Date Received: 2023-02-01
Issue: Unauthorized transactions or other transaction problem
Subissue:
Consumer Complaint: Around XXXX through XXXX of 2020, I had received funds through Venmo of around {$2600.00}. The funds were sent to me through a random customer who purchased a lot of clothing from me. I had attempted to withdraw the funds on the same day of the sale and my account was locked. I had contacted Venmo about this issue and they told me my account was locked for 180 days under a review. After the 180 days had passed, I had contacted Venmo and I was informed that my funds would not be released to me. I had made numerous email complaints and Venmo essentially told me that the case was closed and there was nothing I could do. Here is the exact statement written from a Venmo representative : " You are sending and receiving what we reasonably believe to be potentially fraudulent funds and using the service in a manner that have resulted in reversals. Specifically, you received a large number of payments within a short period of time immediately followed by withdrawing the funds. There is no prior history on your account of accepting several large payments in a short period of time and immediately withdrawing the funds. '' I had explained to Venmo numerous times that the transaction was due to a clothing sale. A person had purchased a lot of clothing from me and paid me in total. That is why the amount was high. As for the matter of withdrawing the funds immediately, who wouldn't? What reason do I have to keep that balance in my venmo account when that money was from a sale? Of course I would immediately transfer it to my bank account. I also want to note that I had over a years worth of transactions on Venmo prior to this large sale, so I was not a new user with XXXX transaction history. Venmo had also explained that there were reversals that resulted in a loss to Venmo. This is extremely one sided and unfair due to the fact that I had lost not only the money that I received from the sale, but the numerous designer clothing that I had sold as well. There was no form of flexibility in terms of a partial payment or a reinvestigation on the incident. It was simply I lost my money and there was nothing I could do about it. I am also writing this CFPB complaint 2 years after the incident because I had just discovered about the CFPB. I would like Venmo to give me my stolen money back.
Company Response:
State: NY
Zip: 113XX
Submitted Via: Web
Date Sent: 2023-02-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-02-01
Issue: Fraud or scam
Subissue:
Consumer Complaint: Hi, I am reaching out, because I recently just moved to XXXX XXXX for XXXX XXXX. I never had a Venmo account prior to this incident, and honestly would never use their serves again. I only created an account because i was told by other students, this was a method that one uses to pay bills. With us not having access to a XXXX XXXX, XXXX XXXX, XXXX, etc are very convenient tools. I sent money to the owners property manager for my current apartment. Venmo froze my funds and suspended the property managers account, when he tried to refund back the {$4000.00}. The property manager attempted numerous times to refund the {$4000.00} back. However, Venmo suspended his account and requested documentation in order to release the hold. The requested documentation was sent as requested, however the hold and suspension is still active. This is very strange to me because the property manager was only trying to refund my money back into my account. If he was trying to deposit the funds into his account and Venmo was trying to protect its customer by trying to insure the funds were going to the right person. Then, I could see a reason for the funds being placed on hold. Even if Venmo was trying to make sure the merchant paid taxes because he reached a certain limit. Then, placed the funds on hold prior to him depositing the funds into his bank account. I could understand that, but this is not the case because a serve has not been rendered. I truly feel robbed by Venmo. This whole ordeal feels odd, I never had a financial entity play with my funds like this. Venmo has two parties willing and waiting to return funds ( as Venmos return policy states ), and shockingly there is still a problem. Im frustrated and in disbelief, because no service has been rendered and Venmo has still held on to my money. The fact that I had to pull another {$4000.00} out my bank to pay my apartment deposit ( via another method ) has truly shown me I am not a valued customer. I am a XXXX XXXX XXXX who can not work because of the demand of XXXX XXXX So, to be having to be place in this position is unsatisfactory. Venmo has shown me the company is a fraud, they are not protecting their customers. If anything we need protection from it. I will be filing a complaint with the Consumer Financial Protection Bureau also, because no one should have to go through this.
Company Response:
State: NC
Zip: 28390
Submitted Via: Web
Date Sent: 2023-02-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-02-01
Issue: Unauthorized transactions or other transaction problem
Subissue:
Consumer Complaint: Venmo tells me these transactions were denied. I will provide screenshots from my bank and you can clearly see all the {$200.00} transactions went through. Venmo tells me they did not, they will not write me back and none of the following transactions shows up on my Venmo.
Company Response:
State: KY
Zip: 40065
Submitted Via: Web
Date Sent: 2023-02-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-01-30
Issue: Managing, opening, or closing your mobile wallet account
Subissue:
Consumer Complaint: This complaint is against Paypal.com. I have tried repeatedly to close my Paypal account which was opened less than one year ago. My statement shows a " Paypal '' amount of {$5.00} in my favor. This money was a refund from an online vendor. The refund was to be credited to the original payment form which is my VISA CC. Instead of refunding the money to my CC, Paypal stuck it in their account. Paypal online customer service states that to close my account I am required to do ALL of the following ; 1. Link my checking account to Paypal so they can deposit the {$5.00} for me. I will not link a bank account to this service under any circumstances. 2, When they do transfer the {$5.00} to my account they will be charging me a " flat Fee '' as they call it of {$5.00} and another " {$2.00} '' transfer fee. That's a total of {$7.00}. That has ME owing Paypal XXXX simply for transferring {$5.00} which I told them To keep, flush it. 3. They are also insisting that I furnish my Social Security number for tax purposes. I paid each vendor state sales tax when I purchased an item from them so I don't or would not owe any other taxes. SUMMARY : Pay pal is trying to scam me into furnishing them with my checking account information and my Social Security number. These two accounts in the wrong hands could steal every XXXX I have. That's what this company is attempting to accomplish. They refuse to close my Paypal account unless I comply with their requests. I would like for this agency if you have the authority to require that Paypal close and delete my current Paypal account.
