confirm my employment through experian. Instead of reaching out to me and letting me know they were unable to verify through experian they just denied my application. At no point did anyone reach out to me to explain this, they just denied the whole application. Mind you I have good income and a decent credit score. Now I have a hard mark on my credit for no reason. They have absolutely horrible communication. I do not recommend obtaining a loan from them.

The experience online, I received in receiving a personal loan was awesome and easy. Completed the application online and within a day or so I was approved. I

THIS WEBSITE IS SO GOOD

I was guaranteed to be approved by Credit Karma with my credit. I went to SoFi and submitted all documents “AFTER” they had already pulled a hard credit check. They played me along like If be approved. On my Credit Karma App, they ask for your annual income, in which I put $100k, which was off the top of my head. After I submitted my proof of income, it only totaled 93,648 (off by $6352 in which they asked me to show the missing $6352. I explained that the 100k was just a figure off the top of my head. In the end, they denied me my loan and the letter stated my credit score was 817, with the reason for denial the “ STANDARD” BS, they all say. They denied me with an EXCELLENT CREDIT history and documented 817. More than 1/2 of my loan was paying off another which basically covered my monthly payment and left me some for home improvements. I have to say that in the end it worked out as a Michigan Credit Union through Happy Money on Credit Karma, approved my loan with a full percentage point less than SoFi. This required another hard pull which is fine, because they saw everything up front before doing so. SoFi on the other hand, pulled a hard credit and then asked for documentation. I’m pissed because we all know hard pulls put a ding on your credit and I’ve worked hard to keep mine healthy. Don’t be fooled by their BS on Credit Karma!

I recently changed my direct deposit to SoFi from Cash App because of the great reviews I haven’t had the experience that everyone else have Their service seems incredibly slow compared to my other banks. Did a mobile deposit on Friday afternoon for only $43 and it didn’t post til the following Tuesday it’s now Thursday and I still have see it clear on my account. I thought something was wrong but it still on hold. I’m pissed because if I would’ve did thi through my other bank it would’ve cleared in two days.

I WILL PICK A DATE BUT THIS HAS BEEN IN 2021-2022 THEY STOLE $20,000 DOLLARS BECAUSE SOMEONE SENT IT TO ME AND THE PERSON MADE A MISTAKE AND SENT IT IN THEIR NAME BY ACCIDENT
SO OF COURSE THEY CLAIMED FRAUD STOLE THAT MONEY AND ALSO STOLE MY STOCK MONEY AND SOME TAX MONEY

"If you value your financial security and your mental health, STAY AWAY FROM SOFI.
I am a 75-year-old professional who was a victim of a targeted financial scam and elder exploitation. Despite providing SoFi with overwhelming, official documentation—including an Active Police Report, an investigation by the Department of Children and Families (DCF), and a Medical Certification from my psychologist stating I lacked the mental capacity to provide consent—SoFi chose to ignore it all.
They are completely negligent and indifferent to the exploitation of senior citizens. They prefer to protect a fraudulent debt rather than acknowledge official legal and medical evidence. Their 'investigative' team is robotic and heartless. They do not follow the law, and they do not protect their customers.
Do not be fooled by their marketing. If you are a senior or have elderly parents, find a bank that actually respects the law and human decency. SoFi is complicit in allowing fraud to stand by ignoring the authorities. YOU HAVE BEEN WARNED."

They were fine at first but in the last six months it's been a wreck. I've linked my brick and mortar bank account. When I try to do small transfers under $200, my local bank handles it just fine but sofi freaks out puts a two to three week hold on my funds. Just long enough for an automatic withdrawal to overdraft my account. However, if there's nothing set to come out of my account then sofi will transfer the money in 24 hours or less. Why do they do this? Do they just like to destroy my credit score? They don't even charge overdraft fees so it just feels like they're messing with me. I'd close the account if I wasn't using it for regular payments using zelle which my local bank account doesn't have yet.

Do not use this company for your loan needs- especially if you are self employed . The loan process dragged on for over a month with ever indication from Sofi that all was well and now they are denying the loan and renovations are already under way. We have never had such a terrible experience with a financial institution.

So. I went with this bank I put a large some of money into the bank. Then I decided to take out the money for personal need. MY MONEY. Key word here. They called me once but I didn’t answer it. I have left some money inside of the bank account. So the bank account can stay open. But nooooooo. My 40 dollars wasn’t enough to keep the account open. So they decide to send me a check and say we are closing the account. I now can’t make an account with them I’m banned because I toke MY MONEY out. How does this make sense it’s not cool. Horrible business decision on their part.

Terrible Banking and Investing platform.

SoFi closed my account wouldn't give no reason why it was closed. Here my device was infected with a Malware and money was getting transferred fraudulently. SoFi security team is lacking they don't even know what a malware is learn some basics SoFi you suck!

The investing side has over $100 fees just to transfer out highest in the business. If you put in two requests because some of your investments didnt transfer over guess what that is another $100 fee.

SoFi invest is a joke!

This place has a person link their bank account through computer link then still wants a voided check and account verification letter... GO POUND SAND.

I’m extremely disappointed with my experience at SoFi. A $40 fraudulent charge was disputed with full supporting documentation and was still declined. While the dollar amount was small, the message it sent about fraud protection was not.
When I cancelled my credit card as a direct result of this, I was asked for the reason and clearly explained my concerns. The account was closed with no acknowledgment, discussion, or follow‑up.
If customer feedback is requested but ignored, it raises a valid question about why it’s asked at all. This experience led me to cancel my credit card and is now driving my decision to close my remaining accounts as well.

I got money stole and they would not help me at all. No notification no text message no phone call all my savings taken out and account closed and they couldn’t do anything about it. Never will use this bank again.