Everything you need to know about Cash App. Check this out!
In this review, you will learn:
- What Cash App is
- What Cash Card is and its limit
- How to use Cash App (add and send money)
- How to buy stock and bitcoin using Cash App
So, before you get it to save and invest your money, you better read this thorough review.
Let’s get started!
What is Cash App?
Cash App is a full-service mobile banking app that you can use to save, spend, and invest your money. It is safe, fast, free, and easy to use. It uses a $cashtag as your unique username to send and receive money. It’s easier than remembering your bank number account – most people forget it. The best thing is you can set your $cashtag yourself.
It is Square, Inc. that developed Square Cash in 2013 which later known as Cash App. The app was firstly introduced to transfer and save money in a simpler way using $cashtag. Later on, it adds the investing future that lets you buy stocks and bitcoin in a few clicks.
It is the Sutton Bank or Lincoln Savings Bank, Members FDIC, that provides the Cash App banking services and issue the debit card.
Cash App supports debit and credit cards from American Express, MasterCard, Visa, and Discover. It also supports most government-enable prepaid cards. Unfortunately, it doesn’t support ATM cards, PayPal, and business debit cards at the moment.
The application is growing rapidly. In 2020, there were 90 million Cash App active users that used this app as their financial and investment management app. The users increased 172% compare to the active users in 2018, which were around 30 million users.
Is Cash App safe?
Cash App is safe to use. It protects all of your money and investments with a Touch ID, Face ID, and a passcode. You can pause and set limit your spending. It stores all of your information securely.
Sending and investing money is getting easier now with Cash App. You can transfer and receive money from friends and family instantly. You are also able to invest your money by buying stocks of top US companies and bitcoin with commission free as little as $1.
The real time tracking makes it easier to monitor your investment portfolio. So, you know when to buy more stocks and bitcoin or even sell them to make profit. All can be done with a few clicks on your smartphone.
You will also receive a Cash App card that can be integrated with Apple Pay and Google Pay.
What is Cash App Card?
Cash App card is a physical Visa debit card to purchase items or services, both online and in the stores. It uses the deposit on your Cash App balance when you make payment. A cash card can be linked to your bank accounts.
In order to get a Cash App card, you need to make an order after completing the registration. It appears in black color with a sleek and unique design.
How to order Cash Card?
As a registered Cash card user, you can order to get this card for completely free. You should be at least 18 years old or older to apply for the Cash Card. Then, you will need to verify your personal information like your address, date of birth, and your name.
Here’s how to order Cash Card:
- Open the Cash App.
- Select Cash Card on the home screen.
- Tap Get Cash Card > Continue.
- Follow the on-screen instructions.
- Fill in the personal information.
The process will take around 10 business days. So, please be patient for it arrives in front of your door. After you get it, you need to activate it before using it to purchase things.
Simply scanning the QR code on the box using the app to activate your Cash Card. Then, your card is ready to use.
Can I have a custom Cash Card?
Cash App lets you re-design your Cash Card so that you have a unique one. You can change the color of the card, add emojis and your signature which later would be engraved on your card. This fun aspect makes your card design looks special and different than others.
Please note that Cash App does monitor your drawing and signatures. If they find your design inappropriate, they will not grant your request.
To have a custom Cash Card, please do the followings:
- Launch Cash App and tap on Cash Card on the home screen.
- Tap your Cash Card.
- Choose Design New Card.
Note: To get a custom Cash Card, you need to pay for $5.
Having too many cards on your wallet is quite annoying, not to mention if you lose or forget to bring one of them.
The Cash App seems to understand this problem. They want to make your life simpler by allowing you to integrate your Apple Pay or Google Pay with your Cash Card. The integration can easily be done using the app.
Cash Card Boost
Boost is probably one of the best features on Cash Card. It helps you to save your money by getting discounts when you use it at coffee shops, restaurants, and other merchants.
The discount may vary from one merchant to another. Do the following steps to use Boost on Cash Card:
- Open Cash App and select the Cash Card tab.
- Select Save with Boost.
- Tap on a Boost > Add Boost.
- Start Saving.
Please be aware that each Boost has a different expiration date. So, it’s better to check them regularly so that you don’t miss the offer.
However, Boost can have minimum purchase and maximum discount amounts. Besides, you cannot use Boost to Cash Back transactions.
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Do you need cash?
Cash Card allows you to withdraw cash from any ATM with just a $2 fee charged. However, it is quite usual for ATMs to charge an additional fee for using a card from a different bank account.
To keep your balance safe from excessive withdrawal, your Cash Card sets three different limits:
- $310 per transaction
- $1,000 per 24-hour period
- $1,000 per 7-day period
Not only limit the withdrawals, you can also get the transaction history. Therefore, you can see how much money that you have withdrawn for a period of time. By then, you can manage your spending for the next month.
To get your transaction history as a CSV file, do these steps:
- Open the web browser, visit Cash App’s official website and log in.
- Select Statements in the top right corner.
- Select Export CSV.
Check the Download folder in your computer to see the file. You will need Excel or similar apps to open the file.
Your monthly statement will be available within 5 business days for every new month.
How to Use Cash App
It is easy to use Cash App. It has an elegant and clean UI so you can operate it effortlessly.
To know how Cash App works, you need to download and install it on your devices. Click the download button below and you will be directed to the Google Play or App Store right away.
I assume that you have successfully installed it on your device. Sign up and fill in the necessary information to register for an account. Don’t forget to set up a passcode and Touch ID or Face ID as double protection.