A better, simpler way to save—with no minimum balance or fees
Start Saving
Interest makes your money work for you
Reach your goals faster with up to 4.5% interest on your savings through our partner bank.*
No fees, no problems
Start saving with as little as $1—no hidden fees, minimum balance requirements, or account fees.
Safe and protected
With a Cash App Card, your savings balance is FDIC-insured through our partner bank, plus advanced security features help protect your account.**
Unlimited transfers
Make transfers between your Cash and savings balances without transfer fees or monthly caps.
Save automatically to reach your goals
Set a goal for any amount, then save automatically when you get paid or when you spend with your Cash App Card using Round Ups.
How it works
It’s simple to earn up to 4.5% on your savings.*
1Get a Cash App Card
You need a card before you can unlock 1.5% interest on your savings through our partner bank. Order Cash App Card
2Set up direct deposit
Direct deposit at least $300 in paychecks in a month to increase interest on your savings to 4.5%.*
3Keep depositing paychecks
As long as you continue depositing at least $300 in paychecks per month, you’ll continue earning 4.5% interest.*
Common Questions
Is saving different from adding to my Cash balance?
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 many savings accounts, there are no limits to how many transfers you can make in a month.
How do I earn more interest on my savings?
To earn interest* on your savings, you need to be at least 18 years old, have a Cash App Card, and be using a personal account, not a Cash for Business account.
When you meet those requirements, you can earn the highest interest rate available for your savings by direct depositing at least $300 in paychecks each month. If you have a Cash App Card and don’t meet all of these requirements, you can still transfer money into savings and earn interest at a lower rate.
Are there any fees or minimums to start saving?
No, you can start saving with as little as $1, and there are no fees or minimum balance requirements. You can set a goal for any amount, and change the amount and what the money's for anytime. It’s that simple.
How does Cash App keep my money safe?
Cash App protects millions of people’s payments each month. Cash App is built on one secure platform, with advanced security features to power and protect your personal information and every single transaction that happens on the platform.
Plus, when you have a Cash App Card, your savings balance is FDIC-insured through our partner bank for up to $250,000 per person.**
How does earning interest work?
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.
Do I have to pay taxes when I earn interest?
If you earn $10 or more in interest in a year from your savings, you’ll receive a Form 1099-INT that shows how much interest you received, any taxes withheld, and if the interest is tax-exempt. These tax forms are sent out by January 31, and you need to include this income on your tax return.
How do I transfer money to savings?
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 with your spare change every time you spend with your Cash App Card.
Download CashApp to get started
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