Why is Cash App asking me to pay a clearance fee?

Cash App Clearance Fee Scams: A Cautionary Tale

Cash App, a popular mobile payment service, has become a target for scammers attempting to defraud unsuspecting users. One common tactic is the “clearance fee” scam.

What is the Clearance Fee Scam?

In this scam, fraudsters reach out to Cash App users via email, text message, or even social media. They claim that a transaction on the user’s Cash App account is on hold and requires payment of a “clearance fee” to be processed. The scammers may provide a link to a fake Cash App website or a request to send the fee directly to them.

Why Cash App Never Asks for Clearance Fees

It’s crucial to remember that genuine Cash App transactions never require users to pay any fees. All fees associated with Cash App transactions are automatically deducted when the transaction is initiated. Therefore, any request for a clearance fee is a clear indication of a scam.

How to Protect Yourself from Clearance Fee Scams

• Never click on links or open attachments in suspicious emails or text messages. These could lead to malware or phishing websites.
• Be wary of unsolicited phone calls or social media messages. Genuine Cash App employees will not contact you out of the blue to request payments.
• Check the sender’s email address or phone number carefully. Scammers often use fake or spoofed contact information.
• If you receive a request for a clearance fee, report it to Cash App immediately. You can do this through the Cash App website or mobile app.

Consequences of Falling for the Scam

If you fall victim to a clearance fee scam, you may lose the money you send to the fraudsters. Additionally, your personal information may be compromised, which could increase the risk of identity theft or other financial crimes.

Stay Vigilant and Report Suspicious Activity

By understanding the clearance fee scam and taking precautions, you can protect yourself from becoming a victim. If you encounter any suspicious activity on your Cash App account, report it to Cash App immediately to ensure the safety of your funds and personal information.