Cash App Review (2026)

Facts checked October 19, 2026 against Cash App's own account agreements, fee pages, FDIC and regulator records (11 sources, listed below). We re-check prices about once a month. We do not earn a commission from Block, Inc. (Cash App).

Cash App at a glance

How Cash App works

Cash App started as a way to send money between people and now offers a debit card, direct deposit and savings. Block, Inc. runs it and says plainly that Cash App is "a financial services platform, not a bank." The banking side runs through partner banks: Sutton Bank and The Bancorp Bank, N.A. issue the cards, and your savings balance sits in an account for the benefit of Cash App customers at Wells Fargo Bank, N.A. These balances are eligible for FDIC pass-through insurance only if you have a Cash App Card or a sponsored account and certain conditions are met. Without one, the Terms of Service say your Cash balance and Savings balance are not protected by FDIC pass-through insurance.

Much of what Cash App gives depends on Cash App Green. You qualify in a month by spending $500 or more in qualifying purchases with the Cash App Card or Cash App Pay, or by receiving $300 or more in qualifying deposits such as a paycheck, pension or government benefit; the two do not combine. Green lifts savings from 1.5% to 3.5% interest, reimburses the $2.50 fee at in-network ATMs, waives the 3% foreign transaction fee on in-person purchases and opens Free Overdraft Coverage of up to $200 on card purchases. The Savings Terms set your rate as a share of the interest Wells Fargo pays: 98.59% with Green, 42.25% without. No as-of date appears next to the rate, and it moves with what Wells Fargo pays.

The fees are where Cash App differs from a fee-free bank. Each ATM withdrawal costs $2.50 from Cash App, in or out of network, plus whatever the ATM owner charges. Adding paper money at a store costs $1 a deposit. Moving money to a bank instantly costs 0.5% to 2.5% (minimum $0.25 to $1, maximum $75); the standard transfer is free and takes 1 to 3 business days. Cash App also offers small loans through Borrow, issued by Block's own bank, Square Financial Services; we could not confirm its fee from Cash App's pages.

A hypothetical: you take cash from an ATM 4 times a month. Without Green, Cash App's fee is 4 x $2.50 = $10 a month, or $120 a year, before any ATM owner fees. While you have Green, the $2.50 is reimbursed at in-network MoneyPass ATMs, so the same 4 withdrawals cost $0 from Cash App there. Out of network, owner fees still apply. If you use cash often, a bank with a free ATM network may cost less; see our banking app comparison.

Who Cash App fits, and who should skip it

Limitations to know

• The 3.5% rate applies only in months with Green status; otherwise savings earns 1.5%, and you must confirm your tax information to earn interest at all. [1]
• Free Overdraft Coverage applies to Cash App Card purchases only, not ATM withdrawals, cash back or ACH payments, and the limit (up to $200) depends on your account activity. [2]
• Your Cash balance earns nothing: the Terms of Service assign that interest to Block. [2]
• Cash App's own pages differ on what qualifies you for some benefits; the Terms of Service list $500 in purchases or $300 in qualifying deposits a month. [2]
• Bitcoin and stocks bought in Cash App are not FDIC insured. [3]
• Borrow loans are issued by Square Financial Services, Inc. (FDIC cert 59177), a bank Block owns. Borrow is a loan, not an overdraft, and we could not confirm its flat fee from Cash App's pages. [6]

Cash App compared with alternatives

• Pick OnePay if you want 3.35% APY on savings with no monthly conditions and fee-free Allpoint ATMs.
• Pick Ally Bank if you want a bank that holds your money directly, 75,000+ no-fee ATMs and no overdraft fees.
• Pick Chime if you get paid by direct deposit and want up to 4.00% APY on savings with Chime Prime.

