Consumer complaint received 2022-12-05
Company: Paypal Holdings, Inc
State: CA
Product: Debt collection
Sub-product: Other debt
Issue: Attempts to collect debt not owed
Sub-issue: Debt was result of identity theft

Complaint:
Dear CFPB Staff My name is XXXX XXXX and I hope my complaint is reaching you in good health and spirit. 

Due to my ongoing inability to resolve my dispute with VENMO I am reaching out for your immediate intervention as my final attempt to relive this matter without having to initiate formal legal action via binding arbitration hosted by the XXXX XXXX XXXX ( XXXX ). 

On XX/XX/XXXX my subscription as a longtime Venmo account holder was temporarily frozenwhich I previously maintained absent any dispute for years. 

Attachments will be forwarded with this complaint Dispute History : On XX/XX/XXXX I checked my bank account activity with XXXX XXXX XXXX XXXX XXXX XXXX '' ) at which time I noticed a then pending unauthorized financial transaction with VenMo. It appeared that a monetary transaction was pending with Venmo whereby I supposedly had authorized the forwarding of XXXX XXXX dollars ( {$1500.00} usd ) to one, XXXX XXXX XXXX, a person I have never known, or met in my entire life. 

This XXXX XXXX XXXX could never validate or substantiate a prior relationship ever existing between themself and I. 

In attempt to invalidate that same transaction I contacted XXXX  XXXX XXXX on XX/XX/XXXX and informed them that I have never knowingly authorized any payment to a XXXX XXXX XXXX to my longstanding history as a trusted bank customer, XXXX  they initiated a formal stop payment upon my request. 

At the same time, I took further initiative by deleting my VenMo bank information to assure the alleged monetary transaction would not be processed. 

I, subsequently, notified VenMo personnel of the steps I had taken to assure that this erroneous monetary transaction had been cancelled by all parties involved. 

Unfortunately, all of my attempts, in tandem with the actions initiated by my bank ( XXXX  ) proved to have been a colossal waste of everyone 's time and effort as Venmo personnel still proceeded to process that same bogus funds request. 

Since then I've been inundated with telephone calls, and emails demanding my repayment of the same illegal and felonious financial transaction. 

To add insult to injury, Venmo personnel is asking that I initiate a Police Report for theft, when in fact I have not suffered any theft whatsoever. I have gone ahead and filed a police report as requested and I consider VenMos action as a theft A proper investigation on your behalf should prove each and all of my claims contained herein are based entirely in fact and truth. 

As I would imagine is the case where you are concerned as well, I have far better things to do with my time, energy and money than to mount a formal legal action against PayPal, Venmo, and all parties involved in sullying my name, reputation ( albeit financially & socially ), not to mention the emotional stress, trauma and this horrendous experience has caused me and my entire family. 

As stated earlier, your immediate intervention is hereby requested. 

With respect ; XXXX XXXX ( XXXX ) XXXX XXXX XXXX

Company response to consumer: Closed with monetary relief