PayPal Holdings, Inc. Money Transfers Complaint

PayPal Holdings, Inc. Money transfers department,

Domestic (US) money transfer Fraud or scam Florida

I recently set up an account on VENMO and have done a couple of small transactions between $ - $100.00. Then two days ago, i had a payment that was being sent to me for $2800.00. I accepted the payment and attempted to transfer the funds, but then received an email from VENMO that said the following " Your Venmo account has been suspended due to recent activity that appears to be a violation of our User Agreement. If you would like to reactivate your account, please reply to this email with a picture of your unexpired US government issued photo identification to begin the review. '' I had no idea what the issue was, but sent a picture of my ID immediately. Then I called them and tried to find out what was going on and spoke to a CSR who informed me that they could not see any details on my account, that it had to be handled by an " account specialist '' and that they would be back in touch within 3-5 business days! I asked to speak to the account specialist, but they said they do n't have phones, and only correspond via email. I


then at - last night, received an email stating that they could not resolve the issue because " I had not sent a copy of my bank statement '' No one had told me or asked for my bank statement in their previous communique and to be honest, I do not feel comfortable sending it. I then went online and did some research and saw hundreds of complaints posted saying that VENMO kept their money and never gave it back and the amounts all ranged around $2500.00. They talked about the same issues i was dealing with, with no answers, no way to reach anyone that could assist and no resolution. I now suspect that what they do is " flag '' any transaction that is in that $2500.00 range and use any excuse to hold the funds. Imagine if they are doing this to millions of people? If they have some kind of rule that is violated ( unbeknownst to the parties involved ), why not stop the transaction, not accept the funds and let the two parties involved know that it wo n't be going through? Instead what they do is TAKE the money, and then hold it in their accounts and not give it back to the person that paid the funds nor do they give it to the person that is owed the money. That seems highly illegal. I would appreciate your assistance in helping me get this resolved. Not just for me, but I believe there could be a major scam going on here, with millions of people using VENMO and it needs to be brought to light. thank you, - -