Cash App Review 2025

Cash App, which started out as primarily a money transfer company, offers other financial services now, including the ability to borrow money, buy stocks and save. The savings feature could get you a decent yield, but only if you meet some requirements. If you’re looking for a great high-yield savings account with no strings attached, you can easily find one elsewhere, especially at an online bank.

You can also keep a separate balance in your Cash App to use for debit card purchases, receiving direct deposits and other transactions. We didn’t rate this feature because even though it functions a bit like a checking account, it isn't strictly one.

Cash App isn’t a bank, it's a financial technology company. Money you keep in savings or in your spending balance is only FDIC-insured — through partnering chartered banks — when you meet requirements, such as having the Cash App debit card. To get FDIC insurance without having to keep track of requirements, consider a standard bank, whether online or brick-and-mortar, instead.

Cash App products

Cash App Savings Account

Cash App offers a decent interest rate on the money you keep in savings — but you have to work to get it. Overall, there are three possible rates you can earn.

• None: If you don’t meet any of the requirements, your money will sit there, earning nothing.
• Some: You’ll earn some interest if you get the Cash App debit card, but it isn't a competitive rate.
• The most: You can earn the highest advertised interest rate by meeting the above requirements and attaining what Cash App calls “Green status” by spending at least $500 with your Cash App card per month or depositing at least $300 in qualifying direct deposits per month to the cash balance portion of your account (rather than into the savings portion).

Note that you have to have a personal Cash App account to earn interest, not a business one.

Cash App Cash Balance

We didn’t review or score the Cash App “balance” feature because it’s not strictly a checking account and Cash App doesn’t bill it as one. But, you can keep money in the “cash balance” section, separate from savings. This is where money you receive from family and friends goes, but can also be funded in other ways, such as setting up direct deposit of your paycheck. 

These funds can then be sent, spent (using the Cash App debit card, for example) or withdrawn at an ATM, although Cash App charges a $2.50 ATM fee per transaction, unless you spend $500 with your Cash App Card or deposit $300 in paychecks each month.

Compare the savings option offered by Cash App with those from regular banks. Annual percentage yields (APYs) shown were updated between Dec. 4, 2025 and Dec. 10, 2025.

FDIC insurance only if you meet requirements. Your cash balance and savings will be insured through partnering chartered banks only when you meet requirements like having a Cash App debit card or a sponsored account, in which an eligible parent or guardian sponsored an account for a minor. Whereas at a regular chartered bank, you get FDIC insurance for your deposits without having to do anything. 

Live phone support is available. You can speak with a representative every day from 8 a.m. to 9:30 p.m. ET. You can initiate a chat using the mobile app on a 24/7 basis.

Mobile app experience. Customers can download the bank’s app on both Android and Apple devices. It gets 4.7 and 4.8 stars on Google Play and in the Apple App Store, respectively.

The website is transparent. The rules for Cash App’s savings and other financial products are readily available on its website. That’s good news, since you have to pay attention to these rules to earn interest and get FDIC insurance, among other things. But you can also find checking and savings account offerings elsewhere that have fewer strings attached.