Date Received: 2023-12-25
Issue: Fraud or scam
Subissue:
Consumer Complaint: 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.
Company Response:
State: NY
Zip: 11365
Submitted Via: Web
Date Sent: 2023-12-25
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-24
Issue: Fraud or scam
Subissue:
Consumer Complaint: On XX/XX/2023 I withdrew {$180.00} from my checking account at XXXX XXXX XXXX bank and loaded as virtual currency into Venmo internet debit card to make purchases. After I made purchases and returned boots to XXXX XXXX refunded XXXX to Venmo account and Venmo frozen account any notice and blocked ability to either spend the balance making purchase or transfer back to my checking account. I made many inquiries to Venmo customer service which come back with unrelated automated message which does not address frozen account nor ability to transfer funds back. To this day the Venmo card balance is {$52.00} account is frozen and all inquiries to XXXX XXXX and Venmo go unanswred
Company Response:
State: NJ
Zip: 07050
Submitted Via: Web
Date Sent: 2023-12-24
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-24
Issue: Managing, opening, or closing your mobile wallet account
Subissue:
Consumer Complaint: Venmo suspended my account for no reason and refused to tell me why or unlock my account.
Company Response:
State: NY
Zip: 11375
Submitted Via: Web
Date Sent: 2023-12-24
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-25
Issue: Fraud or scam
Subissue:
Consumer Complaint: I recently found myself entangled in what appears to be an elaborate scam. Despite my persistent efforts to contact the company involved and to settle the dispute with the payment provider PayPal through which I initiated the transfers to the fraudulent entity, I have encountered no help or solutions. The Scammer approached me online, she created a false identity and pretended to have false romantic intentions towards me to gain and then take advantage of my trust and affection in order to access my cash, bank, and trading account. I have conducted numerous transactions via PayPal with an individual who possessed multiple accounts registered with the PayPal platform. Regrettably, these accounts were utilized as components of a complex fraudul ent scheme targeting unsuspecting individuals, and I, regrettably, became one of the victims. It was disheartening to learn that such fraudulent activities were transpiring despite PayPal 's reputation as a secure and trustworthy platform. According to PayPal 's terms of service, individuals are strictly authorized to maintain a single personal account. It is explicitly forbidden to have multiple personal accounts registered under the same individual 's name. The creation of multiple personal accounts unmistakably contravenes PayPal 's established policies. This clearly happened in this case. It is important to also acknowledge that PayPal is obligated to conduct ongoing monitoring once an account is verified. This involves vigilant scrutiny of transactions and activities to identify any suspicious or irregular behavior. PayPal diligently reviews incoming and outgoing payments, employs measures to detect potential fraud patterns, and adheres to applicable regulatory requirements for reporting suspicious activities. Considering the circumstances where funds were being transferred to the same individual but through different accounts, one would expect PayPal to implement enhanced due diligence measures. These additional verifications would have been crucial in understanding the context of these transactions. Regrettably, it seems evident that even fundamental due diligence procedures were not executed by PayPal for these accounts. Therefore, I want to reiterate that these accounts were created as part of an elaborate scam to defraud unsuspecting individuals, and unfortunately, due to the lack of diligence and compliance of PayPal, I became one of the victims. In fact, if only PayPal performed the basic scrutiny that was owed to me as a client, for the sake of my safety, this victimization could have been prevented.
Company Response:
State: OR
Zip: 97006
Submitted Via: Web
Date Sent: 2023-12-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-25
Issue: Fraud or scam
Subissue:
Consumer Complaint: A friend of mine made XXXX payments to me on Venmo over the Summer : {$20.00} on XX/XX/2023 {$65.00} on XX/XX/2023 On XX/XX/2023, Venmo contacted me, claiming I owed them {$85.00}, and neglecting to explain why. After some prodding, I found out that the sender or a person with custody over his/her bank account disputed the charges. I refused to pay, naturally, but they made it clear in an email sent today, XX/XX/2023 that they would attempt to collect debt from me. The {$85.00} was legitimately transferred to me, and I should not have had any debt. This issue was between Venmo and the sender, and I was unrighteously and illegally extorted.
