Cash App Canada: Why It Doesn't Work & 3 Alternatives

Cash App is a popular peer-to-peer fintech app that allows users to easily send and receive money from their friends and family. With its user-friendly interface, quick transaction times, and various features such as the Cash Card, it has become a favorite among many.

Unfortunately, as of 2024, Cash App is not available in Canada since the app has not expanded its reach there yet. However, Canadians can still enjoy the benefits of peer-to-peer fintech apps through alternatives like Tangerine, Remitly, and Wise.

Each of these alternatives has their own strengths, which we walk through in this guide. All three provide Canadians with an easy and secure way to transfer money to their loved ones, even if Cash App is not available.

Does Cash App Work In Canada?

Although Cash App started in the United States and later expanded to the United Kingdom, the company has not expanded access to Canada. To use Cash App, users need a debit card issued in either the US or the UK.

For a fully unlocked Cash App account with no sending limits, users must prove their legal residency status in either country by providing documentation, such as an American social security number. These limitations prevent Canadians from using Cash App at this time.

Does Canada Have Cash App?

To use the Cash App, users need to have a debit card issued in the United States or the United Kingdom. However, even if you have a debit card from either of these countries, there are still some limitations on your account until you verify your identity.

To raise your Cash App limits and get access to the app's full features, you will need to verify your account by providing:

• Your full name;
• Date of birth;
• Last four digits of your American social security number.

As a regulated financial service, Cash App requires users to enter their social security number to adhere to Know Your Customer (KYC) regulations. These established laws help prevent identity theft, money laundering, financial fraud, terrorism financing, and other financial crimes.

Here Are the Best Alternatives to Cash App

Cash App is know for its easy and quick transactions, the ability to buy and sell Bitcoin, and Cash Boost discounts at popular retailers and restaurants. Few apps like Cash App provide customers with access to the stock market too. Perhaps most notably, Cash App charges no monthly maintenance fees.

While it is not available in Canada, there are plenty of other peer-to-peer fintech apps available for Canadians that offer similar services, such as Tangerine, Remitly, and Wise. Below, we've reviewed these Cash App alternatives, along with a few runner-ups worth considering:

Tangerine — Best Comprehensive Banking App in Canada

Tangerine is one of Canada's best-known online banks, with a digital chequing account and a savings account with at interest rate of up to 1%. What really sets them apart is their separate credit card with no annual fee and high cash back (15% for your first 2 months and 2% thereafter). They even offer a low-fee investment platform design for long-term wealth building.

Tangerine provides all of this for no monthly maintenance fee. As an online-first bank, Tangerine's mobile app allows you to manage many accounts with their tracking tool and spending categorization tool.

• Account: Chequing Account
• ABM Access: Free access to 3,500 Scotiabank ABMs
• Monthly fee: $0
• Overdraft: Yes
• Interest (APY on balance or savings): 1%
• CDIC-insured: Yes (as a subsidiary of Scotiabank)
• More info: See our Tangerine review or visit their website.

Wise Account — Best Multi-Currency Account

You might be familiar with Wise if you often need to send or receive money abroad. Formerly known as TransferWise, this UK-based fintech made its name by enabling cheap and fast international money transfers, bypassing traditional SWIFT transfers — which makes it a frequently featured player in Monito’s comparison engine! Wise is excellent for transferring money cheaply from Canada to the United States or the United Kingdom.

Aside from its money transfer product, Wise also offers a multi-currency account, which comes with a debit MasterCard. Its main feature is that it allows you to hold money in more than 50 currencies and gives you account details for 10 of them, including CAD, USD, EUR or GBP (though note that you will still have to pay a small fee actually to exchange money).

• Account: Multi-Currency Account
• Monthly fee: $0
• Overdraft: No
• Interest (APY on USD balance): 3.9%
• FSCS-insured: No (but partners with FSCS-insured Barclays UK)
• More info: See our Wise Account review or visit their website.

Remitly — Best Money Transfer Alternative to Cash App

Remitly is a fantastic option for international peer-to-peer payments. It offers cheap instant and economy transfers, making it accessible to users with different needs. Additionally, instead of charging high fees, Remitly only adds a small exchange rate markup that is among the best in the industry. Remitly offers a promotional FX rate for the first $999.00 you send.

In fact, Remitly was ranked the cheapest option on Monito in 2024 for transfers from Canada to several popular destinations, including Mexico, India, the Philippines, Colombia, and Pakistan.

Use Monito's real-time comparison engine to stay current on the best rates.

• Transfers from $0 - $499.99: $1.99
• Transfers over $500: $0.00
• International Money Transfer Runner-Ups: Wise, XE Money Transfer
• More info: See our Remitly review or visit their website.