8 Surprising Ways Cash App Can Be Used to Help With Your Finances (Other Than for Payments)

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You might think of Cash App as an app that just helps you send and receive payments, but it is much more than that. In fact, Cash App has several “hidden” features you might not even know are there. 

Here are eight ways you might not know that Cash App can help you manage your finances.

Investing in Stocks and ETFs

Cash App has an investing feature that lets you purchase stocks and exchange-traded funds right in the app. You can invest with as little as $1, including with fractional shares of your favorite companies.

To begin, simply tap “Stocks” on the home screen. From there, tap the “Buy Stocks” button to immediately start investing in any of the hundreds of available stocks and ETFs, or scroll down to access helpful resources like lists of most-traded stocks and daily movers.

The platform offers educational materials, including a book for novice investors, to help you pick stocks and ETFs and execute your trades. 

Transacting With Bitcoin

Bitcoin is sweeping through the financial market, and Cash App is an easy way to get in on the action. Its home-screen tab labeled “Bitcoin” allows you to buy, sell and transfer the cryptocurrency. 

With Cash App, you can buy bitcoin with no minimum investment. You can even schedule automatic purchases from your Cash App balance. While Cash App charges up to 3% to buy or sell bitcoin, transfers between Cash App users are free. 

Earning Cash App Card Discounts

The Cash App Card is a debit card that lets you make payments directly from your Cash App balance. One of the card’s benefits is that it earns you discounts at select stores and restaurants.

The best part of these “boosts” is that they’re customizable. You can choose the discounts you want to use, then swap them for others whenever you want. Recent offers have included 15% off Temu in-app orders and 5% off one Starbucks order.

Direct Depositing Funds

You can receive your paychecks, tax returns and benefit checks as direct deposits directly into your Cash App account via Cash App’s partner bank, Wells Fargo. From the Money tab at the top of your home screen — the section that shows your cash balance — select the “Account & Routing” link and follow the prompts to set up direct deposit. A Cash App Card is required for direct deposit. If you don’t already have a Cash App Card, the app will prompt you to order one.

The benefit here is that you get your paychecks up to two days early, with no waiting for bank transfers.

Free ATM Withdrawals With Direct Deposit

You might not know that Cash App has free unlimited ATM withdrawals for eligible users. To qualify, just set up $300 or more per month in direct deposits. Cash App users who don’t have qualifying direct deposits pay $2.50 per ATM withdrawal.

Effortless Savings With Interest

It is not always easy to save for the future, but Cash App simplifies the process by offering an interest-bearing savings account through a partner bank. Account balances currently earn 4.5% interest with $300 in qualifying direct deposits each month and 1.5% without.

You can start with $1, and there are no fees for opening or maintaining the account.

You’ll need a Cash App Card to get started. Once you’ve got your card, tap “Savings” on the home Cash App screen and follow the prompts to open and fund your account.

Financial Tracking and Budgeting

Another useful feature of Cash App is the transaction history, which doubles as budgeting tool. By monitoring your spending in the app, you can easily track where your money goes.

This level of insight lets you evaluate your spending and budget your money appropriately. 

Managing Business Transactions

Cash App provides a way for business owners to manage their money easily and quickly, while keeping their personal finances and business finances separate.

Cash App charges a 2.75% processing fee for customer payments to business accounts. That’s less than some competing payment processor fees, including PayPal’s, which is 2.99%.

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