In a nutshell

Although Cash App makes it convenient to send and receive payments, you also need to be careful to safeguard your information to prevent scams.

Common types of Cash App scams

The aim of thieves or scammers is to get you to part with your money, using Cash App as the method to do so. In most cases, if something sounds like it’s too good to be true, it probably is. The more you are aware of the common types of Cash App scams, the more prepared you are to spot and stay away from thieves.

Many of these scams have spread in different variations over the years including giveaways, accidental payments and phishing attempts.

1. Fake giveaways

Some websites or social media accounts pretend to run giveaways, allegedly officially approved by Cash App. As in, you can enter their giveaway for prizes that are supposedly in partnership with Cash App. You may need to provide information to enter the giveaway or to claim a prize you’ve won, like your login information and PIN number.

Some scammers may even ask you to send money in order to claim your prize.

2. Cash flipping

Sometimes referred to as a “clearance fee,” some scammers may claim to help you earn more money if you first send them money. You’ll then get more money in return, effectively “flipping” your cash. Once you send funds, you’ll never hear from them again.

3. Payment claims

You may receive a request for payment from a scammer claiming to be a legitimate source you owe money to. For example, you may have sold an item off an online marketplace and the scammer claimed not to have received it, demanding a refund. The scammer may even say that you have a payment for you (from unclaimed funds, for example) but to receive it you first need to send money.

4. Payment deposit

If you’re trying to reserve a service, like help with finding an apartment or a custom birthday cake, the scammer may try to get you to pay a deposit first through Cash App. You’ll send the money, and the scammer is nowhere to be found.

5. Accidental overpayment

You may receive a payment from a scammer claiming to be an accident and request that you refund the amount back to them. Once you do, the scammer will dispute the money it sends you through their bank or credit card company. Meaning, the money you refunded actually came from your own funds.

6. Phishing attempt

Phishing is when scammers attempt to get you to part with your sensitive information. One of the most common ways to get your information is for thieves to lead you to a fake website posing as a legitimate one. There you’ll be asked to enter your personal and financial details, which scammers will use to commit identity fraud or drain your bank accounts.

7. Fake Cash App support

Someone posing as a Cash App representative may ask you to “confirm” details about your Cash App account or even other sensitive information. Similar to the phishing scam, thieves are attempting to get your information to access your funds or use your personal details for other unscrupulous means.

Is Cash App safe?

Yes, Cash App is as safe as other types of mobile payment apps. You can send and receive payments, as well as other features including investing services and the ability to file your taxes for free.

Some safety features Cash App employs include:

  • Encryption and fraud detection technology.
  • Secure servers.
  • Account verification and authentication.
  • Privacy controls.

Of course, how safe Cash App is will also depend on how you use it. If all you’re using it for is to send and receive money from people in real life, for example, you’re most likely fine. However, if you’re engaging with strangers on the app, you could be in for more than you bargained for.

Best practices for avoiding Cash App scams

Consider the following best practices to help you avoid Cash App scams:

  • Enable two-factor authentication: You’ll be sent a one-time use login code when you sign into your Cash App account. If you receive this code when you didn’t request it, consider enabling two-factor authentication, where you need to verify your identity using another means.
  • Enable security lock: Turning on this setting means that you need to confirm each Cash App payment either using your Face ID, Touch ID or password.
  • Enable notifications: Getting notified each time there is activity or a transaction on your account will help you spot any potential fraud. You can then notify Cash App as soon as possible.
  • Don’t share personal details: It’s better to err on the side of caution and not share any sensitive information unless it’s with someone you absolutely trust.
  • Verify identity of the person or company: You want to be sure you’re sending a payment to someone that is legitimate. Take the time you check their profile on Cash App and through an online search to verify their identity.

What to do if you have been scammed

If you’ve been scammed, there are several steps you can take. For one, you can report the incident to Cash App support and provide details of the incident. You can also try to dispute the transaction as soon as possible with Cash App.

Other steps you can take:

  • Try to cancel the transaction as soon as you can, or request a refund from the recipient.
  • Contact your bank or credit card that your account is linked to and report fraud.
  • Change your password on Cash App and enable two-factor authentication if you haven’t done so already.
  • File a report with the local police.
  • Block the scammer on Cash App and report them.
  • Report the incident to the Federal Trade Commission (FTC).

The AP Buyline roundup: Safeguard your Cash App details

Cash App offers a lot of convenience and useful features like filing taxes for free and the ability to send and receive money from family and friends. Sadly, scammers are also on the app trying to take advantage of unsuspecting people. Taking measures to protect yourself is well worth the time and effort it could take.

Frequently asked questions (FAQs)

Is it safe to give out your Cash App tag?

No, it’s not safe. Doing so could leave you vulnerable to scammers and thieves.

How do I force a refund on Cash App?

Unfortunately, if you send someone money on Cash App you can’t cancel the transaction. You will need to ask the recipient to refund you the money.

What can someone do with your routing number on Cash App?

If someone has your Cash App routing number it may not be a big deal. However, if someone has your account and routing number, then they can use this information to access and withdraw money from your account. That’s why it’s important to keep your sensitive information safe.