Cash App
Cash App
Cash App has over 58 million users and integrates the Lightning Network, with zero fees on BTC purchases above $2,000 and Cash Boost of 5-15%. It is available only in the US and supports Bitcoin plus the USDC stablecoin (since 2026), with no broad altcoin trading.
Data & conditions
| Account fee | Free |
|---|---|
| IBAN | condiviso |
| Multi-currency | No (single currency) |
| Outbound transfers to third-party IBANs | Yes |
| Utility direct billing | No |
| SEPA direct debit (SDD) | No |
| On-chain crypto withdrawal | Yes |
| Interest on balance | 3.25% |
| ATM withdrawal | not declared |
| Fund custody | Custodial (platform holds funds) |
| KYC | Full |
| Supported countries | US · 1+ countries |
| Regulator | FinCEN / OCC / SEC |
| OAM Italy registration | No |
| Segment | B2C |
| MiCA / License status | Money Transmitter + Banking partner (Wells Fargo, Sutton Bank) |
Plans & pricing
Strengths
- 58M+ users; Lightning Network; 0% fee BTC >$2.000; Cash Boost 5-15%.
- No notable sovereignty advantage documented.
Weaknesses
- US only; BTC + USDC stablecoin only (no broad altcoins).
- Custodial: the platform holds your funds and can freeze or lose them.
- Full KYC required: verified identity, zero pseudonymity.
Verdict
The A rating is justified by a huge base (58M+ users), FinCEN/OCC/SEC regulation and a polished Bitcoin experience, with zero fees on BTC purchases above $2,000 and a 5-15% Cash Boost. The consumer limit is geographic: the service is US-only and not usable from Italy.
Lightning integration and a Bitcoin focus bring Cash App closer to crypto culture than a generalist neobank, but it stays a custodial wallet with full KYC: the user holds no keys and Block can freeze the account. A good on-ramp, not sovereign infrastructure.
Promp's editorial rating based on real fees and net annual cost. Promp reviews third-party products independently.
"Sovereignty" rating: score computed on privacy/anonymity (30%), fund control (20%), censorship resistance (20%), trustless/auditability (20%) and costs (10%). Same data, different weights.
FAQ
Is Cash App a real bank?
Cash App is not a bank: the Cash Card is issued by Sutton Bank and Savings balances are covered by FDIC pass-through insurance up to $250k through Wells Fargo, N.A.
Can I send money to third-party bank accounts with Cash App?
Yes, Cash App allows outgoing transfers to third-party US bank accounts via ACH (routing + account number, not IBAN).
Does Cash App support direct debits and utility billing?
SEPA direct debit (SDD): not documented. Utility-bill domiciliation: not documented.
Which fiat currencies does Cash App support?
The number of supported fiat currencies is not documented. Multi-currency accounts: not supported.
Can I withdraw crypto on-chain from Cash App?
Yes, Cash App allows on-chain withdrawal of crypto to an external wallet.
Sources
- Official service page Plans & pricing · Regulatory framework · Interest on balance · Faq.garanzia depositi fdic wells fargo · +2 Data verified on Jul 22, 2026
- investors.block.xyz Founded · Stock ticker Data verified on Jul 16, 2026
- bitbo.io Data verified on Jun 15, 2026
- clsbluesky.law.columbia.edu Valuation · Latest funding round · Investors Data verified on Jun 15, 2026
Show 6 more sources
- coindesk.com Supported stablecoins Data verified on Jun 15, 2026
- block.xyz Issuer Data verified on Jun 14, 2026
- chartsview.co.uk Issuer Data verified on Jun 14, 2026
- consumerfinance.gov Regulatory framework Data verified on Jun 14, 2026
- investopedia.com Company profile · Issuer Data verified on Jun 14, 2026
- trustpilot.com Trust & safety Data verified on Jun 14, 2026