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Cash App is a mobile payment service available in the United States and the United Kingdom that allows users to transfer money to one another using a mobile phone app. In September 2021, the service reported 70 million annual transacting users and US$1.8 billion in gross profit. Wikipedia
Developer: Block
Available in: English, French
Initial release: October 15, 2013
Operating system: AndroidiOS

What Is Cash App?

Cash App is a P2P payment app that lets individuals quickly send, receive, and invest money. Block, Inc., formerly Square, Inc., launched the app, initially named Square Cash, in 2013 to compete with mobile payment apps like Venmo and PayPal.

Cash App is a financial platform, not a bank. It provides banking services and debit cards through its bank partners. The balance in your account is insured by the Federal Deposit Insurance Corporation through partner banks. Cash App provides investing services through Cash App Investing LLC, registered with the Securities and Exchange Commission as a broker-dealer and a member of the Financial Industry Regulation Authority.

Through Cash App, users can send and receive money, get a debit card, and receive direct deposits. The investing feature lets users invest in stocks for as little as $1. This is done by buying a portion of a stock, called a fractional share. Consumers can also buy, sell, or transfer Bitcoin through the app.

With Cash App Taxes (formerly Credit Karma Tax), users can file their taxes for free. With this feature, Cash App is quickly becoming a one-stop shop for financial services.


  • Transaction limits on Cash Card use
  • Cash App balance is not FDIC-insured without a Cash Card
  • ATM withdrawals come with a $2 fee
  • Users can’t cancel Cash App to Cash App payments

Cash App earned a World score of 4.8 out of 5.


Cash App Cash Cards can be used at any ATM for a $2 fee. However, customers who have at least $300 of their paycheck deposited into their Cash App account each month will be instantly reimbursed for ATM fees. Once free ATM withdrawals have successfully been activated, each subsequent qualifying deposit adds another 31 days of ATM fee reimbursements.

It’s free to open a Cash App Investing account. No minimum balance is required, and there are no commission fees. Although Cash App Investing charges no fees for trades, users may be assessed regulatory and government fees by agencies such as the Securities and Exchange Commission. All fees are disclosed before trades are confirmed, and the fees are listed in the trade confirmation message.


Is Cash App legitimate? According to the company’s shareholder letter in the fourth quarter of 2021, Cash App generated $518 million in gross profit and was up 37% year over year. The Cash Card scaled significantly, with more than 13 million active Cash Cards in December 2021. Overall in 2021, Cash App generated $2.07 billion in gross profit, up 69% year over year.

Ease of Use

It’s easy to send and receive payments in Cash App. To send a payment:

  1. Open Cash App.
  2. Enter the amount to send.
  3. Tap “Pay.”
  4. Enter the recipient’s $Cashtag, phone number, or email address.
  5. Enter what the payment is for.
  6. Tap “Pay.”
  7. Confirm your transaction by confirming your Cash PIN or using the Touch ID option.
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Note: Any money you receive via Cash App is added to your Cash App balance by default. You can keep it there or transfer it to a linked bank account. Cash App charges a fee for instant transfers (0.50% to 1.75% of the transfer amount, with a minimum fee of $0.25), but you can also choose a standard no-fee transfer, which typically takes one to three business days to complete.

Cash App customers can see their received payments in their activity feed. To review a received payment:

  1. On the home screen, tap the Activity tab.
  2. Select the payment to review.
  3. Decide whether to transfer the payment to a bank account or the account holder’s Cash App account balance.

Cash App Review [2023]: Is it a Safe Way to Send and Receive Money?


Is Cash App safe? Cash App uses state-of-the-art encryption and fraud detection technology to secure customers’ money and data. All submitted account information is encrypted and securely sent to Cash App servers through private and public Wi-Fi connections.

Customers can take some simple precautions to keep the money in their Cash App account safe. To have a more secure Cash App experience, users should:

  • Completely sign out of their Cash App account if they sign in on a device that’s different from their own.
  • Create a passcode for their mobile device and enable multi-factor authentication for their email account.
  • Enable the Security Lock setting, requiring a PIN or Touch ID to make payments from their Cash App account.

