Key Takeaways:
- Scammers use a variety of scams to trick victims into sending money via Cash App. Some common scams include: Bitcoin scams, money flipping scams, accidental payment scams, romance scams, giveaway scams, Facebook marketplace scams, and rental scams.
- Never send money (including “investments”) to people you don’t know.
- Cash App is safe to use, so long as you use strong security practices such as two-factor authentication and complex passwords.
- It’s difficult to get your money back on Cash App (but not impossible if you file a dispute and contact support).
Peer-to-peer (P2P) payment apps like Cash App have made sending and receiving money between friends as easy as can be. So long as you have the app on your phone and your bank account linked, you can quickly and conveniently send over that $20 you owe for dinner the other night.
For most people, using Cash App is like having cash without the hassle of physical bills (and change). At least, that’s how it started out. With its surge in popularity, Cash App has also picked up a not-so-little problem: scammers.
Fortunately, scammers are only an issue if you don’t know what to look out for. So, today, we’ll be covering the most common Cash App scams and how you can keep yourself safe!
7 Cash App Scams to Watch Out For
Sending money on Cash App is easy, getting back if you fall for a scam — not so easy. Watch out for these 7 common Cash App-related scams:
1. Cash App Bitcoin Scams
The recent boom of Bitcoin (and cryptocurrency in general) has made headlines for creating overnight millionaires. What isn’t as talked about, however, is the fact that it has also created countless new scams.
How it works: You’ll run into quite a few crypto scam variations constructed around Cash App, but there are two general forms you’re most likely to encounter:
- Crypto investment scams where someone reaches out to you with a whole pitch about how you can make CRAZY returns on small crypto investments. After giving you their whole pitch, they’ll ask you to send some money with the promise that you’ll quickly get far more in return. Of course, once you send the money, they vanish into the wind.
- Someone (typically an acquaintance via social media) will send you money via Cash App and explain that all you need to do is invest it in crypto and pay them back a small percentage of your profits. They’ll include a phishing link to the supposed crypto investing site, which is actually a fake website run by the scammers.
You’ll be instructed to set up an account and deposit the money, and within hours or days, you’ll see a portfolio that looks like you’ve already made huge gains. The original scammer will then have you send them X% (usually equaling a couple of hundred dollars or more). The problem is that the numbers are all fake, and you won’t be able to pull out any of the money that you see on the website (because it doesn’t exist). And, to add on to the lost money you sent the scammers, that initial money that was sent to you will typically get flagged as fraudulent and be returned. Double whammy.
Something to remember is that if it’s too good to be true, it’s a scam. This is particularly important to keep in mind with the second version of the crypto Cash App scams. It can be tempting to fall for this because of the “free” initial cash. But know that if the investment opportunity were real, they wouldn’t need to send you money first in order to invest and get all of the returns themselves.
2. Money Flipping Scams
Crypto may be all the rage, but cash is still king. Much like the crypto scams, these schemes start out with scammers posing as financial experts who make your acquaintance on a social media platform.
How it works: These scams will often run a bit like a self-contained Ponzi scheme. They will ask you for a small amount of money, and then send you back the same amount plus the quick “profits” they supposedly made with it. Once they have your trust, they’ll say they can do even more with a bigger investment. Once you send them the larger sum, they’ll disappear forever.
3. Cash App Accidental Payment Scams
If you’re sending money to someone on Cash App for the first time, it’s only natural to feel a bit anxious that you’ve sent money to the person you intended to. So long as you confirm with the person and double-check, you should be fine, but accidental wrong payments do happen. Unfortunately, scammers have started to use that premise as a very much on-purpose trick to steal money.
How it works: For this one, scammers will send you money and then message you to explain it was an accident and ask if you’ll send the money back. Once you do, you’ll find the initial transfer has been reversed — due to credit card fraud or insufficient funds — meaning you’re actually out whatever amount you sent them.
4. Romance Scams
Love is a beautiful thing…unless you’ve been unknowingly catfished or tricked into a romance scam. Good news, tools like Spokeo People Search can help you verify who you’re talking to (hopefully before you’ve sent any money).
How it works: Love is a strong emotion, which makes it the perfect long con for scammers willing to put in work. Romance scams work by scammers creating fully online relationships that trick victims into thinking they’re in love (or something close to it, at least). Once they have a victim on the hook, they’ll often ask for money via Cash App, usually with a backstory like they need it for rent, a sick relative, or the ultimate promise — to buy a ticket to finally come see you in person. All those excuses are fake, and once you catch on, you’ll be left with a hurting bank account and a broken heart.
