Money transfer, virtual currency, or money service -- Fraud or scam -- Complaint #8055594
Complaint Overview
Complaint ID: 8055594
Company: Paypal Holdings, INC
Product: Money transfer, virtual currency, or money service
Sub-Product: Mobile or digital wallet
Issue: Fraud or scam
State: New York
ZIP Code: 11365
Date Received: 2023-12-25T12:00:00-05:00
Date Sent to Company: 2023-12-25T12:00:00-05:00
Company Response: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
on XX/XX/XXXX My father was sent a payment of {$2000.00} on Venmo by a family friend to receive that payment first he had to create a Venmo account which he did because it also has other uses for him as well. Then my father took that {$2000.00} and made two payments on Venmo, one to me for the amount of {$1000.00} and another to my fiance for the amount of {$1000.00}. I've had a Venmo account since early XXXX and had gone through all the identity verification stuff early on. I was having trouble accessing my account because there were security restrictions on the account preventing me from having any access. So on XX/XX/XXXX I called Venmos customer support and for about an hour, I was on the phone with one of their agents by the name of XXXX trying to get the restrictions lifted I was asked to send over pictures of my N.Y State I.D twice along with a selfie holding the State I.D . after going through that verification process the restrictions were lifted but I was still encountering a problem adding the checking account that I have with XXXX XXXX XXXX XXXX to Venmo. So I had to go through another verification process to prove the account was mine which entailed sending my State I.D again and bank documentation, after a few hours I was able to add the XXXX checking account to Venmo as a payment method and also as a method to withdraw funds from my Venmo balance to my checking account. So seeing how I just went through this huge undertaking of verifying myself and the restrictions lifted I didn't see where there were going to be any more issues so I went and initiated a standard transfer of my funds for {$1000.00} to my XXXX checking account. A few hours later I was notified by Venmo that my account was suspended due to " suspicious activity " and the funds reverted to my Venmo balance and they canceled the bank transfer I was told to upload my State I.D AGAIN this would be my 4th or 5th time at that point uploading my State I.D, but I wasn't the only one affected by this Venmo went and did the same to my fiance as well and suspended her account for the same reason and then permanently closing it and declaring they will be withholding her funds for 180 days. My father 's account was also suspended by Venmo and he was told to provide Identification and he did also with a utility bill. I went ahead and took some extra measures and provided Venmo with my I.D., my social security card, and also my birth certificate which has my father listed as my biological father along with a utility bill under my father 's name because we live together. I also told Venmo that the person my father received the payment from on their platform is someone who I have a transaction history with on Venmo so the funds weren't obtained illegally they are rightfully mine. If anyone is doing anything suspicious it is Venmo I think it is suspicious that after going through all that verification the minute I go and try to move my funds from their platform to my checking account all of sudden there is suspicious activity being done on my part so they can just freeze my account and my funds so they can do their so-called " investigation '' and then determine to close my account and withhold my funds as they did to my fiance. As of today I still haven't heard anything from Venmo regarding my account just that I have to wait for their " account specialist '' to review my account. I just want my funds released and the funds of my fiance and attention brought to the deceptive practices they are committing.
Frequently Asked Questions
What is Complaint #8055594 about?
Complaint #8055594 was filed against Paypal Holdings, INC regarding Money transfer, virtual currency, or money service specifically about Fraud or scam. It was received by the CFPB on 2023-12-25T12:00:00-05:00.
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.