Consumer complaint received 2025-01-27 00:00:00
Product: Money transfer, virtual currency, or money service — Mobile or digital wallet
Issue: Trouble accessing funds in your mobile or digital wallet — 
Company: Paypal Holdings, Inc
State: PA

Complaint narrative:
Venmo. 
I created my account back in XXXX. I was able to verify my account with my state issued ID. I was able to link my personal debit card on XX/XX/XXXX. I tried to add my bank account, it connected on my banking app, venmo then gave me an error message and said unable to add bank. My account got suspended for suspicious activity. I submitted my ID once again for verification. My account got unsuspended. I tried to add my bank account again, same error message. I used my debit card to send funds to family and friends for a few months. Outgoing transactions : XX/XX/XXXX - {$45.00}. XX/XX/XXXX - {$110.00}. XX/XX/XXXX - {$90.00}. XX/XX/XXXX - {$70.00}. XX/XX/XXXX - {$75.00}. Incoming transactions : XX/XX/XXXX + {$55.00}. XX/XX/XXXX + {$95.00}. XX/XX/XXXX + {$180.00}. TOTALING {$260.00} ( THE AMMOUNT VENMO IS NOW HOLDING FROM ME. ) And the final transaction was outgoing- {$70.00} on XX/XX/XXXX. 
On XX/XX/XXXX I tried logging in to Venmo and had to reset my password because I forgot it. I lost my phone last week and just reactivated my old device, so the password wasnt saved. So I created a new password and logged in. Recieved an email " New remebered device added. '' I then once again, tried to add my bank account so I could transfer the {$260.00} out of Venmo. Got the same error message after going through the XXXX XXXX steps via Venmo. XXXX XXXX said account was linked via XXXX ( Venmo 's service ) but once again, the error message popped up within a second of the successful linking message. I recieved an email within a minute saying my account was suspended for suspicious activity. I contacted them immediately and asked why my account was suspended. The agent didn't give me an answer and said someone will reach out within 3-5 business days. This was XX/XX/XXXX. Today XX/XX/XXXX I recieved this email. 

Hi there, My name is XXXX and I'm an Account Specialist here at Venmo. Your case has been escalated to me. 

While we encourage the use of Venmo, 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 Venmo service. We do not make these decisions lightly, and when we do, it is to help improve the safety of the Venmo 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 Venmo 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 Venmo. 

Regards, Venmo - Team Venmo So once again, no straight answer why they're holding my money or how I violated anything. Just that they're holding my funds and permanently suspending my account! For me trying to add my bank account? I don't know what to do or how to even handle a situation like this, being basically robbed by Venmo, so I'm reaching out to you guys in hopes you have experience dealing with this type of situation. I appreciate your time!

Company response to consumer: Closed with explanation