How CashApp Works and Can It Be Trusted

CashApp is an instant money transfer app owned by Square Inc. It allows users to send, receive money instantly from their bank accounts. CashApp users also have the advantage to avail of a debit card which can be utilized like any other debit card provided by banks.

How does CashApp work?

CashApp was originally launched in 2013 as Square Cash. It is a peer-to-peer payment app that facilitates payments through smartphones. CashApp is available on Android and iOS app stores and offers services similar to Venmo, PayPal, Zelle, Apple Pay, and other payment apps.

When you download the CashApp, you will need to create a unique initial called $cashtag. In order to use CashApp for money transfers, you will need to link your bank account with the app. 

In order to add your bank account with your CashApp account, you will need to:

  • Open CashApp on your device
  • Tap on “Balance” represented by a dollar sign on the Cash App home screen
  • Click on “Add Bank” option
  • Now, follow the instructions that the app provides
  • The next screen will ask you to provide bank account details. Fill in the information carefully.
  • Next, follow the instructions and the app will guide you through the process.

To send money via CashApp:

  • Open CashApp on your device
  • Enter the amount that you want to transfer
  • Tap on “Pay”
  • Enter the phone number, email address, or $cashtag of the person you would like to send money to
  • Enter further details
  • And tap “Pay”

CashApp also allows you to invest in stocks and buy and sell Bitcoins. 

Is CashApp Legitimate?

CashApp is a private and safe way to send and receive money. Unlike Venmo, CashApp does not display its transactions on public social feeds. All of the payment information is encrypted. Moreover, CashApp users also receive a one-time authentication every time they sign into their account. There ware multiple ways of securing Cash App from possible fraud through your card or app.

While there is a request option for CashApp users to request a return in case they send the money to the wrong person, there is no guarantee that the recipient will comply. Therefore, one must verify and double-check the phone number, email address, or $cashtag of the users they are sending money to.

CashApp Fees and Charges

All the transactions done on CashApp using a debit card and bank account are exempt from charges. However, beware that you will have to bear a 3% charge of sending money from your credit card. 

Standard deposits on CashApp take around 1-3 working days to be processed. Users can pay a 1.5 percent fee for an instant deposit to their debit card.