cancel
Showing results for 
Search instead for 
Did you mean: 

Is paypal / synchrony bank committing fruad?

Highlighted
Member

Is paypal / synchrony bank committing fruad?

Based on my issue and others I read in this forum, this company is sitting on peoples payments to get extra interest money!!! I am very disappointed in this new Mc from paypal. I use the card for both business and personal, which i pay in full every month. The first month I paid the full balance of 3500, (2 days before the due date ) and received notice that my payment was on hold because of the size of the payment. The payment was on hold for about 2 weeks before it posted even though it was taken from my bank the next day. The following month i broke the payments into 3 smaller payments ( all before the due date). 2 of the payments processed, 1 is still saying pending. I called customer service and they said because there were multiple payments made, the put the largest payment on hold. It cleared my bank on 6/30 and is still showing pending on 7/8!!!! Ridiculous! I'm convinced thar These folks are sitting on all this interest while holding payments. If i have a 5000 credit line, of course ill be making a large payment every month. I asked them to flag my account so this wont keep happening but they cant. None of my other cc cards even remotely practice this nonsesnse and fraud. I'll be cancelling this card and going with another more honest merchant.
1 REPLY 1
Highlighted
Moderator

Re: Is paypal / synchrony bank committing fruad?

Hi @Lilcrazy

 

Sorry if making payments to PayPal Credit has caused frustration. Bank transfers normally take 3-5 business days to process. When you make a payment to a credit product, the credit company will usually post the payment in a couple of days hoping that the payment will clear. If there are transactions larger than normal, the system will make sure the payments clear before they're added to your balance. For either of these processes, we wouldn't earn interest on your money as bank transfers are handled by the government. I hope this helps clear up some confusion on making payments to PayPal Credit. 

 

Thanks, 

Drew