Beware These Common Cash App Scams

Sending and receiving money via peer-to-peer money transfer apps is becoming increasingly popular. And as more people use P2P sending apps, more scammers appear to swindle innocent people out of their money.

In this article, we explore some of the most common scams experienced by users of Cash App. Get to know these swindling scams so you don’t fall prey to losing your money to them.

Table of Contents

What Is Cash App?
1. How Does Cash App Work?
14 Common Cash App Scams You Need to Know About
Final Thoughts

What Is Cash App?

Cash App is a peer-to-peer money transfer app that lets individuals send, receive, and transfer money. With Cash App, you can send money to a friend to cover your share of the rent or the dinner bill. Likewise, you can receive money from loved ones. You can even do your taxes with Cash App. Check out our Cash App Taxes review for more information on this feature.

How Does Cash App Work?

After signing up for Cash App, you can add money to your Cash App account by connecting a bank account and transferring money from the connected account.

Once the money is in your Cash App account, you can transfer it as you wish. Cash App also comes with an option to get a free Cash App debit card. With the card, make purchases from your Cash App account anywhere debit cards are accepted. You can also pay using your personalized Cash App QR code.

There are no monthly or transaction fees to use basic Cash App features. However, you may be charged for some transactions, such as funding your Cash App account with a credit card.

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14 Common Cash App Scams You Need to Know About

Given Cash App’s popularity as a convenient P2P payment app, it should be no surprise that fraudsters have concocted ways to scam unsuspecting Cash App users out of their money.

Here are 14 common Cash App scams you should be aware of in order to keep your Cash App money safe.

1. Cash App Flip Scam

Cash App flipping is a scam that involves a user asking you to send them money. They promise to double or triple that money and send you the higher amount back shortly.

They might call it a money circle as well. Or they may claim to be a non-profit or some other trustworthy organization.

Be aware that the logic behind the scammer’s explanation might seem very logical. They may have a very believable story or a story that tugs at your heartstrings.

In fact, the scammer might even send you money back in the beginning, asking you to send smaller amounts like $2 or $5, and then sending you double that amount back.

But this is just part of the scam. Once the scammer has your trust, they’ll reach out for more money.

You may be tempted to send those larger amounts because their story came to fruition the first or second time around.

However, once you send the larger amount, you’ll likely never hear from them again.

2. Government Relief Scam

Another common scam to look out for is the government relief scam. Users claiming to be from FEMA or some other governmental department tell you that you qualify for a stimulus, COVID relief, or other government benefit.

They’ll then ask you to give them personal information, such as your Social Security number, to verify who you are before they can send the cash.

They might also ask you for your birthdate, address, mother’s maiden name, or banking account information.

Don’t fall for this scam; the government will never contact you through Cash App. It’s simply a scheme to get your personal information so they can defraud you in other ways.

If you get a notification that you qualify for government relief and you think it’s legit, call the government entity the person contacting you claims to represent directly. The customer service agents there can tell you if you are due for a relief check.

3. Cash App Contest Scam

With Cash App contest scams, you may get notified that you’ve won a Cash App money giveaway contest such as the #CashAppFridays contest.

Scammers will claim that your username was chosen and that you’re the winner of a large or smaller prize. The notification will ask you to send money, supposedly to cover payment delivery or some other reason.

You may be asked to share your login information. Never give this information out or send money, no matter how legit it seems. Once scammers have your login information they can use your Cash App account to cause all kinds of trouble.

Remember that although Cash App frequently has cash giveaways, they’ll never ask you for your login information or ask you to send money if you’re a contest winner.

4. Cash App Refund Scam

You might be at risk of a Cash App refund scam when selling something on an online marketplace.

The scammer will express interest in buying your item. Later, they’ll ask you to refund the money for the item they sent money for, as they’ve changed their mind. The only problem is they’ve never sent the money for the purchase in the first place. The scammer might harass you several times to send the money back to them.

Protect yourself from this scam by never refunding a buyer unless you’re certain they’ve sent you a payment – and the payment has cleared, and the money is available in your Cash App account.

Some Cash App scammers will ask you for your Social Security number. These scammers usually pose as representatives of a legitimate authority.

For example, they might tell you they are a Cash App representative wanting to verify your account. Or they could pose as a government entity representative and threaten you with legal action.

Never give your Social Security number online or over the phone unless you’re 100% certain who you’re talking to. The best way to be certain is to ask for a phone number to call back on and then verify that the phone number given truly belongs to the agency the caller says they’re with.

But know that most companies and organizations won’t call you out of the blue and ask for your Social Security number. Therefore, it’s best not to give your Social Security number out over the phone unless you’ve called the agency you want to reach directly.

6. Romance Scam

A very common scam in the Cash App world – and the online world in general – is the romance scam. You connect via a dating site; soon, the contact entices you with sweet words and promises of wonderful times together.

