Is Cash App Good? Things to know before using
Cash App is not FDIC-insured, no assurance that you'll receive your money back if your account is compromised.
Interest is not accrued on Cash App balances.
3% fee is added to every transaction made with a credit card.
Low initial sending and receiving limits on the app for the first 30 days, up to $1,000.
The debit card issued by Cash App is usable at ATMs, however there is a $2 transaction fee.
Outside of the US and the UK, Cash App cannot be used.
You will have to pay 1% of the deposit amount if you select the instant deposit option.
You are only permitted to withdraw up to $310 every transaction from an ATM and a total of $1,000 every seven days.
"As a bank replacement, Cash App is probably not a smart idea."
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