Consumer complaint received 2023-08-25
Product: Credit card — General-purpose credit card or charge card
Issue: Problem with a purchase shown on your statement — Card was charged for something you did not purchase with the card
Company: Paypal Holdings, Inc (FL)

I wanted to pay a {$500.00} invoice to XXXX XXXX. He wanted me to use Venmo. I had no experience at all with Venmo. On XX/XX/XXXX XXXX XXXX sent a notice to Venmo telling them to pay XXXX {$500.00}. That is part of the Venmo process. 
I went to Venmo on the morning of XX/XX/XXXX, followed their instructions. I entered XXXX XXXX, physical address, his email address, his phone number, and his name. Then I was asked to enter a credit card number and then, they kept asking a lot of personal information until I was about ready to call it off. 
I clicked their send button ( whatever it was ). I waited a while and asked XXXX XXXX if he received it. He had not. 
I went back into Venmo and eventually reached a service person. We were on the phone for almost two hours. She seemed more confused than me. During the conversation she said I already had an approved account, I was surprised. I found out that Venmo had crossed over through XXXX and collected what was supposed to be confidential info and got into a different entity I own. I told her firmly that I absolutely did not want to use that entity. I did not want it involved. I told her to close the account. She said she could not close it unless I sent a photo ID and two forms of government identification. I told her it was their mistake ; I gave them no ID to open it. I did not give them any information about the other entity, but they still opened an account. 
Eventually, {$500.00} was sent to XXXX XXXX. I do not know which entity was used. XXXX XXXX confirmed he received it. I received no confirmation from Venmo. 
Around XX/XX/23 I received a XXXX XXXXXXXX XXXX credit card statement and saw two charges for {$510.00}. There were also two charges of {$20.00} to XXXX XXXX  XXXX and some interest charges. 
I figured out what was going on when customer service said that was a charge for cash withdrawal and a little something for XXXX  XXXX XXXX. I have never done a cash withdrawal using a credit card anytime in my entire life. This card has a credit limit of {$36000.00}. I asked what would happen if someone did the same thing as Venmo. Well, she explained, they have a side deal with Venmo that skips those usual precautions. 
After this I checked around and found that Venmo had made two transfers to XXXX XXXX. I discovered two confirmations had been sent to the email of the other entity. I received nothing to the entity I was registering. 
Both confirmations were sent to XXXX XXXX at the exact same address ( copy attached ), the same phone number, and the same email address. However, the first XXXX XXXX had a different physical address, phone number and email, but they sent it anyway and I do not have address, phone number or email so I could not ask for them to return the {$500.00} sent to them by Venmo. This is their mistake and should be their responsibility. 
The second confirmation went to the address, phone number, and email I sent to them, but they have an internal way of differentiating similar names so XXXX XXXX they identify internally as XXXX XXXX This designation has no meaning, no standing or legal significance except as an internal reference used by Venmo. 
I have attached copies of relevant documents to verify what I have explained here. 
As corrective action I suggest that Venmo refund {$510.00} over the credit card they have on file. 
I also suggest perhaps investigating Venmo for legal but unethical semi-fraud activity. I googled up customer complaints on Venmo and found over 200 pages of written complaints by customers whose funds are frozen, are unresponsive, or problems similar to this. 
It appears the only real service Venmo adds that XXXX does not is that it enables commercial transactions that can take place without IRS reporting and banks like XXXX XXXXXXXX XXXX participate because collecting enough fees adds directly to their bottom line. 
{$500.00} is not a lot of money to me, however, I do not like to be cheated by scams operated by billionaire owned companies like XXXX and its Venmo that are currently experiencing a squeeze on their transaction fee margins. 
Thanks for your assistance.