If you’re among those asking us “how does Cash App show on bank statement? Just relax, we have penned down the answer here. As the world develops more rapidly into a global village, we are faced with various advancements in the sector of technology of which banking is not left out.
Debit and credit transactions have been made easier to such a great extent that people now make transactions using mobile phones from the comfort of their homes, offices, and every other place.
Several mobile applications have been developed for such purposes. Cash App is one of them. You may have been thinking of using Cash App but don’t know what it is or perhaps you have been using it but wondering how your it show on your bank statement. I want to admonish you to relax and hang on while I take you to learn everything you need to know by reading this article.
What Is Cash App?
It could be that you just heard about Cash App or it was recommended and you don’t know what it is. For a newbie, it’s okay to ask what Cash App is.
Cash App was initially called as square Cash when it was developed in 2013 by Jack Dorsey (the owner of Twitter) and his friend Jim Mckelvey of the Square Company.
It is a mobile application that allows users to pay and receive money using their mobile phones. Just like PayPal, Venmo, Zelle, and others. It is currently available to the US and UK alone and has millions of users.
This App allows the users to pay and receive money. With time, it has expanded its importance to include some other services like the purchase of bitcoin and other forms of crypto-currencies.
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After downloading the App, you would be prompt to create an account using a unique username referred to as $cashtag. Note, however, that the $cashtag is not the username.
It is rather the tag given to the username that you would be using. Transferring and receiving money using the App is only possible when you link your bank account to your Cash App.
How To Link Your Bank Account To Cash App
Linking your bank Account to Cash App is very important as this will enable you to send and receive money from your bank account to Cash App and the other way round. To do this, take the following steps.
- On the home screen of your Cash App, tap on the profile icon.
- Navigate to the bottom and click on “Link Bank” using a debit card.
- If you do not have a debit card or you do not want to use it, tap on no card at the bottom of the page.
- It takes you to another page where you are asked to use a username and password.
- It takes you to another page where options of banks are shown. Select your bank .
- Put in your login credentials and submit.
- A message will be sent to your email to verify your account. Do the verification and you are done.
It’s very easy and your bank account is linked. Congratulation!.
How Does Cash App Show On Bank Statement?
Remember that a Bank Statement is a summary of all financial transactions of a bank account with a given period. Your bank account statement would show the details of all transactions to Cash App and those sent from Cash App to it.
This only happens if your bank account is linked to your Cash App. (See steps on how to link your bank account above). On your bank statement, you will see every detail that will enable you to ascertain who every transaction was made with.
However, to recognize Cash App, you must first know the name with which it shows up. This is because it would not appear as Cash App on your statement. How then do you know the name with which it shows up? Relax and read on with me.
How To Find The Name Of Cash App on your Statement.
One beautiful thing about Cash App is that it provides its users with a debit card that can be used at any ATM. To know how Cash App transactions appear on your statement, you will have to be aware of the routing number and account number on your cash App debit card. Nevertheless, if you do not have a card, you can still see transaction details by recognizing the name.
The name that would show on your account is the same name for all Cash App users. This is because there is a bank that manages the App. So when a transaction is made with your bank account, it is the name of the managing bank that appears.
The name that would show as Cash App on your bank statement is Lincoln Savings Bank. It is Lincoln Savings Bank that controls and directs deposits and withdrawals from your Cash App account.
Hence when you view your statement and see Lincoln Savings Bank, know that such a transaction is from Cash App. It is worthy of note, however, that Sutton Band which is entirely another bank that is in charge of the issuance and maintenance of Cash App cards.
In summary, Cash App is an easy payment application like PayPal and the others listed in this article. It is easy to use but sometimes confusing especially when it was to do with recognizing it on your bank statement.
Unlike what you may have thought, Cash App transactions are not invisible especially as it has to do with your bank account. All you have to do is to get accustomed to your card details it the name of the bank that manages the Cash App as discussed above.
The details that show up on your statement are those of your transaction between your linked bank account and Cash App not the transaction with others. Your transaction with others using Cash App can been viewed by checking your transaction history on the App. Tag- how does Cash App show on bank statement.