SoFi - San Francisco, California

Dom

SoFi is a scam. I did a mobile deposit for a check so that I could put it in my savings account. 3 hours later I received an email saying my account was restricted. I called and was told that not only was my account was restricted, but pending closure. No one could tell me anything. I asked why it was being closed, the answer was”violation of terms and conditions.” I asked what part of that was violated and they couldn’t tell me. I’ve called 3 times because they said once the money cleared they would send it to an external bank or via check. I called today as the money allegedly cleared and asked for it to be sent via external bank they told me it wasn’t an option. I asked for a manager or supervisor, they had none available. I told them that doesn’t make sense for not one supervisor or manager to be around. For a “Fraud” department they don’t know anything. When asking for a timeline, “I don’t know.” They sure know how to hold your money. I never had an issue with this bank because I used the account for small things. I thought that when fraudulent activity occurs that you’re supposed to be notified and asked about it as opposed to immediate action for the account to be closed. The people who work for this company are by far the worst and have no answers for you.

Ian C.

Do not invest with them. $25 inactivity fee - not readily disclosed! Atrocious user interface will confuse you and make you not want to invest. Difficult to close account. Lack of messaging and automatic trade options. Inhuman, awful bank. Think "Shinra Theme" plays when you log in.

LegendFromWoW

I filed a dispute with them for a duplicate charge. I recorded all of my calls with them as I suspected they wouldn’t do their job, investigate, and approve the claim. I was unfortunately right. Now it looks like I have to escalate my dispute to a court to get my money back. Luckily the facts are clear as crystal and I could hand the judge a live chat to the merchant to confirm in realtime in court that the duplicate charge is an error on SoFi’s end and it shouldn’t have posted.

But damn, what a massive amount of hoops I have to jump through to get things made right.

I will for sure be opening a bank account elsewhere as these people cannot be trusted with my money based off what has taken place.

Heather K. N.

Terrible experience. A payment for my student loan failed and the reason given to me by SoFi was “insufficient fund”, which was not the case. When I asked the agent for written document on the provided reason, the agent refused. Asked to speak to a manager and got disconnected in the middle. Will be filing a complaint with the Federal Student Aid office and refinancing my loan with another company to move out of SoFi

J L.

ALL I did was update my new address in the app - they then (overnight, no less) froze my account for suspicious activity - And will not release my funds. There is no supervisor no manager - and they will hang up on you.

Do NOT go with this financial institution. You have been warned.

Thank god this is not my only bank account.

• My attorney will get my money - but still. This is a headache you do not want.

Anyamarie G.

I received an email about a linked account to my SOFI account that I didn't recognize. I immediately called and froze my account and was told I got an investigation started on the unknown linked account. A few days later they just unfroze my account without my permission. I just got an email about it and no news on the investigation. I called immediately and requested an investigation report or email on the "investigation" they completed. I was told no, they don't do that and they unfroze my account because there was no suspicious behavior. I think this is unacceptable. You shouldn't just unfreeze people's accounts without their permission. That's a violation or should be.

While closing my account I found that the unauthorized account was linked to my account... I do not believe they did a formal investigation.

Rada

This is actually the worst banking app with no customer service. Look at all the negative reviews here. They tried to make everything as technology based as possible, in a very SF way but have no possibility of human override when developers inevitably make mistakes and don’t take into account exceptions. Example: a person trying to open the bank account is not a us citizen. Skip this bank and find another that is actually friendly to foreigners

Nathan C.

Everyone leaving a bad review due to identify failures, thank the scammers. Would you rather have to wait for your money or get it all stolen? Its very easy to fake an identity nowadays. Great bank, excellent security.