Did you know Cash App is big for sending money in the US but not so much for sending money abroad? It only works with the US and UK1. This makes Cash App stand out in the digital wallet world. It’s key to know what it can and can’t do if you’re sending money across borders.
Cash App is mainly for sending money within the US but has a special feature for sending money to the UK. You need an account in both places to send money2. It makes sending money easy by using the current exchange rate at the time of sending3. This makes it a good choice for those often sending money between the US and UK.
Even though Cash App can’t compete with PayPal’s wide reach, it has its perks3. For example, it doesn’t charge extra for converting money or for sending USD to GBP, which could save you money2.
Key Takeaways
- Cash App supports international transfers only between the US and UK
- Users need Cash App accounts in both countries for cross-border payments
- Automatic currency conversion is based on the mid-market exchange rate
- No fees for standard USD-GBP transfers through Cash App
- Limited international reach compared to other global payment services
Understanding Cash App’s International Capabilities
Cash App started in 2013 by Block Inc. It’s now a top choice for sending money between friends. It works in the U.S. and the U.K., offering many financial services4.
Cash App’s Availability in Different Countries
Cash App is only in the United States and the United Kingdom. This means it’s not great for sending money worldwide or exchanging currencies. People outside these countries can’t use the app’s features, like investing for those 13 and older45.
Limitations of Cash App for Global Transactions
Cash App is good for sending money within the U.S. and U.K. But, it can’t send money to other countries. This is a problem for those who often send money across borders or exchange currencies.
Cash App’s UK-US Transfer Feature
Cash App has a special feature for sending money between the U.K. and the U.S. Money sent this way goes straight to the recipient’s local currency. The app uses real exchange rates. But, remember, there’s a 3% fee for using a credit card and up to 1.75% for instant bank transfers45.
| Feature | Availability | Cost |
|---|---|---|
| Domestic Transfers | US and UK | Free |
| UK-US Transfers | Between US and UK | Exchange rate applies |
| Credit Card Transactions | US and UK | 3% fee |
| Instant Bank Transfers | US and UK | 0.50% – 1.75% fee |
Even with its limits, Cash App is a favorite for digital wallets in the U.S. and U.K. 26% of U.S. adults use it4.
CashApp for International Money Transfers: Features and Limitations
Cash App is a top choice for mobile wallets, especially for sending money across borders. It’s cheaper than banks for international transfers, costing about $6.42 per transfer6. This has attracted over 20 million users each year, thanks to its easy-to-use design for sending money abroad6.
Transfers with Cash App usually take 1-3 business days67. For faster transfers, there’s a fee of 0.50% to 1.75% of the amount, with a $0.25 minimum7. This speed and flexibility have helped 70% of small businesses improve their international payments6.
But, Cash App has some limits. It mainly works for US to UK transfers, limiting its global use. The app uses the mid-market exchange rate, but remember, exchange rates can change.
| Feature | Detail |
|---|---|
| Transfer Fee | $6.42 (average) |
| Transfer Time | 1-3 business days |
| Instant Transfer Fee | 0.50% – 1.75% |
| Countries Supported | US and UK |
Cash App also lets you invest in stocks and Bitcoin without commission fees, making it useful for more than just sending money abroad78. But, buying and selling Bitcoin can still have fees7.
Cash App Debit Card for International Use
The Cash App debit card, known as Cash Card, makes international transactions easy. It’s a Visa-backed card accepted in most countries where Visa is used. This card broadens your payment options when you’re abroad.
Countries Where Cash Card is Accepted
Cash Card users can shop and travel worldwide, except in sanctioned countries. The card uses NFC technology for contactless payments in stores and on public transport globally9. You can also add your Cash Card to Apple Pay or Google Pay for easy use9.
International Transaction Fees
The Cash Card has a great fee policy for international use. Cash App doesn’t charge extra for foreign transactions. This can save money for travelers making purchases abroad.
| Transaction Type | Fee |
|---|---|
| International purchases | No fee |
| Currency conversion | ~1% of transaction amount10 |
| ATM withdrawal | $2.50 (plus ATM owner fees)10 |
ATM Withdrawals Abroad
Cash Card users can get cash from ATMs abroad. Cash App charges a $2.50 fee per withdrawal, and ATMs might add more fees10. Always check the fees before you make a transaction. To save money, set a direct deposit limit of $300 for free withdrawals10.
Cash App mainly helps users in the U.S., but its Cash Card lets you spend globally. Tell Cash App about your travel plans to avoid blocked transactions and enjoy your Cash Card abroad11.
Setting Up Cash App for Cross-Border Payments
Setting up Cash App for sending money across borders is easy, but it’s only for US to UK transfers12. First, make sure you have a verified Cash App account in both countries. This is key for making payments between countries with this digital wallet.
Next, link your bank account or debit card to send money. Cash App charges a 1.5% fee for quick transfers to bank accounts or debit cards. Instant deposits to debit cards cost between 0.5% to 1.75%12. New users face initial sending and receiving limits of $1,000 per 30 days13.
To start a transfer, pick your recipient in another country and set the amount. Cash App will convert the currency for you. It uses encryption and fraud protection, with one-time-use codes for extra security13. While Cash App is great for US-UK transfers, consider Wise or Xe Money Transfer for more global options. They support many currencies and countries1213.
FAQ
Can Cash App be used for international money transfers?
Cash App can only be used for sending money between the United States and the United Kingdom. You need verified accounts in both places for international transfers.
What countries is Cash App available in?
Cash App is available in the United States and the United Kingdom. It doesn’t work in most of Europe or Mexico, among other countries.
How does Cash App handle currency exchange for international transfers?
When sending money from the US to the UK, Cash App uses the current exchange rate. This rate is set at the start of the transaction.
Are there any fees for international transfers on Cash App?
There are no fees for regular transfers between the US and UK. But, instant transfers to bank accounts or debit cards cost a 1.5% fee.
Can the Cash App debit card (Cash Card) be used internationally?
Yes, the Cash Card works in most countries with Visa, except for sanctioned ones. But, you might face extra fees from ATMs when using it abroad.
How do I set up Cash App for international transfers between the US and UK?
First, make sure you have verified accounts in both the US and UK. Link a bank account or debit card to your accounts. Then, update the app, verify your identity for more transfer limits, and send money to the other country.
Source Links
- https://wise.com/us/blog/does-cash-app-work-internationally
- https://www.monito.com/en/wiki/cash-app-international-money-transfer-alternatives
- https://www.linkedin.com/pulse/does-cash-app-work-internationally-complete-guide-sebastien-onutali-gli6f
- https://time.com/personal-finance/article/what-is-cash-app/
- https://www.nerdwallet.com/article/banking/what-is-cash-app
- https://fxpal.com/guides/cash-app-international-transfer-guide-alternatives/
- https://www.cnbc.com/select/what-is-cash-app/
- https://wise.com/us/blog/how-does-cash-app-work
- https://cash.app/help/14425-cash-app–transit
- https://rates.fm/payment-systems/cash-app-fees-what-you-need-to-know/
- https://wise.com/us/blog/can-you-transfer-money-from-western-union-to-cash-app
- https://currenciap.com/is-cashapp-international/
- https://www.forbes.com/advisor/money-transfer/what-is-cash-app/