The scammer patiently establishes a relationship with you over a few weeks or months. They gain your trust and work to forge the appearance of a friendship.

Next comes your online love’s notification of an emergency. Their car broke down. Their grandma is sick. The dog died. Whatever it is. And, can you please send money right away?

They’re in desperate need, and they don’t have any other options. However, once you borrow or give them the money, they disappear along with your hard-earned cash.

The key indicator that this romance may not be legit is that your new love refuses to meet with you in person or on video chat. If that’s the case and they ask you for money, beware of a potential scam brewing.

7. Cash App Support Scam

In this scam, you get a direct message or an email notifying you of a security breach or some other situation that requires you to log in to your account or share your login information.

There might even be a link that brings you to a site that looks remarkably like the real Cash App site.

You’ll reach a login screen. However, when you log in, the scammer uses your login info to drain all of your Cash App funds.

The best way to tell if a security breach or other warning is really from Cash App is to contact Cash App support from your app.

Explain the situation and ask if the notification is legit before you answer the email or message. Since you contacted Cash App support directly from your app, you can be assured that the real Cash App support team can help you identify whether or not there’s an issue with your account.

8. Cash App “Great Deal” Scam

This Cash App scam works by notifying you of an “amazing” deal on an item. The user might claim to sell jewelry, tickets to a popular event, or some other highly valuable or popular item.

For instance, they may claim to have front-row tickets to a sold-out concert in your area. Or offer you a highly discounted price on a gold necklace.

There is usually an urgency with these false sale advertisements. For instance, “I lost my job today! I need to sell these tickets ASAP to pay my rent!”

The fake seller appeals to your sense of empathy and eagerness to get in on a great opportunity. However, once you send the money, the tickets or other high-value items never appear, and the seller’s account is deleted.

Moral of the story: If it’s too good to be true, it probably is, and only buy from trusted sources.

9. Rental Property Scam

Rental property scams target people looking to rent a home or apartment. The rental property advertised usually looks really nice.

It’s offered for a suspiciously reasonable monthly rate, too. All you have to do is send a security deposit via Cash App to the “landlord,” and the rental is yours.

Except the “rental” is just a bunch of pictures stolen from the internet and doesn’t exist. Ensure the landlord meets you in person and shows you the rental property in person before you hand over any cash.

10. Pet Sale Scam

This is another Cash App scam that tugs at the heartstrings. You’ll see pictures of an adorable puppy or kitty waiting in the wings for a loving furbaby parent like yourself.

The “seller” will ask you to send money to hold the furbaby for you and tell you they’ll send you pickup information after the deposit is sent.

Avoid falling for this scam by insisting on seeing the animal in person before you pay.

11. Investment Scam

So-called investors use this scam to lure you with a dream of making a quick buck on your cash. They’ll promise you big returns in a short amount of time.

However, you’ll need to send them money if you want to take part in the “once-in-a-lifetime” opportunity. The old adage “If it sounds too good to be true, it probably is” also applies here.

Cash App does have an investing feature. But use the app’s feature directly if you’re going to invest. Or use other legit investing apps like Acorn, Stash, or Robinhood. Don’t fall for the random DM promising you massive returns in a short amount of time.

12. Random Deposit Scam

Waking up one morning and finding an extra $500 in your Cash App account would be nice. But if you get a deposit you weren’t expecting, it’s probably just a scam.

Scammers often make deposits into accounts and then claim the deposit was a mistake. Maybe they sent it to the wrong user. They ask for you to send the money back, which you do.

But they also get the money back from their bank by claiming it was a fraudulent transfer. If you wake up with a random deposit from an unknown user, contact Cash App support for further instructions.

13. Cash App Text or Email Scam

You may receive a scam text or email through Cash App notifying you that you’ve received some money in your Cash App account. It will also contain a link you need to click on to view or accept the deposit or provide additional information.

Don’t click on the link: It’s likely an attempt to steal your personal information.

14. Cash App Gift Card Scam

You may have heard of this common scam. The scammer contacts you to explain that you’ve won a large amount of cash or that they need your help and will pay you back handsomely.

However, they need you to send them a gift card first so they can cover shipping and processing costs. You buy the gift card and send them the card number and PIN. They then use the funds from the gift card and never send you the large amount of money they promised.

Final Thoughts

As you can see, there are many ways in which scammers can try to target your Cash App account. The good news is that you can avoid the most common Cash App scams by following a few simple rules.

For starters, never click on a text or email link if you’re unsure of the sender. And never give out your password or any other personal information online. Remember that no one from Cash App will ask you for your password.

One more thing. If the offer sounds too good to be true, it probably is. At the end of the day, listen to your gut. You’ll have a sense if something seems off.

The post Beware These Common Cash App Scams appeared first on Best Wallet Hacks.

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