If you use a peer-to-peer service like Cash App to transfer money and make payments, you’ll need to know whether the platform is secure.
One of the concerns of most users is whether the Cash App transactions are traceable. So, if you are worried about this issue, here’s all you need to know.
Is Cash App Traceable in 2023?
Cash App transactions can’t be traced because they are already private by default in 2023. However, the financial platform keeps track of all your transactions, personal information, and payment history. Therefore, if your information is required by law enforcement agencies, Cash App complies and may turn over the data.
Keep on reading to find out whether Cash App collects your personal information, whether it’s traceable, and if they give it to the government.
Can Your Cash App Transactions Be Traced?
Fortunately, Cash App transactions can’t be tracked by any third party because the company protects them.
Also, you can’t track any other person’s transactions; rather, you can only keep up with what is in your account.
Cash App is already private by default because you’re the only one who can view your transaction history in your account as the authorized user.
However, Cash App will share your transaction with enforcement agencies, if need be, because they can view all the information.
How Can You Track Your Cash App Transactions?
If you need to track your transactions, follow these steps.
- Open Cash App on your mobile phone
- On the homepage, click on the “Activity Tab.” This will display the history of your financial transactions under the different payment methods.
- Click on the payment type, wallet balance, or Cash Card to access all your transactions.
Does the IRS Track Cash App?
Fortunately, the Internal Revenue Service (IRS) doesn’t track Cash App transactions. However, Cash App is required to report the information to the agency in some instances.
As of January 2023, Cash App is required to report payments for services and goods on Form 1099-K for transactions worth $600 or more.
Cash App started enforcing this following the signing of the American Rescue Plan Act into law in 2021. However, you need to know that the reporting is restricted only to business accounts.
Therefore, if you use Cash App for sending and receiving money from family and friends, your information won’t be reported to the IRS.
Also, Cash App reports to the IRS if you trade in Bitcoin. You’ll receive a tax form, 1099-B, which is provided by 15th February of the following year after your Bitcoin sale.
Does the Police Track Cash App?
Just like with the IRS, the police can’t track Cash App payments unless it’s necessary.
According to the Cash App Safety and Compliance With Law Policy, there are some conditions that the company has to disclose information to comply with the law and government requests.
Additionally, the policy can only track your Cash App transactions if they have a legal warrant and order.
What Information Does Cash App Collect From Your Cash App Account?
To keep the financial platform secure, Cash App collects some personal data from the customers’ accounts. Here’s some of the information collected:
To comply with the law, Cash App collects information that’s used to identify a user, such as a phone number, email address, $Cashtag, zip code, signature, and IP address.
Cash App needs transaction information, including the data required to make and accept payments. This includes:
- Names of transacting partners
- Time and place of the transactions
- Transaction description
- Amount transferred
- Payment methods and devices used
Also, Cash App will collect financial information, including your payment card number, bank account, and Cash Card number if you order a debit card.
Verified Users Details
To verify your Cash App account, you need to provide your full address, identification, date of birth, Social Security Number, and a photo.
Cash App will collect these details because you need to verify your account to increase the transaction details and purchase Bitcoin.
Cash App traces your IP address, device location, and the location of your network provider.
However, you can disable the geo-tracking in your phone settings. This might affect some of the features; therefore, you can try it out and see how the app’s usability is impacted.
When you create an account on Cash App, you have the option to allow the platform to access your contacts by uploading them.
This can be helpful because it helps you find people easier when sending money.
You can invite others to Cash App to reduce the risk of sending money to the wrong contacts and provide extra personalized services.
However, you can always change the settings to stop sharing phone contacts with the app, though you’ll still need to enter the recipient’s details when sending money.
Can You Delete Your Cash App Transactions?
Unfortunately, you can’t delete your Cash App transactions; the only way to get rid of your history is by deleting the account permanently.
If you’re thinking of deleting the account to avoid traceability, you don’t have to worry about it; Cash App is safe.
To know more, you can also read our posts on whether Cash App is free, what are Cash App Boosts, and what time Cash App deposits.
Cash App transactions can’t be traced because they are already private by default. However, the financial platform keeps track of all your transactions, personal information, and payment history.
Therefore, if your information is required by law enforcement agencies, Cash App complies and may turn over the data.