Canada

Cash App Canada | Is It Available, If Not, What Are Your Other Options?

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Cash App has largely expanded the features that it offers but its usability has been limited to the US. Where we first talk about whether you can have multiple Cash App accounts, now it is time to address another hot topic – Is Cash App Canada available?

What Will We Talk About Here?
  • You can not use Cash App in Canada and there is no hope of getting it in the near future.
  • Some reliable alternatives to try include Wealthsimple, Wise, Interac e-transfer, or PayPal.
  • Cash App provides quick means to transfer money along with short-term loans, bitcoin exchange, and stock purchase options.

…and Much More!

Cash App Canada – Can You Use It?

To cut the long story short, you can not use Cash App in Canada and there is no hope of seeing this in near future either.

  • Cash App by Square is only currently available to the residents in the US and UK.

Since Cash App does not operate internationally, the accounts need to be US-based in order to send and receive money. As for the Canadians, there are other apps that they can try out instead to make money transfer quick and convenient for them.

Cash App Canada Alternatives

If you live in Canada and wish to enjoy the perks that Cash App offers, there are several alternatives like Wise & Wealthsimple Cash that you can choose from. We have listed some of the best ones below. Take a look!

Wealthsimple Cash

The closest alternative to Cash App that you will find in Canada is Wealthsimple Cash App. You can send and receive money within Canada using this app. Moreover, you can use Visa Debit Card to move funds into your Wealthsimple account instantly, if need be.

  • The money transfer is quick and safe.
  • There are no charges for sending money through Wealthsimple neither are there any exchange fees.
  • Users are also allowed to add personalized messages when they are sending over funds.
  • It offer features like WS Trade and WS Crypto to purchase and sell cryptocurrencies.
  • Wealthsimple debit card is also in the launch phase. Soon, users will be able to make everyday purchases through it.

You might be interested in reading: $750 Cash App.

Wise

Since Cash App is not available in Canada, some users in the US have been looking for a way to send money from US to Canada and vice versa. Well, Wise is the answer! In fact, more than 10 million customers have already signed up with this service.

  • Wise is regulated by FINTRAC and has performed extraordinary in the past years.
  • There are no additional charges and the exchange rates are some of the best that you will find.
  • In addition to Canada, Wise is available in more than 80 countries.
  • It deals with 50+ currencies.
  • It has partnered with EQ bank and you can easily initiate online transfer via its app.

PayPal

Another reliable alternative to Cash App in Canada is PayPal. Similar to how the Cash App works, you can use PayPal to send and receive funds from family and friends. Moreover, you can also make international transfer via PayPal.

  • PayPal may have higher fees and currency exchange when transferring funds internationally.
  • You need to link your bank account with PayPal when sending money within Canada.
  • Creating PayPal account is also quite easy.
  • PayPal can also be used to pay on other platforms like Onlyfans.
  • Moreover, it owns Venmo which is a direct competitor of Cash App in the USA.

Interac e-Transfer

The most simple alternative to Cash App is Interac e-transfer that is dedicated for peer-to-peer payments in Canada. It is convenient to use and easy to download as well.

  • All banks and financial institutes offers Interac e-transfers.
  • The transfer can also be completed via mobile phone or just with email.
  • There is no cost of receiving money via Interac e-transfer but there are certain charges for sending money.
  • You may have to pay up to $2 for the transfer that you are making.
  • More than 250 banks support this option.

KOHO

KOHO app comes with a reloadable prepaid card. It was launched in 2014 and have been gaining active customers since then. Needless to say, KOHO is an outstanding alternative to Cash App if you happen to be in Canada.

  • Users can earn 0.5% cash back on all purchases that you make with KOHO prepaid card and up to 2% with KOHO premium card.
  • KOHO to KOHO transfers are free of charge and happen instantly without any delay.
  • Customers can also access up to $100 paycheck 3 days earlier without additional costs.
  • KOHO is an ideal choice if you to build your credit over time.
  • The funds in your account will be FDIC-insured.

Mogo App

With 1 million active users, Mogo app provides extensive financial services along with digital banking and instant money transfers.

  • You can perform bitcoin trading, monitor credit score, avail lending services, and more with Mogo app.
  • The app has integrated perfect fraud protection features.
  • Although it is considered an alternative to Cash App, Mogo actually provides access to more features than Cash App does.
  • Mogo is also currently expanding the products that it provides to customers.
  • You have to keep in mind that Mogo does not support peer-to-peer payments.

Shakepay

Shakepay is a good alternative to Cash App if you are concerned about cryptocurrency exchange. The platform makes it quick and convenient to buy and sell cryptocurrencies as per your need.

  • It is widely available in Canada.
  • Exchange with other Shakepay users is completely free of cost.
  • With Shakepay card, you can also earn considerable cash back when you use it to shop online or in-store.
  • Certain platforms allow you to win $10 sign up bonus when you create account with Shakepay.
  • You need referral in order to win this bonus.

Newton

If cryptocurrency exchange is your priority, Newton is another amazing option that you can easily sign up with. Since it is Toronto-based, Newton is available to all Canadians.

  • It is one of the most reliable cryptocurrency exchanges that you will find in Canada.
  • The costs associated are pretty low.
  • Newton allows you to work with more than 10 different cryptocurrencies.
  • Most commonly used currencies here are Bitcoin and Ethereum.
  • Some platforms also allow you to sign up and with $25 welcome bonus.

The Cash App – Everything You Need To Know

Cash App is an impeccable peer-to-peer payment service that was launched in 2013. Its basic aim was to make it easier to exchange funds to other accounts such as bank account, Venmo, PayPal, Chime, Zelle, etc.

  • With Cash App, users had the flexibility to use just their mobile device and perform transactions with friends and family within seconds.

The app requires you to share email ID, contact details, and some more basic information. After this, you can choose a $cashtag and begin transferring funds instantly.

Furthermore, Cash App has launched additional features now to benefits its accountholders. For example, it is perfect for stock exchange, buying and using cryptocurrency as well as accessing short-term loan. Here’s a quick guide on all the features that Cash App has to offer.

  • It comes with a Visa debit card that you can easily apply for, activate, and load to use in-store and otherwise.
  • You can set up direct deposit to receive your paycheck 2 days earlier than with other options.
  • Enjoy access to hundreds of stocks some of which are available at as less as $1.
  • You can use you Cash App account to purchase or sell bitcoins.

The Bottom Line

Money transfer apps have become need of the era. Most prominent ones like Cash App, Venmo or Zelle have attracted millions of customers. However, it is unfortunate that some of these are regionally restricted.

Since you can not use Cash App in Canada, it is better to look into alternatives that best serve your needs. In this regard, Wealthsimple, Wise, or PayPal are some of the most reliable options that you will find as a Canadian.

Frequently Asked Questions

Will Cash App become available in Canada soon?

There has been no promises made or any clues given that Cash App will ever be launched in Canada. Therefore, it is better to resort to alternatives like KOHO, PayPal, Wealthsimple, or Wise.

Can I send money from Cash App US to Canada?

If you wish to make Cash App to Cash App transfer, both the account should be US based. It is not possible to transfer money to Canada using this method.

What are some ways that I can use to send money to Canada?

There are some reliable options if you wish to send money from US to Canada. In this regard, Wise and XE are good platforms to try out.