Money transfer, virtual currency, or money service -- Trouble accessing funds in your mobile or digital wallet -- Complaint #12719277
Complaint Overview
Complaint ID: 12719277
Company: Paypal Holdings, INC
Product: Money transfer, virtual currency, or money service
Sub-Product: Mobile or digital wallet
Issue: Trouble accessing funds in your mobile or digital wallet
State: North Carolina
ZIP Code: 28146
Date Received: 2025-03-28T12:00:00-05:00
Date Sent to Company: 2025-03-28T12:00:00-05:00
Company Response: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Subject : Formal Complaint Against XXXX for Withholding Funds & Unjust Account Closure Dear Consumer Financial Protection Bureau, I am filing a formal complaint against XXXX ( a PayPal subsidiary ) for unlawfully withholding over {$440.00}, refusing to provide a valid reason for my account closure, and blocking access to my legally owned funds. This money was meant to cover a XXXX XXXX XXXX for my XXXX XXXX, which I have been unable to receive due to this issue. On XX/XX/year>, I received a {$600.00} payment through XXXX after selling my old phone. Initially, I was able to access and use some of the funds, but then XXXX randomly restricted my account and prompted me to verify my identity before allowing further transactions. I immediately submitted my government-issued ID, and my account was placed under review. Despite following their verification process, on XX/XX/year>, Venmo suddenly closed my account without warning or explanation, stating they would decide in XXXX months whether I would ever regain access to my remaining moneyover {$400.00}. I have contacted XXXX customer support multiple times, but they refuse to provide a reason for the closure. Their responses have been vague and automated, and they now claim they consider this matter closed, effectively stealing my money without any path for resolution. This has caused severe financial and medical hardship, delaying my procedure and worsening my health. After researching, I found countless other victims who have experienced similar unjustified account closures and withheld funds. Due to this pattern of behavior, I have initiated a class-action lawsuit against XXXX. Sincerely, XXXX XXXX
Frequently Asked Questions
What is Complaint #12719277 about?
Complaint #12719277 was filed against Paypal Holdings, INC regarding Money transfer, virtual currency, or money service specifically about Trouble accessing funds in your mobile or digital wallet. It was received by the CFPB on 2025-03-28T12:00:00-05:00.
How did Paypal Holdings, INC respond to this complaint?
The company responded with: "Closed with non-monetary relief". 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.