Cash App Canada

Last Updated: Nov 18, 2022

Cash App Canada Does Not Work – Try These 5 Apps

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Unfortunately, Cash App does not work in Canada because it's only available for US and UK residents. It is not listed on the Canadian App Store and money transfers only work with US or UK bank accounts.

Additionally, they have not made any statements about coming to Canada. The best Cash App alternatives for Canadians are Interac e-Transfer for domestic money transfers, Wise for international money transfers, and Wealthsimple for an all-in-one finance app.

Who Can Use Cash App?

Here is their official terms of service. It says that to open an account, you must be resident of the United States that is 18 years old. 

What Is Cash App?

Cash App is a financial super app that offers peer-to-peer payments, stock investing, crypto, debit cards, and more. It launched in 2013 and has grown to 49 million monthly transacting users as of Q3 2022. 

Wealthsimple and Neo Financial are the most similar all-in-one finance apps for Canadians, both of which have over 1 million users.

Cash App's Best Features

  • Money Transfers. Send, receive, and request money for free to anyone in the US or UK. All you need is the users $Cashtag (username), phone number, or QR code to send funds to them.
  • Cash Card. A free debit card with instant discounts and no hidden fees.
  • Stock Investing - Trade stocks commission-free with as little as $1.
  • Bitcoin Trading - Buy, sell, and send Bitcoin with as little as $1. Users can also earn Bitcoin on Cash Card purchases.

Cash App also offers paychecks up to 2 days early, buy now pay later, and other services. It really is an all-in-one financial app.

Cash App

Best Cash App Alternatives for Canadians

Luckily, there are some great fintech apps in Canada, but it should be kept in mind, none offer as many features as Cash App. Check out the best alternatives for peer-to-peer payments, investments, banking, and more, whatever your needs may be.

Best All-In-One Finance App:

  • Wealthsimple (stocks, crypto, Visa card, P2P payments, and more)

P2P Payment Alternatives:

Other Apps

  • Newton (best overall crypto exchange)

Wealthsimple

  • Best All-In-One Finance App

Like Cash App, Wealthsimple has many financial tools inside one app. On the investing side, users can invest in cryptocurrencies, stocks, ETFs, or use a robo-advisor. On the payments side, Wealthsimple Cash lets you send money to other Canadians. While the Cash App has the $cashtag, Wealthsimple Cash has a $ign (username) where you can easily send funds to other Canadians.

Wealthsimple also has a no annual fee Cash Card where you can earn 1% back paid in cash, crypto, or stocks (your choice). With all these features, Wealtshimple is the best Cash App alternative for Canadians and has over 2.5 million clients.

  • Very easy to use
  • Pay other Canadians for free
  • Many investing tools
  • Low or no fees on most products
  • Highly secure (owned by a publicly traded company)
  • Can't send or receive money outside of Canada
  • Only one currency ($CAD)
  • High fees for crypto and US stock purchases
  • Still doesn't have as many features as Cash App

Interac E-Transfer

  • Best Canada-to-Canada Payments
Interac E-transfer

In case you haven't heard of it, Interac e-Transfers are one of the fastest and easiest ways to transfer money between Canadian bank accounts. Anyone who has a Canadian bank account is already eligible. E-transfers can be sent through your online banking app using the recipient's email address or phone number.

  • Fast transfers between Canadian bank accounts
  • Free to receive payments
  • No app or login needed. If you have a Canadian bank account, you already have e-transfer
  • Can't send or receive money outside of Canada
  • Some banks charge a $1-$2 fee to send e-transfers
  • $10,000 limit per 24 hours or less

Wise (formerly TransferWise)

  • Send and Receive Money Like a Local

Wise has become one of my favourite finance apps. You can open free bank accounts in dozens of currencies, including US and Canadian bank accounts, allowing you to send and receive money like a local in any country. The icing on the cake is that you get excellent exchange rates for converting CAD and USD (unlike PayPal and big banks who charge huge currency conversion fees). In addition, Wise doesn't charge monthly account fees.

To receive USD from someone in America, you can grab your US banking information. To send USD, you can create a bank transfer to anyone with a US bank account.

  • Open free bank accounts in dozens of currencies so you can send and receive bank transfers like a local
  • Send and receive money from US bank accounts
  • Get really good exchange rates
  • Low, transparent fees
  • Not as simple as sending money with a $Cashtag
  • Focused on money transfers. They don't offer investing or many other financial tools

PayPal

  • Popular Global Money Transfer App

When I discovered Wise, I stopped using PayPal because I saved a great deal of money, but this is the next best alternative. You can send and request money through PayPal with just an email address or a phone number. PayPal is widely used in the United States, Canada, and other countries, with more than 300 million clients worldwide. 

Sending money to friends and family in Canada is free, but receiving and exchanging foreign currencies, such as US dollars, incurs high fees. It is particularly expensive to convert USD to CAD. If you'd like to send or receive money from your American friends, there is a good chance that they already have a PayPal account. PayPal is a convenient option for that, but I use it only as a last resort due to their high fees.

  • Send and receive payments from many countries
  • 300 million people, including many Americans, already use PayPal making it easier to send/receive funds from them
  • Expensive currency conversion fees
  • Charges you high fees overall

5. Newton

  • Best Overall Crypto Exchange

Cash App lets users buy Bitcoin and earn Bitcoin rewards with their Cash Card. If you want to buy Bitcoin or cryptocurrencies in Canada, Newton has low-fees (hidden fees included), 75+ coins, and free e-transfer deposit and withdrawals. You can also send crypto to an external wallet and Newton covers the first $5 in network fees.

Newton is also beginner-friendly making it a popular choice in Canada. 500,000 clients trust Newton. You can also use our crypto exchange comparison tool to find Canada's best platforms.

  • RankFi's best overall crypto exchange in Canada
  • Low-fees (commission-free, low spreads, free deposits and withdrawals)
  • Trade Bitcoin and 70+ altcoins
  • Trusted by 500,000 Canadians
  • Send/receive crypto to Americans or anyone with a wallet
  • Get $25 free when you trade $100
  • Crypto only. No stocks or other finance tools
  • No advanced crypto features
  • Slow customer support in my experience

How to Transfer Money from Canada to the USA

Since Canadians can't interact with Cash App, Zelle, Venmo, or other popular American apps, we need to find alternate ways to transfer funds. Luckily, there are workarounds to send money cheaply between the US and Canada.

  • Bank Transfer - The best and cheapest option it make a free account with Wise. You can also open a US dollar bank account at your branch to send or receive USD.
  • Cryptocurrency -  Send the recipient Bitcoin or a stablecoin like USDT or USDC. All you need is their crypto wallet address and it will show up within a few minutes depending on the coin. Newton is the best Canadian app to do this.
  • PayPal Transfer - Many Americans have PayPal and this can be an easy, quick method. However, it's the most expensive choice here because of currency conversion fees.

FAQ

🌐 What Countries Is Cash App Available In?

Cash App is available in the United States and the UK.

🇨🇦 What Is The Best Cash App Alternative in Canada?

The best financial "super app" within Canada is Wealthsimple since it has stock trading, crypto, a Visa Card, and much more. If you're looking to send money from the US to Canada or from Canada to the US, Wise.com is the best choice for fast, affordable bank transfers.

The Bottom Line

Cash App is not in Canada but there are many alternate choices for the features you need. Whether you need payments, banking, stocks, or crypto, Canada has good products for each one. You just might have to use multiple apps to get everything you need.

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