Cash App is a mobile payment app that allows you to send and receive money, invest in stocks and Bitcoin, and even file your taxes. It is developed by Block, Inc., formerly known as Square, Inc., a company that provides various digital services and payment solutions. Cash App was launched in 2013 as Square Cash, and has since evolved to offer more features and functionalities to its users. In this article, we will evaluate Cash App’s pros and cons, fees and limits, and customer service.
✅ Pros
Simple, clear, and user-friendly interface and setup
No fees for basic transactions, such as sending and receiving money from friends and family, or using the Cash Card
Ability to buy and sell stocks and Bitcoin with low fees and minimums
Option to file your taxes through Cash App and get your refund faster
Cash Boost feature that offers discounts and cash back at selected merchants and categories
Cash App Banking feature that provides a checking account with a routing and account number, direct deposit, and ATM access
Cash App Card feature that provides a Visa debit card that you can use to pay online or in-store, or withdraw cash from ATMs
Cash App Pay feature that allows you to pay merchants by scanning a QR code or entering a phone number
Cash App Request feature that allows you to request money from anyone, even if they don’t have Cash App
Cash App Giveaway feature that allows you to enter sweepstakes and win prizes by following Cash App on social media
❎ Cons
Low daily and weekly limits for sending and receiving money, buying and selling stocks and Bitcoin, and withdrawing cash from ATMs
Cash App Card is necessary for online purchases, as Cash App does not support other payment methods, such as credit cards or PayPal
Cash App is only available in the US and UK, and does not support international payments or currency conversion
Cash App may have security and privacy issues, such as fraudulent transactions, account verification problems, and data breaches
Cash App has poor customer service, according to many user reviews, and does not offer phone or live chat support
Cash App may have technical glitches, such as delayed or failed transactions, app crashes, or login errors
💰 Fees
Cash App does not charge any fees for sending and receiving money from friends and family, or using the Cash Card
Cash App charges a 3% fee for sending money using a credit card
Cash App charges a 1.5% fee for instant deposits to your bank account
Cash App charges a variable fee for buying and selling Bitcoin, depending on market activity
Cash App charges a 0.5% fee for buying and selling stocks
Cash App does not charge any fees for filing your taxes, but you may have to pay fees to the IRS or your state
Cash App does not charge any fees for using Cash Boost, Cash App Banking, Cash App Pay, Cash App Request, or Cash App Giveaway
🙅 Limits
Cash App has a $250 limit for sending money and a $1,000 limit for receiving money per week, unless you verify your identity with your name, date of birth, and the last four digits of your Social Security number
Cash App has a $2,000 limit for sending money and a $10,000 limit for receiving money per month, unless you verify your identity with your full Social Security number
Cash App has a $10,000 limit for buying Bitcoin and a $5,000 limit for selling Bitcoin per week, and a $100,000 limit for both buying and selling Bitcoin per year
Cash App has a $10,000 limit for buying stocks and a $25,000 limit for selling stocks per week, and a $50,000 limit for both buying and selling stocks per year
Cash App has a $1,000 limit for withdrawing cash from ATMs per day, and a $1,250 limit per week
Cash App has a $7,000 limit for paying merchants with Cash App Pay per week, and a $17,500 limit per month
☎️ Customer Service of Cash App
Cash App has a help center on its website and app, where you can find answers to frequently asked questions, troubleshoot issues, and contact support. You can also reach Cash App support by email at [email protected], or by mail at Cash App, 1455 Market Street Suite 600, San Francisco, CA 94103. However, Cash App does not offer phone or live chat support, and many users have complained about the lack of responsiveness, professionalism, and effectiveness of Cash App’s customer service. Cash App also warns its users to beware of scammers who may impersonate Cash App representatives and ask for personal or financial information, or request payments.
🛎 Conclusion
Cash App is a simple and versatile mobile payment app that offers more than just sending and receiving money. It also allows you to invest in stocks and Bitcoin, file your taxes, get discounts and cash back, and access a checking account and a debit card. However, Cash App also has some drawbacks, such as low limits, security and privacy risks, and poor customer service. Therefore, you should weigh the pros and cons of Cash App before deciding whether to use it or not.
