Cash App is a mobile payment service developed by Square, Inc. that allows users to transfer money to one another using a mobile phone app. The service is only available in the US and the UK. In September of 2021, the service reported 70 million annual transacting users and has generated $1.8 billion in gross profit.
Cash App is an app that allows for direct peer-to-peer payment via your mobile device. Cash App users can get an optional Visa debit card that allows them to use funds from their Cash App account or even withdraw cash from an ATM. You need to have a working bank account tied to your Cash App account to transfer money.
Anyone between the ages of 13 and 18 can get access to expanded Cash App features in the US (including P2P transactions, Cash Card, Direct Deposit, and Boost) with approval from a parent or guardian.
Once the parent or guardian approves the request, they are the legal owner of the 13-17 year old’s account. The customer 13+ is considered an authorized user for the account. The parent or guardian can track activity in monthly statements and close/pause accounts at any time by contacting support
Bitcoin, investing, borrow, check deposit, paper money deposit, and cross-border payments are available only for those who are 18+.
Authorized users will not be able to make Cash Card transactions at merchant types like: Bars, cocktail lounges, discotheques, nightclubs and tavern-drinking places (alcoholic beverages); Package stores – beer, wine and liquor; Cigar stores and stands; Lodging – hotels, motels, resorts; Dating services; Government-owned lottery; Government-licensed casinos (online or internet gambling), horse/dog racing; Bail and bond payments and Car rental.
If the authorized user needs to dispute a payment or transaction, either the authorized user or the account owner can reach out to support and open a dispute claim.
Community Response: That’s cool. My granddaughters will probably want one when they find out. I could put their allowance on it instead of giving them cash every week.
Are 13+ allowed to buy BTC and stocks on Cash App? They’ll need to be 18+ for those features.
Great way for this Nana to send Birthday, report card, Christmas, money to my grandchildren.
The realization just hit me that my baby cousin who I practically raised is 13 and can now get his own cashapp.
Negative Community Response: Don’t use it. People can easily hack your cash app and they will do nothing to assist in getting your money back.
Get the latest Crypto & Blockchain News in your inbox.