Cash App is a peer-to-peer (P2P) payment system like that of Venmo and PayPal. The parent company is Square Inc.
P2P payments allow consumers to send and receive money without a bank account. You can also store money right on the Cash App platform.
Cash App reported more than 70 million customers had used the app in one year, as of September 2021. Few American companies have such a wide reach for financial transactions.
How do you use the Cash App step by step?
Let’s take a closer look.
What is Cash App
Now that almost everyone owns a smartphone, digital apps may dominate financial transactions. The founding of PayPal in 1998 during the Internet bubble started that trend. Since then, online payment systems have grown into a multi-billion dollar industry.
Cash App came from Square in 2013. The app derives from competing with other well-known P2P online payment services.
Its capabilities include:
- Send and receive money
- Pay bills
- A Cash Card for personal use (linked to your Cash App balance or bank account)
- Buy, sell, and send Bitcoin
- Invest in stocks
To help young people use Cash App for the first time, the company now allows users of 13 years and older. With restrictions and oversight, teenagers can take part in some of the app’s features.
For anyone with a Cash App account, there might be a few drawbacks.
A Cash Card via your account charges a $2 fee on ATM withdrawals. And any funds kept on your Cash App balance does not come with FDIC insurance.
Also, a 3% fee gets applied if you use a linked credit card. (Avoid that fee by using your Cash App balance or the Cash Card connected to your account.)
Spending limits on the Cash Card:
- $7,000 per transaction
- $10,000 per week
- $25,000 per month
Finally, the ATM or cashback withdrawal limit on your Cash Card sits at $1,000. That’s the same maximum amount per day or in a given week.
Other than that, no fees come with sending or receiving money as long as you apply your Cash App balance or the linked bank account.
Customize the Cash Card to your personal preferences. Discounts applied through a “cash boost” promo come for specific vendors.
Direct deposits with a paycheck allow Cash App users to get their money up to two days early. If you receive more than $300 per month this way, ATM withdrawals come free via your Cash Card.
Requirements to get started with a Cash App account need a few simple steps.
How to Use Cash App for the First Time
Do you need a bank account to Cash App? Yes, you do. That’s one of the requirements when you first sign up.
Here’s how Cash App users create their accounts.
- First, you’ll need to download the app (Android and Apple iPhone versions are available)
- After you download the app, you’ll need to fill in a few personal details
- Get a confirmation code through email or text to confirm your account
- Link a bank account via your debit card
- Choose a username or a $Cashtag to send and receive payments (like using your email address for PayPal)
- Type in your zip code that matches the one with your bank account
- You’re ready to get started
Once you’ve got your account all set up, you can add cash to your balance.
- Open the Banking tab in your Cash App account (lower-left corner)
- Click ‘Add Cash’
- Choose the amount
- Click the ‘Add’ button
- Use a Touch ID or PIN to confirm your transaction
Follow these steps to send or receive money via Cash App:
- Click the $ sign on the dashboard
- Type in the amount you want to send or receive
- Click Pay/Request (locate a $Cashtag, email address, or a phone number)
- Add a personal note (optional)
- Click Pay/Request
Your account Activity tab shows your activity feed. Check that for confirmation.
To withdraw money from your Cash App account:
- Click the Cash App balance to open the Banking tab
- Click ‘Cash Out’
- Type in the amount you want to withdraw
- Click ‘Cash Out’ to confirm the transaction
Withdrawal options linked to your bank account/debit card include:
- Standard deposit (Comes within 1-3 business days – no fee)
- Instant deposit (Comes right away – 1.5% fee)
You can also request the Cash Card via your dashboard by clicking ‘Get Cash Card’ and following the steps.
The Bitcoin icon allows you to buy, sell, or send the cryptocurrency. (A graph depicts its current value in USD.)
An Investing Tab allows you to invest in stocks. Features include buying, selling, and owning stocks on the platform. Here are some of the top stocks available on the Cash App:
- Shopify Inc. (SHOP)
- Square, Inc. (SQ)
- Apple Inc. (AAPL)
- Alphabet Inc. (GOOGL)
- PayPal Holdings, Inc. (PYPL)
Cash App brings all of these financial features together in one simple setup.
Sites That Accept Cash App
Who accepts Cash App? Any vendors that take Visa, MasterCard, Discover, or American Express cards.
That includes big chain stores like Target, Walmart, and Amazon. Stores that accept Cash App may even allow you to make a transaction by sending a payment to their $Cashtag.
You should also use your Cash Card linked to the balance/bank account on your Cash App account.
Websites that accept Cash App include GrubHub, DoorDash, and other major online retailers.
Cash App gambling also comes via quick financial transactions for online casinos. Those sites include:
- 888 Casino
- Las Atlantis
- Wild Casino
- El Royale Casino
Click here to learn more about the best Cash App casinos for safe and easy deposits and withdrawals.
Cash App has become one of the most common tools for digital financial transactions. With a dashboard that’s easy to navigate, the app comes with many features. They combine to make it one of the best financial apps for anyone 13 or older.
Direct deposit also allows users to receive paychecks, tax refunds, and unemployment checks—right to their Cash App balance.
Pay your bills on the app and invest in stocks or Bitcoin. Make deposits and withdrawals via your favorite online casinos.
Cash App acts as one of the most secure methods to send and receive money right from your smartphone. When it comes to online financial transactions, this is as easy as it gets.
Download Cash App for your Apple iPhone or mobile Android device to get started today.