Save money with high interest and no hidden fees

Money that you transfer into savings can earn interest and is separate from your Cash balance. When you send money to friends, spend with your Cash App Card, or buy stocks or bitcoin, the money still comes from your Cash balance.


You can instantly transfer money between your Cash balance and savings anytime. Unlike savings accounts at many banks, there are no limits to how many transfers you can make in a month.

We make it easy to start saving with as little as $1. With just a few taps, you can transfer money instantly from your Cash balance or linked bank account into your savings balance.

To make it even easier to reach your goals, you can also save a percentage of each paycheck or use Round Ups to save your spare change every time you spend with your Cash App Card.

You need to transfer money from savings to your Cash balance to withdraw it or use it for something else. When you send money to friends, or buy stocks or bitcoin, the money comes from your Cash balance, not savings.
Unlike many savings accounts at banks, there are no limits to how many transfers you can make in a month.

No, you can start saving with as little as $1, and there are no fees or minimum balance requirements. You can set up to five goals and track your progress over time. It’s that simple.

Cash App protects millions of people’s payments each month. Cash App is built on one secure platform, with proactive to power and protect your personal information and every single transaction that happens on the platform.

Yes, you can earn interest on your savings if you have a Cash App Card, and a personal account. Cash for Business accounts aren't eligible to earn interest.*

If you meet those requirements, you can earn the highest interest rate available for your savings when you earn status with . Spend $500 with your Cash App Card or deposit $300 in paychecks each month to earn Green status. If you do not direct deposit at least $300 in paychecks each month, you can still transfer money into savings and earn interest at a lower rate.

Sponsored accounts with sponsor approval to earn interest are eligible to earn the highest interest rate.

To earn interest on your savings, you need to have a Cash App Card and a personal account. Cash for Business accounts are not eligible to earn interest.*

If you meet those requirements, you can earn the highest interest rate available for your savings when you earn status with . Spend $500 with your Cash App Card or deposit $300 in paychecks each month to earn Green status. If you do not direct deposit at least $300 in paychecks each month, you can still transfer money into savings and earn interest at a lower rate.

Sponsored accounts with sponsor approval to earn interest are eligible to earn the highest interest rate.

The account owner is responsible for reporting all interest earned on your savings balance to the relevant tax authorities and paying any tax that is owed. If you earn $10 or more in interest in a calendar year, you'll receive a Form 1099-INT that shows how much interest you received. These tax forms are sent out by January 31, and you need to include this income on your tax return. For Sponsored Accounts, the Sponsor is considered the account owner unless/until the sponsored teen graduates and assumes ownership of the account. Once the teen assumes ownership of the account, they become responsible for all tax implications related to the account, including savings yield.

Savings it's a safe place to store money you don’t need for everyday expenses but want to keep accessible for future use, like a vacation, emergencies, or medical bills. Savings may earn interest. While interest rates on savings are generally low, they can help you grow your money over time. 

Money in a savings account is easy to access, but there may be limits on the number of withdrawals or transfers you can make in a month.

Cash App is a financial platform, not a bank. Savings basics FAQ for educational purposes only.

A high-yield savings account is a type of savings account where a bank offers interest rates that are above the national average. This means when you earn more interest, your savings can grow faster.

Cash App is a financial platform, not a bank. Savings basics FAQ for educational purposes only.

A checking account is typically for daily spending. People usually use a checking account to pay bills, make purchases, and withdraw cash. It usually doesn't earn much interest, if any, but it gives you quick access to your money.

A savings account is usually meant for setting money aside, whether that’s for an emergency or a specific purchase. When a savings account earns interest, it can grow over time. Savings accounts typically offer higher interest rates, but there may be limits on how often you can withdraw funds each month.

Cash App is a financial platform, not a bank. Savings basics FAQ for educational purposes only.

APY, short for Annual Percentage Yield, is the percentage of interest you can earn on your money over a year, including the effect of compounding. It’s one way to measure how much your money can grow in an account that earns interest—higher APY means more growth through interest.

Cash App is a financial platform, not a bank. Savings basics FAQ for educational purposes only.

The interest rate is the base percentage your money earns. APY includes compounding, meaning you earn interest not just on your original balance, but also interest that has already been added. Compounding helps your savings grow faster over time.

Cash App is a financial platform, not a bank. Savings basics FAQ for educational purposes only.

If eligible, money in your savings balance accrues interest daily and compounds monthly. That means you'll earn interest on the money you have in savings, plus the interest that gets paid to your balance every month. The longer you keep your money in savings, the more interest you'll earn towards your goals.