Cash App has gained immense popularity over recent years. And for thos using Cash App, they will also find new things that have been brought up in the Cash App platform.
All of these have been brought up to make things easier for Cash App users. However, as we all know how online transactions are, we have to always make sure that everything is legit, and its no different for Cash App.
Receiving money from strangers can be an arising concern among Cash App users. But you should know that Cash App is generally safe to receive money from other users. However, to be sure, should you receive it from a stranger? Check out below.
Should I Accept Money from a Stranger on Cash App?
Understanding Cash App Safety
Cash App is a very popular peer to peer online platform, but when we have to talk about strangers, there are a lot of questions that people usually ask themselves. And here are some reasons below why you should not accept money from strangers on Cash App.
1. Overpay Scam
There is a Cash App scam where a stranger can send you money and claim the money was sent in excess. That is, they will create automated messages which will signal you that they sent for example $100, but they might have sent only $5 to your account, and they will ask that you send the remaining funds.
And once you send them back the remaining funds, you will realize that the funds have been deducted directly from your initial balance and you will be short of some money that was in your account.
Solution:
Once you see such a message, we will always advice you not ti consider it and ignore it. However, if you consider sending back the funds, first of all contact the Cash App team and follow the process along with them
2. No Money Sent Scam
At times they just claim they sent the money to you whereas it was a message they programmed and sent it to your email or to you for you to see it.
This happens when you for example want to sell one of your goods or a service you are offering. And someone comes to purchase it and then they just claim the money has been sent and expect that you send them the good.
Solution:
Always check your balance after you have received some money. But how do you check your balance? Do not click on any link provided in the sender's message because that could be another form of scam for them to know your login credentials.
And so, if you receive such a message, if possible, switch off your mobile phone first and switch it back on. And after it comes on, you go and check your balance to be sure that the funds were really cashed in. Or, you can check your balance on another device. If you have your account installed on another device, you can check it there and confirm first before taking any step ahead.
3. The stranger could claim no item received
Well, if you are selling goods online, the stranger could still actually send you the money to your account. But after you have already sent the goods you are selling, they receive them and then claim they did not receive it. And after that, they will deposit for a refund, and you will be the loser on both ends.
Solution
The first thing we will say is that Cash App does not really have good security for you in this case. And if you are selling goods online, do not accept payments via Cash App for better security. You can check other alternatives with better seller protection.
Tips to Stay Safe on Cash App
Yes, it is quite true that Cash App might not be the best when it comes to security issues, but there are tips to remain safe on Cash App. They are.
1. Strong and Unique Password
You should make sure that when creating your account, put in a very strong and unique password that only you alone can remember it.
For your password to be long and unique, it should be at least 8 characters and should involve capital letters, small letters, symbols, and numbers in it.
And make sure you don't forget your password too after you have put it in because many people are good at forgetting passwords.
2. Enable verifications on your App
Verifications are also important for your account. This is so that anybody that tries to peep into your account will have to verify either by PIN, Face ID, or Touch ID.
And so, you should also put a PIN, or Face ID, or fingerprint so that any time you enter your account, you must verify with it before having access to your account.
3. Only Send and Receive Money with people you know
There are a lot of scams on Cash App. And trusting a stranger is one of the last things to consider on Cash App.
Never send money if you are not sure who you are sending it to, and do not also accept money from a stranger because of the reasons we have provided above too.
4. Turn on your Cash App notifications
Another clever way of making sure that you've actually received a payment. Let someone not just automate an email and send it to you that you have received money and you believe.
After you enable notifications, you will be alerted whenever a transaction is completed in your account, whether receiving or sending money.
Closing Remarks on Cash App Receiving money from Strangers
The Cash App is an amazing platform and is even considered among the best money transfer apps in the world right now. However, there are some security issues they need to consider and fix very well.
And receiving money from strangers is one of them. And it is quite true that many people have received money from strangers and have had no issues, but before you engage in such a journey, you should consider increasing some security in your account.
But the best thing to consider is to just avoid any form of transaction, whether sending or receiving money, when involved with a stranger.