Consumer complaint received 2022-12-29
Product: Money transfer, virtual currency, or money service — Domestic (US) money transfer
Issue: Money was not available when promised — 
Company: Paypal Holdings, Inc (TN)

I am a private citizen who does not hold a job, nor have a career, nor own a business. I was a first-time user of Venmo. My friend, ( the person whose services I needed ) only dealt with Venmo or check, and this person was a verified merchant of Venmo. I had a bad feeling about getting started w/Venmo but swallowed my fears and went ahead and signed up. 

On XX/XX/22, I paid my person in advance for their services. On XX/XX/22, my need for this person did not materialize and my friend kindly reimbursed me my {$100.00} back. That same day, I recd an e-mail fm Venmo ( XX/XX/22 ) at XXXXXXXX XXXX XXXXXXXX, telling me I had the refund. In this e-mail was a blue elongated oval button stating : Transfer to your bank account, which I could have clicked on. Underneath that button there was NOT another button that stated the following in it but what was written underneath the blue Transfer to your bank... button were the words : Or save your balance for future payments with friends through Venmo! Therefore, rather than hassle with putting that money back into my personal bank acct., I thought it would be okay just to have it stay in my Venmo acct., because I knew there would be reason to use my friends services again. ( Just because I had to cancel my transaction didnt mean I wouldnt need them in the future. ) At XXXXXXXX XXXX XXXXXXXX the following day, XX/XX/22, I recd a disturbing e-mail from Venmo, informing me my acct. had been FROZEN!!! The only explanation ( if you can call it that ) was this : Your Venmo account has been frozen due to recent activity that appears to be a violation of our User Agreement. There was no first warning!! It just went right into FROZEN, when it was going to allow me the day before to transfer my funds back into my personal bank acct.!! 

Venmo will not tell me what I did wrong. I am now being told that in order to unfreeze my Venmo acct, -- -not that I can have my funds, mind you.. .but just to unfreeze -- -- I must prove who I am, via Govm't. issued ID, when I did not need this to sign up for Venmo, nor did I need it to make the initial transaction from my personal bank. I have read many, MANY similar complaints in this area, by filers on Consumer Financial Protection Board, ( CFPB ) so we know this mandate is common. ( And I argue the same as this person >>>CFPB Complaint # XXXX : If they needed to verify my ID, why didn't they do that when I first signed up for Venmo? ) Upon reading this disturbing e-mail on XX/XX/22, I first attempted to call into Venmo Customer Serv. that same day, XX/XX/22, and the person I was talking to ( " XXXX '' ) I could not understand. I then both e-mailed Venmo from my personal e-mail acct., and also through their website contact form, asking what Id done wrong. I then called in again to ( XXXX ) XXXX and spoke with XXXX. I could understand him somewhat better than XXXX. XXXX stated that as much as he would like to help, this was handled by another dept. that had no contact by phone. He did acknowledge, however, that he could see my e-mail, and could see that it had been auto-replied to. XXXX told me that the company had between 7-10 business days by which to contact me back but tried to assure me that it may not take that long.

I found the Venmo User agreement on the internet and it states, as far as refunds, this : Refunds When you buy something from an authorized merchant using Venmo and the transaction is ultimately refunded, the money will be sent back to you. Money may not always be refunded to the payment method originally used. https : //venmo.com/legal/us-user-agreement/ ( But it also doesnt state here that your money will not be returned!! ) Why is my account frozen? AGAIN : It wasnt even 24 hours from when I got the XXXX XXXX e-mail, on XX/XX/22, that I could transfer those funds to my personal bank acct., to XXXX XXXX  the next day, XX/XX/22, whereby Venmo froze my acct.!!! The evening I signed up for Venmo, I was taking screen shots as I was going along, and I was never presented with any Terms of Service. 

I am uncomfortable having to produce my Drivers License to a company that is not reputable, at this point. And in CFPB case # XXXX, THAT person acquiesced and gave this information to Venmo writing, I submitted the documentation asked of me. And then frighteningly, he goes on to write : Two weeks later I received an email from Venmo that they had permanently XXXX  my account. And another CFPB complaint ( XXXX ) stated : I turned in my ID like they requested but they still have not released my funds and are saying that it could be over a month before they even get back to me. So what good would it do me to give in to Venmos unreasonable demand ( s ), then, if, as I STRONGLY suspect, I were to possibly end up the same way as these poor people did? And as far as trusting Venmo with this information, another CFPB complaint ( XXXX ) XXXX  stated : I've been advised by legal counsel to absolutely never send any organization such levels of identification, if they have shown impropriety before. And thats EXACTLY how I FEEL AS WELL!!! Venmo HAS been dishonest and HAS now shown impropriety and I do NOT trust them, at this point. If they had required I give them my D. License right away, I would have had nothing to do w/this company. 

And I love what CFPB # XXXX wrote ( as I can BIG-TIME relate!!! ) : I have no ability to remedy this situation and continue to be told that someone will reach out to help me solve this issue, still waiting for that to happen. Venmo offers no other solutions for this issue other than to wait, initially I was told this would happen within a few days, then on the next call I was told 7 days, it was not until the 3rd call that I was told it can take up to 3 weeks. This wait time does not make sense if I, the account holder, can verify the transactions as my own and verify my identity. My bank is able to handle similar issues within 24 hours.

I would agree with the last 2 sentences and would also add that I can get into my Venmo acct. today but before I can, it VERIFIES ME through MY CELL PHONE FIRST!!! ( See screen shot fm XX/XX/22, last p. of my attachment, which shows the code I inputted there, after being sent this via my cell phone... proving I can still get into my acct.!! ) And this is AFTER I go through yet another level of security by putting my e-mail address in their little block ( which I used to sign up for this account. ) Lastly, unbelievably, I was bothered AFTER all of this, to engage in a survey, e-mailed to me by Venmo!! Hey ( my inserted e-mail address!! ) How are we doing? XXXX XXXX XXXX ( NOT GOOD!!!! I did not, and could not, fill it out. ) The last e-mail I received from Venmo, on XX/XX/22, from " XXXX XXXX ( Team Venmo ), '' stated : " Hi XXXX  While we appreciate your interest in using Venmo, we are unable to confirm that you are the owner of this Venmo account. As a result, we will not be able to unfreeze your Venmo account at this time. If you wish that we review this case again, you will need to provide us with a copy or picture of your valid US government-issued ID showing your legal name. You can submit that information using our Document Upload Form, linked here : https : //help.venmo.com/hc/en-us/requests/new? XXXX XXXX XXXX XXXX XXXX XXXX  Even though, evidently, this was their 'response, ' I have still waited their stated/requested ten ( 10 ) business days that I was told on XX/XX/22, by XXXX ( XXXX ) they needed and I am now filing this Complaint on XX/XX/22, asking for CFPBs help. Today, I am also going to e-mail them this exact complaint, to their 2 e-mail addresses I have : XXXX and XXXX. As resolution, I am requesting that 1. ) my Venmo account be UNFROZEN in order for me to 2. ) access it -- -- in order for me to 3. ) retrieve my {$100.00} ( to then place it in my PERSONAL NON-VENMO bank account ).