What Bank Is Cash App? (2024)

Cash App, a financial services platform developed by Square, Inc.. Cash App partners with two FDIC-insured banks such as: Lincoln Savings Bank and Sutton Bank, to provide users with banking functionalities such as debit cards, direct deposit, and bill pay. Although Cash App itself isn't a traditional bank, these partnerships enable it to offer a range of services, allowing users to send and receive money, invest in stocks and Bitcoin, and use a linked debit card called the Cash Card. The app's simplicity and convenience have contributed to its growing popularity.

Key Takeaways

• Cash App partners with Lincoln Savings Bank and Sutton Bank to provide its services
• Sutton Bank issues the Cash Card and other banking services
• Lincoln Savings Bank handles direct deposits and provides FDIC insurance
• Wells Fargo Bank assists with the Cash Card and FDIC insurance
• Cash App is not a traditional checking or savings account

What is Cash App?

Cash App is a peer-to-peer (P2P) payment app that allows users to send and receive money, invest in stocks and cryptocurrencies, and even get a debit card (Cash Card) linked to their account. The app is available for both iOS and Android devices and has gained popularity due to its simplicity and ease of use.

How Does Cash App Work?

To use Cash App, users must first download the app and create an account. They can then link their bank account, debit card, or credit card to fund their Cash App balance. Users can send money to others by entering their $Cashtag, phone number, or email address. Recipients can then choose to keep the money in their Cash App account or transfer it to their linked bank account.

What Bank Is Cash App?

Cash App is not a bank itself; instead, it partners with several banks to provide its services. These bank partnerships enable Cash App to offer features like the Cash Card, direct deposits, and FDIC insurance. The three main banks that Cash App works with are:

1. Sutton Bank: Sutton Bank is responsible for issuing the Cash Card, a Visa debit card that allows users to spend their Cash App balance at any merchant that accepts Visa. Sutton Bank also provides other banking services to Cash App users.
2. Lincoln Savings Bank: Lincoln Savings Bank handles direct deposits for Cash App users. When a user sets up direct deposit, their employer sends the funds to Lincoln Savings Bank, which then deposits the money into the user's Cash App account. Additionally, if a user has a Cash Card, their funds are FDIC-insured through Lincoln Savings Bank.

Bank Address

• Lincoln Savings Bank: This bank handles direct deposits and ACH transfers for Cash App users. Their address is 508 Main St, Reinbeck, IA 50669.
• Sutton Bank: This bank issues the Cash Card, the debit card you can use with Cash App. They are located at 1 S Main St, Attica, OH 44807.

What is Cash App Bank Name and Address

Cash App is partnered with Lincoln Savings Bank and Sutton Bank for banking services.

Sutton Bank

• Full bank name: Sutton Bank
• Bank address: 1 S Main St, Attica, OH 44807
• Routing number: 041215663
• Account type: Checking
• Number of branches: 8
• Total assets: ~$2.25 billion
• Phone number: (800) 422-3641
• Website: https://www.suttonbank.com/

Lincoln Savings Bank

• Full bank name: Lincoln Savings Bank
• Bank address: 508 Main Strееt Rеinbеck, IA 50669
• Routing number: 073905527
• Account type: Checking
• Number of branches: 16
• Assets: ~$1.89 billion
• Phone number: (800) 588-7551
• Website: https://www.mylsb.com/

How to Find Cash App Bank Information

Here's how to find your Cash App bank information:

On the Cash App:

1. Open the Cash App and tap the Money tab (depicted as a bank building or your balance).
2. Look for the Account & Routing option below your balance.
3. Tap on Account & Routing.
4. You'll see your Routing Number and Account Number displayed. You can also copy them for easy pasting.

On a computer:

1. Log in to your Cash App account at [cash.app/account].
2. Click on Money on the left side menu.
3. Click on Account Details on the left.
4. Click Show to see your full information. Enter your PIN if prompted.
5. Your Routing Number and Account Number will be displayed.

Remember, sharing your bank information, including your Cash App routing and account number, should be done with caution. Only share it with trusted sources and be aware of potential scams.

What Bank Is Cash App On Plaid

Cash App uses Lincoln Savings Bank to connect with Plaid, a financial service that links your bank account to Cash App securely. This way, you don't directly share your bank login details with Cash App.

How to Use Cash App

Using Cash App is simple and intuitive. Here are some of the main features and how to use them:

Signing Up:

1. Download the Cash App from the App Store or Google Play.
2. Open the app and enter your phone number or email address.
3. Verify your account with the code sent to your phone or email.
4. Enter your name, date of birth, and SSN for full functionality.
5. Link a debit card to your account (optional).
6. Choose a unique username called a "cashtag".
7. Enter the amount you want to send or receive.
8. Tap "Pay" to send or "Request" to receive.
9. Enter the recipient's phone number, email address, or $cashtag.
10. Add a note (optional).
11. Confirm the transaction.

