Consumer complaint received 2025-07-07 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: Paypal Holdings, Inc
State: NJ

Complaint narrative:
I deposited {$800.00} into my Venmo account and they closed my account for no reason and are trying to hold my funds for XXXX  days. I barely used Venmo prior to this because the app is very difficult to use as far as adding money & they took MONTHS to send me my debit card. However after waiting so long for my debit card I decided to activate it and give Venmo one more try and as soon as I added {$800.00} they locked it. When I asked what I did, all their support team said it was because I connected too many debit cards over the MONTHS that I had the account. After explaining to them that I was once a victim of identity theft so I occasionally re order new debit cards for security reasons they asked me to submit pictures of every single card Ive ever added to my account, which would obviously be impossible. In the past months Ive sent emails offering to provide bank statements to verify any transactions made on my Venmo account and even asked if there was someway they could reverse my last deposit of {$800.00} back to my original account the transfer came from, all of my requests have been ignored. Ive even called several times but the phone support just hangs up every time Im connected to an agent. Venmo has been so slow & unresponsive that after waiting over XXXX  MONTHS for any kind of reply Ive since closed the account that I made the {$800.00} deposit with because I dont want anything connected to Venmo at this point. I just simply want access to my {$800.00}. The entire reason they said they were holding my funds was in case of any reverse charges but outside of the {$800.00} deposit ( which Ive been asking them to reverse but its too late now ) I literally have made less than XXXX transactions with my Venmo account and they are all literally less than {$15.00} so that doesnt make sense. It seems like theyre just trying to keep my money from me as long as possible. Ive look through several online forums and posts and they are 100s of people complaining about Venmo doing the same thing to them and providing no explanation or help other than to wait XXXX  days for them to MAYBE release funds. My entire experience with this app/bank has been horrible. Ive been sending emails for MONTHS with no response. Ive reached out via in the app several times and everything single time Im told a supervisor will reach out within a few hours, up to XXXX hours, it has been WEEKS and no supervisor has ever reached out. I have chat transcripts of me contacting Venmos agents and them lying and giving me incorrect information. There was even an instance yesterday where an agent asked me to submit my ID to complete the review for my account but the chat was disconnected, I then reached back out to another agent who told the agent before her lied and didnt know how to check my account properly but somehow she magically could. Any time I point out how the agents are lying or giving incorrect information or point out how nobody has emailed me they just tell me theyre disconnecting the chat. Its almost as if they are intentionally ignoring all of my efforts to resolve this situation and are intentionally lying hoping that I will just give up on getting my money. I also have names of every single agent that lied or gave me incorrect information too. The email address associated with my Venmo account is XXXX and the phone number associated with my Venmo account is XXXX

Company response to consumer: Closed with explanation