Cash App is a peer-to-peer money transfer service developed by Block Inc. that allows users to send and receive money.
This service can help you send your share of utilities to your roommates, pay friends back for coffee,
split the cost of a trip, or do any other money-sending task you want to accomplish with other Cash App users.
Cash App also functions similarly to a bank account, giving users a debit card — called a “Cash Card” — that allows
them to make purchases using the funds in their Cash App account.
The app also allows users to invest their money in stocks and buy and sell bitcoin.
Cash App has been around since 2013. It was originally called Square Cash, in reference to Square Inc., Cash App’s parent company. Square Inc. was co-founded by Jack Dorsey of Twitter.
How to Sign Up for Cash App?
You can sign up for a Cash App account quickly:
All you need for an account is your name, ZIP code, and either an email or phone number. You don’t need to
link your bank account to open a Cash App account,
but will need to do it eventually to use most of the app’s features.
Once you’ve opened your account, you’ll create your “cash tag” ($Cashtag), which is your unique username.
Your $Cashtag is how people find your account in the app. With your username, you’ll be able to send and
receive payments. You also have the option to get a free Cash App debit card, which the company will send
you in the mail.
The Cash App debit card is connected to your balance, and the card can be used anywhere that accepts Visa.
If you use your debit card at an ATM, Cash App charges a $2 fee. However, Cash App also facilitates direct deposits.
If you have a paycheck direct deposit of at least $300 per month, then Cash App reimburses the $2 ATM fee.
Remember though that your money is not FDIC insured, so if something goes wrong, you’ll be out of luck.
Sending and receiving money is totally free and fast, and most payments are deposited directly to your bank account in minutes.
Cash App can be used to send and receive money with anyone through their phone number or £Cashtag, even if they are in another country!
When you send a payment outside of your country, Cash App will convert the payment based on the
the mid-market exchange rate at the time the payment is created, and your recipient will receive the funds in their local currency.