Money transfer, virtual currency, or money service -- Trouble accessing funds in your mobile or digital wallet -- Complaint #9924558
Complaint Overview
Complaint ID: 9924558
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: California
ZIP Code: 91606
Date Received: 2024-08-25T12:00:00-05:00
Date Sent to Company: 2024-08-25T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I have been using Venmo for over XXXX years and never had a problem. XXXX months ago I used my Venmo debit card to pay at the pump. There was a balance of {$62.00} I had on my card, I did not know the gas station held {$25.00}. So my account was negative {$25.00}. I did not know this until my account was frozen, I contacted customer service got transferred to different departments that could not fix the issue. Finally they informed me about the - {$25.00} and said I could resolve it by either funding my account or allowing them to debit it from my bank card. I allowed them to, and then the representative later told me something went wrong and they couldnt resolve it after all but they would follow up with an email shortly. Not long after that I was informed my account is is suspended. I still had a balance of over {$400.00} in there. They could not debit the - {$25.00} but instead told me I can no longer use my account. And there was nothing I can do about it. I asked them what was the reason to this. They instead told me my ticket is closed and to not ever contact them again, any on going messages would not be returned. But the strangest thing is that I then got a deposit of XXXX cent from a user named Venmocorp, that funded my account several times with XXXX cent and then withdrew it back. Its been almost XXXX months, they have said they will hold my funds for up to 180 days for loss prevention purposes. I have never encountered such a business as this. If they are going to close my account, at least release my funds and then close it for good. But instead my account remains opened, the funds are still there, Im even allowed to receive payments but I am not allowed to send or transfer my money out. That is the most mind boggling part to this. Please help me resolve this issue. If my account was suspended, how was it that I saw a transaction activity in which I did not ( could not ) even do from a merchant XXXX days ago! Now my funds are {$380.00}. So it is suspicious to me that they say I am not allowed to use my account, however there seems to be activity going on that I have no knowledge of? I just want my funds released and never ever ever have anything to do with Venmo again. Please help!
Frequently Asked Questions
What is Complaint #9924558 about?
Complaint #9924558 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 2024-08-25T12:00:00-05:00.
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.