Is my Cash App balance insured by the FDIC?

If you have a Cash Card, the money in your Cash App account balance is covered by the FDIC through our partner banks (FDIC “pass-through” insurance) in the event of bank failure. The FDIC will cover eligible accounts up to $250,000 per Cash App customer. Bitcoin and investing balances are not covered by FDIC insurance.

What is the FDIC?

The Federal Deposit Insurance Corporation (FDIC) is a federal agency that protects your money if your bank goes bust. It rarely happens today, but when the FDIC was created during the Great Depression it happened a lot. The FDIC insures bank deposits—if your bank goes out of business they cover the money in your account.

The FDIC also supervises banks to make sure they follow consumer protection laws and meet other requirements. The FDIC gives us confidence in banks and the financial system as a whole. When a financial institution displays the FDIC logo, you know it’s safe to keep your money there.

Does FDIC cover money lost due to fraud?

No, FDIC offers insurance on deposits by institution, meaning that if your bank goes out of business, your money is protected up to $250,000. Insurance coverage is not provided for individual transactions.