Alongside Venmo, Cash App is among the most popular peer-to-peer payment platforms, though it does a whole lot more than just money transfers. You can use Cash App for things like automated investing, tax filing, and family accounts. If you use the app, here are 10 hacks for optimizing your finances.
Turn on “Round Ups” to automatically save or invest spare change
If you have a Cash App card, you can set it to round up transactions to the nearest dollar and add the difference to your savings or invest it in stocks or bitcoin. In exchange for a few cents here and then, you can start to build up your savings and investments over time. If your overall balance is too low, Cash App will stop round-ups, too. From the Money tab, tap your Cash App Card and toggle Round Ups on. Select from Stock, Bitcoin, or a Savings balance, choose the destination, add a Cash PIN, and follow the remaining prompts.
Deposit cash directly to Cash App at select retailers
If you have literal cash burning a hole in your pocket, you can deposit it to your Cash App balance instead of a bank. Cash App can receive cash deposits at dozens of participating retailers, such as grocery and convenience stores, as well as CVS and Walgreens. Note that there’s a $1 transaction fee per deposit unless you qualify for Cash App Green (the platform’s banking program).
Add an Offer to get discounts on spending
Cash App Card users can add Offers—formerly Boosts—to their card to save money on frequent transactions at select merchants, such as coffee shops and restaurants. Once added to your card, you get a discount at the point of sale (though there may be restrictions, such as a minimum spend or a maximum discount). You can have up to three offers active at once, and you can switch them out at any time. Go to the Money tab in your app, select your card, and tap Explore offers to see what’s available.
Enable Security Lock to require verification for every transaction
To prevent someone with access to your device from opening Cash App or moving money from your account, enable Security Lock. This feature requires biometric authentication (such as your face or fingerprint) or a PIN each time you open the app or send a payment. Tap your profile icon and select Security > Security Lock. Select Opening Cash App or Sending payments (or both) and create your 4-digit code. You can also save your biometrics if your device supports it.
Hide your profile to prevent scammers from discovering your account or requesting money
Cash App requires you to use your legal first and last name to create an account and makes your profile name searchable by default. But you can turn this off to prevent just anyone from finding you—whether it’s someone you know but don’t want seeing your profile or scammers who may try to trick you into sending them money. Go to your profile and tap Privacy > How others find you and turn off Profile name.
Enable real-time alerts to quickly identify suspicious activity
Cash App has an instant alert setting that will send you a push notification, text, or email whenever your account sends, requests, or receives money. If a transaction is suspicious—someone gains unauthorized access, for example—you’ll know immediately. Cash App also sends alerts when it detects unusual activity. You can update your notification settings by going to your profile > Notifications.
Set up a “Pool” to pay for shared expenses
Pools is Cash App’s group payment feature for pooling funds for shared purchases, such as a vacation or group gift. Anyone added to the pool can contribute toward a funding goal. Instead of one person paying out of pocket and waiting for reimbursement, groups can collect the money beforehand and use it to fund the purchase once the target is met. Under the Money tab, tap Pool, enter a name, and set a goal amount. You can invite contributors, and if they don’t have Cash App, they can still participate via Apple Pay or Google Pay.
Set up family accounts to teach kids to manage money
With a managed account (eligible for ages 6 through 12), parents can deposit an allowance, which kids can spend from Cash App—with oversight like a card lock, spending limits, and transaction alerts. Kids can also set savings goals and earn interest on their balance. Accounts for teens (ages 13–17) include access to a Cash App Card and investing tools, though the parent “sponsor” can still manage permissions and see account activity. Parents can create managed accounts for kids via Money > Family in the app, while teens can request approval from a parent or guardian to unlock a sponsored account.
Use your Cash App Card to get concert presale access
If you’ve bought concert tickets in recent years, you’ve likely experienced long queues, high prices, and a lot of stress. Cash App can’t make tickets cheaper, but you may be able to get into popular shows through the platform’s presale partnerships. Upcoming presales are announced on Instagram—to get in, add money to your Cash balance, use the first nine digits of your Cash App card as the presale code on the ticketing website, and check out with your Cash App card. That said, only a limited number of tickets are reserved for Cash App users, so this isn’t a guarantee.
Use Cash App to file your taxes for free
There are only a few options for filing your taxes for free—and Cash App is one of them. Formerly Credit Karma Tax, Cash App Taxes is an authorized IRS e-file provider, which allows you to fill out and submit your federal and state returns at no cost. The guided filing process is built into the main Cash App interface, so you don’t need a separate app or account. You can also file via your browser. Cash App Taxes can also handle more complex tax situations, such as gig income and crypto sales.
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This articles is written by : Nermeen Nabil Khear Abdelmalak
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