I paid off my PayPal Credit account and they are holding the funds

[PondersosaPine]

Hello Everyone,

A couple of weeks ago, I paid off my PayPal Credit account.   My available credit has not been reset to the full amount; Synchony bank is holding most of the amount until February 9.  I just spoke to them and they claim the reason it that there has been unusual activity on my account because of the large payment where previously I had been making only the minimum monthly payments, and that they're holding most of the money in case I want it back?!  Yes, this was actually stated to me.

What the hell are they doing?  Any help will be appreciated.  I will call back tomorrow during the day to hopefully speak with someone who makes sense.

Thank you, community.

[sharpiemarker · Accepted solution]

@PondersosaPine 

Yes, a search of the forums does pull up instances of customers wanting payments they sent reversed for one reason or another or another or some delay here, here and there. Call them back tomorrow to confirm that you indeed intended to make this amount in payment or wait for the 9th. 

The PPC terms also say, “You must pay at least the minimum payment due on your account by the due date of each billing cycle in accordance with the requirements set forth on each billing statement. Payments received after the due date will be credited as of the next day. You may at any time pay, in whole or in part, the total unpaid balance without any additional charge for prepayment. If you have a balance subject to interest, earlier payment may reduce the amount of interest you will pay. We may delay making credit available on your account in the amount of your payment even though we will credit your payment when we receive it.”

The reason they gave you could be a result of newer internal security policies but it is unusual because you paid two weeks ago. Did they credit your account that you paid on time so you’re not late at least?

[PondersosaPine]

Thanks very much for your answer, SharpieMarker. I had had one purchase in a 24-month payment plan with 12 months to go on which they charged me interest. I called and they reversed it. Thank you for finding this information. I appreciate it! I had attempted to do so without much success. As you said, this may be a security feature.

[PondersosaPine]

I forgot to answer your question, they did credit me with no late fees as I had paid on time. Thanks again!