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October 21, 2024

Why you shouldn't store your money in payment apps

  • Funds stored on Venmo or Cash App typically lack the deposit insurance you'd get from a bank.
    • By CORA LEWIS
    Associated Press

    iStock image
    As use of payment apps has grown in recent years, the Consumer Finance Protection Bureau has issued guidance on best practices to avoid pitfalls.

    NEW YORK — Connor Tomasko grew up wary of credit cards. As she taught herself more about managing money, she realized that many people also have bad habits when it comes to payment apps.


     
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