--- title: Is Your Cash App a Cash Trap? description: Using a cash application to transfer funds? Use our tips to ensure you don't experience any unexpected security issues with the app. image: https://blog.iqor.com/hubfs/rachit-tank-625170-unsplash.jpg --- - Solutions - [Customer Interaction Solutions](http://www.iqor.com/solutions/customer-contact-solutions) - [Product Support Services](http://www.iqor.com/solutions/aftermarket-services) - [Data Solutions & Analytics](http://www.iqor.com/solutions/data-solutions-analytics) - [iQor LinQ](http://www.iqor.com/solutions/linq) - Culture - [Overview](http://www.iqor.com/culture) - [Leadership](http://www.iqor.com/culture#culture-leadership) - [Investors](http://www.iqor.com/culture#culture-leadership) - [Locations](http://www.iqor.com/culture#culture-global) - Careers - [Overview](http://www.iqor.com/careers) - [Customer Interaction](http://www.iqor.com/careers#careers-ccs) - [Product Support](http://www.iqor.com/careers#careers-ams) - [Leadership](http://www.iqor.com/careers#careers-leadership) - Industries - [Media & Wireless](http://www.iqor.com/industries/media-wireless-support) - [Digital Infrastructure](http://www.iqor.com/industries/digital-infrastructure) - [Consumer Electronics](http://www.iqor.com/industries/consumer-electronics) - [Telecommunications](http://www.iqor.com/industries/telecommunications) - [Transportation & Logistics](http://www.iqor.com/industries/transportation) - [Utilities](http://www.iqor.com/industries/utilities) - [Retail & E-tail](http://www.iqor.com/industries/wholesale-retail) - [Financial Services & Insurance](http://www.iqor.com/industries/financial-services) - [Healthcare](http://http://www.iqor.com/industries/healthcare) - General - [Blog](http://www.iqor.com/blog) - [Resources](http://www.iqor.com/resources) - [Experience Matters](http://www.iqor.com/experience-matters) - [Privacy Policy](http://www.iqor.com/privacy-policy) - [Sustainability Policy](http://www.iqor.com/sustainability-policy) - [Terms of Use](http://www.iqor.com/terms-of-use) - Contact - [Get In Touch](http://www.iqor.com/contact) [![iqor](https://blog.iqor.com/hubfs/IQORDec2016%20Theme/Image/xiqor-logo.png.pagespeed.ic.lyylfHuds4.png)](http://www.iqor.com) - [About](http://www.iqor.com/about) - Solutions - [Customer Interaction Solutions](http://www.iqor.com/solutions/customer-contact-solutions) - [Product Support Services](http://www.iqor.com/solutions/aftermarket-services) - [Data Solutions & Analytics](http://www.iqor.com/solutions/data-solutions-analytics) - [iQor LinQ](http://http://www.iqor.com/solutions/linq) - [Culture](http://www.iqor.com/culture) - [Careers](http://www.iqor.com/careers) - Industries - [Media & Wireless](http://www.iqor.com/industries/media-wireless-support) - [Digital Infrastructure](http://www.iqor.com/industries/digital-infrastructure) - [Consumer Electronics](http://www.iqor.com/industries/consumer-electronics) - [Telecommunications](http://www.iqor.com/industries/telecommunications) - [Transportation & Logistics](http://www.iqor.com/industries/transportation) - [Utilities](http://www.iqor.com/industries/utilities) - [Retail / E-tail](http://www.iqor.com/industries/wholesale-retail) - [Financial Services & Insurance](http://www.iqor.com/industries/financial-services) - [Healthcare](http://www.iqor.com/industries/healthcare) - [Resources](http://www.iqor.com/resources) - [Blog](https://blog.iqor.com/) - [Contact](http://www.iqor.com/contact) # Is