Does Cash App Work in Canada

Launched in 2013 by Square Inc., Cash App is a P2P payment platform that allows you to send and receive money. Apart from sending money, the App allows you to receive direct deposits, trade in stock and buy bitcoin. While Cash App is similar to Venmo, PayPal and Zelle, it offers additional services that make it stand out from the crowd.

Is Cash App Available in Canada

No Cash App doesn't work in Canada. To use Cash App both the sender and the receiver must be residents of the US and UK. This means you cannot send or receive money from someone in a different country.

How Cash App Works

To get started with Cash App, go to Google Play or App Store and download the app. Once you’ve downloaded the app, provide your email and create a unique username used to identify your account.

When sending money you just need to open the app, and enter the email, phone and user name of the recipient of the money. While Cash App doesn't work in Canada, it doesn't mean that there are no other alternatives that the residents can use. Similar to Cash App these platforms allow you to send and receive money without any problem. Here are the top 5

Cash App alternatives.

Interac e-Transfer

If you are looking to send money to your loved ones in Canada then Interac e-Transfer can be the best option. As the easiest and the most convenient way to send and receive money in Canada, Interac e-Transfer allows you to remit money to family and friends without downloading the app.

Provided you have an account,. you can access the platform through your bank's online banking. With Interac e-Transfer, you can send money to anyone with a phone number, email address and bank account in one of its over 250 participating institutions. While receiving money is free, depending on the institution, you may be charged some fees. Overall Interac e-Transfer offers an easy and fast way to do money transfers.

KOHO

KOHO is a reliable app that offers other services other than remitting money. With this platform, you can save, budget, get cash back and improve your credit score. KOHO provides a platform where one can instantly send and receive money to family members and friends.

What Makes it stand out is that it offers additional services just like Cash App. For instance,, it allows you to receive cash back on all purchases and additional cashback on restaurants, groceries, and transportation. KOHO also has a reliable prepaid card that lets you control your money. You can load and only spend the money which is on the card. The best part is that you’ll get a $20 bonus when you sign up with the platform.

Wise

Wise is an international money transfer service that allows you to send and receive money in over 80 countries. Formerly known as Transferwise, Wise currently has over 13 million users who use it for cross-border payments. Since the app is all about transparency, it features a currency conversion tool that lets you calculate the rates without any hidden charges. This way, you can know what you’ll be charged before you create an account or send the money.

While most sites use markup exchange rates, Wise’s exchange rate is low-cost and straightforward. Moreover, Wise lets you set up American and international bank accounts and get the ability to send and receive money in multiple currencies.

PayPal

PayPal is a unique platform that allows you to send and receive money with your email and phone. Unlike Cash App, PayPal is also widely used in Canada, the USA and other countries around the world. While it's free to send and receive money via PayPal, the fees can get expensive if you send and receive money in other countries.

But if you are receiving foreign currencies, Wise works much better than PayPal.To get started with PayPal, you need to create an account, link your cards and bank account and start receiving money. Today the platform boasts over 300 million members.

Wealthsimple Cash

Wealthsimple Cash is one of the closest alternatives to a Cash App that's free to use the best thing about this app is that it charges no fees to send and receive the money. Apart from sending and receiving money instantly from friends and family, the app allows you to earn up to 5% cash back on all purchases.

More so the platform allows you to trade stock, invest and even pay your taxes through the platform. Today the company has over 2 million users in different countries. plus when you create a new account you receive a bonus.

Shakepay

Shakepay is a cryptocurrency exchange platform that offers the easiest and simplest way to buy and sell crypto. In addition, users can send cryptocurrency and CAD to other users for free through the platform.

The company is also planning to introduce a Shakepay card to allow you to earn cash back in the form of bitcoins. Although Shakepay is not the cheapest, you can enjoy free crypto withdrawals. Plus you get a sign-up bonus when you create an account.

Newton

If you want to buy bitcoin or other cryptocurrencies, Newton is perhaps the best exchange platform. Featuring over 70+ coins the app, Newton is beginner friendly app with very low fees. It also offers free crypto withdrawals on some coins and instant funding via e-Transfer.

Although still new, the company has proven itself as one of the best alternatives for Cash App in Canada. Apart from Ethereum and Bitcoin, it allows you to trade eight other cryptocurrencies. Its only downside is that opening an account takes time since its support is slow.

Summary

So can Cash App work in Canada? No. While Cash App doesn't work in Canada, there are several alternatives you can choose from. However, before you settle on one, it's very important to consider the fees and the services that each platform offers. From KOHO to Newton, you have several options when it comes to sending see