What Bank Is Cash App? – Uncovering Your FDIC Partner Bank

In today’s fast-paced digital world, mobile payment applications, such as Cash App, have become increasingly popular as a way to send and receive money. One crucial aspect for users is understanding which bank is behind their Cash App transactions since it ultimately affects the insurance and protection of their funds.

Cash App, a popular mobile payment application, partners with two different banks – Lincoln Savings Bank and Sutton Bank. Knowing which bank partners with Cash App is important because the Federal Deposit Insurance Corporation (FDIC) insures your Cash App balance up to $250,000 if the partner banks holding your funds were to go out of business. Thus, it provides users with a sense of financial security and confidence while using the application.

Understanding Cash App

Cash App is a popular mobile payment service that allows users to send and receive money instantly through their smartphones. The app, developed by Square Inc., has gained popularity due to its simplicity and ease of use. To cater to its users’ banking needs, Cash App partners with two different banks, namely Lincoln Savings Bank and Sutton Bank.

Although Cash App is not a traditional banking institution, it still works closely with these partner banks to provide necessary banking services, such as direct deposits and ATM access. Users can link their existing bank accounts or use their Cash App balance for transactions.

One important feature to note is that Cash App balances are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000. This means that if the partner banks holding your funds go out of business, your balance will still be protected, as stated on the Cash App website.

Users can benefit from additional features like direct deposits, which can be set up easily, allowing them to receive their paychecks up to two days earlier, as mentioned on the Top Mobile Banks blog. This service greatly benefits those who prefer managing their finances through their smartphones or want quicker access to their paychecks.

FDIC Partner Banks Explained

Cash App works in collaboration with two different banks to provide financial services to its users. These partner banks are Lincoln Savings Bank and Sutton Bank. Both banks are FDIC insured, which adds a layer of protection for Cash App customers.

The Federal Deposit Insurance Corporation (FDIC) is a US government agency that protects depositors against the loss of their insured deposits in case a bank fails. FDIC insurance covers up to $250,000 per depositor, per insured bank, for each ownership category. This means that if a partner bank holding your money goes out of business, your Cash App balance is insured up to that limit.

It is important to note that the FDIC insurance applies only to the partner banks holding your funds and not directly to your Cash App account. As a result, it is essential for users to understand that their money is protected as long as it is held by an FDIC-insured partner bank.

Identifying Cash App’s Bank Partner

Cash App, a popular mobile payment service, partners with two different banks to provide its financial services. These banks are Lincoln Savings Bank and Sutton Bank. Both banks are FDIC insured, ensuring that your money is safe and secure while using Cash App.

For Cash App’s direct deposit feature, the primary partner bank is Sutton Bank. When setting up direct deposits on Cash App, you will need to provide the following bank details:

  • Bank Name: Sutton Bank
  • Bank Address: 1 S Main St, Attica, OH 44807
  • Routing Number: Specific to your account
  • Account Number: Specific to your account

Sutton Bank plays a significant role in Cash App’s operations, particularly in providing banking infrastructure for direct deposits and other transactional services. However, it is essential to also note the involvement of Lincoln Savings Bank in partnering with Cash App.

Using both Sutton Bank and Lincoln Savings Bank, Cash App offers a variety of financial services, such as peer-to-peer payments, direct deposits, debit card transactions, and investment options while maintaining the necessary regulatory compliance and FDIC insurance coverage.

Benefits of Partnering with an FDIC Bank

Partnering with an FDIC-insured bank provides a wide range of benefits for Cash App and its users. One of the most significant advantages is the financial security and peace of mind that comes with federal deposit insurance. The FDIC insures Cash App balances up to $250,000, protecting the funds in case the partner bank goes out of business.

Furthermore, FDIC-insured banks must adhere to strict regulatory requirements and compliance standards, ensuring that the banking services provided through Cash App are both reliable and transparent. This not only builds trust with users but also helps maintain the integrity of the financial system.

Here are a few additional benefits of partnering with an FDIC-insured bank:

  • Enhanced credibility: Users are more likely to trust and use a service that is associated with a reputable, FDIC-insured bank.
  • Regulatory compliance: Partnering with an FDIC bank ensures that Cash App complies with all relevant banking laws and regulations, which in turn can help to mitigate potential legal issues.
  • Better interest rates: FDIC-insured banks typically offer more competitive interest rates on deposits, which may be passed on to Cash App users.
  • Access to additional services: FDIC banks can provide Cash App with a broader range of banking services to offer to its users, further enhancing the overall user experience.

By partnering with an FDIC-insured bank, Cash App ensures that it not only offers users a secure and reliable platform for managing their finances but also helps to maintain the stability and credibility of the overall financial system.


In summary, Cash App is not a bank itself, but it works with two FDIC-insured partner banks to handle users’ funds, provide banking services, and issue debit cards. While the app offers similar features to a traditional bank account, it should be noted that it operates primarily as a fintech solution.

The FDIC insurance coverage provided for Cash App users is up to $250,000, which protects their balances if the partner banks go out of business. This is an important factor to consider for those who rely on Cash App for their financial transactions and want to ensure their funds are safeguarded.

As users continue to adopt digital wallets and banking solutions, it’s essential to understand the role of financial institutions, such as partner banks, in handling and securing funds on platforms like Cash App. This can help users make informed decisions about their preferred methods for managing and transferring money in an increasingly digital world.

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