Security and privacy

• FDIC pass-through coverage depends on having a Cash App Card or sponsored account; the section on who holds your money explains what the FDIC says about nonbank apps. [2]
• Security Lock requires your face, fingerprint or PIN before a payment goes through. You can also lock your card and get real-time alerts, and Cash App's Zero Fraud Liability covers unauthorized card charges reported within 60 days. [5]
• On January 16, 2025 the CFPB ordered Block to pay $75 million to $120 million in redress and a $55 million civil penalty over how Cash App handled fraud, customer service and error disputes (consent order 2025-CFPB-0001). [8]
• On January 15, 2025, 48 state regulators fined Block $80 million over Bank Secrecy Act and anti-money laundering failures at Cash App. [9]
• On April 10, 2025 New York DFS fined Block $40 million over anti-money laundering and virtual currency compliance failures and required an independent monitor. [10]
• On February 1, 2024 the FDIC and Ohio's Division of Financial Institutions issued a consent order against partner bank Sutton Bank, not Cash App, over its anti-money laundering program and oversight of prepaid program managers; it carried no penalty. [11]
• We did not read Cash App's privacy notice, so its data-sharing practices are not covered here.

Recent changes

Cash App FAQ

Is Cash App a bank?

No. Cash App says it is "a financial services platform, not a bank" and partners with banks for its banking services: Wells Fargo Bank, N.A., Sutton Bank and The Bancorp Bank, N.A. It is run by Block, Inc., a public company (NYSE: XYZ). Block also owns a Utah bank, Square Financial Services, which issues Borrow loans.

Is Cash App safe / FDIC insured?

Balances can be covered by FDIC pass-through insurance at the partner banks, up to $250,000 per customer per bank, but only if you have a Cash App Card or sponsored account and certain conditions are met. Without one, they are not pass-through insured. Block was ordered to pay a $55 million CFPB penalty in 2025 over fraud and dispute handling.

What does Cash App pay on savings?

Up to 3.5% interest in months you have Cash App Green, and 1.5% otherwise, once you confirm your tax information. Cash App calls it interest, not APY, and shows no as-of date. Compare rates at banks in our <a href="/high-yield-savings/">high-yield savings comparison</a>.

Does Cash App charge fees?

There is no monthly fee, but there are use fees: $2.50 per ATM withdrawal (reimbursed in network with Green), $1 per paper money deposit, 0.5% to 2.5% for instant transfers, 3% on foreign transactions without Green and 3% to send from a credit card.

Cash App vs Chime?

Both are fintechs whose partner banks hold the money. Cash App pays up to 3.5% interest on savings with Green ($500 in card spending or $300 in deposits a month) and charges $2.50 per ATM withdrawal without Green. <a href="/neobanks/chime/">Chime</a> pays 4.00% APY with Chime Prime ($3,000+ in qualifying direct deposits in 34 days), 3.00% with Chime Plus and 1.00% standard, as of October 6, 2026.

How does Cash App Free Overdraft Coverage work?

If you have Cash App Green and opt in, Cash App may cover Cash App Card purchases that go past your balance, up to a limit of no more than $200 that depends on your deposits and activity. There is no fee or interest. It does not cover ATM withdrawals, cash back or ACH payments, and sponsored accounts are not eligible.

How we researched this review

We did not get paid or receive a free account for this page. We read Cash App's own pricing page, help center, security and privacy pages and app-store listing on October 19, 2026, quoted each fact from those pages, and link every one below. We did not run a long-term hands-on test, so we do not score the app; where a point rests on what the company says rather than something we can check, we attribute it to Cash App. Cost figures are our own arithmetic. We re-check prices and plans about once a month and log changes in the table above.

Sources

1. Cash App, Savings, checked October 19, 2026.
2. Cash App, Terms of Service (last updated September 11, 2026), checked October 19, 2026.
3. Cash App, Banking, checked October 19, 2026.
4. Cash App, Direct deposit, checked October 19, 2026.
5. Cash App, Security, checked October 19, 2026.
6. FDIC BankFind, Square Financial Services, Inc. (cert 59177), checked October 19, 2026.
7. Block, Inc., Form 10-K for 2025 (SEC), checked October 19, 2026.
8. CFPB, Enforcement action: Block, Inc., checked October 19, 2026.
9. CSBS, State regulators issue $80 million penalty to Block, Inc., checked October 19, 2026.
10. New York DFS, $40 million penalty on Block, Inc. (April 10, 2025), checked October 19, 2026.
11. FDIC, consent order with Sutton Bank (FDIC-23-0110b), checked October 19, 2026.

Head-to-head comparisons

• Cash App vs Chime

This review is general information, not financial advice. APYs are variable and can change at any time. FDIC insurance protects deposits if an insured bank fails; it does not protect against the failure of a non-bank app company, which is why we name the bank that holds your money.