Money transfer, virtual currency, or money service -- Unauthorized transactions or other transaction problem -- Complaint #5000130
Complaint Overview
Complaint ID: 5000130
Company: Paypal Holdings, INC
Product: Money transfer, virtual currency, or money service
Sub-Product: Mobile or digital wallet
Issue: Unauthorized transactions or other transaction problem
State: Illinois
ZIP Code: 60628
Date Received: 2021-12-11T12:00:00-05:00
Date Sent to Company: 2021-12-11T12:00:00-05:00
Company Response: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Venmo and XXXX have a collaboration to allow customers to send payments using their XXXX Send account. I have had issues using this service since XX/XX/2021 and was unsuccessful in sending a payment to another Venmo account. Regardless of who the payment was being sent to I still received an email from Venmo stating that the transition was cancelled and being returned. but the problem is that the funds were not returned to XXXX which is the payment funding resource. That is fine that the transaction was cancelled but the financial issue that has caused financial harm is that funds were not returned to the original payment source. The payment of {$1100.00} was not returned to XXXX and the funds are frozen in the account. I am not sending the funds to my personal bank account because the purpose of the transaction is to fund an Art project through a business account and I need the proper documentation and a track record of receipts. If the transaction was cancelled by Venmo then the funds need to be returned to XXXX the original funding source. I received an email stating that the account was frozen and to upload my identity. I already uploaded my identity. Venmo successfully verified my identity but then froze the Venmo account a second time even though I already uploaded a picture of my identification. The funds are still not returned to XXXX. I have contacted Venmo and chatted with customer service and customer service is asking me to submit a copy of my bank account to unfreeze my account even though I did not use my bank account to make the {$1100.00} Venmo transaction. I am not sending the funds to my personal business account because that defeats the purpose of using the XXXX SEND product for the Venmo transaction. The bottom line is that the transaction of {$1100.00} that was cancelled by Venmo needs to be returned to XXXX SEND ASAP!
Frequently Asked Questions
What is Complaint #5000130 about?
Complaint #5000130 was filed against Paypal Holdings, INC regarding Money transfer, virtual currency, or money service specifically about Unauthorized transactions or other transaction problem. It was received by the CFPB on 2021-12-11T12:00:00-05:00.
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.