Money transfer, virtual currency, or money service -- Fraud or scam -- Complaint #10660545
Complaint Overview
Complaint ID: 10660545
Company: Paypal Holdings, INC
Product: Money transfer, virtual currency, or money service
Sub-Product: Mobile or digital wallet
Issue: Fraud or scam
State: New York
ZIP Code: 14221
Date Received: 2024-11-01T12:00:00-05:00
Date Sent to Company: 2024-11-01T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I am filing a formal complaint against Venmo and PayPal due to their failure to assist me in resolving a fraudulent payment dispute, which has resulted in both my Venmo and PayPal accounts being frozen. Despite my prompt actions to stop a fraudulent payment, I have been unable to access my accounts and have not received adequate support from customer service. On XX/XX/year>, I proceeded to make a payment through Venmo believing I was purchasing a generator from a trusted friend ( the scammer claimed the account they used was my friend 's cousin 's ). Shortly after, I discovered that my friends XXXX account had been hacked and that the transaction was part of a scam. Immediately upon realizing the fraud, I called Venmo customer support to explain the situation. The representative told me she would forward my case to a support team. Following this phone conversation, I contacted my bank, which placed a stop-payment on the transfer to prevent the funds from reaching the scammer. Instead of assisting me in reversing the fraudulent transaction, Venmo froze my account after taking {$13.00} that was in my Venmo account for the {$400.00} payment. PayPal subsequently froze my account as well, causing additional frustration and inconvenience. Despite repeated attempts to resolve the matter through customer service, my accounts remain frozen. In fact, PayPal emailed me to inform me that they suspended my account ( XX/XX/XXXX ) after I sent an email to the executive office of PayPal on XX/XX/XXXX, requesting to resolute the fraudulent payment dispute urgently. I have provided both Venmo/PayPal with supporting documents that prove my efforts to prevent this scam, yet my case has not been resolved. I am left unable to use my accounts, despite being a victim of fraud and taking immediate action to stop the payment.
Frequently Asked Questions
What is Complaint #10660545 about?
Complaint #10660545 was filed against Paypal Holdings, INC regarding Money transfer, virtual currency, or money service specifically about Fraud or scam. It was received by the CFPB on 2024-11-01T12:00:00-05:00.
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 (Money transfer, virtual currency, or money service) 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.