Sending Money

1. Open the Cash App and tap the "$" icon.
2. Enter the amount you wish to send.
3. Tap "Pay."
4. Enter the recipient's $Cashtag, phone number, or email address.
5. Add a note (optional) and tap "Pay."

Requesting Money

1. Open the Cash App and tap the "$" icon.
2. Enter the amount you wish to request.
3. Tap "Request."
4. Enter the person's $Cashtag, phone number, or email address.
5. Add a note (optional) and tap "Request."

Investing

1. Open the Cash App and tap the investing icon (graph).
2. Choose to invest in stocks or bitcoin.
3. Search for the stock or cryptocurrency you want to invest in.
4. Enter the amount you wish to invest.
5. Confirm your purchase.

Is Cash App Safe?

Cash App takes security seriously and employs several measures to protect users' funds and personal information. Some of these measures include:

• Encryption of all data transmitted through the app.
• Touch ID, PIN, or fingerprint authentication for added security.
• Fraud detection and prevention systems.
• FDIC insurance on funds held in Cash App accounts.

Despite these security measures, users should always be cautious when sending money and never share their login credentials with anyone.

Is Cash App Worth It?

Whether Cash App is worth it depends on your individual needs and preferences. The app offers a convenient way to send and receive money, pay bills, and even invest in stocks and cryptocurrencies. It also comes with a free debit card (Cash Card) that allows users to spend their Cash App balance anywhere Visa is accepted. However, Cash App does charge fees for certain transactions, such as instant deposits and cryptocurrency purchases.

Is Cash App a Checking or Savings Account?

Cash App is not a traditional checking or savings account, but rather a prepaid account. While it offers many features similar to a checking account, such as direct deposit and a debit card, it does not have all the functionalities of a full-fledged bank account. For example, Cash App does not offer interest on funds held in the account or the ability to write checks.

Conclusion

In conclusion, Cash App is not a bank itself but rather partners with Sutton Bank, Lincoln Savings Bank, and Wells Fargo Bank to offer its services. These partnerships enable Cash App to provide features like the Cash Card, direct deposits, and FDIC insurance. By understanding how Cash App works and its banking partnerships, users can make informed decisions about managing their money on the platform. Cash App is a financial platform providing services through its bank partners, Lincoln Savings Bank and Sutton Bank. It also offers investing services through Cash App Investing LLC, which is a registered broker-dealer and a Financial Industry Regulatory Authority (FINRA) member.

Frequently Asked Questions (FAQ)

Can I use Cash App without a bank account?

Yes, you can use Cash App without linking a bank account. However, you will need to link a debit card to add funds to your Cash App balance. Alternatively, you can receive money from others through the app.

How do I deposit money into my Cash App account?

There are several ways to deposit money into your Cash App account:

1. Link a bank account and transfer funds.
2. Link a debit card and add funds instantly.
3. Receive money from others through the app.
4. Set up direct deposit with your employer.

Can I use my Cash App balance to make purchases?

Yes, if you have a Cash Card, you can use your Cash App balance to make purchases anywhere that accepts Visa debit cards. You can also use your Cash App balance to send money to others or withdraw funds to your linked bank account.

Which bank does Cash App use?

Cash App uses different partners depending on the service. For transactions processing, they primarily rely on:

1. Sutton Bank: Holds the funds associated with your Cash App balance.
2. Lincoln Savings Bank: Also involved in processing transactions.

Is Cash App a Sutton Bank?

No, Cash App is a separate financial service company. Sutton Bank acts as a partner bank, holding your Cash App funds.

What bank is Cash App on Plaid?

Cash App doesn't have its own bank on Plaid. Instead, Plaid connects Cash App to your personal bank account, allowing you to transfer money between them.

Which country is Cash App's bank?

Cash App's partner banks, Sutton Bank and Lincoln Savings Bank, are both located in the United States.

Is Cash App a USA bank?

No, Cash App is not a bank itself. It's a financial services app available in the US and the UK, partnering with banks to provide some banking features.

Which country uses Cash App the most?

Cash App is currently only available in the United States and the United Kingdom.

What is Cash App's bank name and address?

As mentioned earlier, Cash App is not a bank but a financial service. They partner with multiple banks, and the specific bank involved may vary depending on the service and your location. Therefore, Cash App itself doesn't have a single bank name and address.