Money transfer, virtual currency, or money service -- Confusing or misleading advertising or marketing -- Complaint #4392578
Complaint Overview
Complaint ID: 4392578
Company: Paypal Holdings, INC
Product: Money transfer, virtual currency, or money service
Sub-Product: Mobile or digital wallet
Issue: Confusing or misleading advertising or marketing
State: South Carolina
ZIP Code: XXXXX
Date Received: 2021-05-20T12:00:00-05:00
Date Sent to Company: 2021-05-20T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I opened a venmo business account per their instructions to sell off a few personal items, and after the first transaction, they locked my account unless I gave the all invoices, customer personal information including what was purchased and where it was shipped and the names address and phone numbers and tracking numbers for said purchases. This is nowhere in their disclosure or is it material information that they need for any reason that they could give. I have never had a financial institution ask such questions. Please advise
Frequently Asked Questions
What is Complaint #4392578 about?
Complaint #4392578 was filed against Paypal Holdings, INC regarding Money transfer, virtual currency, or money service specifically about Confusing or misleading advertising or marketing. It was received by the CFPB on 2021-05-20T12:00:00-05:00.
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.