Does Cash App work internationally?
it’s complicated. Cash App only Support international transaction between the United States and the United Kingdom. To use it outside these two countries, you’ll need an alternative.
Introduction
Cash App has gained much popularity in the US and also gaining ground in the UK. They are among the top five digital banking sectors in the USA. The likes of McDonald’s, Swagbucks, and other prominent stores now accept Cash App as a means of payment.
Their popularity in the United States has made people ask If Cash App works Internationally. Currently, it works only in the USA and in the United Kingdom. And it seems they are not bothered expanding to other countries for now. This simply means if you’re not a US or UK resident, you can’t send or receive money with Cash App. It doesn’t support International payments other than the two countries.
As a UK resident, you cannot invest in stocks or Bitcoin with Cash App. The investment feature is not yet available for UK customers. But if you reside in the US, you can invest in stocks and Bitcoin using the app.
Read Also: How To Sell Stocks On Cash App – A Complete Guide.
Read Also: How To Make Money With Bitcoin On Cash App.
Now, let’s tell you all you need to know about Cash App International transactions, and also list Cash App International alternatives for payment and investment purposes, stick around.
What Is Cash App?
Cash App is a digital banking app owned by Block Inc, which operates majorly in the United States and the United Kingdom. (they are not yet popular in the UK). You can send and receive money from friends, and family on the app. Also, you stand a chance for a discount on your purchases when the Card boost is enabled. You can earn free money on the app through their referral program, by answering some surveys, and through other means. Also, you can invest in stocks and Bitcoin (only available for US customers), And many other features.
Read Also:How To Use Cash App Boost – Complete Direction
Does Cash App Work Internationally?
Currently, Cash App only operates in the United States and the United Kingdom.
For you to send and receive money with the app, you must be a US or UK resident with an active British or US bank account.
You can only send money with the app across the two countries. It doesn’t support any other cross-border transactions. When sending money between these two countries, there are no extra charges or added transaction fees. Cash App uses the current market price, which is the “Mid Market Exchange Rate” to determine the actual rate.
Before you complete any International transaction between the two countries, Cash App will show you the current market exchange rate on your screen.
Cash App International Fees
When sending funds between the US and the UK, there are no fees or extra charges imposed by Cash App. Square uses the current market price known as the “Mid Market Exchange Rate” to determine the current GBP – USD “Buy” and “Sell” rates.
So sending funds to your friends, family, or anyone from the US to UK or vice-versa doesn’t come with any fee.
What’s The Best Cash App International Alternative For Payment Purposes?
Cash App is only available to US and Uk residents. However, there are many other International money transaction Fintech companies that offer a wide range of services across Asia, America, Africa, and Europe.
Here are some Cash App International trusted payment alternatives
- PayPal: Paypal is one of the trusted online money banking platforms, that’s trusted globally. The app is available in over 200 countries around the world. You can send and receive money on the app, either as a personal or business payment.
However, they are not available in these countries,
Pakistan,
North Korea,
Myanmar,
Bangladesh,
Turkey,
Ghana,
Uzbekistan,
Iran,
Afghanistan,
Iraq, and
Sudan
- Revolut: Founded in 2015 by Nikolay Storonsky and Vlad Yatsenko. Revolut has gained its trust and is growing rapidly. With the app, there’s no charge fee for your transaction, also they offer low currency conversion charges rates compared to other digital banking sectors.
They are not as popular as Paypal, but they offer International transactions to the top European Economic Areas. Here are the top countries where their services are available
Japan,
United States,
Australia,
Switzerland, and
Singapore.
They are making plans to expand to other countries soon.
- Monese: This is another great alternative to sending money Internationally. Currently, the platform is available in 31 countries. You can access the platform using your mobile phone. Their International transaction is free, with no charged fees.
Here are some countries where monese is functional.
Slovakia,
Spain,
UK,
Slovenian,
Italy,
Cyprus,
Belgium,
Ireland,
Lithuania,
Portugal,
Greece,
Latvia,
Estonia,
France,
Luxembourg,
Malta,
Germany,
Austria, and
Finland.
- N26: this digital banking platform majorly operates in Europe. The company is based in Germany. Currently, they are in the US, and 22 European countries.
Here are the countries N26 operates.
USA,
Norway,
Poland,
Germany,
Austria,
Greece,
Portugal,
Switzerland,
Spain,
Sweden,
Slovenian,
Netherlands,
Slovakia,
Iceland,
Ireland,
Estonia,
France,
Finland,
Luxembourg,
Liechtenstein,
Italy,
Belgium, and
Denmark.
- WorldRemit: WorldRemit is another alternative when it comes to international transactions. They provide fast, and affordable bank transfers and pick-ups for their global customers.
For speedy and affordable payment across Africa and Latin America, WorldRemit is the best app to use.
- Wise: is a London-based digital banking platform that operates globally. Their cash transfers are cheap. They use the current exchange rate to execute any international transactions.
The amazing part is, you can have about 54 currencies on the app. It also works as a bank account. Their debit card, which costs €7 to obtain, can be used for withdrawal purposes in over 200 countries worldwide, at any ATM.
Wise is not functional in these countries.
DR, Congo,
Peru,
Venezuela,
Mexico,
Angola,
Algeria,
Tanzania,
Sudan,
Ethiopia,
Iran,
Myanmar,
Saudi Arabia,
Afghanistan,
Mozambique,
Taiwan,
Yemen,
Uzbekistan, and
Iraq.
What’s The Best Cash App International Alternatives For Investment Purposes?
As you already know, it’s possible to invest in Stocks and Bitcoin with Cash App, for US customers only.
These are some of the world’s best brokers’ Cash App alternatives.
- Interactive Brokers: one of the oldest investment brokers in the world. Founded in 1978, IBKR has grown to be one of the best and most trusted investment platforms globally. The (Fx fees) currency conversion fees are low compared to other brokers.
There’s also the IBKR GlobalTrader app, which allows users to trade Stocks, Options, and ETFs. As a beginner in stock investment, the app is the best to use.
Interactive Brokers operates worldwide, in more than 220 countries. There might be exceptions.
- eToro: eToro is also a giant platform when it comes to stock investment. They have about +30 million active users. They are the no1 leading social trading sector globally.
There’s a commission-free stock trading for its users (except for US investors)
eToro is available worldwide except,
Russia,
Hong Kong,
Canada, and
Japan.
- DEGIRO: DEGIRO majorly operates in Europe. Their fees are low. You can trade many other investment products on the platform. As a DEGIRO user, there’s a commission-free Stock and your ETF trading.
Here are the 18 countries DEGIRO operates in
Finland,
United Kingdom,
Greece,
Poland,
Norway,
Ireland,
Denmark,
Czech Republic,
Germany,
Italy,
Switzerland,
Hungary,
France,
Portugal,
Austria,
Sweden,
Spain, and
Netherlands
Conclusion
As you’ve seen in this post, the only International transaction supported on Cash App is for US and UK residents. Aside from these two countries, no other country is supported at the moment. But you can use either the alternatives apps for international payment or alternatives brokers for investment purposes listed in this post.