Consumer complaint received 2024-10-03 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Problem using a debit or ATM card
Company: Paypal Holdings, Inc
State: CA

Complaint narrative:
On XX/XX/year> my car was broken into at my school parking lot and my backpack was stolen that had my laptop in it. 

I was unaware that I had left my Venmo debit card and ID in the small pocket. The thief was charging my account that were unauthorized totaling in over {$2000.00} within a week timeframe. 

I had my Venmo debit card linked to my XXXX account and was able to withdraw money and use my XXXX card to make purchases. I had thought I misplaced my Venmo debit card somewhere in my house and the whole time it was stolen. 

I didnt realize the card was stolen until XX/XX/year> when Im trying to pay my rent and it got declined for insufficient funds. I immediately call Venmo and balance is nearly zeroed out and the funds were gone. 

I filed the dispute on XX/XX/year> and it was soon denied by their account XXXX on XX/XX/year> and that same day I appealed it and submit additional documents to support my claim. 

4 transactions are still pending investigation as they wait to hear from the merchant. 
XXXX XXXX {$37.00} on XX/XX/XXXXXXXX XXXX XXXX {$20.00} on XX/XX/XXXXXXXX XXXX XXXX XXXX {$11.00} on XX/XX/XXXXXXXX XXXX XXXX XXXX {$300.00} on XX/XX/XXXX These 4 transactions above have been pending for 13 business days. According to the CFPB that Regulation E for unauthorized debit transactions after 10 business days I was supposed to receive provisional credit while the account specialist continue to investigate and hear back from the merchant. 

After I appealed the denial only 4 were approved for credit. 
- XXXX {$420.00} on XX/XX/XXXX XXXX XXXX XXXX XXXX XXXX {$18.00} on XX/XX/XXXX - ATM Withdraw {$1000.00} on XX/XX/XXXXXXXX XXXX XXXX {$14.00} on XX/XX/XXXX The rest of the disputes were denied Venmo stated that I authorized the transactions with knowledge of the account balance. 

The only transactions I felt like it worth appealing was - XXXX {$260.00} on XX/XX/XXXX -ATM Withdraw {$500.00} on XX/XX/XXXX I appealed these 2 transactions twice. The most recent was on XX/XX/XXXX the same day it was denied and submitted new and additional documentation to support my claim. The representative said I should hear from a account specialist in 1-3 business days. The 3rd business day was on XX/XX/XXXX and I called 3 times and the Venmo representatives kept saying there was no update on their end and to wait to hear from the account specialist via email. 

Now were on XX/XX/XXXX and still no update on my money on the appeals. Still no provisional credit after 10 business days for the 4 pending disputes listed above. 

I call Venmo almost 4 times a day to escalate the situation and speak to a Supervisor every time as they have no control over the situation and can only forward the message. I have already filed a police report and an FTC report on this case. Venmo is stating that I committed the transactions with knowledge of the account when the person who has my laptop obviously had access to my email and personal information to know when my direct deposit was added and how much it was ( I will include screenshots ). 

Now Im left with a risk of an eviction and unable to provide and feed my 3 daughters who are under the age of XXXX due to the failure and unprofessionalism of Venmo to contact and notified the status of my disputes and refund me my money while they investigate the fraud. They rather say I committed the fraud, partially refund a few disputes, and close the rest without fully investigating.

Company response to consumer: Closed with explanation