Consumer complaint received 2023-11-20
Company: Paypal Holdings, Inc
State: NY
Product: Money transfer, virtual currency, or money service
Sub-product: International money transfer
Issue: Other transaction problem

Complaint:
On XX/XX/XXXX I contacted my bank to file a charge back against PayPal when I sent several payments for XXXX XXXX to a private seller for {$7000.00} ; The seller all of a sudden became uncooperative and even blocked me ; So item not received claim was open with my bank institution XXXX XXXX  ; during the process the institutions involved was XXXX  My card issuer, Visa the processor acting as the arbitrator and PayPal The money transmitter caught self-dealing. When PayPal was notified of the chargeback claim in the chargeback response form which states " If you are able to dispute the chargeback please explain why in the space provided below and provide all relevant details '' ; emphasis on the words able to ; in order to be able to dispute the validity of a chargeback PayPal being licensed by New York State to serve as an agent which is consistent with their schedule 10K SEC filing PayPal would at all times have to act on behalf of someone else ; a counterparty. And at no time can an agent represent themselves in a matter involving two parties ( self dealing ) ; PayPal has in real time disputed a chargeback absent a seller to represent and did just that when they disputed my chargeback with zero grounds to do so legally ; causing irreparable harm such as both my personal and business account being closed, delinquencies on my credit report, inventory depreciation due to lack of available funds to operate the business. PayPal, XXXX and Visa have breached their fiduciary duties to act in good faith ; In the Visa merchant guidelines it states that if the other merchant is disputing the chargeback to review it with the cardholder ; XXXX has failed to do much less act on my behalf which allowed PayPal to be successful in their rebuttal ; I provided all the laws and policies with relevance to this case ; My car issuer XXXX being the authority would dismiss my evidence and Even more egregious send me to the party that was caught self-dealing for a resolution. It's been about 80 days since I open the charge back and I don't have my money back. It seems that PayPal earns interests when they hold funds in their user pool in which they get interest from. PayPal also acquired a company which specializes in short-term loans which would be a very viable reason why they would need to challenge a dispute to hold the funds unnecessarily for 90 days or longer. The gross negligence of all three parties has caused irreparable harm to my business my personal life and is impacted my family. XXXX was aware that PayPal broke the law in self-dealing or acting to serve their own interests absent a party to represent consistent with an agent and done nothing to convey this breach to the regulating bureaus. They would then retaliate by closing my business account preventing me from uploading any more proof. I employ the regulating bodies to investigate all three institutions for this clearly perpetual scheme intentionally disenfranchise clients from a speedy resolution to regain control of their funds. Visa is accountable for turning a blind eye when the proof was right in front of their face and so is XXXX. All calls were recorded all proofs are available upon request.

Company response to consumer: Closed with explanation