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Is Cash App a bank?

Cash App is not a bank. So, if Cash App isn’t a bank, how does it operate so similar to one? It provides a bank account, with a routing and account number, and even a savings account. You can accept ACH transfers. Not only that, but the money you add to Cash App is FDIC-insured if you have a Cash Card!

How does Cash App work?

First, we need to explain how Cash App works. Cash App is not a bank. So, if Cash App isn’t a bank, how does it operate so similar to one? It provides a bank account, with a routing and account number, and even a savings account. You can accept ACH transfers.

Does Cash App use different banking partners?

Cash App will usually use different banking partners for different services. Sutton Bank is supposed to take care of issuing the Cash Card and most other banking services. Meanwhile, Lincoln Savings Bank handles other banking services. That said, it seems different banks handle some processes for different people.

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