Cash App offers the following services and features:Money transfers: Users can send and receive money, as well as transfer the money they have in their Cash App account to a linked bank account. Sending and receiving money is free. Standard transfers also charge no fees and take one to three business days to complete. An instant transfer is also an option, but it costs 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 linked to the user’s Cash App balance. Cardholders can use the Cash Card at ATMs for $2 per withdrawal (unless they set up direct deposit) or to make purchases online and in stores.Cash App Pay: Cash App can also serve as a payment method to pay for purchases online or in person at Square Sellers and select merchants.Discounts: Cash Card holders can access Boosts — instant discounts from eligible retailers and restaurants. You can only activate one Boost at a time but can change which one that is without any restrictions.Direct deposit: Users can deposit paychecks and tax returns into their Cash App account.Savings: The app allows users to put money in savings from their linked payment source or Cash App balance without fees or minimum balance requirements. Those with an activated Cash Card can also set up Round Ups for Savings to automatically round up card transactions and add the spare change to the savings balance. Note that the savings feature doesn’t earn any interest, unlike traditional or high-yield savings accounts.Investing: Cash App Investing lets users buy stocks or ETFs using the money in their Cash App account (and a linked debit card if the funds are insufficient for the purchase). Users can also sell the stocks and ETFs they own on Cash App and have the amount of sale added to their app balance. The platform doesn’t charge a commission fee.Bitcoin: Another service Cash App provides is buying, selling, sending and receiving Bitcoin. Sending and receiving Bitcoin is free, but the platform can charge fees for buying and selling. Additionally, users who have set up direct deposit can opt to set aside a percentage of their paycheck in Bitcoin.Tax filing: With Cash App Taxes, users can file their state and federal taxes for free with a maximum refund guarantee.
How does Cash App work?
