Checking or savings account -- Managing an account -- Complaint #4745921
Complaint Overview
Complaint ID: 4745921
Company: Paypal Holdings, INC
Product: Checking or savings account
Sub-Product: Checking account
Issue: Managing an account
Sub-Issue: Deposits and withdrawals
State: Washington
ZIP Code: 98409
Date Received: 2021-09-22T12:00:00-05:00
Date Sent to Company: 2021-09-22T12:00:00-05:00
Company Response: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Servicemember
Consumer Narrative
On XXXX XXXX, XXXX, I had a deposit made into my paypal checking account for {$700.00} by an individual known to me. This is not the first time my account has received this amount or similar amounts into the account. I tried to withdraw the funds by accessing my account on my mobile phone using PayPal 's mobile app. Everytime I tried to move the funds so that I could utilize it, PayPal app would give me a message saying " were sorry we are having difficulties processing your request. The problem is on our part. Please try again later '', then the application would freeze. I tried numerous times to complete the transaction and at different times but kept receiving the same message! When I finally called paypal, I found out that apparently there were some steps for me to take in order to get access to the funds which I found out that paypal put a hold on. NOWHERE WAS I NOTIFIED OF THESE STEPS TO FOLLOW ON THE MOBILE APP OR ONLINE! I believe this is an unfair and predatory practice since I am sure I am not the only customer to have experienced this. PayPal and others like them like XXXX, are unfairly holding on to funds belonging to millions if not billions of people like me who are not savvy when it comes to online or virtual credit lending companies or whatever they're called, q like themselves. And by doing so, they are benefiting from these held funds to the tune of billions of dollars in interest earned and at the cost of normal people struggling to make a living or make ends meet and who themselves are losing out, collectively, on billions of dollars in terms of interest they could have earned, had they had timely access to their funds AND A LEVEL PLAYING FIELD IN TERMS OF CLEAR INSTRUCTIONS TO THE CONSUMER as to what needs to be done to gain access to the money that friends and family send or their customers send. I believe they are intentionally doing these things to financially benefit from consumers and somebody has got to stop them! Additionally, I think that they ( paypal, chime, etc.. al ) are intentionally trying to shield themselves from litigation by preventing consumers from taking screenshots under the guise that it is for the protection of consumers! Consumers should be able to screenshot whatever they want to once they have satisfied security protocols set in place to gain access to the information in the first place!
Frequently Asked Questions
What is Complaint #4745921 about?
Complaint #4745921 was filed against Paypal Holdings, INC regarding Checking or savings account specifically about Managing an account. It was received by the CFPB on 2021-09-22T12:00:00-05:00.
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 (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.