Checking or savings account -- Closing an account -- Complaint #7160601
Complaint Overview
Complaint ID: 7160601
Company: Block, INC.
Product: Checking or savings account
Sub-Product: Checking account
Issue: Closing an account
Sub-Issue: Company closed your account
State: New York
ZIP Code: 117XX
Date Received: 2023-06-23T12:00:00-05:00
Date Sent to Company: 2023-06-23T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
This a major issue with CashApp. On XX/XX/XXXX, at XXXX XXXX, I received an email that CashApp balance was negative. At XXXX, I received an email that the portion of my payroll that goes to CashApp was returned as the deposit failed. When I logged into the account at XXXX, I saw that the account was closed as of XXXX XXXX due to violating their Terms of Service ( TOS ). I instantly went to the CashApp chat assistance and as of XXXX XXXX, still haven't heard from them. As soon as I arrived at work, I went to my HR department and together we called our payroll servicer. They said all processing went through as planned, and sure enough, the other portions of my pay check as allocated all went to the respective banks without issue, and as of XXXX XXXX, there was no notice of rejection of the pay to CashApp happening. I then called CashApp from my office and they require a call back, which just occurred, but what a waste of my time. The representative could tell me nothing. Claims that he can't see the deposit in the account being reversed ( I took screenshots in case they tried to say it never happened ), and could not tell me what part of the TOS was violated. I simply use this account for a portion of my payroll, to accrue some savings, bitcoin, and buy things, there is nothing nefarious going on in my account whatsoever. Rep told me the CashApp AI system makes all determinations and that's all he could say and wish me well. So, now I have multiple issues. 1. They closed the account without any notice and refuse to explain why the account was closed. 2. They took the small savings I've been accruing from purchases and transferred it against what is now a negative balance because I had already used part of the {$500.00} so when they reversed it, the account went negative and they applied the savings against this. 3. I can't get the {$35.00} in Bitcoin out because it won't let me transfer it to another wallet. I can only cash out which I don't want to do. 4. The reversal of my pay is in no man 's land now. CashApp claims it never happened nor was received, meanwhile my HR department and our payroll processor says the payment went through and there has been no rejection and return of funds. I need help getting answers. I don't care that this account was closed, I'll simply delete it from my direct deposit and walk away from it and continue with my traditional banks, XXXX and XXXX. But the theft of the small savings, not being able to move the BTC, and the missing pay, that all needs to be fixed. Please help.
Frequently Asked Questions
What is Complaint #7160601 about?
Complaint #7160601 was filed against Block, INC. regarding Checking or savings account specifically about Closing an account. It was received by the CFPB on 2023-06-23T12:00:00-05:00.
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 (Checking or savings account) 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.