Checking or savings account -- Managing an account -- Complaint #11425978
Complaint Overview
Complaint ID: 11425978
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
State: Florida
ZIP Code: 342XX
Date Received: 2025-01-07T12:00:00-05:00
Date Sent to Company: 2025-01-07T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I have used Venmo somewhat regularly for the past 5-7 years. I've since stopped using it as my main vehicle for sending money due to how poorly my account was managed. Over the last 3 attempts to accept/send money, my account has been Suspended for " Suspicious Activity ''. I needed to add a bank account to my profile as my debit card that had been attached was hacked and the number was no longer usable. I was able to get a small loan for my insurance and bills that I need to pay, and if I were to use any other company, I would've had my phone paid and car insurance. Well now I can't get home from work and I need to wait 3-5 business days for them to verify that the account is mine although I have taken a picture of my license and sending to them, which in itself felt sketchy and unprofessional. It seemed that the verification software was a 3rd Party service, which means I have no clue where my data is going. It's unfair when there are at least 5 major organizations I can choose and the one I choose disables any ability to send and receive money. I thought we might have fixed the issue the last time I called, but nobody seems to take action to help me. I've never complained like this before, but I feel taken advantage of and on the count that this has happened 3 times has sent me over. I just wanted an explanation and for my funds to not be frozen. This is happening to so many people. With major privacy concerns, terrible customer service and strategy integration, scams, and a variety of other things, ( my problem being at the top of everybody 's list ) has gone unpunished for too long. I hope this message brings people awareness to show that there are better options with a customer-first approach that you should use rather than this terrible terrible organization.
Frequently Asked Questions
What is Complaint #11425978 about?
Complaint #11425978 was filed against Paypal Holdings, INC regarding Checking or savings account specifically about Managing an account. It was received by the CFPB on 2025-01-07T12:00:00-05:00.
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.