Money transfer, virtual currency, or money service -- Other transaction problem -- Complaint #13580332
Complaint Overview
Complaint ID: 13580332
Company: Paypal Holdings, INC
Product: Money transfer, virtual currency, or money service
Sub-Product: Domestic (US) money transfer
Issue: Other transaction problem
State: Puerto Rico
ZIP Code: 00924
Date Received: 2025-05-18T12:00:00-05:00
Date Sent to Company: 2025-05-18T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Over hundreds of individuals voluntarily and knowingly used PayPal to send money to purchase cryptocurrency or membership packages from a company called XXXX XXXX. Each of these individuals made their own purchase decisions after receiving the cryptocurrency or package access. Now, after the company ceased operations on XX/XX/year>, some individuals have filed chargebacks or disputes with PayPal and their banks, claiming unauthorized transactions. As a result, PayPal and certain banks are deducting money from our accounts. Those of the recipients as if we had committed fraud, even though there is clear evidence like chats, payment records, transaction IDs proving that these payments were made willingly by the senders and that they used the platform and received money from it. There's too people on social media and chats inciting and promoting to do these chargebacks and people have been misinformed by those who want to do us harm. We are being unfairly penalized and financially harmed due to these reversed payments, even though we did not sell or manage the products. The transactions were peer to peer, and our role was solely to receive the funds and help them send their money to their account on the platform as they could not purchase cryptocurrency at the moment since their bank or credit card declined, or could not send the cryptocurrency through PayPal since it has a 2 day verification to send to external wallets. We respectfully request an investigation and any appropriate intervention to protect us from this abuse of the chargeback and refund systems. I am available to provide supporting documents, testimonies, and further explanation.
Frequently Asked Questions
What is Complaint #13580332 about?
Complaint #13580332 was filed against Paypal Holdings, INC regarding Money transfer, virtual currency, or money service specifically about Other transaction problem. It was received by the CFPB on 2025-05-18T12:00:00-05:00.
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.