Checking or savings account -- Managing an account -- Complaint #10131534
Complaint Overview
Complaint ID: 10131534
Company: Paypal Holdings, INC
Product: Checking or savings account
Sub-Product: Other banking product or service
Issue: Managing an account
Sub-Issue: Deposits and withdrawals
ZIP Code: XXXXX
Date Received: 2024-09-15T12:00:00-05:00
Date Sent to Company: 2024-09-15T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Complaint ag ainst PayPal for Unfair Account Limitation and Withholding of Funds. I am filing this complaint against PayPal for unfairly and permanently limiting my account and withholding my funds of {$XXXX} for XXXX days, despite my full compliance with their documentation requests. On XX/XX/year>, PayPal placed a temporary limitation on my account and requested documentation to explain the source of my funds, stating it was to " improve my PayPal experience. '' I provided extensive documentation regarding multiple transactions, including those from years back. Despite the effort required, I fully complied. However, immediately after submitting the information on XX/XX/year>, PayPals automated system returned a permanent limitation verdict within less than a minute, raising serious concerns about whether my submission was properly reviewed. I was informed that my funds would be held for XXXX days, and that I could only withdraw the money after this period. I believe PayPal 's actions are not only unfair but also illegal for the following reasons : XXXX. No Violation of PayPals Acceptable Use Policy ( AUP ) : I have not violated the XXXX, and PayPal has not provided clear reasons for this permanent limitation. 2. Improper Review Process : The documentation I submitted was extensive, but PayPals system reviewed it in less than a minute, suggesting my submission was not properly evaluated. XXXX. Withholding of Funds : The 180-day hold is excessive, and I am concerned I may not be allowed to withdraw my money even after this period, as seen in other user complaints. This is unlawful withholding of funds. Resolution Sought : I request either reinstatement of my account or immediate access to my funds total to {$XXXX}. I also ask PayPal to provide a clear explanation for their actions. Thank you for your attention. Sincerely, XXXX XXXX XXXX
Frequently Asked Questions
What is Complaint #10131534 about?
Complaint #10131534 was filed against Paypal Holdings, INC regarding Checking or savings account specifically about Managing an account. It was received by the CFPB on 2024-09-15T12:00:00-05:00.
How did Paypal Holdings, INC respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Checking or savings account) and describe your issue in detail.
Can I see other complaints against Paypal Holdings, INC?
Yes, visit the Paypal Holdings, INC company profile at readthecomplaint.com/company/paypal-holdings-inc to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.