Consumer complaint received 2023-08-07
Product: Money transfer, virtual currency, or money service — International money transfer
Issue: Other transaction problem — 
Company: Paypal Holdings, Inc (GA)

Dear Sir ir Madam, I hope this letter finds you well.

I am writing to lodge a formal complaint against XXXX, a service by PayPal, in relation to a recent transaction that has caused significant inconvenience and distress. 

On XXXX XX/XX/2023, I initiated a transaction through XXXX, transferring {$6500.00} USD from my bank account in the United States to my XXXX XXXX graduate school tuition fee account in the XXXX XXXX. The transaction was carried out using XXXX XXXX services, with the Transaction ID for the transfer being XXXX. 
Unfortunately, even after almost one month since initiating the transaction, my XXXX XXXX tuition fee account has not been credited with the stated amount. 

I have made numerous attempts to contact XXXXXXXX XXXX customer support to inquire about the status of the transaction and request a refund. However, their responses have been evasive and unsatisfactory. According to their representatives, the delay in processing the refund is attributed to issues with a third-party provider, but they have failed to provide any concrete timeline for resolution. 

They will not honor their refund policy, as listed on the website, and have no consumer protections in place for when situations like this occur. They promised a full refund in case of problems with transfer, but each time we try to collect on this policy, we are told that it's not possible to receive any money back. 

As a financial institution headquartered in the United States, this feels very unprofessional and unacceptable on their part. They can not tell us where our money is, even after almost 1 month. 

We initially tried reaching out to PayPal, since XXXX is advertised as a PayPal service, and both share overlapping customer service centers. However, PayPal said their hands were tied. We have tried everything from reaching out to our banks to calling and emailing XXXXXXXX XXXX  various customer service departments. We have found ourselves consistently helpless in this situation. 

We have called almost every day since the initial transfer, which was promised to take no more than XXXX hours. Almost daily we are lied to about estimated times of when a fix will occur. 

This delay has caused significant financial strain as my XXXX XXXX tuition payment deadline has passed and his university accounts have been completely frozen. We are now left with limited options to ensure his continued enrollment, and have even had to take out loans to cover what XXXX won't release. 

The lack of transparency and failure to provide timely support from XXXX have exacerbated the stress and uncertainty surrounding this matter. 
I kindly request the following actions to be taken in response to XXXXXXXX XXXX  lack of professionality, transparency, and suspected fraud : 1. An immediate refund of the full amount of {$6500.00} USD back to my account.

I believe that, as a reputable financial service, XXXX should prioritize customer satisfaction and promptly resolve issues of this nature. My attempts to communicate with their customer support have been met with inadequate responses, leaving me with no choice but to seek assistance from the Consumer Financial Protection Bureau. 

I kindly request the Consumer Financial Protection Bureau to investigate this matter and work towards a speedy resolution. Please find attached all relevant documentation, including transaction details ( Transaction ID : XXXX ) and communication with XXXXXXXX XXXX  customer support. 

Thank you for your attention to this matter. I look forward to a timely and satisfactory resolution to my complaint.