Cash App is one of the most popular peer-to-peer payment financial platforms used by consumers to send, receive money, and trade in Bitcoin and stocks.
However, while the mobile payment app is prominent in the U.S., is it available worldwide? Here’s all you need to know about the presence of the Cash App!
Is Cash App Worldwide in 2023?
Apart from the United States and the United Kingdom, Cash App is not available in other countries in 2023. You can’t make any payments or transfer cash to consumers in other countries using this platform. Cash App only allows domestic transfers; therefore, you must be within the UK or the U.S.
Keep reading to learn more about how far Cash App has spread globally, why it isn’t available in certain countries, and other facts!
Where Is Cash App Available?
Cash App is available in the U.S. and the UK, and you can’t use it beyond these regions.
In the U.S., Cash App only works if both parties are located within the 50 states. Therefore, the app also can’t be used on military bases, in Puerto Rico, or the U.S. Virgin Islands.
While the payment app was established in the U.S., it expanded operations to the UK in 2018.
Therefore, UK residents can also use Cash App to send money or request payments from their friends at no fee.
However, Cash App users can’t transfer payments and money between the two countries; transfers are only available within the borders.
Why Isn’t Cash App Available Internationally?
Like most companies, Cash App doesn’t have enough incentive to expand to other countries as of now.
Additionally, most countries now have mobile payment apps and digital banking services that operate the same way as Cash App; therefore, consumers might already have an alternative.
On the other hand, some countries have restrictive banking policies that make it challenging for financial platforms to set up.
Also, Cash App is not a bank; therefore, it doesn’t have banking licenses in the two countries and relies on partner banks to provide cards and direct deposits.
Unfortunately, this might be challenging in some countries.
Who Can Open a Cash App Account?
Since Cash App is only available in the U.S. and the UK, only residents from these two countries can have an account.
Furthermore, you need to be 18 years old and above and have a mobile phone number from either country to get an account.
Therefore, if you register from another country, Cash App is most likely to check your location and disable your account.
What Are Cash App Fees?
Most Cash App transactions are free and don’t come at a fee. However, the financial platform charges customers for some of them.
For instance, if you want to transfer money from your Cash App account to a linked bank account or debit card using instant deposits, you’ll be charged 0.5%-1.75% of the amount.
Further, when you withdraw money at the ATM using the Cash Card, you’ll be charged a 2% or 2.5% fee on the amount.
Also, Cash App charges a small fee for Bitcoin and stock transactions when you use the app to sell and buy.
Additionally, customers are subject to a 3% charge if they transfer money using a credit card. Therefore, you need to know these fees as you use Cash App in the U.S. and the UK.
What Are Cash App Alternatives Internationally?
Now that Cash App isn’t available worldwide, which other payment apps can consumers use to transfer money to their friends and family members? Let’s look at some of them.
PayPal is just like Cash App because it allows users to send and receive money and make online payments.
Currently, your recipient needs to have a PayPal account for the transaction to be successful.
So far, PayPal has more than 200 million active accounts globally and over 7 million businesses.
With a PayPal account. You can buy goods for free unless it needs currency conversion.
Additionally, there is a 2.9% fee on most card transfers and a 5% fee on international payments.
While Cash App is available in only two countries, PayPal is available in 202 countries globally; therefore, users can use it in more regions for transactions.
Formerly known as TransferWise, Wise is also a popular payment app internationally because of its low fees and fast transfers.
Wise payments are ideal because they are 6 times cheaper than traditional banks and arrive much faster.
Also, Wise has a multi-currency account that you can use to hold and convert 53 currencies, making it ideal for international payments.
These payments use the mid-market exchange rate to lower your fees. Just like Cash App, they have a linked debit card.
Additionally, you can get a Wise international card to withdraw and spend money in more than 200 countries without incurring foreign transaction fees.
World Remit is a fast, safe, and low-cost digital payment service to send money on the go. You can send money to more than 130 countries globally with this service.
With World Remit, you can send cash via a bank transfer, cash pickup, mobile money, or airtime top-up.
To know more, you can also read our posts on whether Cash App is anonymous, whether Cash App is encrypted, and whether Cash App is FDIC insured.
Apart from the United States and the United Kingdom, Cash App isn’t available in other countries in 2022. You can’t make any payments or transfer cash to consumers in other countries using this platform. Cash App only allows domestic transfers.