While many people act in good faith, there are plenty of con artists and scammers out there, too. According to the U.S. Federal Reserve, there were 2.8 million fraud reports across the country in 2021, with losses growing 70% year-over-year to $5.8 billion.
As scammers continue to look for new ways to get their hands on consumers’ hard-earned money, financial institutions are fighting back, providing ways for their customers to recoup that money. Filing a dispute with their credit card companies is one way consumers can get their money returned. But what about Cash App? Can Cash App users who are scammed get a refund? Read on to find out how to get money back on Cash App if you are scammed and tips for avoiding Cash App scams.
No, you cannot always get a refund for a fraudulent Cash App transaction. The Cash App team will investigate every disputed transaction, some resulting in a refund and others being denied. Unfortunately, some Cash App users who get scammed do not receive a refund. However, you may have the following options for getting your money back.
If you’ve fallen victim to a scammer on Cash App, here are options you have for reporting the fraud and attempting to get a refund of the fraudulent charges:
Cash App transactions generally happen instantly and users typically can’t cancel them, but they do have the option to do so before a transaction is completed in rare cases. If you believe a pending transaction is fraudulent and want to try to cancel it:
If a transaction cannot be canceled, requesting a refund is the next course of action Cash App members have to get their money back. To do so:
Cash App will send the refund request to the merchant once the process is complete. Unfortunately, fraudsters aren’t likely to be willing just to hand their stolen money back to their victims, and you may have to escalate the issue by disputing the transaction.
Disputing a transaction is a way to coerce a merchant to return the money you paid if they can’t prove they’ve provided the product or expected service.
Users should only file disputes after they have attempted to contact the merchant, requested a refund through Cash App and failed to get a resolution. If that’s the case, follow the steps below to report the scam and dispute the transaction:
Once you’ve filed the dispute, the Cash App team will investigate the claim.
If you’ve tried all of the previous options to get a refund on a fraudulent transaction, you can report the issue to Cash App.
Sometimes a Cash App scam is associated with a potential scam account rather than a specific payment. You can report and block possible scam accounts as follows:
Any time you are a victim of fraud that involves your bank account or debit card, you should contact your bank. A bank representative can advise you on any action you should take to protect your account from further fraud and determine if you can file a dispute for the fraudulent transaction with the bank.
Not all Cash App fraud is limited to purchases and transactions. If a scammer has accessed your Cash App account, they may also have accessed your financial information. It can be a good idea to contact the major credit bureaus to freeze your credit. This will prevent a scammer from opening fraudulent accounts using your credit.
The Federal Trade Commission or the IC3 are two common ways to report fraud to the government. Both agencies will require information to identify the victim, the con artist and details of the fraudulent transaction.
What’s more beneficial than knowing how to get money back on Cash App if scammed is knowing how to avoid scams.
There are several things users can do to avoid Cash App scams. To stay safe from scammers, you should:
Cash App includes optional security features like fingerprint scans, face identification and notifications. Users should take advantage of these features to reduce their chances of becoming fraud victims.
It's common for fraud victims to have questions about the activity itself and how they can get their money back. Here are answers to some of the most commonly asked questions.