Cash App is a mobile payment service that has become one of the most popular means for people in the U.S. and U.K. to send money.

Developed by Block, Inc. (formerly Square) and released in 2013, the app boasts more than 30 million active monthly users as of early 2022. While mobile payment platforms haven't yet gained prominence in retail settings, they've become the go-to for more simple transactions.

Cash App offers an easy solution if you need to split a check at dinner, reimburse a friend for concert tickets, or evenly divide the monthly bills with your roommates. With a handy mobile payment platform, you eliminate those annoying trips to the ATM, and carrying cash becomes far less of a necessity in general.

Product Features

Cash App's most commonly used feature is sending and receiving funds. You can request or transfer money to any other Cash App user; all you need is their verified phone number, email address, or $cashtag (in-app username). Whenever you send money, you can also include an optional message for the recipient.

By securely linking your bank account(s) to the app, you're able to withdraw funds for transfers and deposit any funds you receive. For fraud-protection purposes, unverified users are limited to sending $250 per week and receiving $1,000 per month. When you confirm your name, date of birth, and the last four digits of your social security number, the sending limit is raised to $7,500 per week, and the receiving limit is removed entirely.

Cryptocurrency is growing more and more popular, and you can use Cash App to get in on it by purchasing and selling Bitcoin. That isn't all, though; you can also request and transfer cryptocurrency to other users just like standard funds, and you can even deposit Bitcoin into the app from other sources. Whenever you're ready, it's a simple matter to withdraw the digital currency from your Cash App account and into an external wallet.

If you're in the U.S. and looking to enter the world of stock trading, Cash App has you covered there as well. With a