Money transfer, virtual currency, or money service -- Other transaction problem -- Complaint #7967601
Complaint Overview
Complaint ID: 7967601
Company: Paypal Holdings, INC
Product: Money transfer, virtual currency, or money service
Sub-Product: Domestic (US) money transfer
Issue: Other transaction problem
State: Washington
ZIP Code: 99354
Date Received: 2023-12-07T12:00:00-05:00
Date Sent to Company: 2023-12-07T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I had received {$350.00} into my Venmo account. I want to transfer the money into my XXXX XXXX XXXX account and received an error message saying that it could not complete it choose a different account. So I transferred it into my XXXX checking account instead. The next morning when I looked at my XXXXXXXX XXXX XXXX Account, I saw that Venmo had withdrawn the money out of my account despite the fact that they never had deposited the money into that account. So it was like they were reversing the deposit into the account but they never made a deposit in the first place. This put that accounts in the negatives. They never should have taking any money out of that account. The transferring of the money into my XXXX account went fine, but there was no reason they shouldve ever taken the money out of my XXXX account. They were reversing a transaction they never made. I contacted Venmo, and was told that there was no way that could actually happen although I did prove to them and submit to them the transaction, then the second time I contacted them after spending almost an hour on the phone. They informed me that they were going to put this to a specialist and they would get back to me within 7 to 14 business days. I am currently missing my money that they took inappropriately, they do not provide any kind of real customer service telling me Ill have to wait weeks for them to even look at why they took my money and only then will they refund me. This is absolutely unacceptable. They have to be much more responsive to XXXX they made.
Frequently Asked Questions
What is Complaint #7967601 about?
Complaint #7967601 was filed against Paypal Holdings, INC regarding Money transfer, virtual currency, or money service specifically about Other transaction problem. It was received by the CFPB on 2023-12-07T12:00:00-05:00.
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.