Money transfer, virtual currency, or money service -- Fraud or scam -- Complaint #8458343
Complaint Overview
Complaint ID: 8458343
Company: Paypal Holdings, INC
Product: Money transfer, virtual currency, or money service
Sub-Product: Domestic (US) money transfer
Issue: Fraud or scam
State: Utah
ZIP Code: 84078
Date Received: 2024-02-29T12:00:00-05:00
Date Sent to Company: 2024-02-29T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
On XX/XX/year>, I made a payment of {$700.00} via PayPal to purchase products from a seller named XXXX XXXX. Despite numerous attempts to contact him through XXXX XXXX, the seller failed to deliver the product as promised. He even assured me of a refund, only to subsequently cease all communication. Approximately one month after the payment was made, I initiated a dispute with PayPal. I meticulously submitted all relevant documents, including the invoice provided by the seller, a police report, FBI report, and FTC report ( as the seller has all my legal information ) confirming the fraudulent nature of the transaction. Additionally, I provided screenshots of the conversations between myself and the seller as evidence. Shockingly, PayPal failed to adequately review the evidence I provided, and the seller did not furnish any evidence to support their case. Consequently, PayPal closed the dispute citing that their terms and policies do not cover " investment products. '' Despite filing a complaint with the XXXX XXXX XXXX ( XXXX ), PayPal has not responded to address the matter. I am deeply disappointed with PayPal 's failure to protect my funds and address fraudulent activities on their platform. Their terms and policies seemingly provide a haven for scammers, leaving innocent consumers vulnerable to financial losses. As a widely recognized money transfer platform, such negligence is unacceptable. Therefore, I am urging the Consumer Financial Protection Bureau ( CFPB ) to intervene on my behalf and facilitate the refund of my money. It is imperative that PayPal rectifies this situation promptly to restore trust and safeguard the interests of its users.
Frequently Asked Questions
What is Complaint #8458343 about?
Complaint #8458343 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 2024-02-29T12:00:00-05:00.
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.