My complaint:
Cash app has no limits on how much money that can be accumulated in your cash app account, but has a $25,000 limit on what you can take out each week.
There is no bank or bank-like institution that does that. Not realizing the $25,000 per week take out limit, my cash app account accumulated over $100,000. On the way to accumulating that amount, I tried to transfer the funds out of my cash app account to my bank account. Because there was a limit, the account continued to accumulate faster than I could pull the money out.
When I contacted cash app about this, no one at customer support seems to understand that I need to have a mechanism to get the money out of my account. It’s my money, not theirs. Each time as if not understanding what I need done, they reply to my request with standard boiler plate answers on what the mechanism are to cash out.
I have offered to close my account so that they can send me my money, but the response is still be boiler plate answers on how to take money out of the account (which I cannot do)
Suggested solution:
Cash app should give me a mechanism to either allow me to get my cash out based on a transaction limit instead of a Weekly limit. As long as I cannot get the money out of the account, it, in effect, is Cash Apps money, which it is not.
If they cannot do that, they should allow me to close the account BUT insure that I am able to get the money out of the account.
Cash App should not be allowed to keep my money. If they changed to policy to $25,000 per week input to the account, that is the only way $25,000 output per week would make sense. But they probably don't want to do that because they are using the funds probably of hundreds or thousands of users. Which should be against the law.
