Payment apps are popular, but here’s why you shouldn’t store money in them
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The CFPB has found that funds stored in a payment app ‘may be at significantly higher risk of loss for a consumer than if it is deposited in an insured bank or credit union account.’
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.