Cash App, a widely popular peer-to-peer payment platform, is being forced to pay back millions to its customers following allegations of security failures and poor customer service. Block, the parent company of Cash App, is required to reimburse $120 million in damages due to its handling of fraudulent transactions and failure to properly investigate certain complaints. Additionally, Block will pay another $55 million to the Civil Penalty Fund, which helps victims of financial violations.
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Cash App’s Refund: What Happened?
Cash App, known for its convenience in sending and receiving money, offering loans, filing taxes, and investing in Bitcoin or stocks, has been facing legal issues after the Consumer Financial Protection Bureau (CFPB) launched an investigation. According to the CFPB, Cash App and its parent company, Block, did not effectively handle issues surrounding fraudulent transactions or provide adequate customer service. In some cases, users were led to believe that their bank was responsible for handling complaints, which was not the case.
For many years, Cash App’s customer support was only accessible through the app or U.S. mail, causing significant delays and frustration for users needing assistance with unlawful transfers. This lack of effective communication and resolution led to the investigation by the CFPB.
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Who Is Eligible for the Refund?
Cash App users who are eligible for compensation include:
- Customers who were promised refunds for fraudulent transactions but never received them.
- Customers whose accounts had unauthorized transactions that Cash App failed to investigate properly.
- Users whose accounts were locked without proper investigation.
- Customers who were not given provisional credits while investigations were delayed.
The CFPB has confirmed that users do not need to take any action to claim the refund. The Bureau will handle the distribution of funds, verifying users and ensuring that payments are processed. Eligible users who have used Cash App in the past six months will receive their compensation in the form of Cash App credit. Users who have not transacted on the app recently will be paid via non-credit methods.
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What’s Next for Cash App?
As part of the settlement, Block has agreed to provide improved customer service, including 24/7 live support and a more thorough investigation process for any future complaints related to fraudulent activity. The company has also pledged to implement enhanced security features such as facial recognition and AI-powered detection systems within the app.
Despite denying the CFPB’s claims, Block is complying with the directive to compensate users and is focused on improving the Cash App experience moving forward.
I used cash app and my account was compromised
Tried to get ahold of anyone…nothing. Chalked it up to unreliable company and I told everyone not to bother with the app
I was a faithful Cash app user since 2019. The first time that I had a problem with the app was trying to chat with customer support in the app for unauthorized use on my account. I had filled my taxes with the tax service I used for years. I had taken $800 of my refund, and deposited it into my cash app account. The next day $500 was gone from my account. I was seriously upset. I got on chat with customer support, and I told them what was going on, and instead of answering any of my questions they told me that I would have to file a dispute, and they were going to escalate my complaint and I should hear something back in 5-7 days, and I would get an email once they came to a conclusion on my case. I said I guess. I said well, can you see anything on my account as far as any transactions between the time I deposited the money and when and where it was withdrawn or spent? Because I don’t have anything showing up on my end after I made the deposit. They said I have escalated your case to a department for investigation of your complaint if there is anything else I can help you with besides this situation please feel free to reach out. I was beyond mad. I never got an email, and I never heard back from them. At that time I didn’t know that I could call customer support, and talk to someone. So I messaged chat and asked for the customer service number, and they wouldn’t give it to me! And I told them that it had been 9 days and I hadn’t heard anything at all from them, and they put me on hold. When they came back they said that it hadn’t been 7 business days yet, and to please give them a full 7 days to investigate my complain, and started all over again that if I needed anything else to come back to chat. There were still no transactions or transfers showing up on my accoun, they never told me that I was entitled to a provisional credit while they were investigating. The worst customer service I’ve ever gotten. I ended up having to call my bank where I had my taxes deposited into and talking with them about it, and that’s when I found out about the provisional credit. I ended up having to go through my bank, getting the credit, and having them investigate my cash app account, and because there were no transactions proving that I had spent the money, or sent it to anyone, or paid it out the bank found that financial institution where I had deposited my $800 they are responsible for returning my money back to me.After that, they wouldn’t leave me alone. They kept saying that I needed to send in my ID, a selfie, and another official document to verify my identity or I wouldn’t be able to use my account. They did that several times and it said right on my account that I was verified. Then eventually they said that I was doing things that cash app doesn’t condone, and closed my account indefinitely.
Cash app closed my account without ever giving me a reason as to why, I’m still in the process of getting an answer
I was charged $9.99 for something called total add block from my cash app card and I don’t know what that is. It says the payment is pending but when I use the app myself I always know what it is for.
I lost $130 with Cashapp and they didn’t investigate it and I emailed them back and told Cashapp Customer service that I was going to go on Facebook and tell my family and friends what Cashapp did to me!!!
Me and my husband Joshua got a letter from them in 2018 stating that they have fired a employee for screwing us out of 800 and something Dollars and leaking out whole account information out to God only knows where and that they are gonna be paying us back for the exact loss of money plus extra for leaking out information out this was 2018 and still nothing and in 2022 it happens again and the beginning of 2024 I just can’t believe people get away with playing with others lively hood it makes me sick to know we share a planet with people that have no souls they truly owe me and Joshua my husband about 3700 Dollars for real and if we don’t get it my uncle works for BBB and we take this case in a heartbeat and actually prays cash app screw’s up so he can
I filed a dispute with cash app over fraudulent charges, they didn’t refund me the money, in fact they closed that account so I can’t not only check for a refund, I can’t get one at all because I have no access. As far as I am concerned that is considered to be theft, if it was me doing the taking I assure you it would be considered theft and I would be prosecuted accordingly, but they get to continue doing bad business. If you believe that cash app is going to give you a dime from. This law suit I have ocean fro t property In Arizona that I will happily give you the title to for the amount your paid! They have ripped people off without and criteria, but they have a list of specific shit that you have to meet in order to get your peace of the pie, plenty of dead end roads with no person to contact or speak with to protect themselves from ever having to answer for stealing one penny. So I say FY CASH APP
Cash app took over $3,000 for my cash app card when at the time my grandparents had left me there some of their inheritance and which at which time 15,000 was deposited on to my cash app came up miscellaneous to God knows what and where but they every time I try to dispute it or get a hold of them they gave me a case number and never got a hold of me back never even answered any of the questions acted like it didn’t even exist to get a hold of customer service was an outrage