Cash App

What it is

Cash App, run by Block, isn't a bank account in the usual sense. It's a stored balance in the app that you spend with a Cash App Card, and it only becomes FDIC-eligible once you hold that card or a Sponsored Account. There are no monthly fees, but ATM withdrawals ($2.50) and cash deposits ($1) cost money. Block doesn't say whether it checks ChexSystems or credit when you sign up.^1,2

Does Cash App use ChexSystems?

Cash App doesn't say whether it checks ChexSystems for this account. We found no mention of ChexSystems in Cash App's Terms of Service (last updated Sept 11, 2026), banking page, card page or 'Is Cash App a bank?' article. The terms describe identity verification through third-party services, not banking-history reports.

We couldn't find where Cash App says what it checks for this account. If you've been denied elsewhere, ask the bank before you apply whether a ChexSystems or Early Warning report affects this account.

Fees and overdraft

Monthly fee

$0. No monthly fee. Fees include $2.50 per ATM withdrawal (in-network fees reimbursed with Cash App Green, which takes $500 in qualifying purchases or $300 in qualifying deposits a month), $1 per paper-money deposit, 0.5%-2.5% for instant transfers out ($0.25-$1 minimum, $75 maximum), 3% to add money from a credit card and 3% for foreign transactions.^1,2,4

Minimum to open

Not stated

Overdraft

Free Overdraft Coverage is optional and covers Cash App Card purchases only (not ACH transfers, ATM withdrawals or cash back), up to a limit of no more than $200. You must have Cash App Green status, which the banking page links to $300 or more in qualifying deposits a month. There are no fees or interest, Sponsored Accounts can't use it, and other transactions are declined when the balance is short.

ATMs

$2.50 per withdrawal at any ATM, plus any operator fee. Cash App Green members get in-network (MoneyPass, about 40,000 ATMs) fees reimbursed, plus one out-of-network withdrawal a month.

Early direct deposit

Yes

Who can open it

App-based. Users must be U.S. residents, at least 18 and of the age of majority in their state; teens 13-17 can get a card through a Sponsored Account (child sponsored accounts aren't available to New York residents). The card needs a physical mailing address, not a P.O. box.

Deposit insurance: Cash App is a financial services platform run by Block, Inc. It isn't a bank and isn't FDIC-insured. Block may pool customer funds in bank accounts in its own name, separate from its corporate funds. Your Cash App balance is a deposit product eligible for FDIC pass-through insurance (up to $250,000 per customer, aggregated with other deposits at each bank, through Wells Fargo Bank, N.A., Sutton Bank and other program banks) only if you hold a Cash App Card or a Sponsored Account and other conditions are met. Without one, Block's terms say the balance is not a deposit product and not eligible for pass-through coverage. Cards are prepaid debit cards issued by Sutton Bank or Visa Debit Flex cards issued by Sutton Bank and The Bancorp Bank, N.A.

If you've been denied before

• If a bank or credit union turns you down because of a checking account report, it must send you an "adverse action" notice with the name and contact information of the reporting company it used.^6,7
• By law, you can get a free copy of your checking account report once every 12 months, and you are also entitled to a free copy if a bank turns you down because of it.^8,9
• If your checking account report has an error, you have the right to dispute it with the reporting company and with the bank or credit union that supplied the information. Under the FCRA, companies must investigate disputes free of charge.^8,9,10
• The Office of the Comptroller of the Currency (OCC) says negative information generally stays on ChexSystems and Early Warning Services reports for five years.¹¹

ChexSystems, explained