What Bank is Cash App? FDIC Partner Banks Revealed

By Robert Courtneidge 12 Min Read

What bank is Cash App? Cash App is not a bank as such, it’s a product of financial technology, or fintech, through and through. Despite the apparent confusion, since Cash App is primarily used for money transfers, receiving direct deposit paychecks, and even managing a Cash Card debit card, it does not independently conduct these services. Cash App relies on its two FDIC-insured partner banks, Sutton Bank and Lincoln Savings Bank, for these services. While Lincoln Savings Bank is a full-service Central and Northeast Iowa bank, Sutton Bank operates in the State of Ohio.

What bank is Cash App?

what bank is Cash App

Cash App is not a bank in its own right. Rather, it is a fintech platform created by Block, Inc., a leading fintech firm. Primarily, Cash App is a digital wallet that allows you to send and receive funds from other individuals and businesses. Although Cash App is the brainchild of its developers, it delegates essential banking operations to Sutton Bank and Lincoln Savings Bank, its bank partners.

Sutton Bank is primarily responsible for services related to the Cash App prepaid debit card, known as the Cash Card, making it the more prominent partner. On the other hand, Lincoln Savings Bank facilitates Cash App’s direct deposit services. Nonetheless, recent revisions to Cash App’s policies and website does not mention Lincoln Savings Bank frequently, leading to speculation about the future of this partnership.

Through Cash App Investing, LLC, a subsidiary of Cash App, the platform also provides access to market-traded securities and Bitcoin. Notably, these services do not involve Cash App’s bank partners.

Cash App for Direct Deposit

Although Cash App’s bank partners largely operate behind the scenes, there are instances where you’ll need to know your bank partner and associated account and routing numbers:

  • Setting up direct deposits from your employer or benefits provider
  • Arranging regular or one-off bill payments
  • Issuing e-checks (if the payee does not accept Cash App payments)
  • Linking your external bank to your Cash App (though this can also be done within the Cash App)

To know your Cash App bank name, account, and routing numbers, follow these steps two methods:

1. Use your account and routing number

  • 1. Open your Cash App and navigate to the Money tab on the home screen.
    2. Locate the section below your balance that displays your routing and account numbers.
    3. Tap on the routing and account numbers to copy them to your device’s clipboard.
    4. When prompted to provide a bank account during the direct deposit setup, enter the copied account and routing numbers.

2. Obtain a direct deposit form

  • Launch the Cash App and go to the Money tab on the home screen.
  • Select the option for Direct Deposit.
  • Choose the “Get Direct Deposit Form” option.
  • Fill out the required fields, including your employer information and the desired amount to be deposited from each paycheck. Don’t forget to provide your signature.
  • To send the form, select the “Email Form” option and enter the recipient’s email address. Then, tap send.
  • You can access your completed direct deposit form anytime by going to the Money tab, selecting “Get Direct Deposit Form,” and choosing “View Previous Form.”

You can navigate to the Banking tab in the app to find your numbers beneath your current balance. If they are partially hidden, click them to reveal the full string.

You know now that Cash App is a financial technology platform, not a bank. And that Cash App works with trusted banking partners to provide core financial services like a debit card and direct deposit services.

Do you need a bank account to use Cash App?

Although Cash App is not a bank, you do not need a bank account to use Cash App. The app functions properly without the need for a linked bank account. However, to access your Cash App balance, especially for transactions, you need a Cash Card. The Cash Card is free and does not require a credit check.

So, can you withdraw money from Cash App without a bank account? Though you can, it will be through unconventional methods. Below are common ways to get your Cash App funds if you have  not linked your bank account:

1. Buy stuff with your Cash Card

The simplest way to withdraw money from Cash App without a linked bank account is to use your Cash Card for regular purchases in stores. The Cash Card is accepted wherever Visa is and can be used like any other debit or credit card. However, it does not have overdraft protection, so your spending is limited to your current balance. You can even buy gas at supported gas stations without your Cash Card.

If you use your Cash Card at a vendor offering cash back on debit card transactions, you can select the “cash back” option at the checkout and specify the amount you want. This amount will be included in the total transaction cost. Ensure your Cash Card balance exceeds the total cost; otherwise, the entire transaction will be declined.

