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.

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Interest is not accrued on Cash App balances.

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3% fee is added to every transaction made with a credit card.

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Low initial sending and receiving limits on the app for the first 30 days, up to $1,000.

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The debit card issued by Cash App is usable at ATMs, however there is a $2 transaction fee.

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Outside of the US and the UK, Cash App cannot be used.

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You will have to pay 1% of the deposit amount if you select the instant deposit option.

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You are only permitted to withdraw up to $310 every transaction from an ATM and a total of $1,000 every seven days.

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"As a bank replacement, Cash App is probably not a smart idea."

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