Is Cash App Safe? How to Avoid Scams and Keep Your Money Safe

With scams on the rise, many people wonder about the Cash App security, is Cash App safe to use? Wade Hankins, a resident of Raleigh, North Carolina, used Cash App as a way to allow his tenants to pay him rent. He had a significant amount of money in his Cash App account and wanted to withdraw it. Hankins says he received a phone call from someone claiming to be a Cash App representative who said they would help him transfer the money into his bank account.

He followed the fake representative’s instructions, and all of a sudden, $21,800 was drained from his Cash App account. The scammer also stole funds from Hankins’s linked bank account, causing him to lose a total of $24,000. Unfortunately, scams like this one are all too common. As long as users take measures to secure their accounts and protect themselves against potential scams, peer-to-peer payment apps like Cash App are safe to use. Here’s how you can keep your money safe on Cash App and avoid scams.

Cash App Safety Features

Cash App goes to great lengths to protect your information and keep your money safe. The app’s parent company, Square, is responsible for processing millions of transactions every day via its point-of-sale devices. The company has extended its high level of security to Cash App through several important safety features.

Security Locks

Cash App verifies your identity every time you access your account. Whenever you open Cash App, you are required to enter your security PIN, Touch ID, or Face ID. To keep your account safe, make sure the Security Lock feature is enabled in your app settings.

Secure Coin Storage

Cash App offers its users the opportunity to buy and sell bitcoin straight from the app. To keep your bitcoin cryptocurrency safe from hackers, Cash App stores your bitcoin in a secure offline system.

Account Notifications

Another way Cash App keeps your account secure is by sending you push, email, and text notifications to alert you about your account usage. You can configure these notifications in the profile section of the app. Turning account notifications on will make sure you’re alerted immediately whenever someone logs into your account.

Whenever you sign into your Cash App account from a new device, you will receive a one-time use code via email. If you receive an email containing a one-time use code, but you haven’t recently logged into your account from a new device, update your password immediately. It’s always a good idea to enable two-factor authentication, so your account is padded with an extra layer of security.

Data Encryption

Cash App is PCI Data Security Standard (PCI-DSS) Level 1 compliant. This means all your data is protected during transfers. Essentially, this allows you to send and receive money in the form of encrypted messages, keeping your money safe from hackers during transactions.

Disable Anytime

Cash App offers a free debit card, called a Cash Card, to its users. If you decide to use a Cash Card, it’s important to be vigilant about keeping it secure, just as you would with any other debit or credit card.

If you ever suspect suspicious activity on your Cash Card, or if it gets stolen, you can easily pause all transactions directly from the app. You don’t have to call a customer service line to pause and secure your account – you can do it yourself, instantly.

Fraud Protection

Cash App’s parent company, Square, uses sophisticated fraud detection infrastructure to protect millions of daily point of sale transactions. This same infrastructure is employed in Cash App, and the company is continuing to invest in improvements to its fraud detection systems.

How to Avoid Cash App Scams

Even the most secure apps and digital services can be made vulnerable when users fall prey to scams and phishing attempts. With scams on the rise, it’s important to know how to protect yourself from malicious attempts to steal your information and assets. Here are some steps you can take to avoid Cash App scams and to keep your money safe.

1.   Beware of Known Cash App Scams

How are scammers able to steal money out of people’s Cash App accounts? It seems that users have been victimized by two main Cash App scams – fake customer support and fake giveaways.

Cash App does not have a live customer support line, and scammers take advantage of this. They impersonate a Cash App customer support representative in order to gain access to your mobile device, steal personal information, and drain your accounts. Unknowing users may search on Google for Cash App customer support and end up at a website that appears to be run by Cash App but is actually a scam.

After calling the bogus customer support line, a fake representative will encourage you to download a screen-sharing app that will grant them access to your device so they can “help you” solve your problem. Instead of helping you, though, they will use this app to steal your personal information.

These fake customer support representatives may also ask you to give them your credit or debit card number, your Cash App PIN, or other personal details that will give them access to your account.

Awareness about these scams is one of the best ways to protect yourself from them. Remember that Cash App does not have a live phone support line, and if anyone asks you to supply them with your login information or payment information, it’s a red flag.

You should also be aware of Cash App’s standard methods of communication, so you will be able to tell if notifications and alerts are actually coming from Cash App. Email communications from Cash App will always end in @cash.app. Additionally, emails from Cash App will only contain links to square.com, squareup.com, cash.app, or cash.me. If an email claiming to be from Square or Cash App contains any other links, it is fraudulent, and you should not click on any of the links.

2.   Only Send Funds to People You Know

To keep your funds safe, only send money to people you actually know. Do not publicize or share your $Cashtag with anyone you don’t know in real life.

When you sign up for a Cash App account through the Cash App referral program, you have the opportunity to earn up to $15. To be eligible for the signup bonus, you have to send at least $5 to someone after activating your account. Remember that there are a lot of scammers on the internet, and never send cash to someone you don’t know just to receive a signup bonus.

3.   Set Up Cash App Security Features

Make sure you’re taking advantage of all the security features Cash App has to offer. For instance, be sure to enable two-factor authentication. This setting will enable an email or text message to be sent to your phone whenever there is a new login attempt in your Cash App account.

It’s also a good idea to enable the Security Lock setting so that you have to put in your passcode every time you make a Cash App payment. This will prevent anyone who accesses your account without your PIN from draining your account by making payments to others.

4.   Secure Your Device

Be sure to secure your device with a passcode, Touch ID, or Face ID. If someone steals your device, they will not be able to access your Cash App account or any other sensitive information that is hidden behind your passcode.

5.   Protect Your Private Information

Be vigilant against scam attempts by keeping your private information secure. Never give your private information, such as your Social Security Number, passwords, or card numbers, to people who ask you for them over the phone or via email.

Remember that Cash App will never ask you to provide this information. So, if someone is requesting these details and claiming to be a representative of Cash App, do not trust them.

Bottom Line

Although scams are on the rise with peer-to-peer payment apps, they are completely safe to use when you follow these tips and guidelines.

Unfortunately, scammers will always find opportunities to exploit people. The best defense you can have against scam attempts is awareness. The more people know about these scams, the less effective they will be as scammers become less successful. Do your part and share this information with others, so you can continue using Cash App safely.

Now that you know how you can rely on Cash App, discover how else Cash App can help you with their special features and services. Read 13 Things You Can Do With Cash App.

If you haven’t signed up with Cash App yet, you can sign-up by using our Cash App referral code. Get the code from this Cash App referral article and read the referral guidelines to help you get your $5 referral bonus successfully.