5. Cash App Giveaway Scams
These days, it’s not all that unusual for influencers and even Cash App itself to host money giveaways. That doesn’t mean that you should start celebrating if you get a message about winning a giveaway, especially if you never entered in the first place.
How it works: Scammers will contact you claiming you’ve won an official Cash App giveaway, an influencer giveaway, or really any made-up giveaway. They’ll then try to get you to either send some money as a “verification method” or ask you for sensitive private information they can use to steal your account or even your identity. In this case, there’s obviously no actual giveaway, other than whatever you just accidentally gave away to the scammers.
Note that if you never entered a giveaway, you can immediately write off any claims that you’ve won as a scam. If, by chance, you did enter a giveaway (scammers will actually target people who have entered publicly visible giveaways), always verify who you’re talking to, and never ever send them money or other sensitive information that could result in you being compromised.
6. Cash App Scams on Facebook
Buying second-hand items is easier than ever, thanks to online marketplaces like Facebook Marketplace. Since carrying physical cash is increasingly becoming a novelty, many of these transactions are done via P2P payment apps like Cash App. Generally, it’s super convenient and a solid way to buy, but there are some situations you should look out for when it comes to sales that request payment through Cash App.
How it works: Scammers will post listings online for a variety of goods or even pets. The way they get your money is usually one of the following tricks:
- They list items and claim they can ship anywhere. They’ll ask for your information and say they’ll send the package as soon as you send them the money on Cash App…except they won’t actually send you anything after taking your money.
- Pet scams are a popular way scammers use Cash App to steal money. They’ll list puppies or kittens, and tell you that you need to put a deposit down before you can come pick up the animal. You’ll send the deposit, but you’ll never hear back after that.
- Similar to the pet scam, the seller will tell you that their item has a ton of interest, but they’ll hold it for you if you pay a deposit or part of the asking price. Again, they’ll take the money and vanish.
7. Apartment Rental Scams
As if finding housing wasn’t enough of a pain, scammers often use Cash App when executing rental scams.
How it works: You’re apartment hunting and come by the perfect place at a price that feels like the ultimate find. You reach out, exchange info, and quickly send over your deposit via Cash App. Unfortunately, the listing is fake, the photos most likely stolen, and your deposit is gone.
Frequently Asked Questions (and How to Keep Yourself Safe)
Can I get my money back on Cash App?
Typically, you can’t get your money back. According to Cash App’s own support, “Cash App can’t cancel or refund a payment after it has been completed.” That applies whether you sent money to the wrong account or were scammed into sending money. In some instances, contacting Cash App support can help, but it’s not a guarantee.
Is Cash App safe?
Cash App itself is totally safe to use, so long as you take proper precautions. That means having tight security practices and knowing how to spot scams before you end up sending money you can’t get back.
How do I stay safe on Cash App?
There are a few things you can and should do to protect yourself, including:
- Link your Cash App account to a credit card, rather than a bank account or debit card.
- Use all of the security features available, such as two-factor authentication (2FA).
- Don’t send money to people you don’t know.
- If purchasing an item or pet, ensure you have the item in hand before sending payment on Cash App.
What should I do if I get scammed?
If you get scammed on Cash App, you don’t have a ton of options, but you might try the following:
- Contact Cash App support. If you get lucky, you might be able to get your money back. If not, it’s still good to report the scammer’s account. You can contact them directly through the app, call support at 1-800-969-1940, or reach out to them on their verified social media pages.
- File a dispute with Cash App. Experience shows that it isn’t very easy to get money back that you sent on Cash App. That doesn’t mean it’s impossible, though. If you get scammed, you can file a dispute directly through the Cash App app.
- File a dispute with your bank. If you’re struggling to get anywhere through Cash App support directly, contact your bank to see if a chargeback is possible.
Keep Your Cash (and Identity!) Safe
Exercising a healthy degree of skepticism about the people, deals, and promises you come across online will go a long way towards protecting yourself from getting scammed on Cash App. What we said at the top of this article bears repeating: If something seems too good to be true, it usually is!
If someone asks for money out of the blue (or sends you money out of the blue), reach out to them through another channel to verify that it’s really your contact. If in doubt, use Spokeo’s people search tools to check that the phone number matches the name you’ve been given.
Cyrus Grant is a writer from Southern California with a background in law and dispute resolution. When he isn’t writing, he can be found deep-diving into the latest technology trends or simply spending time at the beach.