Consumer complaint received 2023-03-10
Company: Paypal Holdings, Inc
State: VA
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Other features, terms, or problems
Sub-issue: Problem with balance transfer

Complaint:
This is a complaint against PAYPAL for cashing a check issued by my bank XXXX XXXX XXXX XXXXXXXX XXXX for {$1800.00}  as a balance transfer, amount which was never credited to my Paypal account balance. I hereby request PAYPAL ( XXXX XXXX XXXX, XXXX, XXXX XXXX ( Phone ) XXXX ) a refund of {$1800.00} plus interest accrued from the time the check was cashed plus financial damages. Details are set out below : For several year, I have had a credit card issued by XXXX XXXX XXXX XXXX XXXXXXXX ). In XX/XX/XXXX, XXXX offered me a 0 % interest for higher interest balance transfers. At the time, I had a PayPal account balance and I decided to use XXXX offer to pay off some of the PayPal outstanding balance. I provided XXXX with all the PayPal account details and XXXX wrote a check ( No. XXXX ) dated XX/XX/XXXX for {$1800.00} and sent it to PayPal. 
After a reasonable amount of time, I checked my PayPal balance and noticed that {$1800.00} had not been credited. I called PayPal Customer Service, after many questions, the representative indicated that the above mentioned check had not been received. 
Next, I called XXXX and they confirmed that PayPal had in fact received and cashed the check on XX/XX/XXXX and a photocopy of the check was provided. 
Throughout the years XXXX and XXXX, I made many calls to both entities and the answer was always the same. I managed to get an appointment for XX/XX/XXXX with a XXXX representative, XXXX XXXX XXXX at the Branch in XXXX, XXXX VA. The meeting lasted for about two hours during which the representative made several phone calls and finally said that there was nothing XXXX could do because they had proof that the check was received and cashed by PayPal and that, for them, the case was closed. 
I waited for months to be contacted by either party, hoping that any of them will finally locate the funds. No one contacted as of today. 
To avoid any damage and to maintain my excellent credit, I returned the {$1800.00} to XXXX, money that Palpal XXXX XXXX XXXX XXXX never credited to my account balance. This event has caused me a great stress and tremendous financial loss. 
I wrote to the Office of the Attorney General of Virginia requesting to evaluate and investigate this consumer complaint. The Attorney Generals office replied indicating that, based on the information provided to them, the Consumer Financial Protection Bureau ( CFPB ) has jurisdiction over my complaint. 
I did submit a complaint through CFPB first against Paypal Credit represented by XXXXXXXX XXXX. The result was that XXXX XXXX, on behalf of PayPal, indicated that this payment has not been received or cashed by them and recommended that I contact the bank that issued the check. XXXX XXXX XXXXXXXX response was that after a review, XXXX determined that the check for {$1800.00} was indeed cashed by Paypal and that the claim should be filed with Paypal to locate where the funds were applied. 
This is the THIRD complaint I file for the same purpose, this time against PAYPAL ( not XXXXXXXX XXXX ) requesting a refund of {$1800.00} plus interest accrued from the time the check was cashed plus financial damages.

Company response to consumer: Closed with explanation