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."