CashApp users complain as system glitch wipes their account balances
페이지 정보
작성자 Everette 댓글 0건 조회 4회 작성일 24-10-04 05:25본문
Peer-to-peer payment firm CashApp is currently in the midst of an unspecified technical crisis - one that has seen several users' account balances erroneously wiped.
First surfacing Monday, the unknown issue involves users of the Silicon Valley company's Cash Card, who are reportedly being billed twice for an array of transactions.
In several statements since, CashApp conceded that 'issues' with the physical card were to blame for the mistaken charges, and promised to notify users who were double-charged and provide refunds.
As of Tuesday, the company - which boasts one of the most popular electronic payment methods on the planet - has not specified the nature of those 'aforementioned' issues, as users continue to complain online.
Laid bare by an assortment of screencaps from now-broke app users, the suspected glitch comes just weeks after a prominent American watchdog warned against keeping funds in money-sharing apps - due to an absence of federal protections.
Peer-to-peer payment firm CashApp is currently in the midst of an unspecified technical crisis - one that has seen several users' account balances erroneously wiped
First surfacing Monday, the unknown issue involves users of the Silicon Valley company's Cash Card - seen here in black - who after reportedly being billed twice for an array of purchases
Cash App - founded just a decade ago by ill-fated Bay Area millionaire Bob Lee - has since revealed in a post to its website it has resolved the issue, shortly after confirming it to be technical in nature earlier in the day.
'We recently discovered a technical issue that's led to some customers getting charged double the amount for certain Cash Card transactions,' the read.
'We've fixed the problem and will refund any amount that was incorrectly charged.'
As for a timetable, brass at the $138billion company said users should expect their mistook funds 'by the end of the day', but would not say what caused the issue.
Hours before, the firm assured fed-up app users who awoke Monday to their balances gone that they were 'actively investigating and working to fix the issue as soon as possible, and [will] share updates as soon as it's resolved.'
The words of affirmation did little to quell the unrest that's still being seen online, even after the problem is said to have been solved. It is not clear how many Cash Card users in total have been affected by the crisis.
'I need my $871 back @CashApp,' one affected cardholder wrote Monday around 8pm, sharing a screenshot of his account that showed a negative balance.
Another person shared an email that indicated she had been double-charged, writing Tuesday around 1:30am: 'Now I'm in the negative - thanks cash app.'
Others shared similar experiences of how their accounts had been overdrawn.
Laid bare by an assortment of screencaps from now-broke app users, the suspected glitch comes just weeks after a prominent American watchdog warned against keeping funds in money-sharing apps - due to an absence of federal protections
In several statements since, CashApp conceded that 'issues' with the physical card were to blame for the mistaken charges, and promised to notify users who were double-charged and provide refunds
'I ordered dominos on July 24th for $21.56 now they charging me over $49,' wrote one user late Monday. 'Now I'm overdrawn.'
Someone else sniped: 'Yea[sic] I just paid for my wife's birthday dinner it was $63 and some change and now they charged me $123 and wiped the last $50 out of my account.'
The user heartbreakingly added: 'And I needed it for my sons medicine.'
Moreover, people who made more hefty purchases were also not spared by the undisclosed mishap, with some out on more than $1,000 because of the confusion.
'I made a large payment of $450 over the weekend and was doubled in where i am -$400!!!!!' one big spender blustered. 'Called them and started a dispute. Already reported them to the [Better Business Bureau].'
Another said Tuesday around 5am: 'They overdrawn me 1024$ and I use this card to pay for my hotel I have to live at.
'So double screwed.'
A post late Tuesday morning did little to quell the unrest that's still being seen online, even after the problem is said to have been solved. It is not year clear how many Cash Card users have been affected by the crisis
Amid this array of complaints, CashApp's in-app and phone services were temporarily down Monday night, after apparently being overloaded.
The helplines were eventually restored Tuesday morning, after the firm said it had resolved the issue.
The update on the company's status page, aside from noting the app support was 'back up and running', thanked users for their patience in navigating any issues that arose over the past 48 hours, revealing that phone support was still unavailable.
'We appreciate your patience and will get back to you as soon as we can,' the company wrote.
Released in 2021, the Cash Card - the apparent X-factor in CashApp's recent money mishap - is an optional Visa debit card connected to users' CashApp account.