Company Response:
State: SC
Zip: 29588
Submitted Via: Web
Date Sent: 2023-02-21
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-01-30
Issue: Confusing or missing disclosures
Subissue:
Consumer Complaint: Dear PayPal Customer Support, I am writing this email to bring to your attention an issue I have recently faced with my account. I was shocked to find out that my account has been permanently banned without any prior notice or explanation. This has caused me a great deal of inconvenience as I used this account for all my online transactions. Upon further investigation, I realized that there was a wrong disclosure made by someone else who used my account. This was a mistake on their part and I am not responsible for any wrong actions taken. However, I have been banned permanently without the chance to explain the situation and rectify the mistake. I have been a loyal customer of PayPal for many years and this sudden ban has caused me immense harm and frustration. I would like to request your help in lifting the permanent ban on my account and restoring my access to my account so that I can continue to use PayPal for my transactions. I hope you will consider my request and take necessary actions to resolve this issue. I would appreciate your prompt response. Thank you for your time and attention. Sincerely, [ XXXX XXXX XXXX
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2023-01-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-01-30
Issue: Managing an account
Subissue: Problem using a debit or ATM card
Consumer Complaint: I've recently noticed unauthorized transactions showing up in my venmo checking account and I went back and looked and I discovered XXXX unauthorized transactions that is taking place on my account over the last 2 months so I notified venmo and I file disputes on all of these transactions they respond back XXXX days later at XXXX at night that all my disputes have been denied I contact venmo to inquire as to why or what was going on and they told me the decision was made pretty much to deal with it and then told me to have a good night and end of the chat session this is unprofessional it's downright wrong borderline criminal and morally wrong on every level I'm a victim of theft and they treated me as if I was the thief applicable behavior for such a prominent name like venmo
Company Response:
State: FL
Zip: 32505
Submitted Via: Web
Date Sent: 2023-01-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-01-30
Issue: Confusing or missing disclosures
Subissue:
Consumer Complaint: PayPal banned my account on XX/XX/2023. And, their reason is excessive risks involved in doing business with me. Even if I complied with all their legal documents required. I don't have any disputes nor complaints from my customers until now. My account is more than XXXX XXXX XXXX and I just upgrade it recently to business account when I decided to venture as a freelancer selling web designs, ebooks and web hosting. All my hard earned money underwent XXXX Day clearing period by PayPal but I don't complain about it. In compliance with there new seller protection program. And now, they are holding my hard earned money amounting to {$370.00} for another XXXX Days without clear violation on their Terms & Condition. I tried contacting their Customer Service several times and they can not disclose the real reason nor violation of my account. I also tried reaching out via email to their XXXX office but until now they do not respond. With that, may I ask your good office for assistance. Thank you very much!
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2023-01-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-01-30
Issue: Fraud or scam
Subissue:
Consumer Complaint: Venmo has insulated itself from being liable or accountable for fraud occurring on it's platform. Hackers are now able to hack into multiple platforms and steal passwords and phone numbers and Venmo has not taken reasonable action against these activities. On XX/XX/XXXX my Venmo account was comprised and hacked. I was notified that someone was trying to sign in on my Venmo Account by an email alert. I logged into my venmo account to find out that someone had added XXXX additional accounts to steal money from me from my bank account or to defraud others. I was able to delete all of the accounts, however when I attempted to close the account, Venmo made it very difficult. The account is now open and the password appears to have been changed along with the phone number for the XXXX. When I reported this to Venmo, I was sent useless information having nothing to do with the fraud attempt. Venmo has insulated itself from being liable or accountable for fraud occurring on it's platform
Company Response:
State: MA
Zip: 027XX
Submitted Via: Web
Date Sent: 2023-01-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-01-30
Issue: Money was not available when promised
Subissue:
Consumer Complaint: Paypal has decided to penalize my small business by enforcing a unlawful wage cap on my earnings. My company has just started to take off financially after many years of struggling. My business model underwent some changes that resulted in a minor success. When I began to earn over XXXX a month they decided to enforce a ceiling cap and now skim my earnings and hold them for 21 days. This has stopped all growth as I am unwilling to give paypal my hard earned money for 21 days. I have spoken to them and they are unwilling to fix this. I am hoping the government will get involved and help me.
Company Response:
State: ID
Zip: 836XX
Submitted Via: Web
Date Sent: 2023-01-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-01-30
Issue: Confusing or missing disclosures
Subissue:
Consumer Complaint: Venmo permanently deactivated my account, finding that my actions and activity have been in violation of the Venmo User Agreement ( XXXX XXXX XXXX ). However, when I inquired about what actions and activity caused this violation, Venmo support replied " If you have questions regarding this decision, please note that we do not divulge our decision-making criteria in order to protect the systems that monitor activity on Venmo. '' This means that Venmo can, without finding any actual cause or allowing members any opportunity to rectify an error ( whether an actual user error or an error by Venmo ), unilaterally cancel a user account.
Company Response:
State: NY
Zip: 13027
Submitted Via: Web
Date Sent: 2023-01-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A