Cash App Pay

Cash App is a financial platform that provides services through its banking partners, Lincoln Savings Bank and Sutton Bank. It also provides investment services through Cash App Investing LLC, a registered broker-dealer and member of the Financial Industry Regulatory Authority (FINRA).

The service is an app available for iOS and Android that allows users to easily send, receive, and invest money, among many other features. From savings to tax filing, Cash App continues to expand its range of features.

How does Cash App work?

Cash App offers the following services and features:

• Money Transfers : Users can send and receive money, as well as transfer funds from their Cash App account to a linked bank account. Both sending and receiving money are free. Standard transfers are also free and take one to three business days to complete. Instant transfers are also an option, but the fee is 0.50% to 1.75% of the transfer amount, with a minimum fee of $0.25.
• Cash Card : Cash App offers a free Visa debit card that is linked to the user's Cash App balance. Cardholders can use Cash Card at ATMs, which charge a $2 withdrawal fee per withdrawal (unless they have direct deposit set up), and for online and in-store purchases.
• Cash App Pay: Cash App can also be used as a payment method to pay online or in-person at Square Sellers and select merchants.
• Discounts: Cash Card holders receive Boosts — instant discounts at eligible retailers and restaurants. You can only have one Boost active at a time, but can change which one as many times as you like.
• Direct Deposit: Users can deposit paychecks and tax returns into their Cash App accounts.
• Savings: The app allows users to deposit money from their linked payment sources or Cash App balance into a savings account with no fees or minimum balance requirements. Users with an activated Cash Card can also set up a “Rounding to Savings” feature to automatically round up card transactions and add the change to a savings balance. Note that unlike traditional or high-yield savings accounts, the Savings feature does not accrue any interest.
• Investing: Cash App Investing allows users to buy stocks or ETFs using funds in their Cash App account (or a linked debit card if funds are insufficient for the purchase). Users can also sell stocks and ETFs they own on Cash App and have the sale amount added to their app balance. The platform does not charge commissions.
• Bitcoin: Another service Cash App offers is the ability to buy, sell, send, and receive Bitcoin. Sending and receiving Bitcoin is free, but the platform can charge fees for purchases and sales. Additionally, users who have set up direct deposit can choose to have a percentage of their pay deposited in Bitcoin.
• Tax filing: With Cash App Taxes, users can file state and federal taxes for free and get a guaranteed maximum refund.

How to use Cash App

To use Cash App, you need to download the app for iOS and Android. Once you set up your account, you can connect it to your bank account to start using the platform. You can also link your Visa, MasterCard, American Express, and Discover debit and credit cards. However, Cash App may charge a processing fee if you use a credit card as a payment method.

You'll also be prompted to create a username. Every person and business using Cash App has a username that you can use to send or request money. Alternatively, you can search by name, email address, or phone number.

How to Add Money to Cash App

If you need to add money to your Cash App balance (for example, to make a purchase using a Cash Card), go to the Funds tab on the app's home screen. Press Add Money and follow the prompts to select the amount you want to deposit.