Cash App Card Review 2026

What to know about neobanks: Cash App is a digital wallet, but it also can be called a neobank, referring to a nonbank institution for online checking and savings customers. Neobanks differ from banks in important ways that can pose risks, especially related to deposit insurance.

• • Neobanks are third-party platforms that don’t hold your money.

  Customer funds from Cash App (using Cash App Card) and other neobanks are held at partner banks for FDIC insurance. If a partner bank goes bankrupt, neobank customers’ money is protected – as long as the neobank maintains accurate records.

• • If a neobank goes bankrupt, there is no FDIC insurance involved.

  It’s up to the neobank to ensure customers get their money back, which may involve delays and potential loss of account access. Banks, in contrast, receive prompt assistance from the FDIC if they fail. (Learn about what can happen if a neobank closes.)

• • Neobanks often lack some traditional banking services.

  Neobanks tend to offer accounts at low costs and with attractive rates or other features but don’t usually have everything a bank offers. For example, don’t expect in-person customer service, physical checkbooks or certain specialty transactions often for large purchases, such as wire transfers and cashier’s checks.

High app ratings. Cash App’s popularity is reflected in its high ratings on Apple and Android devices. However, there are no separate ratings for its Cash App Card experience.

Daily support available. You can chat with a chatbot or human in the app 24/7, or call a representative between 8 a.m. to 9:30 p.m. ET daily. Cash App provides a mobile-first banking experience and doesn’t have branches.

Things to know:

Money stored in Cash App is only FDIC-insured for Cash App Card customers. Having an app balance or savings balance without getting the card means there’s no FDIC insurance. In other words, using Cash App only as a money transfer app has additional risks.

History of delayed and limited customer support. Cash App’s parent company Block agreed to a settlement with the Consumer Financial Protection Bureau in January 2025. The CFPB stated that Cash App had weak security measures that had caused customers to lose money due to scams, as well as no phone line to reach human support. Since then, Cash App said in a blog post that it has built out its customer support, including a live phone support line, and more security measures. This settlement is not reflected in our ratings.

No overdraft fees. Cash App doesn’t charge a fee if a transaction would make you go negative in your accounts.

Fee-free overdraft coverage for Cash App Green customers. Customers who meet the monthly requirements get up to $200 in fee-free overdraft coverage. The overdraft limit depends on several factors such as account history and activity.

No other overdraft programs. Cash App doesn’t offer overdraft protection transfers between linked checking and savings accounts or an overdraft line of credit.

» Tend to overdraw your account? See our list of the best banks for overdrafts