Money transfer, virtual currency, or money service -- Trouble accessing funds in your mobile or digital wallet -- Complaint #8385934
Complaint Overview
Complaint ID: 8385934
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: Iowa
ZIP Code: 50208
Date Received: 2024-02-20T12:00:00-05:00
Date Sent to Company: 2024-02-20T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Complaint Against PayPal for Holding Funds Despite No Chargeback Risk Date : XXXX Complaint Against : PayPal My PayPal account was permanently limited on XX/XX/XXXX, and funds are being withheld despite no risk of chargebacks or reversals. The funds originated from a cashed payroll check deposited through XXXX XXXX. While PayPal claims the limitation is due to having multiple accounts, I am not a seller and pose no risk of chargebacks. * On XX/XX/XXXX, I deposited a cashed payroll check with PayPal through XXXX XXXX. An attempt to withdraw the funds immediately resulted in an XXXX hold that ultimately failed. I contacted PayPal support for assistance. * On the same day ( XX/XX/XXXX ), my PayPal account was permanently limited. I contacted PayPal by phone, and an account review was initiated on XX/XX/XXXX. * On XX/XX/XXXX, I received information from PayPal stating that the account limitation was due to having multiple accounts. I have two PayPal accounts, one for personal use and another opened several years ago that I no longer use actively. However, I am not a seller and have never used either account for any commercial activity. Therefore, there is no risk of chargebacks or fraudulent activity. * I have made multiple attempts to resolve the issue with PayPal, expressing confusion about the hold and lack of chargeback risk. I also filed a complaint with the XXXX on XX/XX/XXXX. However, PayPal has maintained the limitation and restricted access to my funds. This has caused significant hardship, as I rely on these funds for essential expenses such as fuel for my vehicle to commute to work, groceries and household supplies, and bills including water, electricity, gas, and rent. Due to privacy restrictions within the PayPal app, I am unable to provide screenshots of their communication regarding the account limitation. However, I have attached redacted versions of the emails I sent to PayPal inquiring about the limitation and attempting to resolve the issue. These emails further detail the situation and my efforts to communicate with PayPal.
Frequently Asked Questions
What is Complaint #8385934 about?
Complaint #8385934 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 2024-02-20T12:00:00-05:00.
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.