Money transfer, virtual currency, or money service -- Managing, opening, or closing your mobile wallet account -- Complaint #6241590
Complaint Overview
Complaint ID: 6241590
Company: Block, INC.
Product: Money transfer, virtual currency, or money service
Sub-Product: Mobile or digital wallet
Issue: Managing, opening, or closing your mobile wallet account
State: Oklahoma
ZIP Code: 74105
Date Received: 2022-11-24T12:00:00-05:00
Date Sent to Company: 2022-11-24T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
My concern is with BLOCK, the company responsible for CASH APP. I have determined that my personal financial data is being held hostage by their software. I should be able to connect cash app with XXXXXXXX XXXX XXXX XXXX XXXX XXXX, or other XXXX XXXX software. I am certain that if I started a class action lawsuit, other organizations such as XXXX, XXXX, and various banks with financial management software would join. It should not have to come to that. As far as I know, there is no other organization that traps consumer financial data in this way. Yes, it is possible to go to the Cash app website, download a data file and then hopefully upload it into some other software, but the process should not be unduly difficult in this way. There is on mandated standard data format for personal transactions. Thousands of banks participate in the PLAID data verification system, but CASH APP is notoriously absent. If BLOCK is going to be allowed to function like a bank, they should be expected to give people easy access to their personal transaction data like other similar organizations. These are the types of issues that the CFPB should be involved in.
Frequently Asked Questions
What is Complaint #6241590 about?
Complaint #6241590 was filed against Block, INC. regarding Money transfer, virtual currency, or money service specifically about Managing, opening, or closing your mobile wallet account. It was received by the CFPB on 2022-11-24T12:00:00-05:00.
How did Block, INC. respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Money transfer, virtual currency, or money service) and describe your issue in detail.
Can I see other complaints against Block, INC.?
Yes, visit the Block, INC. company profile at readthecomplaint.com/company/block-inc to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.