Money transfer, virtual currency, or money service -- Managing, opening, or closing your mobile wallet account -- Complaint #7323417
Complaint Overview
Complaint ID: 7323417
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: Illinois
ZIP Code: 60543
Date Received: 2023-07-29T12:00:00-05:00
Date Sent to Company: 2023-07-29T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
PayPal recently closed my account which I have utilized for the last 15 years. Specifically, the account closure was triggered by me purchasing nutritional supplements from a company called XXXX ( in which PayPal was the payment processor ). I authorized these transactions to XXXX using my PayPal account and specifically paid with prepaid XXXX Debit Cards ( that I received as a work incentive and thus wanted to use before they expired ). PayPal accepted my prepaid XXXX Debit Cards and at no time was I told I couldn't use these on PayPal. I received my suplement order from XXXX and was charged correctly via my PayPal account. Needless to say the transaction itself went of seamless and as expected. It wasn't until weeks later when my PayPal account was closed did I fully understand the gravity of my mistake. It was explained to me that using multiple XXXX debit cards is concern for PayPal and raised a red flag. It was also explained to me XXXX was under litigation with XXXX XXXX. Needless to say, these two things led to the closure of my PayPal account. Now what is unfair to me is PayPal accepted my XXXX Debit Cards and at no time was I told this could jeopardize my PayPal account. I would have never used them on PayPal if I was warned. Secondly, PayPal allowed XXXX to open an account on their platform and allowed me to pay them. If they have issue with their PayPal customers using XXXX, why allow XXXX on the platform. It seems XXXX should be punished with the closure of their PayPal account not me. Essentially I was penalized for paying a merchant they allowed me to pay.
Frequently Asked Questions
What is Complaint #7323417 about?
Complaint #7323417 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 2023-07-29T12:00:00-05:00.
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.