Report: #1511256

Complaint Review: Paypal -

  • Submitted:
  • Updated:
  • Reported By: Stephen — Savannah Georgia United States
  • Author Confirmed What's this?
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  • Paypal United States

Paypal Statement balance miscalculated.

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End of month statement: balance incorrectly figured. Beginning of the month balance plus deposits, less debits did not agree with the ending balance. Their ending balance was off by over $20.00. (In their favor). This happened in 3 different months totalling over $60. I figured out that an end of the month food purchase was deducted from the balance, but not listed. This happened on the last day or two of the month in each of the 3 incorrect months.

The transaction did list on the following month statement and was subtracted again from my balance. I emailed them this info to their dispute department. I sent them a spreadsheet showing my transactions and running balances. They replied no error! Their list of errors to choose from did not include statement errors, so I had to pick something, and the best choice was to click on the transaction that was subtracted twice but listed only once. The PayPal dispute dept did not spend enough time to analyze in depth their own math!

They obviously have a glitch in their accounting that is subtracting pending transactions from the month end balance (without listing the transaction because it is not finalized) and then listing it and subtracting it again (with tip included) when the transaction finalizes at the beginning of the following month. The pending transaction should affect available balance only, not actual balance. They don't report actual balance on their statements. They incorrectly use the month end (available) balance as the next month's beginning balance.

This report was posted on Ripoff Report on 08/23/2021 02:56 PM and is a permanent record located here: https://www.ripoffreport.com/report/paypal/statement-balance-1511256. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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