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Cash App (Block, Inc.)

Cash App (Block, Inc.) Cash App Card + Savings

The P2P giant's checking-adjacent account, with a savings rate gated behind Cash App Green

6.5
Our Rating
APY
None on spending balance; savings pays 1.50% base, 3.25% with Cash App Green ($300/month direct deposit or $500/month card spend)
Monthly Fee
$0
Minimum to Open
None
ATM Access
$2.50 Cash App fee plus operator fee; ATM fees reimbursed (3 per 31 days) with $300+ monthly direct deposits

Insurance: FDIC pass-through only when you have a Cash App Card or sponsored account: spending balance via Wells Fargo Bank, N.A.; savings held at Wells Fargo; card issued by Sutton Bank. No card, no insurance.

Features

  • ▸Account and routing numbers for direct deposit, with paychecks up to 2 days early
  • ▸Savings balance with round-ups and goal setting
  • ▸Cash App Green status unlocks the 3.25% savings rate and ATM fee reimbursements
  • ▸Paper money deposits at retail partners (fees vary by retailer)
  • ▸Instant P2P payments, Bitcoin and stock investing in the same app
  • ▸Free debit card with merchant-funded Boost offers

Pros

  • +Frictionless if your social money flow already lives in Cash App
  • +3.25% savings with an achievable activity gate
  • +Early direct deposit and retail cash deposits included
  • +Investing, Bitcoin, and taxes bundled in one app

Cons

  • −FDIC insurance is conditional: no Cash App Card means no pass-through coverage at all
  • −Spending balance earns nothing and ATM access is fee-laden without direct deposit
  • −Block is not a bank; this is a money-transmitter product with bank partners
  • −Account freezes and support complaints are common at scale

Our Take

Cash App is now a real deposit product, not just a P2P wallet: order the card, route $300 a month of direct deposit, and you get early pay, reimbursed ATMs, and 3.25% on savings through Wells Fargo. But the insurance fine print is the worst on this page, since balances without a card sit uninsured, and the savings rate trails SoFi and OnePay anyway. Use it as a spending satellite, not a primary bank.

Best for: Heavy Cash App users who want their P2P balance to finally earn something

Open at Cash App (Block, Inc.) →

Last verified 2026-06-11

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