Cash App’s bank partners aren’t directly involved in its investing services. This occurs through Cash App Investing, LLC, a subsidiary company of Cash App. However, recent updates to Cash App’s website and terms of service show few mentions of Lincoln Savings Bank, calling the relationship’s future into question.Ĭash App also offers access to market-traded securities and Bitcoin. Lincoln Savings Bank supports Cash App’s direct deposit feature. Sutton Bank provides services related to the Cash App prepaid debit card (Cash Card) and is by far the more visible bank partner. While Cash App developed and manages the technology behind this product, it outsources core banking functions to its bank partners, Sutton Bank and Lincoln Savings Bank.
It’s a financial technology app developed by Block, Inc., a financial technology company.Ĭash App’s main product is a mobile money management platform that you can use to send and receive money to other people and companies. If you’re curious about how this works in practice, pull up a chair. Its two FDIC-insured partner banks, Sutton Bank and Lincoln Savings Bank, do it all. You might even get your paycheck direct deposited into the app, or more accurately onto your Cash Card debit card.īut Cash App doesn’t handle that stuff itself. This might sound confusing because, after all, you use Cash App to send and receive money. Cash App is not a bank, nor is developed by or sponsored by or anything else “by” a bank.
Props for trying, but “what bank is Cash App” is not the right question to ask.
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