Security is quite critical when dealing with any platform or app that handles money, such as Cash App.
That being said, millions of users trust Cash App for sending and receiving money. But is the platform safe? Here’s what you need to know.
Is Cash App Safe in 2023?
Fortunately, Cash App is safe because it uses cutting-edge encryption and fraud detection technology to keep user money and data safe in 2023. All the submitted information is encrypted and sent securely, whether you are using a data service or Wi-Fi connection. However, there are some Cash App scams that could make you lose money if you are not keen.
Read on for more information about the safety of Cash App, how to keep your money safe, and avoid scams, along with other useful facts!
How Secure Is Cash App?
According to Cash App, their platform is safe for all users because of the security measures they have in place.
Cash App uses fraud detection technology and encryption to ensure that your data and money are always safe.
Additionally, when you submit any information, it’s encrypted and sent through secure servers, whether you are using Wi-Fi or data service.
Cash App uses the same fraud detection system and standards used to track Square Point of Sale transactions to ensure that the platform is secure.
Furthermore, they are also PCI Data Security Standard Level 1. Cash App also has built-in security features to protect your account from unauthorized users.
Depending on your device, you can use a PIN code or Touch ID to keep your money and data safe.
Can You Get Scammed Via Cash App?
According to the Federal Trade Commission (FTC), Cash App has the highest number of fraud complaints compared to other peer-to-peer services like Venmo and Zelle.
Cash App users are scammed using various tactics. Here are some of the common ones:
Customer Support Impersonators
Fraudsters gain access to customer accounts by pretending to be Cash App customer service representatives.
A scammer claiming to be from Cash App will try and ask you to send money and provide the PIN code or other personal information.
Cash App support will also never ask you for your Social Security Number, bank account information, or full debit card number.
Additionally, they don’t ask users to complete test transactions or download any application. Therefore, if anyone reaches out with these requests, they will likely be a fraudster.
Cash App scammers also reach out to users with a promise to increase money if you first send them some cash.
If someone is promising you free money if you send them a payment, you are dealing with a scam.
Fraudsters also ask Cash App users to claim payment by sending them money to unlock the claim.
Just like with cash flipping, Cash App doesn’t ask its customers for money in exchange for anything.
Home Rental Deposit Scam
Cash App scammers also target people looking for an apartment or a home by promising to find you a cheap place at a lower rate than the market price if you send a deposit.
Pet Deposit Scam
Like with the apartment scams, some fraudsters claim to have purebred pets at a lower price and ask you to send a deposit to secure one.
If you send money to someone that you don’t know for delivery at a later date, you are likely being scammed.
How Can I Stay Safe & Avoid Scams on Cash App?
If you regularly use Cash App, you can take steps to protect your account and user information. Here are some of the ways to stay safe:
- Avoid anything that sounds too good to be true, like cash flipping.
- Only respond to emails from organizations and people you know.
- If you get Cash App emails, they will come from @square.com, @squareup.com, and @cash.app. Anything else is not from Cash App.
- Emails from Cash App or Square will only contain links to legitimate websites. Therefore, if the email contains links from other websites, it’s not from Cash App.
- Cash App won’t ask you for personal details; therefore, you should not share your PIN, SSN, or other sign-in codes with anyone else.
- Update your password immediately after you receive an unsolicited sign-in code via email to protect your account and money.
- Enable Security Lock on every Cash App payment where you need to add a passcode.
- Activate text and email notifications for each cash payment to keep you informed on any transactions.
- If you sign in to your account on a different device other than your regular one, ensure that you sign out.
- Secure your Cash App Cash Card by hiding the information or temporarily disabling it.
Is Cash App Safe to Use With Strangers?
To avoid falling prey to scammers, ensure that you only send money to people you trust and know.
Since Cash App transactions are instant, always double-check that you are sending payments to the right people.
What Should I Do If I Get Scammed on Cash App?
If you realize that you have been scammed on Cash App, you can report this by following these steps:
- Open your profile
- Select “Support”
- Click on “Report a Payment Issue”
- Choose the payment and follow the prompts.
You can also report and block the user if the scam is associated with a specific account.
To block and report, click on the customer avatar to see the profile. You can also search for it by entering the $Cashtag, name, email, or phone number.
Scroll to the bottom, select “Report” or “Block,” and follow the prompts.
Additionally, if you suspect a scam, you should secure your mobile device by adding a passcode.
As well, you should secure the email address associated with your Cash App account by enabling two-factor authentication.
If you receive a suspicious social media message, phone call, email, or text that attempts to collect personal or financial information about your account, report the incident immediately.
To know more, you can also read our posts on how to use Cash App without a card, whether Cash App is available in Kenya, and whether Cash App is instant.
Cash App is safe because it uses cutting-edge encryption and fraud detection technology to keep user money and data safe. All the submitted information is encrypted and sent securely, whether you are using a data service or Wi-Fi connection.
However, there are some Cash App scams that could make you lose money if you aren’t keen. There are different types of scams that users fall prey to with Cash App, so it’s important to keep your account secure. If you believe you’ve been scammed, report the issue to Cash App.