Money transfer, virtual currency, or money service -- Money was not available when promised -- Complaint #5872110
Complaint Overview
Complaint ID: 5872110
Company: Synchrony Financial
Product: Money transfer, virtual currency, or money service
Sub-Product: Domestic (US) money transfer
Issue: Money was not available when promised
State: Virginia
ZIP Code: 22204
Date Received: 2022-08-12T12:00:00-05:00
Date Sent to Company: 2022-08-12T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I want to make a formal claim against PayPal Credit for cashing a check on XX/XX/XXXX for {$1800.00} issued by my bank ( XXXX XXXX XXXX ) and not crediting my 'PayPal Credit ' account for which it was issued. I have a credit card with the XXXX XXXX XXXXXXXX and, as we all know, commercial banks frequently offer 0 % interest for balance transfers from other credit cards with higher interest rates. XXXX XXXX XXXX offered this 0 % interest balance transfer in XX/XX/XXXX. I also had an account with 'PayPal Credit ' for my purchases. I wanted to use XXXX XXXX XXXX XXXX offer to pay a portion of my PayPal Credit balance at the time and I requested XXXX XXXX XXXXXXXX a {$1800.00} balance transfer for the PayPal account charged to my XXXX credit card. XXXX XXXX XXXXXXXX issued a check for {$1800.00} and sent it to PayPal. The check was received and cashed by PayPal on XX/XX/XXXX, I have proof of it, but never credited to my PayPal account. DETAILS : In XX/XX/XXXX, XXXX XXXX XXXX XXXX XXXX ) offered me a 0 % interest balance transfer to be charged to my XXXX credit card. At the time, I had a PayPal Credit account balance and I decided to use XXXX offer to pay off some of the PayPal outstanding balance. I provided XXXX with all PayPal Credit account details and XXXX issued a check ( No. XXXX ) dated XX/XX/XXXX for {$1800.00} and sent it to PayPal. The check was received and cashed by PayPal on XX/XX/XXXX. After a reasonable amount of time, I checked my PayPal Credit balance and noticed that {$1800.00} had not been credited. I called PayPal Customer Service, after many questions, the representative indicated that the above mentioned check had not been received. Next, I called XXXX and they confirmed that PayPal had in fact received and cashed the check on XX/XX/XXXX and a photocopy of the check was provided. ( photocopy to be provided upon request ). Since then, the long and tiresome phone calls and inconsistent responses from both sides began. Both entities kept sending me back and forth indicating that I should deal with the other one. In the meantime, PayPal accepted and issued a credit of {$1800.00} they said while the investigation was undergoing. However, they also indicated that they may reverse the credit if unable to locate the payment, which in fact occurred. They did not find the payment and reversed the credit. Throughout the year XXXX and part of XXXX, I made many calls to both entities and the answer was always the same. I managed to get an appointment for XX/XX/XXXX with a XXXX representative, XXXX XXXX XXXX at the Branch in XXXX, XXXX VA. The meeting lasted for about two hours during which the representative made several phone calls and finally said that there was nothing XXXX could do because they had proof that the check was received and cashed by PayPal and that, for them, the case was closed. I asked XXXX XXXX to provide me the outcome of the meeting in writing. XXXX XXXX indicated that he would send me a letter in that sense but a formal letter from XXXX was never sent to me. I waited for months to be contacted by either party, hoping that any of them will finally locate the funds. No one contacted as of today. To avoid damaging my excellent credit, I continue making monthly payments for the {$1800.00} I never received. This event has caused me a great stress and tremendous financial loss. I am XXXX XXXX XXXX and trying to save money for my retirement years and I can not afford to lose this money. Thank you.
Frequently Asked Questions
What is Complaint #5872110 about?
Complaint #5872110 was filed against Synchrony Financial regarding Money transfer, virtual currency, or money service specifically about Money was not available when promised. It was received by the CFPB on 2022-08-12T12:00:00-05:00.
How did Synchrony Financial 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 Synchrony Financial?
Yes, visit the Synchrony Financial company profile at readthecomplaint.com/company/synchrony-financial 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.