Your Cash App a Cash Trap? ## STOP UNAPPLIED OR INCORRECTLY APPLIED MONEY IN ITS TRACKS [![Share on Facebook](https://static.hubspot.com/final/img/common/icons/social/facebook-24x24.png)](http://www.facebook.com/share.php?u=https%3A%2F%2Fblog.iqor.com%2Fis-your-cash-app-a-cash-trap%3Futm_medium%3Dsocial%26utm_source%3Dfacebook) [![Share on LinkedIn](https://static.hubspot.com/final/img/common/icons/social/linkedin-24x24.png)](http://www.linkedin.com/shareArticle?mini=true&url=https%3A%2F%2Fblog.iqor.com%2Fis-your-cash-app-a-cash-trap%3Futm_medium%3Dsocial%26utm_source%3Dlinkedin) [![Share on Twitter](https://static.hubspot.com/final/img/common/icons/social/twitter-24x24.png)](https://twitter.com/intent/tweet?original_referer=https%3A%2F%2Fblog.iqor.com%2Fis-your-cash-app-a-cash-trap%3Futm_medium%3Dsocial%26utm_source%3Dtwitter&url=https%3A%2F%2Fblog.iqor.com%2Fis-your-cash-app-a-cash-trap%3Futm_medium%3Dsocial%26utm_source%3Dtwitter&source=tweetbutton&text=Is%20Your%20Cash%20App%20a%20Cash%20Trap%3F) [![Share on Email](https://static.hubspot.com/final/img/common/icons/social/email-24x24.png)](mailto:?subject=Check%20out%20https%3A%2F%2Fblog.iqor.com%2Fis-your-cash-app-a-cash-trap%3Futm_medium%3Dsocial%26utm_source%3Demail%20&body=Check%20out%20https%3A%2F%2Fblog.iqor.com%2Fis-your-cash-app-a-cash-trap%3Futm_medium%3Dsocial%26utm_source%3Demail) ## Don't Keep Your Cash in Suspense   Cash application is the process of applying electronic payments or lockbox receipts, recording those payments and depositing them in a company’s bank account. That may sound straightforward, but a surprising number of bottlenecks can trap your cash along the way. Duplicate payments, missing or incorrect account or invoice numbers, customer disputes and misapplication are some of the so-called exceptions that take time and skill to resolve. Meanwhile, your company is sitting on a stack of unapplied or incorrectly applied money that can trigger audit and compliance problems and is doing nothing for your business.   ## How to Turn Cash to Capital You can turn idle cash into hard-working capital by conducting a thorough internal review of all the steps in your cash application process, from order entry and billing to customer care. Look for opportunities to set up ongoing controls, alerts and maintenance routines. Establish metrics-based analyses. Explore ways to improve communication with accounts receivables staff and customers.  For the most comprehensive, sophisticated cash application solutions, consider looking outside your company. An outsourced partner with expertise in the area has access to state-of-the-art workflow tools for tracking, monitoring and streamlining your systems, resulting in improvements in accuracy and Time-to-Process that can be dramatic.    ## iQor's E-Guide Tells More Learn more about ways you can free your cash from captivity by downloading iQor’s definitive e-guide, [“Cash Application Today: Avoiding Cash Traps in a Slow Growth Economy.”](https://info.iqor.com/lp-eguide-cash-application)  iQor is the leading provider of exception cash application process servicing today. [Contact Us](http://www.iqor.com/contact) to talk about your company’s needs.  [![Share on Facebook](https://static.hubspot.com/final/img/common/icons/social/facebook-24x24.png)](http://www.facebook.com/share.php?u=https%3A%2F%2Fblog.iqor.com%2Fis-your-cash-app-a-cash-trap%3Futm_medium%3Dsocial%26utm_source%3Dfacebook) [![Share on LinkedIn](https://static.hubspot.com/final/img/common/icons/social/linkedin-24x24.png)](http://www.linkedin.com/shareArticle?mini=true&url=https%3A%2F%2Fblog.iqor.com%2Fis-your-cash-app-a-cash-trap%3Futm_medium%3Dsocial%26utm_source%3Dlinkedin) [![Share on Twitter](https://static.hubspot.com/final/img/common/icons/social/twitter-24x24.png)](https://twitter.com/intent/tweet?original_referer=https%3A%2F%2Fblog.iqor.com%2Fis-your-cash-app-a-cash-trap%3Futm_medium%3Dsocial%26utm_source%3Dtwitter&url=https%3A%2F%2Fblog.iqor.com%2Fis-your-cash-app-a-cash-trap%3Futm_medium%3Dsocial%26utm_source%3Dtwitter&source=tweetbutton&text=Is%20Your%20Cash%20App%20a%20Cash%20Trap%3F) [![Share on Email](https://static.hubspot.com/final/img/common/icons/social/email-24x24.png)](mailto:?subject=Check%20out%20https%3A%2F%2Fblog.iqor.com%2Fis-your-cash-app-a-cash-trap%3Futm_medium%3Dsocial%26utm_source%3Demail%20&body=Check%20out%20https%3A%2F%2Fblog.iqor.com%2Fis-your-cash-app-a-cash-trap%3Futm_medium%3Dsocial%26utm_source%3Demail) ### Subscribe ##### FEATURED POSTS ### [Becoming Digital: Rise of the Augmented Agent Customer Service, Product Support, Customer Experience](https://blog.iqor.com/becoming-digital-rise-of-the-augmented-agent) [Read More](https://blog.iqor.com/is-your-cash-app-a-cash-trap) ### [Agents Need Virtual Assistants Too Customer Service, Product Support, Customer Experience](https://blog.iqor.com/agents-need-virtual-assistants-too) [Read More](https://blog.iqor.com/is-your-cash-app-a-cash-trap) ### [Customer Service Week 2019 at iQor Customer Service, Events](https://blog.iqor.com/customer-service-week-2019-at-iqor) [Read More](https://blog.iqor.com/is-your-cash-app-a-cash-trap) ### View other posts tagged: [Product Support](https://blog.iqor.com/topic/product-support) ![Customer Service Week 2019 at iQor](https://blog.iqor.com/hubfs/Customer%20Service%20Week%202019.png "Customer Service Week 2019 at iQor") [Customer Service Week 2019 at iQor](https://blog.iqor.com/customer-service-week-2019-at-iqor) October 14, 2019 [+](https://blog.iqor.com/customer-service-week-2019-at-iqor) ![Three Ways to Extend the Life of Media Devices and Strengthen the Customer Experience](https://blog.iqor.com/hubfs/shutterstock_1233444955.jpg "Three Ways to Extend the Life of Media Devices and Strengthen the Customer Experience") [Three Ways to Extend the Life of Media Devices and Strengthen the Customer Experience](https://blog.iqor.com/three-ways-to-extend-the-life-of-media-devices-and-strengthen-the-customer-experience) June 13, 2019 [+](https://blog.iqor.com/three-ways-to-extend-the-life-of-media-devices-and-strengthen-the-customer-experience) ![iQorian Values Week 2019](https://blog.iqor.com/hubfs/chihuahua%20ivw%202019%20sign.jpg "iQorian Values Week 2019") [iQorian Values Week 2019](https://blog.iqor.com/iqorian-values-week-2019) May 30, 2019 [+](https://blog.iqor.com/iqorian-values-week-2019) ![Co-Sponsors the 2019 Dinagyang Music Festival in Iloilo](https://blog.iqor.com/hubfs/music%20festival%20(1).png "Co-Sponsors the 2019 Dinagyang Music Festival in Iloilo") [Co-Sponsors the 2019 Dinagyang Music Festival in Iloilo](https://blog.iqor.com/co-sponsoring-the-2019-dinagyang-music-festival-in-iloilo) March 11, 2019 [+](https://blog.iqor.com/co-sponsoring-the-2019-dinagyang-music-festival-in-iloilo) ###### Careers - 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