Company Response:
State: NH
Zip: 038XX
Submitted Via: Web
Date Sent: 2023-12-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-23
Issue: Unauthorized transactions or other transaction problem
Subissue:
Consumer Complaint: I have become aware of a recurring ACH debit from my XXXX account. It is unauthorized and has been occurring on the XXXX of every month, from XX/XX/2021 to today. This debit is listed as XXXX XXXX and is in the amount of XXXX ( XXXX XXXX and XXXX XXXX ). I am not receiving services or products for this monthly transaction. I contacted PayPal and they said I would have to contact the merchant to cancel it. I used their provided contact info and it went to an undeliverable address. PayPal offers no other resolution. I have filed a dispute with my bank but they alerted me this wont stop the ACH. XXXX is effectively stealing money from my account with no way to manage it. Since the amount is small it has gone undetected for quite some time.
Company Response:
State: OK
Zip: XXXXX
Submitted Via: Web
Date Sent: 2023-12-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-23
Issue: Managing an account
Subissue: Problem making or receiving payments
Consumer Complaint: To Whom It May Concern at the Consumer Financial Protection Bureau, I am reaching out to file a formal complaint against PayPal, a service I have utilized for four years without any prior issues. However, about 20 days ago, I experienced a significant and distressing problem : PayPal permanently restricted my account without any clear explanation. This abrupt account restriction has left me unable to access my funds and receive payments, which has had a considerable impact on my financial transactions, as PayPal is my primary means of receiving payments. Despite my attempts to contact PayPal for clarification and resolution, the responses have been largely unhelpful and dismissive. The lack of transparency and communication from PayPal regarding this issue is concerning and has caused me significant inconvenience and stress. I am seeking the CFPB 's assistance in addressing this matter with PayPal. I wish to understand the reason behind the sudden restriction of my account and hope to find a resolution that reinstates my access or at least provides a clear explanation of the actions taken against my account. Please find the relevant details below : PayPal Email : XXXX Reference ID : XXXX I appreciate your attention to this matter and look forward to your support in resolving this issue with PayPal. Sincerely,
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2023-12-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-23
Issue: Fraud or scam
Subissue:
Consumer Complaint: Hello I received XXXX XXXX regarding a transaction that I did not authorize or approve or even know about. I had an account with XXXX in the past and my account was XXXX and a police report was given to PayPal and their XXXX XXXX debt collector. I have not received XXXX information regarding the outcome of that reported scam. Recently I received this unauthorized receipt of a purchase for a XXXX. I do not own any XXXX or XXXX and never intend to purchase XXXX let alone on the internet. I have attempted to contact PayPal but my attempt to recover my email to communicate with them was not successful The say that they have my email but when I attempt to reset my password it says " oops there was a problem and try again later ''. I do not know how this company gained access to my account as I believe that my account is blocked from usage but I am reporting this issue as identity theft and fraud. Please look into this and advise what can be done. In the meantime I will attempt to call PayPal whilst I await for this investigation regarding a breach on my PayPal " XXXX account ''.
Company Response:
State: MI
Zip: 48236
Submitted Via: Web
Date Sent: 2023-12-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-23
Issue: Unauthorized transactions or other transaction problem
Subissue:
Consumer Complaint: I have been a victim of a massive identity theft. Venmo allowed hackers to access my account and attach all my credit cards and debit cards and stole all my money along with creating other accounts in my name and has made no attempts to reemberse my money
Company Response:
State: MA
Zip: 015XX
Submitted Via: Web
Date Sent: 2023-12-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-23
Issue: Trouble accessing funds in your mobile or digital wallet
Subissue:
Consumer Complaint: Venmo suspended my account about 4 months ago and they held onto {$730.00} of my funds for lost prevention purposes I guess. About a week ago they send me an email saying that those funds that were held are now available for me to transfer into my bank account, however they didnt make it so that I could link a bank account or card. Ive reached out several times and was told that they had to escalate this issue to a specialist and to wait 5-7 days. Only for A specialist to email me a robotic response saying that my account is suspended for good and the funds will be held up to 180 days and I will be contacted when its available for me to transfer, which makes no sense because I already waited and I already received the email saying my held funds is now available. They keep making me go in circles, how can I transfer my funds if they wont let me link any of my accounts. Why do I keep having to wait 7 more days for? Please let me have my funds already
Company Response:
State: IA
Zip: 50320
Submitted Via: Web
Date Sent: 2023-12-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A