Top perks
Convenient payment solution
Cash App is a convenient app to use. If you need to settle a bill with a friend or family member or want to send money to someone as a gift, you can do so quickly. The app has a user-friendly interface and is a convenient solution if you prefer to send and receive money digitally.
Free to send money with a linked debit card or bank account
Cash App is free to download. No fees are charged if you send a payment with funds loaded from your bank account or debit card. It's always free to receive money through Cash App.
Pay for purchases at participating retailers
You can use Cash App to pay for purchases at participating in-store and online retailers. You can pay for in-person purchases by scanning the retailer's Cash App QR Code. When shopping online with a participating retailer, select Cash App Pay as your payment method and follow the prompts to finalize your payment.
Buy and sell stocks and Bitcoin
In addition to money transfers, Cash App users can buy and sell stocks and Bitcoin through the app. While Cash App likely isn't the ideal solution for all your investment needs, it's nice to have the option to invest through the app.
READ MORE: If you want to invest more regularly, check out our list of the best online stock brokers for beginners.
Send and receive stocks and Bitcoin
You can send and receive money through Cash App, but that's not all. You can also send and receive stocks and Bitcoin -- giving you greater flexibility in how you pay (and get paid by) your trusted friends and family.
No fees for international payments
Some of the best payment apps charge a fee for international money transfers. But when you use Cash App, you don't have to worry about foreign transaction fees. When you send a payment to a user in the United Kingdom or Ireland, the payment is converted based on the mid-market exchange rate at the time of the transaction. The recipient will receive the funds in their local currency. There are no extra charges.
Electronically deposit checks for free
You can electronically deposit checks into your Cash App account at no extra cost through the app. This can be a convenient solution if you need to deposit a check quickly while on the go or if you want to set up direct deposit through Cash App. Users can also deposit paper checks at participating retailers through Cash App, but a $1 fee applies for this service.
What could be improved
Fees apply when using a credit card
When sending money through Cash App, you can link a bank account, debit card, or credit card. Similarly to other payment apps, you'll pay a fee when funding your account with a credit card. Cash App charges the sender a 3% fee, which is standard compared to those charged by other payments apps.
Low send and receive limits
By default, Cash App has low send and receive limits. You can only send and receive up to $1,000 within a 30-day period. Users must verify their identity, birthday, and Social Security numbers through the app to increase these limits.
Limited International payment options
Cash App is only available to users in the United States, Ireland, and the United Kingdom. While Cash App notes on its website that money can be sent to anyone worldwide, that doesn't seem accurate. A person must create an account to accept funds sent through Cash App. According to Cash App's terms and conditions, users must live in the United States, Ireland, or the United Kingdom to have an account. You'll only be able to send and receive payments from users in these regions. If you send international payments often, you'll want to choose a different payment app.
Money kept in your Cash App account isn't FDIC insured
Similarly to other payment apps, the money stored in your Cash App account isn't FDIC insured unless you have a Cash Card. If you have this free debit card, the money in your account is FDIC insured up to $250,000.
It's recommended that you don't maintain a Cash App balance because your funds aren't insured. When receiving money from another user, transferring it to an FDIC-insured bank account is the best way to protect your money.
READ MORE: What Is FDIC Insurance?