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Forum
-> Household Management
-> Finances
amother
OP
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Sun, Aug 09 2020, 7:20 am
Can someone please explain to me how cashapp works? Do you have to put money in to pay for things? Does the money automatically go to your bank account?
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nchr
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Sun, Aug 09 2020, 8:06 am
I have only used it to pay others. The money is deducted straight from my bank account and AFAIU it is placed into the other users account.
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amother
OP
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Mon, Aug 10 2020, 9:57 am
Does anyone know about receiving money? I have an amount on the app and it says cash out. What will that do? Where is the money now? There are no instructions on the app that I noticed.
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groovy1224
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Mon, Aug 10 2020, 10:07 am
amother [ OP ] wrote: | Does anyone know about receiving money? I have an amount on the app and it says cash out. What will that do? Where is the money now? There are no instructions on the app that I noticed. |
Cashing out means having the fund transfered to your checking account. Right now the money is just sitting in your cash app account.
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amother
OP
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Mon, Aug 10 2020, 10:18 am
groovy1224 wrote: | Cashing out means having the fund transfered to your checking account. Right now the money is just sitting in your cash app account. |
Thank you. That’s what I thought, but I don’t like pressing buttons when I’m not sure. Does anything happen if I let it sit in the app? Is there a time limit?
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groovy1224
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Mon, Aug 10 2020, 10:22 am
amother [ OP ] wrote: | Thank you. That’s what I thought, but I don’t like pressing buttons when I’m not sure. Does anything happen if I let it sit in the app? Is there a time limit? |
No, I'm not aware of there being a time limit. I'm not sure why someone would choose to let it sit as opposed to transferring, but then again I'm not a huge cash app/venmo user in general. I think the app can be used to pay for things at stores, so maybe that's why.
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amother
OP
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Mon, Aug 10 2020, 10:30 am
groovy1224 wrote: | No, I'm not aware of there being a time limit. I'm not sure why someone would choose to let it sit as opposed to transferring, but then again I'm not a huge cash app/venmo user in general. I think the app can be used to pay for things at stores, so maybe that's why. |
Thank you! I don’t know why I would leave it there, but asking anyway. Going to cash out now .
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Radish
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Mon, Aug 10 2020, 12:44 pm
Just beware of scammers if you're using the cash app. Many people lost money there
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amother
OP
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Tue, Aug 11 2020, 9:48 am
Radish wrote: | Just beware of scammers if you're using the cash app. Many people lost money there |
What do you mean? How?
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Thisisnotmyreal
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Tue, Aug 11 2020, 10:34 am
amother [ OP ] wrote: | What do you mean? How? |
People have borrowed someones phone and casually sent themselves money. Or they had sent themselves more than what was agreed while in control of the phone.
You should secure a pin on the app that needs to be put in before making a transfer.
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amother
OP
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Tue, Aug 11 2020, 10:48 am
Thisisnotmyreal wrote: | People have borrowed someones phone and casually sent themselves money. Or they had sent themselves more than what was agreed while in control of the phone.
You should secure a pin on the app that needs to be put in before making a transfer. |
Okay, thanks. I’m actually having trouble cashing out because the number the bank has for me is an old one. I have to call the bank up to change it. I hope they won’t give me any trouble.
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