If you need to transfer money to friends and family, Cash App makes it pretty easy: Like other payment platforms, sending and receiving money with Cash App is quick and convenient, as it either goes straight to your bank account, or your Cash Card.
However, if you don’t use Cash App that often, plan on switching to another peer-to-peer payment app like Venmo or Zelle, or have concerns over the security of the platform, you might consider deleting your Cash App account. It’s easy to do, and you can delete it at any time, but just make sure you’re doing so for the right reasons.
Is Cash App safe?
To answer that question is two-fold: First, the company that makes the app, Block Inc., uses encryption and fraud detection on their platform. This means that even if you use the app on public wifi, your sensitive data will be protected. Plus, in the event your data is compromised, Cash App’s systems should catch it, and alert you to any fraud that occurs.
On the flip side, Block Inc. recently disclosed to the Security and Exchange Commission (SEC) last year that they suffered a security breach. Some of the info that was taken in the breach included full names, brokerage account numbers, brokerage portfolio values and holdings, and one day of stock trading activity. The breach affected 8.2 million current and former users of Cash App. Thankfully, info such as usernames, passwords, dates of birth, Social Security numbers, addresses, and bank accounts weren’t compromised.
While that doesn’t rule out the possibility of another security breach for Cash App in the future, at this point, Cash App seems just about as safe to use as any other similar platform. If you don’t feel comfortable using the app anymore, you can cash out and delete your account at any time. That said, you shouldn’t necessarily switch over to something like Venmo solely for security reasons.
You don’t need to delete Cash App to use other platforms
If you know you aren’t going to use Cash App going forward, perhaps because your friends all use another platform like Zelle or Venmo, by all means, delete your account. However, you don’t have to, even if you aren’t going to use it. It might actually be more inconvenient to delete your account if you have any contacts that use it: Maybe once in a while, you will need to pay someone back, or they’ll need to send you money, and they only use Cash App. Having your account on hand could prove useful.
In this case, you could always cash out your Cash App account to your bank, so there aren’t any funds sitting unused. It’s up to you, either way.
How to cash out your Cash App account
The first step to closing your Cash App account is making sure to transfer any money to your bank account. To do so, open Cash App, then tap on the Banking tab.
Here, you’ll see a button that says Cash Out. Any money currently in your Cash App account will be transferred to your linked bank account. If you have any stocks or Bitcoin, you’ll need to sell those before closing your account.
How to close your Cash App account
After you’ve cashed out your money, you can close your account. To do so, go to the Pay tab (the one that looks like a $) and tap the account icon in the top right. Here, tap on Support, then select Something Else. Next, scroll down to Account Settings, then choose the option that says Close my Cash App account.
You’ll see a warning saying that closing your Cash App account will also disable your $Cashtag. To continue, tap on Confirm. Your Cash App account should now be closed, and you can remove the app from your phone.
