Save for your goals, your way

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.

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.

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.

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.**

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.

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.

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.