Consumer complaint received 2018-07-20
Company: Paypal Holdings, Inc
State: CO
Product: Money transfer, virtual currency, or money service
Sub-product: Mobile or digital wallet
Issue: Confusing or missing disclosures

Complaint:
I set up a paypal account usong my business name after that i sold an item on XXXX for {$2100.00}. I sent the item and the buyer recieved the item and was happy with it. When my funds finally became available. Only then my funds were put on a 180 day hold for no reason. They i was told my account is lonked to another account which i proved that i do not have nor have i ever had a paypal account before this. Then they said it was because i needed to change the name on the account. So my SSN number is currently linked to this account. My home and business adress are linked to this account. My photo id with my legal name is linked to this account. Amd my government issued cell phone is linked to thos account. Additionally i was required to send 15 additional documents to prove who I am. After i had done so they then told me that paypal does not do name changes and that i needed to wothdrawl my funds and close the account and reopend one on the correct name. Problem is they will not allow me to do so.. After figbting with them and sending over 75 emails and 120 phone calls later. I recieved a phone call from paypal on XX/XX/XXXX. From the account review department. They stated they had reviewed my account and were going to release my funds early and i will ne recieving an email eith further instructions. The next day, XX/XX/2018, i recieved the email from someone named XXXX at the account review department. It stated they reviewed mu account and are releasing my funds. It went on to explain how.. When i attempted to do so it still was not available. I then called paypal only to have them tell me that they never said that. Then when i told them i can provide them with a reclrded phone call and the saved email they retracted that statement and told me that it they a retracting that overturn on my money. Another " supervisor '' then told me that it was in error and they made a mistake.. Not sire how that would be a mistake as i physically spoke with a paypal representative who called me and then recieved a email. After that i explained to them that they were in violation of there own policy by providing me with false documents as well as violating the colorado state Money transmitter laws which they hold a license for, which states that they are only legally allowed to withhold funds for up to 10 days.. Well here we are 3 and a half months later and nothing. Additionally they are witholding {$2100.00} of my hard earned money for no reason, in an interest bearing account. They are making money off my funds and giving me no access to this money whatsoever. Furthermore i sent an email, a letter by mail and verbally told them that I do not give them any permissions to hold my funds in an interest bearing account without giving me any access to said funds.. I have said this two them now 9 times and they just ignore me.. I provided every single thing paypal asked for. I followed all of paypals rules amd regulations. But still they have {$2100.00} of my money and will not lrt me have any access to these funds. They say in case of charge backs, but the problem with that is that if the buyer were to do a charge back at this point. It would be an illegal charge back and would be fraud therefore they would not even pay the buyer out anyway. So there claim of holding my funds for 6 months in case of chargebacks is not possible..

Company response to consumer: Closed with explanation