What is the process for Cash App to put a hold on money used for purchasing digital currencies?

3 answers

• Dave SadlerMay 19, 2024 · a year ago
  When you use Cash App to purchase digital currencies, the app may put a temporary hold on the funds to ensure the transaction is secure. The hold period can vary and is determined by Cash App based on various factors, such as the amount of the transaction and your account history. During the hold period, the funds will be unavailable for other transactions, but they will eventually be released once the transaction is confirmed and deemed secure. It's important to note that the hold is a security measure to protect both you and Cash App from fraudulent activities.
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• Kenny SellersOct 24, 2020 · 5 years ago
  Cash App puts a hold on the funds used for purchasing digital currencies to prevent unauthorized transactions and ensure the safety of your account. The hold period can range from a few minutes to a few hours, depending on the specific circumstances. During this time, the funds will be temporarily unavailable for other purposes. Once the transaction is verified and confirmed, the hold will be lifted, and the funds will be available for use again. This process helps to protect your account and prevent any potential fraudulent activities.
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• CHARLES AGYEMANGJul 26, 2020 · 5 years ago
  When you make a purchase of digital currencies using Cash App, the app may place a temporary hold on the funds to ensure the security of the transaction. The length of the hold period can vary and is determined by Cash App based on factors such as the amount of the transaction and your account history. During the hold period, the funds will be temporarily unavailable for other transactions. However, once the transaction is confirmed and deemed secure, the hold will be released, and the funds will be available for use again. This hold is a security measure implemented by Cash App to protect both the user and the platform from potential fraudulent activities.
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