Similar to a regular card from your bank, it allows users to spend money at various retailers and even the ability to withdraw cash from an ATM.
Users can order the card through the app and have it mailed to their home address, free of charge.
Earlier this month, the Consumer Financial Protection Bureau - one of the country's foremost authorities on financial matters - warned against keeping money in apps such as CashApp and Venmo as such amenities become more commonplace.
Cash App revealed Tuesday that staffers had resolved the issue, after confirming it to be technical in nature earlier in the day
Released in 2021, the Cash Card - the apparent X-factor in CashApp's recent money mishap - is an optional Visa debit card connected to users' CashApp account. Users can order the card through the app and have it mailed to their home address, free of charge
Upon issuing the alert, CFPB director Rohit Chopra categorized keeping cash in non-protected reservoirs as 'a bad idea.'
'The applications lack the same protections to ensure that funds are safe,' Chopra explained of the application users' increased likelihood at losing out on their hard-earned money.
'As tech companies expand into banking and payments, the CFPB is sharpening its focus on those that sidestep the safeguards that local banks and credit unions have long adhered to.'
'We find that stored funds can be at risk of loss in the event of financial distress or failure of the entity operating the nonbank payment platform, and often are not placed in an account at a bank or credit union and lack individual deposit insurance coverage,' the CFPB said in its report.
'Consumers may not fully appreciate when, or under what conditions, they would be protected by deposit insurance,' the agency added in its report.
Peer-to-Peer payment apps and non-banks offering bank-like services have exploded in popularity in the last decade.
CFPB director Rohit Chopra recently said users of CashApp and other digital payment apps need to be careful with their money
Venmo now has more than 90 million customers and recently announced it was going to let parents to create accounts for their teenage children.
That could bring in tens of millions of new customers for the app.
Apple recently announced a savings account tied to its Apple Card that is operated by Goldman Sachs and comes with an attractive 4.15 percent interest rate.
The savings account took in billions of dollars in deposits within days of its launch.
The Financial Technology Association, an industry group that represents PayPal as well as Cash App's owner Block, emphasized in a statement that those products are safe.
'Tens of millions of American consumers and small businesses rely on payment apps to better spend, manage, and send their money,' the group said in a statement.
'These accounts are safe and transparent, with users receiving FDIC Insurance on their accounts depending on the products they use.'
First surfacing Monday, the unknown issue involves users of the Silicon Valley company's Cash Card, who are reportedly being billed twice for an array of transactions.
In several statements since, CashApp conceded that 'issues' with the physical card were to blame for the mistaken charges, and promised to notify users who were double-charged and provide refunds.
As of Tuesday, the company - which boasts one of the most popular electronic payment methods on the planet - has not specified the nature of those 'aforementioned' issues, as users continue to complain online.
Laid bare by an assortment of screencaps from now-broke app users, the suspected glitch comes just weeks after a prominent American watchdog warned against keeping funds in money-sharing apps - due to an absence of federal protections.
Peer-to-peer payment firm CashApp is currently in the midst of an unspecified technical crisis - one that has seen several users' account balances erroneously wiped
First surfacing Monday, the unknown issue involves users of the Silicon Valley company's Cash Card - seen here in black - who after reportedly being billed twice for an array of purchases
Cash App - founded just a decade ago by ill-fated Bay Area millionaire Bob Lee - has since revealed in a post to its website it has resolved the issue, shortly after confirming it to be technical in nature earlier in the day.
'We recently discovered a technical issue that's led to some customers getting charged double the amount for certain Cash Card transactions,' the read.
'We've fixed the problem and will refund any amount that was incorrectly charged.'
As for a timetable, brass at the $138billion company said users should expect their mistook funds 'by the end of the day', but would not say what caused the issue.
Hours before, the firm assured fed-up app users who awoke Monday to their balances gone that they were 'actively investigating and working to fix the issue as soon as possible, and [will] share updates as soon as it's resolved.'
The words of affirmation did little to quell the unrest that's still being seen online, even after the problem is said to have been solved. It is not clear how many Cash Card users in total have been affected by the crisis.
'I need my $871 back @CashApp,' one affected cardholder wrote Monday around 8pm, sharing a screenshot of his account that showed a negative balance.
Another person shared an email that indicated she had been double-charged, writing Tuesday around 1:30am: 'Now I'm in the negative - thanks cash app.'
