Consumer complaint received 2024-07-25
Product: Checking or savings account — Checking account
Issue: Problem with a lender or other company charging your account — Transaction was not authorized
Company: Paypal Holdings, Inc (CO)

I had an original reservation with XXXX to rent a car from XXXX rental cars. The rental was prepaid to XXXX. The rental car was picked up on XX/XX/24. At the time a {$200.00} deposit hold was placed on my Venmo debit card ending in XXXX by XXXX when the vehicle was picked up. Unfortunately the Vehicle was towed and then XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX  and have been ever since. I informed the rental company early on, but they did not recover the vehicle for over a month after the original rental agreement. While in the hospital an employee of the XXXX XXXX XXXX branch at XXXX XXXX XXXX located at XXXX XXXX XXXX XXXX XXXX, XXXX, XXXX XXXXXXXX ran my saved card information ( they take photos of the payment card and ID at time of pick up ) ran my card without my permission in the amount of {$1000.00} as a POS transaction. Transaction ID XXXX. This is fraud. Even with a balance of around {$.00} ( two cents ( Venmo covered the transaction resulting in a negative balance of - {$1000.00}. I did not authorize this transaction nor did I ever apply for any credit or credit product from Venmo. As to why Venmo approved this fraudulent transaction in this excessive amount is beyond me. I subsequently filed a dispute with Venmo on this transaction. In discussions between myself and the merchant, XXXX agreed to reduce the amount charged as I had informed the company of the situation back on XX/XX/24 and again on XX/XX/24. Being as I was charged for the almost 4 weeks they took to recover the car after being informed of its whereabouts as well as my XXXX and then XXXX status. On XX/XX/24 XXXX rental car refunded to my Venmo debit card ending in XXXX the amount of {$810.00} transaction ID XXXX. Venmo at some point switched the reasoning of my claim for the original transaction from an unauthorized/ fraudulent transaction to " purchase not as described. '' When the refund was added to my account, resulting in the reduced, but still negative balance of - {$260.00} Venmo closed the dispute as " resolved. '' This is unsatisfactory. They should not have approved a transaction well over XXXX XXXX dollars when I had less than XXXX dollar in my account. This is extending credit to me when I did not ask for, nor would I qualify for such credit. Venmo would not have approved a purchase at say XXXX XXXX for over a XXXX dollars if I had attempted to make one with such a low balance. Why would they approve XXXX from a merchant, especially when I had such a low balance for over 30 days? Also this does not address the fraud of a XXXX employee running my debit cards information as a POS transaction without my approval or even my presence. I would like the amount charged off or sent back to XXXX who can send me an invoice for the remaining amount, and then payment arrangements can be made. The way this was handled smacks of fraud and predatory lending. I am now left with a high negative balance because of fraud and complicity of Venmo in this crime.