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It’s important to practice extreme caution and vigilance when you are downloading and using any app that connects to your bank account and that you trust to help you budget and figure out your finances. In recently years, so many money apps have cropped up that it can be difficult to tell which you can rely on — and which are actually scams in disguise.
Luckily, bad news travels fast when it comes to bad finance apps. And this is the one money app you should delete from your phone right now, according to security experts.
Cash App
One of the best ways to find out if an app is worth your time, money, and phone security is by checking its rating via a third-party security source. And, according to Trust Pilot, Cash App is one app that you need to delete pronto.
The purpose of Cash App is to “instantly send money between friends or accept card payments for your business.” From there, you can even “cash out to your bank instantly.” Sounds convenient. But, with an overall one-star rating and 92 percent of more than 1,300 reviewers rating it “bad” on a scale of Bad, Poor, Average, Great, and Excellent, Cash App doesn’t check out as a reliable, trustworthy app.
Reviews can tell give you a better idea of what’s happening with an app.
According to one reviewer: “I wish I could give this app 0 stars or even a negative star. The customer service is terrible and I lost money through it. When I contacted the company to refund my money after a transaction gone wrong (which was very hard to find someone to contact and it took a few days for them to get back to me), they said that "Cash App is unable to cancel or refund Cash transactions after the funds have been transferred to the recipient’s bank." I find it ridiculous that they can't help you at all with transactions that go badly. Please never use this app and do not trust someone else who tells you to pay them through it.”
Another reviewer writes: “My relatives sent me 85 dollars through cash app on Saturday morning. It was supposed to be instantly, the transaction has came out of her bank account but was NEVER deposited in mine. I have called my bank and they have confirmed nothing was received. Of course you can’t contact cash app by phone so you have to email. Explained the entire situation and “Irene” emails me a generic message with no solution. I have been emailing them none stop since Saturday 1/25 and no response back since then. I’m so HOT because I need my money NOW!! My bank is even requesting that cash app calls them but of course they won’t!!!”
Whether you have downloaded and used Cash App or are considering another money app to make transactions or help you budget your finances, it’s important to do your homework and search for reviews and ratings for money apps. Always create a complex password and read the fine print so you can find out exactly what protections an app promises you should your money “disappear” during a transaction.
