What Bank Does Cash App Use In 2024? [Set Up Direct Deposit]

Updated On: 09/16/2023
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Are you curious about the banking mechanism behind your favorite money transfer app, Cash App? You're surely not alone.

Popular in the US, this peer-to-peer payment app lets you easily send and receive money, leaving many users wondering - what bank does Cash App use? Stick around as we unpack the ins and outs of the system powering your digital transactions.

While providing the convenience of immediate transactions and access to unique features, understanding how Cash App ties into traditional banking can help make your overall experience smoother.

In today's digital age, where financial technologies continuously evolve, staying savvy about how your money moves is essential.

What Bank Does Cash App Use?

Cash App uses Lincoln Savings Bank and Sutton Bank for their direct deposits and issuing their Cash App Visa Debit Cards, respectively. Three major players help maintain the fluidity and safety of transactions at Cash App: Sutton Bank, Lincoln Savings Bank, and Wells Fargo.

What Bank Does Cash App Use?

Sutton Bank

Based in Ohio, Sutton Bank is the official issuing bank for the Cash App Card, often called the “Cash Card."

This direct link between your Cash App account and a network of retailers all across America comes courtesy of Sutton Bank, which provides the routing number associated with all Cash App accounts.

The key function here is to provide a financial bridge that allows you to make purchases using your digital wallet balance at any retail location that accepts Visa - turning this digital money into real-world purchasing power.

Sutton ensures smooth transactions and legitimizes your digital footprints within established banking systems.

Lincoln Savings Bank

Lincoln Savings Bank takes care of an equally important aspect - Direct Deposits. Suppose you have set up Direct Deposit with your employer or benefits provider via Cash App.

In that case, chances are high. You may have noticed on your statement remarks reading ‘payout from [Your Employer/Benefits Provider] LSBNK .’

LSBNK stands for Lincoln Savings Bank. Effective July 2020, Lincoln Savings Bank became responsible for providing banking services for DIG’s customers who have a linked bank account with their name on it. They maintain the ACH direct deposit functionality on behalf of DIG LLC.

Wells Fargo

The heritage-rich Wells Fargo bank plays a central role in underpinning platform security. Specifically responsible for ensuring user balances under its Accounts Receivable Financing Agreement with Square Inc., owner of Cash App.

Wells Fargo understands consumers' need for trust regarding their hard-earned money and supports balances up to $250,000 on the Cash Card.

This level of protection is far beyond most, providing a great sense of security around your digital dollars.

Each bank does its part, whether issuing the Cash Card, facilitating direct deposits or enhancing transactional security.

By working together, Sutton Bank, Lincoln Savings Bank, and Wells Fargo ensure your Cash App experience is smooth and secure.

While technology has caused an earthquake in traditional banking methods, the principles remain the same. Your money needs to be kept safe while also being accessible when you need it.

Also Read: 8 Safest Banks In The U.S. 2024 [Safest Place For Your Money]

Is Cash App A Bank?

No, Cash App is not a bank. It is a mobile payment service developed by Square, Inc. that allows users to transfer money to one another using a mobile app.

Although it does provide supplementary visa debit cards to users (Cash Card) and optional free direct deposit for paychecks, it lacks several features standard to most banks – like offering loans or earning interest on your balance.

It stores funds in FDIC-insured bank accounts, ensuring up to $250,000 is insured per depositor, per institution in the case of a bank failure.

Do You Need a Bank Account to Use Cash App?

Do You Need a Bank Account to Use Cash App?

No, having a bank account to use Cash App is unnecessary. This financial platform allows users to create a free account and transfer money to other users within the same country.

You can link a debit or credit card to your Cash App account or load money onto your Cash App from a physical store.

However, without a bank account, you won't be able to take advantage of some features such as direct deposits.

Also Read: Cash App Sending Limits In 2023 [Daily, Weekly, and Monthly]

How to Set Up Direct Deposit in Cash App?

Setting up Direct Deposit in Cash App requires a few easy steps:

  • Open the Cash App on your mobile device.
  • Click on the 'Banking' tab at the bottom left of your screen.
  • Select 'Deposits & Transfers.'
  • Choose 'Get Direct Deposit Form.'
  • Fill out the form with your employer's details and the amount you want to be directly deposited into your Cash App.
  • Tap 'Get Sign
  • Email or print out the form, then submit it to your employer.

Now, you've successfully set up Direct Deposit in Cash App! Please note that the Direct Deposit might take 1-5 business days to reflect in your Cash App balance.

Is Cash App the Safest Money Transfer App?

Cash App is considered safe to use for transferring money. It uses various safety features to protect users, including encryption and fraud detection technology and allows users to set up a unique PIN code for additional security.

It's always crucial for users to follow basic safety measures. They should only send money to people they know and trust, confirm recipient details before any transaction, and regularly review their transaction history for suspicious activity.

While Cash App offers robust security features, no app can be 100% secure, and users need to take additional precautions to protect themselves from scams or fraud.

Also Read: How To Borrow Money From Cash App In 2024 [Experts Guide]

FAQs about what bank Cash App use

Who is the banking partner of Cash App's Visa debit card?

Sutton Bank is the institution that provides Cash App with its Visa debit cards.

Can a Cash App account be associated with multiple banks?

No, a Cash App account can only be linked to one bank at a time.

Is the money I hold in my Cash App account FDIC-insured?

Yes, your balances held within the app, up to $250,000, are FDIC-insured through Lincoln Savings Bank, while Sutton Bank provides security for your Cash Card transactions.

Do you need a bank account to sign up for Cash App?

No, having an existing bank account isn't mandatory to use Cash App - you can still send and receive money and use other features.

Does my traditional bank know I'm transferring funds to and from my Cash App?

Yes, when linked, transactions between your bank and your Cash app are traceable by your banking institution.


So, there you have it! While Cash App might not be a bank itself, it collaborates with different established banks to bring you several financial services.

It essentially acts as a bridge connecting users to their traditional banking systems while also providing unique features.

By understanding the relationships and mechanics behind the banking processes of Cash App, you can better optimize your financial transactions and make informed decisions.

Despite living in a predominantly digital world, effective money management still holds significant importance.

Michael Restiano

I support product content strategy for Salt Money. Additionally, I’m helping develop content strategy and processes to deliver quality work for our readers.

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