Money transfer, virtual currency, or money service -- Money was not available when promised -- Complaint #6170654
Complaint Overview
Complaint ID: 6170654
Company: Paypal Holdings, INC
Product: Money transfer, virtual currency, or money service
Sub-Product: Virtual currency
Issue: Money was not available when promised
State: Ohio
ZIP Code: 43204
Date Received: 2022-11-05T12:00:00-05:00
Date Sent to Company: 2022-11-05T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I recieved a deposit to my Venmo account earlier this year for {$45.00}. When I attempted to withdraw my funds my account was locked. It was then unlocked and I regained access. Upon regaining access I tried to withdraw and my account was locked again. After weeks of correspondence with Venmo I was advised that I violated the user agreement. I was then contacted by someone stating that I had another account with a negative balance and that they were keeping my funds to cover their losses however, Venmo is a prepaid service. There is actually no way for an account to become negative. You can only send or receive funds if funds are available. After stating this fact as well as telling them that I only have one account and any other accounts would've been open fraudulently, they refused to tell me how I violated the user agreement. They refuse to explain to me specifically how they are justifying their keeping my {$45.00}. I continually get the run around. They haven't provided me with an option to prove that this other account is not mine nor have they provided me with specifics re : how I violated their agreement. They are essentially stealing my money and not telling me why.
Frequently Asked Questions
What is Complaint #6170654 about?
Complaint #6170654 was filed against Paypal Holdings, INC regarding Money transfer, virtual currency, or money service specifically about Money was not available when promised. It was received by the CFPB on 2022-11-05T12:00:00-05:00.
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.