ReallyNeedCash - Beginner's Guide to Cash App & NetSpend

Menu
  • Home
  • Cash App
  • Netspend
  • About
  • Disclaimer
  • Privacy Policy

Does Cash App Count as a Bank Account? Cash App Bank Info

June 15, 2022

Bank accounts come in many forms, from savings accounts to brokerage accounts. These bank accounts allow you to open a business, get hired for a job, and regulate your money.

But what if you don’t have a “real” bank account? Does Cash App count as a bank account? 

Cash App isn’t a bank; it’s an online financial platform that lets you send and receive money. The app itself doesn’t act as a physical bank account. However, Cash App provides debit cards issued by the company’s partners that can be used as a bank account. 

If you’re planning to use Cash App as your bank account, read on. We’ll show you how to issue a Cash App Debit Card and shed light on the fees associated with it. 

RELATED READ: Is Cash App a Checking or Savings Account?

Does Cash App Count as a Bank Account

Does Cash App Count as a Bank Account?

In itself, Cash App doesn’t count as a bank account. 

The funds you have in your Cash app aren’t insured by the FDIC (Federal Deposit Insurance Corp) in the same way as a traditional bank account. 

You can use the app to pay for services online, send money, and receive money, but you can’t use it to withdraw money from an ATM. 

To do that, you need to transfer your Cash App funds to a linked debit card, which you can then withdraw within 24 to 48 hours. `

The only way you can use Cash App as your bank account is to issue a Cash Card Visa Debit. 

What Is a Cash Card? 

The Cash Card is a Visa debit card issued by the Cash App company. 

It can be used to pay for goods and services in-store and online from your Cash App balance. 

You can use it to withdraw cash directly from the ATM without having to go through the hassle of transferring the funds into another account. It has its own Permanent Account Number (PAN), Card Verification Value (CVV), and expiry date. 

The Cash Card is completely free. As long as you’ve verified your identity using your full name, date of birth, mailing address, and the last four digits of your Social Security Number (SSN), you can request a card from the company. 

You can then use this card as your personal bank account. 

What Are the Benefits of a Cash Card? 

The Cash Card works exactly like a debit card, with its own PAN, CVV, and expiry date. It’s not linked to your personal debit card, and thus can be used as a separate direct debit.

This card has a few benefits that most people won’t find on a traditional bank-issued debit card, like customizable cash “boosts.”   

Cash Card Boosts allow people to save money on a purchase from a particular vendor. You can activate only one Boost at a time, but you can swap them within an hour time frame.

Some of these boosts are as follows: 

  • Anywhere Boost: $30 off from one purchase (one-time use only)
  • Bitcoin Boost: Receive 3% worth of Bitcoin for every three purchases  
  • Chewy Boost: 5% off one order  
  • DoorDash Boost: 10% off one order 
  • GOAT Boost: 5% off one purchase  
  • Any Coffee Shop Boost: $1 off each visit  
  • Shake Shack Boost: 15% off one order  
  • Whataburger Boost: 5% off one purchase  

Note that these boosts are updated on a daily basis. Some are available 24/7, while others are available for a specific time frame only. 

How to Get a Cash App Card?

If you decide to get your very own Cash Card, follow these steps: 

  1. Log into your Cash App account. 
  2. On your home screen, tap on “Cash Card.” 
  3. Select “Get Cash Card” and tap “Continue.”
  4. Verify your account with your full name, date of birth, the last 4 digits of your SSN, and your home/mailing address.  
  5. Tap “Confirm.” 

Upon submitting the Cash Card request, the card should arrive at your home address within 10 business days.  

If it hasn’t arrived within that time, there might have been an error in some of the information you’ve inputted.

Check your email for a follow-up correspondence or contact Cash App customer support directly if this issue occurs. 

Note that you need to be at least 18 years old to apply for the card. 

How to Activate a Cash App Card?

Once you’ve received your Cash App Card in the mail, you’ll have to activate it before using it. 

