Consumer complaint received 2025-09-12 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: Paypal Holdings, Inc
State: AL

Complaint narrative:
I was contacted by XXXX  on XX/XX/XXXX via email informing me that my account is being frozen pending an investigation. I have contacted them and provided a verification of an ID. I have contacted their XXXX number however I was told by the agent in charge that the team in charge of this decision don't have a phone number to reach them and I can only reach them through an email. I have emailed them several times to inquire about what exactly is the issue. XXXX  contacted me via email again on XXXX the XXXX via email again and informed me that they have deactivated my accounts permanently and that they will keep my funds for 180 days. No explanation was given for why they are keeping my funds or why they are deactivating my account. I have since called twice. This is the reference number I was given by a representative the number is XXXX. He informed me that he can not assist me because I have to contact that team via email only. I have emailed that team twice now requesting to have my fund transferred back to my account. That the funds in question is {$550.00} that I transferred from my XXXX XXXX account to venmo account on XX/XX/XXXX at XXXX XXXX. I can send the screenshots from a XXXX XXXX as well as from XXXX. I have informed the XXXX  team that it seems straightforward to me that if suspect fraudulent activity they can just send the money back to sender because this whole thing revolves around the {$550.00} that I transferred from my cash app to my account in XXXX. I did not think it's legal to keep my funds for 180 days after they deactivate my account so I don't have any other options. In other words XXXX  wants to keep my balance for 180 days. They offered no explanation. They offered no other solution. And they are refusing to let me at least withdraw my money or close my account. Any other bank offers the choice of being able to withdraw your balance once the account is closed but in this case I was told that because they permanently deactivated and that's not the same as closing the account they can keep my funds for 180 days and I can not close the accounts myself so they are giving me no option I need assistance please thank you. The reference number I was given in the email is included below, here is the email they sent me ; You have a new message from Venmo regarding request # XXXX. To respond, simply reply to this email. 

Hello, Thank you for sending us your ID. 

While we encourage the use of XXXX, we must ensure all users abide by our User Agreement. After reviewing your inquiries and account activity, we have found that your actions and activity have been in violation of this agreement. 

As a result, your account has been permanently deactivated and we regret to inform you that we can no longer offer you the XXXX  service. We do not make these decisions lightly, and when we do, it is to help improve the safety of the XXXX  community. Note that creation of a new account will not change this decision. 

The funds in your account will be held for up to 180 days for loss prevention purposes. We will contact you at the email address on file with your XXXX  account should these funds be available for transfer in the future. 

If you have questions regarding this decision, please note that we do not divulge our decision-making criteria in order to protect the systems that monitor activity on XXXX. 

Regards, XXXX XXXX

Company response to consumer: Closed with explanation