Cash App has become one of the most popular platforms to send and receive money, with more than 40 million active users.
However, there are times when you can send money through Cash App and get a message that your bank has declined the payment. Why exactly does this happen? Here’s all you need to know!
Why Is My Bank Declining My Cash App Payment?
1. Insufficient Funds
If you try sending money unavailable in your account, your bank will automatically decline the payment because there’s insufficient cash to complete the transaction.
To complete any transaction on Cash App, you need to have enough cash in your account. Otherwise, the bank will stop it.
Therefore, always check the available balance before making any payments using Cash App to avoid this problem.
If this is the problem, you can fund the account and try making the payment once again. However, if the issues still persist, you can contact the bank for further assistance.
2. Security Issues
Banks decline payments if they look suspicious.
For instance, if they notice that you have transferred or received more money than usual, the bank might find this suspicious and reject the payment.
As well, Cash App cancels payments if they notice a potentially fraudulent transaction to protect their users and platform from scammers.
Banks will do the same if they see a high number of purchases made within a short period.
However, you can avoid such issues by ensuring that you keep your account active to avoid raising any suspicion.
Additionally, you shouldn’t accept any funds from people you don’t know, as this could get your account flagged.
However, if the payment is legitimate and the bank has declined, you can contact the customer support team to clarify the situation and approve your transactions.
3. Expired Cash Card
Your bank will also decline payments if your Cash Card is expired. This Cash Card operates just like a Visa Card; therefore, it has an expiry date.
When you attempt to use it for payments past the expiration date, your linked bank account won’t allow the transaction go through.
To use your card again, you have to replace it to avoid issues with declined payments.
You can contact the Cash App team for more information if you need clarification about replacing the card.
4. Typos in the Card Information
Another reason for a declined card is if you entered the incorrect card information. A small typo in the information you submitted to the bank can lead to a payment rejection.
Therefore, check whether all the details are correct, especially the CCV, zip code, and address. If your address has changed, ensure that this is updated to avoid issues with the bank.
However, if the information is correct and the payment is still being declined, you can reach out to your card issuer to confirm that there are no other issues.
5. The App Isn’t Updated
While you can use Cash App without regularly updating it, there are times when you need to upgrade it to get the most basic functions.
Cash App updates its apps to ensure that it provides the best security for its users; therefore, lower versions don’t have this level of security.
Some of the features may not be supported in the older version; accordingly, an update can correct any glitches.
If the bank keeps rejecting your payments, download the latest version of the Cash App from Google Play or App Store and repeat the transaction.
6. Exceeded Transfer Limits
When registering an account with Cash App, you can only send and receive $250 per week or $1,000 every 30 days until you verify your account.
The bank will decline any further payments if you go past this limit.
To fix this, you have to verify your account to get higher limits, which will allow you to send and receive more money.
7. Making a Purchase in a Different Country
Banks are very keen on preventing fraud and identity theft; therefore, if you make a transaction in another country, they get suspicious and could freeze the payments.
So, if you are planning to move to another country, it’s advisable to notify the bank before traveling.
This way, they can add the information to their records and prevent the fraud detection system from stopping your transactions.
Currently, Cash App is only available in the U.S. and the UK; therefore, if you move to any of these countries, you can alert your linked bank to avoid declined payments.
When the payment is declined, you can contact your bank to verify you are the one using the card to make payments.
Declined payments can be frustrating, especially if you urgently need to complete a transaction. However, all declined payments from your bank have a reason.
Your bank declines payments either because you don’t have enough funds in your account, have incorrect card details, expired cash card, have security concerns, outdated app, exceeded transfer limits, or used your card in another country.