You can do this in two methods: 

With a QR Code

  1. Log in to Cash App.
  2. Tap the Cash Card option.
  3. Select “Activate Cash Card, then “Activate via QR code.”
  4. Tap OK when prompted to use your phone’s Camera. 
  5. Scan the QR code of the Cash App Card. The QR code is included in your mail. 
  6. Wait for a few seconds for the app to scan the code. 

Without a QR Code 

  1. Log in to Cash App.
  2. Tap the Cash Card option.
  3. Select “Activate Cash Card” but instead of selecting the QR Code option, choose the “Use CVV” option. 
  4. Enter the CVV code on the back of your card, as well as the Card’s expiration date. 

Are There Any Fees or Limits for Using the Cash App Card? 

Like most debit cards, Cash App has its own set of fees and limits. 

For one, the maximum amount that can be spent on your Cash Card is $7,000 per transaction a day and $10,000 per week. You can spend a total of $25,000 only per month. 

It also has its withdrawal limits. You can only withdraw $310 per transaction, $1,000 per 24-hour period, and $1,000 per 7-day period. 

Likewise, there are fees associated with withdrawals, ranging from $2 to $2.50. Cash App will refund you three ATM fees if you’ve withdrawn more than $300 within a 31-day period. 

READ: When Does Cash App Weekly Limit Reset?

Final Thoughts 

Cash App doesn’t work like a bank account. It’s an online payment service that allows you to send or receive money from one Cash App account to another. 

However, Cash App does issue personal Cash Card Visa Debits for free if you’ve verified your account. You can use the Cash Card as a bank account as it has its own long number, CVV, and expiry date. 

Share
Tweet
Reddit
Pinterest
Email
Prev Article
Next Article

About The Author

Laurens Yarpei

I’m Lawrence Yarpei. I have been using Cash App for the past 4 years. In this blog, I help Cash App Users with their Problems and Offer Troubleshoot solutions on everything Cash App-related Problems. Disclaimer: The intention of using trademarks, images, logos, and brand name is for information and referral only and not intended to act as Cash App representatives. We do not provide any service and are not Cash App representatives. This is just an educational blog run by a long-time Cash App user and a lover of the app and its service. Contact Cash App here for your queries: https://cash.app/help

Disclaimer: We do not Provide any Service and is not affiliated with Cash App. To contact Cash App, visit https://cash.app/contact. This Website is purely an educational Blog and don't intend to Infringe any Copyright. Brand names are used for informational and reference purposes only. We fully disclaim the authority of the Brand name and logos. Click the button to refer for usage of trademark for an editorial or informational use: www.nolo.com/legal-encyclopedia/when-you-need-permission-use-trademarks.html

REFER FOR LEGAL ISSUE

Related Post

  • Cash App Bank Name, Address for Direct Deposit: Lincoln & Sutton
    Cash App Bank Name, Address for Direct …
  • Cash App++ APK TweakMod.com: JailBreak Download 2023
    Cash App++ APK TweakMod.com: JailBreak Download 2023
  • How to Add Money to Cash App Card: (Step-By-Step Tutorial)
    How to Add Money to Cash App …

ReallyNeedCash – Beginner's Guide to Cash App & NetSpend

Copyright © 2023 ReallyNeedCash - Beginner's Guide to Cash App & NetSpend
Disclaimer: Some of the editorial content on this website is not provided by Square’s Cash and may not have been reviewed, approved, or otherwise endorsed by these entities. If an error or omission has been made, please feel free to contact us. The intention of using trademarks, images, logos, and brand name is for information and referral. The information provided on the website only for knowledge sharing, although we have done our research on every content provided on the website users must use their own concerns before using the information. Our website has no control over the third-party website’s policy, users must use their concern and will be solely responsible for the damage if happens.

Ad Blocker Detected

Our website is made possible by displaying online advertisements to our visitors. Please consider supporting us by disabling your ad blocker.

Refresh