Grades are also broken down by the financial products offered be each institution. PayPal is rated "B-" in Debt Collection, "C" in Credit Cards, "C-" in Bank Account Services, and "B-" in Consumer Loans. Click on any of the financial products to see how PayPal compares.
PayPal has received 804 consumer complaints since April, 2013 – more than 98% of other banks.
Of those complaints, 99.1% of complaints were resolved in a timely manner. The CFPB allows 60 days to resolve complaints before considering them 'untimely.' PayPal meets the 60-day response deadline more frequently than 54.2% of other banks.
After companies respond to complaints, customers may dispute the response indicating that the issue was not resolved adequately. 17.4% of customers dispute PayPal's response to complaints — better than 56.2% of other companies.
Most of PayPal's customers complain about bank account or services with the primary issue being "account opening, closing, or management."
|#||Financial Product||Sub-Product||Complaint Issue||Complaint Count|
|1||Bank account or service||Other bank product/service||Account opening, closing, or management||95|
|2||Bank account or service||Other bank product/service||Making/receiving payments, sending money||94|
|3||Money transfers||Domestic (US) money transfer||Other transaction issues||81|
|4||Money transfers||Domestic (US) money transfer||Fraud or scam||75|
|5||Credit card||Billing disputes||50|
|6||Debt collection||Other (phone, health club, etc.)||Cont'd attempts collect debt not owed||45|
|7||Credit card||Unsolicited issuance of credit card||45|
|8||Bank account or service||Other bank product/service||Deposits and withdrawals||43|
|9||Prepaid card||Mobile wallet||Managing, opening, or closing account||41|
|10||Money transfers||International money transfer||Fraud or scam||34|
|#||Company Response||Response Count||Timely Response Count||Disputed Count|
|1||Closed with explanation||632||626 (99.1%)||166 (26.3%)|
|2||Closed with monetary relief||315||313 (99.4%)||27 (8.6%)|
|3||Closed with non-monetary relief||239||236 (98.7%)||21 (8.8%)|
|4||Closed||6||6 (100%)||1 (16.7%)|