Money transfer, virtual currency, or money service -- Confusing or missing disclosures -- Complaint #6247288
Complaint Overview
Complaint ID: 6247288
Company: Paypal Holdings, INC
Product: Money transfer, virtual currency, or money service
Sub-Product: Mobile or digital wallet
Issue: Confusing or missing disclosures
State: Connecticut
ZIP Code: 06320
Date Received: 2022-11-26T12:00:00-05:00
Date Sent to Company: 2022-11-26T12:00:00-05:00
Company Response: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I was using my Venmo account no different than any other day when I sent my sons mother XXXX dollars for his birthday. If I was to guess Id say she called and made a false report to get my account jammed up. Because Venmo froze my account with {$1100.00}. In it. They proceeded to keep my money after I tried to transfer it multiple times. After reaching out over 20 times to Venmo they finally emailed me simply saying they shut down my account for user agreement issues and they are holding my money for 180 days for loss protection. The money in the account has a clear paper trail from my business. It was transferred from PayPal after a customer paid via PayPal. The money is clearly mine and they are acting like its theirs. Its actually for my customers roof!!! And now I have to either come out of my own pocket or tell my customer Venmo is quite literally stealing our money. Please help
Frequently Asked Questions
What is Complaint #6247288 about?
Complaint #6247288 was filed against Paypal Holdings, INC regarding Money transfer, virtual currency, or money service specifically about Confusing or missing disclosures. It was received by the CFPB on 2022-11-26T12:00:00-05:00.
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.