Consumer complaint received 2020-04-20
Company: Square Inc
State: NY
Product: Money transfer, virtual currency, or money service
Sub-product: Mobile or digital wallet
Issue: Managing, opening, or closing your mobile wallet account

Complaint:
Several years ago I signed up for a Cash App account, and subsequently used it to transfer US currency to others as well as purchase Bitcoin through their trade service. I purchased roughly {$450.00} worth of bitcoin several years ago, when bitcoin 's trade value was less than half of what it is now. ( ~ {$3500.00} ) Currently, bitcoin is trading for roughly {$7000.00}. 

A few months back I changed phone numbers. I contacted Cash App, which I registered an account with using my prior phone number, asking them to update my information to match the new number as the old line was closed and could not receive a verification code. They informed me that they can only merge the account with a new one, and only after my identity is confirmed. They recommended I do this by signing up for their Cash Card service as it was the easiest way to verify my identity using my social security info. 
I contacted them again after successfully signing up for the card, and provided them with the following information to show that both accounts were mine : $ cashtag username for both accounts, old and new. 
Phone number for both accounts. 
Last 3 digits of associated bank accounts for each, ensuring both accounts matched.

Last 4 digits of debit card associated with prior account.

Last 4 digits of the newly acquired Cash Card obtained through their verification process.

Zip code associated with the Cash Card Their response was as follows : " Thank you for providing me with that information once again. I know this process has been tedious and frustrating for you. I attempted to merge your accounts and fro security reasons, I was unsuccessful. As it is we have exhausted all options to help you gain access to your old account. For the protection of your current account, we can not manually override this decision. 

I understand that you had a bitcoin balance in that account. We are unable to reverse or refund any previous bitcoin transactions. I know that this is not the resolution you are looking for and I wish I had better news for you. " After some arguing, they asked me to update my bank information on the new account to make sure all information matched between the new and old accounts. I did so, notified them, and received this response : " I really appreciate you trying that. I attempted again with the old bank account linked to your new Cash App account however unfortunately was still unable to merge these accounts together. Moving forward, you will not be able to access this account. 

Youre welcome to continue using your new Cash App account. " Attempts to get information about why exactly they couldn't were ignored completely and deferred to legal representatives who no doubt do not have access to the requested information. The following is my email requesting information from support : " For my own records and for the purpose of filing a CFPB complaint, could you answer the following questions for me?

What is the reason why Cash App can not merge the two accounts, even after matching bank account info was linked to each account? ( beyond protecting my current account, which is empty ) What is the current amount of bitcoin associated with the old account that is being taken back by Square?

What is Square doing with the funds in the account now that ive been locked out of it?

What will happen to the old account after Square takes the funds? '' Their response : " All legal requests can be served to our agent at XXXX XXXX XXXX XXXX XXXX XXXX " XXXX '' ). Please contact XXXX directly for the closest branch to you. 

Please follow up with XXXX for any future requests. '' The text " XXXX '' was linked to a website, but the link was broken. 

As it stands Cash App has effectively stolen nearly {$1000.00} worth of bitcoin from me under the guise of " protecting my current account, '' which is completely empty as they asked me to make it solely for this purpose. They have instead shifted blame onto me, the consumer, for not updating my phone number beforehand which I could not have foreseen needing to be done.

Company response to consumer: Closed with explanation