Money transfer, virtual currency, or money service -- Trouble accessing funds in your mobile or digital wallet -- Complaint #8085824
Complaint Overview
Complaint ID: 8085824
Company: Paypal Holdings, INC
Product: Money transfer, virtual currency, or money service
Sub-Product: Mobile or digital wallet
Issue: Trouble accessing funds in your mobile or digital wallet
State: Washington
ZIP Code: 98503
Date Received: 2023-12-31T12:00:00-05:00
Date Sent to Company: 2023-12-31T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Servicemember
Consumer Narrative
This is in regard to Venmo, XXXX # XXXX. On XX/XX/ I received XXXX, a cryptocurrency, from a friend who owed me money for a shared bill. Upon using Venmo to sell this cryptocurrency, so I could cash it to my bank account to pay said bill, Venmo limited my account. With this limitation, I can not gain access to this money, causing me additional late fees for the bill. I submitted a ticket with Venmo on the same day, and received the confirmation for Ticket # XXXX at XXXXXXXX XXXX stating that they will get back to me in approximately 7 business days because they need to " escalate it ''. I've reached out a few additional times throughout the week for an update, but can not get ahold of anyone, nor can I get ahold of anyone on a phone call. As stated before, Venmo is causing me additional late fees because they are withholding my money from me. Since I can not seem to get support through them, I have decided to file a complaint with the CFPB.
Frequently Asked Questions
What is Complaint #8085824 about?
Complaint #8085824 was filed against Paypal Holdings, INC regarding Money transfer, virtual currency, or money service specifically about Trouble accessing funds in your mobile or digital wallet. It was received by the CFPB on 2023-12-31T12:00:00-05:00.
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.