Money stored in Venmo and other payment apps could be vulnerable, financial watchdog warns

Why The Government Is Telling You To Stop Storing Cash In Venmo

Digital payment apps including Cash App, Venmo, and Apple Pay come with a special set of risks.

Don’t store cash in Venmo and PayPal, US regulator warns

By Chris Isidore, CNN New York (CNN) — Payment apps like PayPal and Venmo might be convenient, but they’re not banks — and a federal financial services watchdog is worried that too many consumers are treating them as such. Some consumers are using services like PayPal, Venmo, Cash App and Apple Pay for direct deposit of paychecks, or simply storing lots of cash in them. But the Consumer Financial Protection Bureau wants people to know they don’t…

Money in Your Venmo and PayPal Apps May Be at Risk, CFPB Says

You shouldn't use apps like Cash App, PayPal and Venmo as substitutes for a traditional bank account, the Consumer Financial Protection Bureau advises.

Don’t store cash in Venmo and PayPal, US regulator warns

New York (CNN) — Payment apps like PayPal and Venmo might be convenient, but they’re not banks — and a federal financial services watchdog is worried that too many consumers are treating them as such. Some consumers are using services like PayPal, Venmo, Cash App and Apple Pay for direct deposit of paychecks, or simply storing lots of cash in them. But the Consumer Financial Protection Bureau wants people to know they don’t have the same protect…

Money in digital payment apps such as Venmo, PayPal, may not be insured, watchdog warns

(The Center Square) – A federal agency is warning consumers that digital payment apps such as PayPal, Venmo, and Cash App lack federal insurance protections.

Don't store cash in Venmo and PayPal, US regulator warns

Payment apps like PayPal and Venmo might be convenient, but they’re not banks — and a federal financial services watchdog is worried that too many consumers are treating them as such.