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Fraud Center News

Staying Safe with Cash Apps

Posted on March 10, 2020

Peer-to-peer payment apps like Venmo, Zelle and PayPal offer a convenient way to pay your friends electronically without carrying cash on hand. However, these programs do not offer protection for purchases or sales made when using the apps. It is important to take precaution before sending money through an app the same way you would when sending cash or mailing a check. 

  • Only send money to people you know. When making payments with peer-to-peer cash apps, you should only interact with people you know and trust. These apps are not meant for Craigslist or Facebook Marketplace purchases from people you have never met. Once you send money to a stranger, you won’t be able to get that money back.
  • Use a safe, trusted payment platform. Only use platforms from companies you know and trust. Before downloading a cash app from the app store, be sure to take a close look at the name of the app and make sure it matches the merchant name. Each peer-to-peer payment app is slightly different and knowing the differences can help you pick the best payment app for you.
  • Monitor your accounts. Watch your accounts closely and contact us right away if you notice anything unusual. If you’re an ACU of Texas member, download the ACU of Texas Mobile App so you are able to check your balance anytime, anywhere.

ACU of Texas members can always use the money transferring services we provide to ensure that their funds are as secure as possible. In Online Banking, you will find options to Transfer Funds, Pay Bills or Pay A Person, which allow you to securely transfer money from your ACU of Texas accounts.


When you link any of your accounts or services to a third-party app or payment service (including, but not limited, to PayPal, Zelle or Venmo) you understand and agree that these are not Credit Union services and any transactions you make will be subject to your agreements with the app or service provider. You understand that these apps and services do not provide the same protections from fraud or other misapplication of funds as traditional direct banking services. If we transfer any funds as directed by you or anyone you authorize to the app or third party service provider such transfer(s) shall, in all respects, be an authorized transaction and we will have no further obligation or liability if the app or provider then transfers the funds to a fraudster or the funds are otherwise misapplied. Further, you understand that funds transferred to/via a third-party app may not be federally or otherwise insured; and you assume all risks should your funds become unavailable for any reason.

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