Money transfer, virtual currency, or money service -- Fraud or scam -- Complaint #4843295
Complaint Overview
Complaint ID: 4843295
Company: Paypal Holdings, INC
Product: Money transfer, virtual currency, or money service
Sub-Product: Mobile or digital wallet
Issue: Fraud or scam
State: California
ZIP Code: 94102
Date Received: 2021-10-25T12:00:00-05:00
Date Sent to Company: 2021-10-25T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
1. I was sent {$990.00} via PayPal over three weeks ago and I still am waiting for the final dispersement of those funds to me. 2. I was, before the funds were frozen, allowed to spend a token amount with no notification that they would take access to the funds away. 3. At every option, I chose to pay extra for instant payout services and never received them. 4. I have paid nearly {$200.00} to PayPal in processing fees that did not result in the expedited action that was to occur. {$990.00} has been reduced to {$810.00}, and I still havent received the last {$210.00} of that. I received no benefit from selecting these " instant transfer '' options, instead experiencing serious financial hardship. 5. PayPal 's policy to return the fees if the transaction is delayed for any reason, displayed prominently whenever an instant transfer is offered, has not been honored for transactions throughout this ordeal -- they refuse to make good on their promises, defrauding me, and likely other customers, effectively holding onto funds without providing any reason at all, and taking additional money into their possession for expedited services they have no intention to provide. 6. In response to queries regarding the status of the funds, a common theme is to claim that they can not disclose reasons for " looking into '' aspects of the holds, citing their use of technologies that do not allow for said insight or overrides to do the right thing and release my funds after promised periods of time. 7. PayPal is in violation of laws, rules and regulations on various levels designed to prevent huge companies from harassing their customers like this, causing financial distress and reducing the customers quality of life. 8. I am demanding an explanation of said delays, a refund of all fees assessed for services not rendered, and a full and final release of my funds into my possession. If penalties are available to prevent PayPal from harassing others with their awful practices, I implore the CFPB to pursue them or give me the option to do so. Thank you. A fast review of this companies practices would be great as I can't by food or tend to my responsibilities if I don't have access to this valuable resource.
Frequently Asked Questions
What is Complaint #4843295 about?
Complaint #4843295 was filed against Paypal Holdings, INC regarding Money transfer, virtual currency, or money service specifically about Fraud or scam. It was received by the CFPB on 2021-10-25T12:00:00-05:00.
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.