Who Can Use Cash App?

Cash App is for individuals ages 13 and older. Users aged 13 to 17 require approval from a parent or guardian to access expanded Cash App features like P2P transactions, direct deposit, and a Cash Card.

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Other features, such as investing and bitcoin, are only available for Cash App users who are at least 18 years of age.

Does Cash App Offer a Debit Card?

Yes. Cash App users can receive a Cash Card, which is a debit card tied to their Cash App account. Like most debit cards, the Cash Card can be used to make purchases online and in person. You can also add your Cash Card to digital wallets like Apple Pay or Google Pay.

Users can also use the Cash Card at ATMs. Cash App charges a $2.50 fee per ATM transaction. In addition, the ATM owner may charge a separate fee for ATM use. For users who receive direct deposits of at least $300 each month, Cash App reimburses ATM fees, including one third-party ATM fee per 31-day period. Each receipt of qualifying direct deposits of $300 or more within a month extends your ATM fee reimbursements for an additional 31 days.

Cash Card transactions are subject to the following withdrawal limits:

  • $7,000 per day
  • $10,000 per week
  • $15,000 per month

To apply for a Cash Card, users will need to verify their account using their full name, date of birth, mailing address, and the last four digits of their Social Security number. Additional information may be requested to verify an account.

How To Apply

Signing up for a Cash App account is quick and easy.

Create an Account

  1. Download the free app from Google Play or the Apple App Store or scan the QR code from the website.
  2. Enter your name, ZIP code, email address, and phone number.
  3. Choose your $Cashtag to send and receive payments. $Cashtags must include at least one letter and can be no longer than 20 characters.
  4. Link your bank account to open a Cash App account and access most of the app’s features.

Comparable Products and Services

CashApp, VenmoPayPal, and Zelle are similar peer-to-peer mobile payment apps used to transfer money to recipients. Here’s how their features compare.

Transfer speed – Instant: 1.5% fee
– 1 to 3 business days: no fee
– Instant: 1.5% fee
– 1 to 3 business days: no fee
– Instant: 1% fee
– 1 to 3 business days: no fee
Existing account: within minutes

– New account: A few minutes longer

Fees – Instant transfers: 1.5%
– Send with credit card: 3%
– ATM withdrawal: $2
– Bitcoin purchases: 2% to 3%
– Instant transfers: 1.5%
– Send with credit card: 3%
– ATM in-network withdrawal: $2-$2.50
– Cryptocurrency transfers: 1.5% to 2.3%
– Businesses: 2.9% and $0.30 per transfer
– International transfers: 4.4% plus fixed-rate currency exchange
– Bank or credit union may charge fees
Payment methods – Cash App balance
– Linked bank account
– Credit or debit card
– Venmo balance
– Linked bank account
– Credit or debit card
– American Express account
– PayPal balance
– Linked bank account
– Credit or debit card
– Linked bank account
– Credit or debit card
Notable features – Income tax filing
– Bitcoin purchases
– Stock investing
– Purchasing with Venmo credit card
– Buying cryptocurrency
– Wide range of services
– $10 referral bonus
– No additional security details required
– Instant payments

What Are the Dollar Limits on Cash App?

Cash App restricts how much you can send or receive when you first open an account. Users can send up to $1,000 per 30-day period and receive up to $1,000 per 30-day period.

Cash App users can have their accounts verified to access higher limits. Sending limits vary depending on the amount of money Cash App approves you for. However, there is no limit to how much money you can receive through the mobile app once you are verified.

Is Cash App Safe?

Cash App’s website says the app employs the latest encryption and fraud protection technology to protect its users. As a security measure, the app will send you a one-time-use code when logging into your account.

Cash App also offers optional settings to enable additional security measures. By enabling a security lock, for example, every Cash App payment requires your passcode. You can also disable your Cash Card within the app, which could come in handy if your card is lost or stolen.

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