You can also sign up for an account online. To use Cash App, you must first download the mobile app, available for iOS (4.7 stars out of 5) and Android (4.6 stars out of 5). With this service, Cash App is quickly becoming a one-stop shop for financial services. With Cash App Taxes (formerly Credit Karma Tax), users can file their taxes for no charge. Consumers can also buy, sell or transfer Bitcoin through the app. This is done by buying pieces of stock, called fractional shares. The investing feature allows users to invest in stocks for as little as $1. Through Cash App, users can send and receive money, get a debit card and set up direct deposits. Cash App provides investing services through Cash App Investing LLC, registered with the Securities and Exchange Commission (SEC) as a broker-dealer and a member of the Financial Industry Regulation Authority (FINRA). The balance in your account is insured by the Federal Deposit Insurance Corporation (FDIC) through partner banks. It provides banking services and debit cards through its bank partners. Block, Inc., formerly Square, Inc., launched the app in 2013 (initially named Square Cash) to compete with mobile payment apps like Venmo and PayPal.Ĭash App is a financial platform, not a bank. What Is Cash App?Ĭash App is a P2P payment app that allows individuals to quickly send, receive and invest money. Keep reading for a deeper look into Cash App.
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