PayPal's answer to my complaint... Yes I'm devastated! RE: Consumer Financial Protection Bureau Complaint No: $######## Dear Ms. Hyde, I am writing on behalf of PayPal in response to your complaint to the Consumer Financial Protection Bureau. Your complaint is regarding a stimulus payment you were expecting to receive using the PayPal direct deposit feature. You are requesting that we deposit $1,200.00 into your PayPal balance and provide additional compensation. Response On June 20, 2018, you created a PayPal account (“Account”) at which time you agreed to PayPal's user agreement (“User Agreement”). On March 21, 2019, a PayPal Cash Plus account was created on your behalf and linked to your Account after you agreed to the PayPal Cash and PayPal Cash Plus Terms and Conditions ("Terms and Conditions"). As stated in the About Your Cash Account section of the Terms and Conditions, “If you have a PayPal Cash Plus account, you can do all of the things you can do with a PayPal Cash account, plus the following:… Set up Direct Deposit of funds into your PayPal Cash Plus account.” During the direct deposit set-up, it will take up to two pay periods for the deposit to reflect in your Account. After set-up, direct deposits will typically deposit in your Account balance the same day the funds are submitted to PayPal. With Congress’s passage of the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act, eligible taxpayers and benefit recipients, including Social Security or Railroad Retirement recipients, are receiving economic impact payments (a.k.a. stimulus checks) from the IRS. The IRS will determine an individual’s eligibility to receive an economic impact payment and where to deposit the funds using information from an individual’s 2018 or 2019 tax return. Please refer to the IRS website for more information on this process. On May 14, 2020, after you contacted PayPal Customer Support, we conducted a review of your Account and our records and determined that we have not received an economic impact payment from the IRS on your behalf in relation to the CARES Act. Therefore, we are declining your request to deposit $1,200.00 into your Account balance. We recommend that you contact the IRS directly for further information regarding the location of your economic impact payment. As stated in the Limitation of Liability section of the User Agreement, “You agree not to hold PayPal responsible for… any damages or losses (including, but not limited to, loss of money, goodwill, or reputation, profits, or other intangible losses or any special, indirect, or consequential damages.)” Therefore, we are declining your request for additional compensation. Explanation of Closure We believe that PayPal acted in good faith and in accordance with the User Agreement and Terms and Conditions when offering the PayPal direct deposit feature to our customers. As we have not received an economic impact payment from the IRS on your behalf in relation to the CARES Act, we are declining your request to deposit $1,200.00 into your Account, and are declining your request for additional compensation. We recommend that you contact the IRS directly for further information regarding the location of your economic impact payment. We offer our sincerest apologies for any difficulties you may have encountered while using our services. Please feel free to contact PayPal's Office of Executive Escalations at ######paypal.com if you have any questions or concerns or if we can be of further assistance. Respectfully, Vickie H. Executive Escalations PayPal, Inc.
