Money transfer, virtual currency, or money service -- Managing, opening, or closing your mobile wallet account -- Complaint #5747092
Complaint Overview
Complaint ID: 5747092
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: 91343
Date Received: 2022-07-07T12:00:00-05:00
Date Sent to Company: 2022-07-07T12:00:00-05:00
Company Response: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
This complaint is against Paypal who are unjustly withholding my funds with no cause or reason. I have had a Paypal business online account for a number of years and have not had any previous issues with them before. About a week and a half ago, I decided to try and purchase their XXXX Paypal device, which would allow my in-person customers who make payments by card, to easily pay using their XXXX Device XXXX XXXX Their XXXX device syncs to their XXXX app on my phone and allows easy payment for in-person customers. I thought this would be a good business device but unfortunately, it has been a nightmare. I made XXXX test transactions, the XXXX on XX/XX/2022 for {$3.00}, and the next one for {$1.00} on the same day, to see how the XXXX device works and how much fees Paypal XXXX would charge me. My client then provide their card and I charged {$2600.00} on XX/XX/2022, {$1500.00} on XX/XX/2022, and {$500.00} on XX/XX/2022. These transactions were on the same card with the same customer for services rendered and for monies owed to me. After I did these transactions were approved, the money was sitting in my XXXX account and then transferred to my Paypal account linked to it the next day. PayPal then immediately put a hold on my account and sent me a bunch of emails to request more info on my business which at all times I provided. Paypal then decided to suspend my account indefinitely based on all the valid legitimate information which I provided to them. I have contacted them several times to refund my money which is not theirs and they are withholding my funds which is against the law and a violation of my consumer rights and Federal Banking laws. They have decided to steal my money by embezzling it and converting it into theirs. They are saying they can only release my funds after 180 days which is unacceptable, while I have bills to pay and need to take care of my minor child. Paypal is unjustly violating the law and withholding my funds. I even requested that they at least refund the funds to my customer 's card who would find another way to pay me and they refused. I am very upset, frustrated, and angry. I need them to allow a one-time transfer to my account so that I can withdraw all my funds from their online platform, or send me a check asap for the total amount on my account which is {$4500.00}. It is my money, not theirs. I am not interested in using their platform anymore as I feel like I have been abused and they are stealing from me. This was their decision on my online account webpage : You can't use PayPal anymore At PayPal, we value a safe community for our customers to do business. We noticed activity in your account thats inconsistent with our User Agreement and we no longer offer you PayPal services. Based on this decision, if applicable, you are no longer eligible for PayPal XXXX XXXX as per our User Agreement. This will apply to all existing and future cases you receive. Any bank or credit card information linked to your PayPal account can not be removed nor can it be used to create a new account. You can still log in and see your account information but you cant send or receive money. Any money in your balance will be held for 180 days, after which well send you an email with instructions about transferring your money. Reference ID : XXXX Paypal needs to be fined for violating my consumer rights and embezzling my funds. I want my money returned to me immediately. Please help!
Frequently Asked Questions
What is Complaint #5747092 about?
Complaint #5747092 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 2022-07-07T12:00:00-05:00.
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.