Money transfer, virtual currency, or money service -- Managing, opening, or closing your mobile wallet account -- Complaint #5718303
Complaint Overview
Complaint ID: 5718303
Company: Paypal Holdings, INC
Product: Money transfer, virtual currency, or money service
Sub-Product: Mobile or digital wallet
Issue: Managing, opening, or closing your mobile wallet account
State: California
ZIP Code: 90046
Date Received: 2022-06-28T12:00:00-05:00
Date Sent to Company: 2022-06-28T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Venmo froze my account without any explanation other than what they are claiming is " apparent fraud '' on the account. This occurred after I accumulated a {$3000.00} balance in the account from rent reimbursement from an associate. Once I attempted to transfer the {$3000.00} to my XXXX XXXX bank account ( Which has been linked to my Venmo account for years ) the account was frozen. I no longer have access to these funds and have attempted to resolve this by calling Venmo. After eight business days of my account being frozen, and after multiple attempts to resolve this issue directly with Venmo via phone calls and emails, I have no choice but to report this to you.
Frequently Asked Questions
What is Complaint #5718303 about?
Complaint #5718303 was filed against Paypal Holdings, INC regarding Money transfer, virtual currency, or money service specifically about Managing, opening, or closing your mobile wallet account. It was received by the CFPB on 2022-06-28T12:00:00-05:00.
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.