2. Transfer your funds to another Cash App user

If you don’t have a Cash Card or wish to access your Cash App funds without a Cash Card purchase, you’ll need to transfer the money to another Cash App user who can then withdraw the cash for you. Only do this with someone you trust, such as your friend or family member. They will need to withdraw the cash from their bank for you or send it to your traditional bank account.

Is Cash App safe to use?

If you’re new to Cash App, you are probably wondering about the security of Cash App and your funds. Especially since Cash App is not a bank.

Firstly, your Cash App activities are only visible to you. Millions of payments are safely handled on the Cash App platform each month. They are built on a secure system and incorporate advanced security features to protect your personal information and all transactions.  Cash App runs on top-tier encryption and fraud detection technology to protect users’ data and funds. The information you provide is securely encrypted and transmitted to their servers, whether you’re using public or private WiFi or data service.

Regarding the FDIC insurance, your balance in your Cash App account, provided you have a Cash Card, is insured by the FDIC via its partner banks using “pass-through” insurance in case of a bank failure. The FDIC covers eligible accounts up to $250,000 per Cash App customer. However, note that Bitcoin and investing balances are not covered by FDIC insurance.

Generally, the FDIC does not cover losses due to fraud. This insurance covers deposits by institution, meaning your funds are protected up to $250,000 in the event of your bank’s failure. They do not provide insurance coverage for individual transactions.

Meanwhile, if you suspect that Cash App is taking your money, we have explained the possibilities you need to know. It’s usually not Cash App taking your funds without your permission.

Is Cash App free to send and receive money?

Primarily, Cash App is free. You can download the app and set up an account without any cost. It allows you to deposit money and transfer/receive funds from other Cash App users without a fee. Nonetheless, charges apply for instant transfers as opposed to waiting for a few days for the funds. Additional fees are levied for ATM withdrawals and Bitcoin investments. Cash App funds sent internationally to either the UK or EU are converted according to the mid-market exchange rate immediately and funded in the local currency without extra charge.

However, Cash App has limits, especially if you have an unverified account. To remove limits, you have to verify your account with your valid ID (such as a driver’s license), full name, the last 4 digits of your Social Security number, and your date of birth.

If your Cash App account is unverified, your transfer limit is up to $250 within a week and up to $1,000 over a month. However, these limits are increased for verified accounts. Post-verification, you can send up to $7,500 over a month, and there is no cap on the amount you can receive.

Is Cash App FDIC insured?

Only the funds linked with the Cash App cards are FDIC-insured, courtesy of its partner banks. The funds merely stored in Cash App are not FDIC-insured.

What bank does Cash App use for Plaid?

As of now, Cash App utilizes the services of Lincoln Bank for Plaid users, although this can be subject to change.

Conclusion – what bank is Cash App?

While Cash App isn’t a bank itself, it collaborates with multiple banks to provide banking services through the app. You can promptly transfer funds to other Cash App users or utilize the Cash App card like any standard Visa debit card. As with any financial decision, practice prudence, refrain from sharing your credentials, and stay abreast of the changing banking information used by Cash App to ensure you always know the location of your funds.

Read also: Send Cash App funds to Venmo in simple steps


  1. Bank the Way You Want. Cash App
  2. Qapital, Acorns, and M1 Support. Lincoln Savings Bank
  3. Direct Deposit Account & Routing Numbers. Lincoln Savings Bank
  4. Cash App (Square). Sutton Bank

Read also: Direct Express to Cash Transfer explained

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Independant Industry Expert in Payments and the Digital Future of Money, Co-Editor of The PAYTECH Book, top Payments Lawyer and voted No. 1 in Payments Power 10 at #PayExpo What do I do? I solve the problem of moving payments firms into the new era of money. Traditional financial services businesses risk getting left behind as Generation Z leapfrogs the banks, opting instead for big techs, challengers, and social commerce propositions. Ignoring blockchain technology and the widening knowledge gap between the financial services and digital sectors puts businesses at risk of falling behind their competitors, compromising their competitive edge, and ultimately becoming redundant.
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