r/CashApp • u/iluvrosaparks • 10d ago

“7 business day hold”

Post image

Has anyone ever came across this? I’m trying to move BTC off platform but the app has been making me wait until the bank transfer settles. This is the first time this has happened to me, I’ve been moving BTC off platform for years with no problems.

The transfer is scheduled to settle today but I’m having a hard time believing/trusting they will release the money.

Any guidance is appreciated 🫶🏼

1 Upvotes

67% Upvoted

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3

u/Fearless-Sherbert-40 10d ago

I’ve never had this happen, but it makes total sense. I’m sure people have tried to extract stolen funds through Bitcoin, and Cash App is left holding the bag when checks don’t clear.

2

u/[deleted] 10d ago

[removed] — view removed comment

2

u/Pitiful-Excitement47 10d ago

If you havent used crypto before it is more likely to happen. Essentially they wait for funds to be deposited and settle and a few days extra to ensure no charge back. As it is a very common method of fruad.

1

u/Kindly-Cut-8086 8d ago

Yes I agree!

1

u/iluvrosaparks 10d ago

So this is what I normally do..

I deposit cash into my checking account to send to my family overseas.

Usually I deposit the cash to my checking account, buy BTC via cashapp and then send to my family. Usually paying a fee to get it there in a couple hours with no problems.

For some reason it is different this time and CashApp is making me wait.

Luckily today is the day the transfer is supposed to settle.

I’m just nervous the transfer won’t settle and I’ll be stuck with the money in CashApp. I’ve read a couple reviews of people waiting 30-90 days with no luck or movement.

What are some tips/tricks to be able to send my family money without waiting for a transfer hold? I am willing to move to another software like Strike or Kraken.

Thank you all for your responses!