Money transfer, virtual currency, or money service -- Money was not available when promised -- Complaint #7007257
Complaint Overview
Complaint ID: 7007257
Company: Paypal Holdings, INC
Product: Money transfer, virtual currency, or money service
Sub-Product: Virtual currency
Issue: Money was not available when promised
State: California
ZIP Code: 91361
Date Received: 2023-05-21T12:00:00-05:00
Date Sent to Company: 2023-05-21T12:00:00-05:00
Company Response: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I bought XXXX of BTC on Venmo , and have had problems with sending small amounts ever since I made the initial purchase. Fast forward to today, I have a balance of roughly 11k in BTC and the Venmo app is not letting me send to a different wallet or cash it out ; its literally stuck in Venmo, they are holding my entire crypto balance hostage, I cant even send small amounts. This has been happening for almost 2 weeks, I havent been able to touch my money. Ive tried everything from the waiting game to reinstalling the app many times, my phone etc.. Ive spoke with Venmo assistance on phone and lengthy mail conversations, their best advice is to reinstall the app, Ive done this multiple times. Still nothing. Ive explained my troubles and have spent hours of my time going back in forth with their support team, theyve told me this last : the true ( and likely frustrating ) answeris that we are not able to resolve this for you. You may try to make the transaction again at a later time, but I can not guarantee it will work. You may also try a different payment method, which will be subject to the same internal reviews. I'm very sorry again for the inconvenience this causes but if you have additional questions or concerns please let us know! Best, XXXX XXXX | Venmo Support VENMO IS STEALING CRYPTO MONEY AND GIVING NO SOLUTION!
Frequently Asked Questions
What is Complaint #7007257 about?
Complaint #7007257 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 2023-05-21T12:00:00-05:00.
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.