Others shared similar experiences of how their accounts had been overdrawn.
Laid bare by an assortment of screencaps from now-broke app users, the suspected glitch comes just weeks after a prominent American watchdog warned against keeping funds in money-sharing apps - due to an absence of federal protections
In several statements since, CashApp conceded that 'issues' with the physical card were to blame for the mistaken charges, and promised to notify users who were double-charged and provide refunds
'I ordered dominos on July 24th for $21.56 now they charging me over $49,' wrote one user late Monday. 'Now I'm overdrawn.'
Someone else sniped: 'Yea[sic] I just paid for my wife's birthday dinner it was $63 and some change and now they charged me $123 and wiped the last $50 out of my account.'
The user heartbreakingly added: 'And I needed it for my sons medicine.'
Moreover, people who made more hefty purchases were also not spared by the undisclosed mishap, with some out on more than $1,000 because of the confusion.
'I made a large payment of $450 over the weekend and was doubled in where i am -$400!!!!!' one big spender blustered. 'Called them and started a dispute. Already reported them to the [Better Business Bureau].'
Another said Tuesday around 5am: 'They overdrawn me 1024$ and I use this card to pay for my hotel I have to live at.
'So double screwed.'
A post late Tuesday morning did little to quell the unrest that's still being seen online, even after the problem is said to have been solved. It is not year clear how many Cash Card users have been affected by the crisis
Amid this array of complaints, CashApp's in-app and phone services were temporarily down Monday night, after apparently being overloaded.
The helplines were eventually restored Tuesday morning, after the firm said it had resolved the issue.
The update on the company's status page, aside from noting the app support was 'back up and running', thanked users for their patience in navigating any issues that arose over the past 48 hours, revealing that phone support was still unavailable.
'We appreciate your patience and will get back to you as soon as we can,' the company wrote.
Released in 2021, the Cash Card - the apparent X-factor in CashApp's recent money mishap - is an optional Visa debit card connected to users' CashApp account.
Similar to a regular card from your bank, it allows users to spend money at various retailers and even the ability to withdraw cash from an ATM.
Users can order the card through the app and have it mailed to their home address, free of charge.
Earlier this month, the Consumer Financial Protection Bureau - one of the country's foremost authorities on financial matters - warned against keeping money in apps such as CashApp and Venmo as such amenities become more commonplace.
Cash App revealed Tuesday that staffers had resolved the issue, after confirming it to be technical in nature earlier in the day
Released in 2021, the Cash Card - the apparent X-factor in CashApp's recent money mishap - is an optional Visa debit card connected to users' CashApp account. Users can order the card through the app and have it mailed to their home address, free of charge
Upon issuing the alert, CFPB director Rohit Chopra categorized keeping cash in non-protected reservoirs as 'a bad idea.'
'The applications lack the same protections to ensure that funds are safe,' Chopra explained of the application users' increased likelihood at losing out on their hard-earned money.
'As tech companies expand into banking and payments, the CFPB is sharpening its focus on those that sidestep the safeguards that local banks and credit unions have long adhered to.'
'We find that stored funds can be at risk of loss in the event of financial distress or failure of the entity operating the nonbank payment platform, and often are not placed in an account at a bank or credit union and lack individual deposit insurance coverage,' the CFPB said in its report.
'Consumers may not fully appreciate when, or under what conditions, they would be protected by deposit insurance,' the agency added in its report.
Peer-to-Peer payment apps and non-banks offering bank-like services have exploded in popularity in the last decade.
CFPB director Rohit Chopra recently said users of CashApp and other digital payment apps need to be careful with their money
Venmo now has more than 90 million customers and recently announced it was going to let parents to create accounts for their teenage children.
That could bring in tens of millions of new customers for the app.
Apple recently announced a savings account tied to its Apple Card that is operated by Goldman Sachs and comes with an attractive 4.15 percent interest rate.
The savings account took in billions of dollars in deposits within days of its launch.
The Financial Technology Association, an industry group that represents PayPal as well as Cash App's owner Block, emphasized in a statement that those products are safe.
'Tens of millions of American consumers and small businesses rely on payment apps to better spend, manage, and send their money,' the group said in a statement.
'These accounts are safe and transparent, with users receiving FDIC Insurance on their accounts depending on the products they use.'
댓글목록
등록된 댓글이 없습니다.