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Articles / Does Cash App work in Europe? Alternatives for 2023

Does Cash App work in Europe? Alternatives for 2023

Franklin Carneiro da Silva| Updated May 16th, 2023

Unfortunately, Cash App is not yet available in European countries – it’s only available for US and UK residents. If you live in the US or UK and want to send money to a friend who lives in Germany, or another European country, you cannot do so. The company plans to expand internationally, so we will be paying attention to it.

This article will present solutions for the payment (transfer of money between users) and the investment sides of the Cash App. With no further ado, let’s begin!

How does Cash App differ from its peers?

Simplicity. That’s right. The app is relatively painless. It allows you to send and receive money, gives you access to several banking features such as obtaining your paycheck and tax returns, and you may use it as an investing platform to increase your wealth! Users also have access to a customisable debit Visa card, Cash Card, to withdraw money from ATMs and pay online and in stores.

Moreover, Cash App investing is also a feature with promising results in the financial brokerage arena, but it is still a new kid on the block since it only launched in the last quarter of 2019.

When is Cash App coming to Europe?

Cash app started as a payment app created by Square, Inc in 2013. In January 2021, more than 30 million people in the US and UK were using Cash App.

In 2016, the company opened its European headquarters in Dublin but has yet to launch its services in Ireland and Europe.

Meantime, if you live in Belgium, Germany, Greece, Ireland, Italy, Netherlands, Norway, Portugal, Romania, Russia, Spain, Sweden, Switzerland, Ukraine, or another European country, you cannot use Cash App.

Alternatives to Cash App in Europe:
As a Payment App

Particularly in Europe, banks were slow to embrace the new opportunities that the internet could bring to every customer, hoping that their decades of developing “trusted brands” would still play a crucial role in a potential client’s final decision to adhere to their services.

However, that was not enough to prevent the new incumbents from quickly gaining a significant market share as their tools used to transfer money between people were much easier, painless, and cheaper! And that was how Monese, Vivid, Wise and Revolut were born:


Monese is the European equivalent of Cash App. It’s a digital bank that works across Europe and the UK. Use the code IITW to get £10 after the first successful card transaction.


A new mobile banking and investing app. Offers commission-free trading and cheap online banking with a cashback program. Currently, it is only available in Germany, France, Italy and Spain.


Formerly Transferwise, Wise is a simple way to transfer money abroad in 40+ currencies with a low pricing structure. It offers a debit Mastercard, and over 16 million customers trust it.


Banking App with transparency and flexibility compared to traditional banks. Users can spend money abroad with the Revolut Visa Card using real exchange rates. It has over 25 million customers worldwide.

Cash App Europe Alternatives: As a Payment App

1# Monese

Monese logo
Visit Monese

Monese at a glance

Currency exchange feeUp to 2.5% of transaction value (min. €/£2)
ATM withdrawal feeUp to €/£1.5 per withdrawal
Monthly feesUp to €/£14.95
Mastercard debit card
Mobile app
Regulators“Tied agent” to an entity regulated by FCA

Monese is a British digital bank that offers current account and money transfer services. It has a slick and modern mobile app and a debit card and charges low fees compared to traditional banking. Monese works across Europe and the UK and offers a free account for those who wish to use the more basic service. Monese provides the following plans:

  • Simple: No monthly fee; Free and instant account in GBP, EUR and RON; Great for spending, travelling and sending money abroad;
  • Classic: €/£5.95; Starter features + Lower fees and higher allowances;
  • Premium: €/£14.95: Classic features + lowest fees, highest allowances, and VIP Customer Support.

To give a practical example of how these fees differ, in the Simple plan, you would be charged 2% for transfers in other currencies. However, within the Premium plan, no charge would be made. That’s why you notice on the “at a glance” text that we state the fees as “up to”.

With a Monese account, users can receive their salaries, make deposits, withdraw money from ATMs, and make card payments. For those interested, Monese allows you to open an account in one of three different currency accounts: EUR, GBP and RON (only people from the UK can open an account in GBP). Your money is safeguarded under the EU Electronic Money Directive 2009/110/EC and UK Electronic Money Regulations 2011.

New users can enter the code IITW upon signup to get €/£10 after the first successful card transaction.

Cash App Europe Alternatives: As a Payment App

2# Vivid

Visit Vivid

Vivid at a glance

Currency exchange fee0.50%
ATM withdrawal feeFree up to €200 a month
Monthly feesUp to €9.90
Debit card(VISA)
Mobile app
Regulators“Tied agent” to brokers regulated by BaFin

Founded in 2020, Vivid is a very recent German digital bank created to help you make better decisions for spending, saving, sending, and investing your hard-earned money. It starts by offering you the basics: a checking account where you can easily organise your spending without letting expenses go out of control! In turn, you grow your savings and reach your financial goals faster.

You can also benefit from a debit card that can give you up to 25% cashback on your spending, allows you to withdraw money in any ATM up to €200 for free, and gives you free money transfers worldwide. For €9.90 a month, you get Vivid Prime, which offers all the standard/free plan features plus higher limits on money withdrawal (€1,000), higher cashback per month (€100), and much more!

Besides, you can invest commission-free in over 3,000 Stocks and ETFs, in over fifty cryptocurrencies and precious metals (with fractional shares – small sums starting from one cent). On the downside, you have a 0.50% markup fee for the currency exchange rate (EUR to USD and vice-versa), and it is only available in Germany, France, Italy, and Spain.

In terms of safety, Vivid operates as an outsourcing partner of Solarisbank AG to provide bank account services, debit card services, and foreign exchange transactions. It also uses CM-Equity AG as the brokerage for transactions of financial instruments. Solarisbank AG and CM-Equity AG are both regulated by the German Federal Financial Supervisory Authority (BaFin).

Cash App Europe Alternatives: As a Payment App

3# Wise

Does Cash App work in Europe? Alternatives for 2023 1
Visit Wise

Wise at a glance

Currency exchange fee€/$0
ATM Withdrawal feeFree up to €200 a month
Monthly fees€/$0
Debit card(Mastercard®)
Mobile app

Wise, formerly known as TransferWise, is a peer-to-peer money transfer service with the primary purpose of saving you money from hidden fees charged by traditional banks. It was developed by two Estonian, Taavet Hinrikus (Skype’s first employee) and Kristo Käärmann, who felt they were being overcharged when travelling abroad.

Ever since, Wise has seen remarkable growth! It gives you access to a multi-currency account where you can convert money internally – between balances – (example: $1000 to €1000 will cost you $4.18). Besides, you can receive, send money, and spend money (with your debit card). You can also withdraw cash from ATMs, but only two free withdrawals up to a total of €200 each month (a 1.75% applies after the €200 amount).

The software is super intuitive, both in mobile and PC versions, which means you will get along pretty quickly with its main features.

In terms of safety, Wise is an authorised money institution under the Financial Conduct Authority (FCA). It maintains strict adherence to all FCA standards and strives to make each transaction as safe and secure as possible.

Cash App Europe Alternatives: As a Payment App

4# Revolut

revolut logo
Visit Revolut

Revolut at a glance

Currency exchange fee€0
ATM withdrawal feeFree up to €200 a month
Monthly fees€0 (Standard Account)
Debit card(VISA)
Mobile app

Revolut has the ambition to replace your bank account. The Fintech provides a business model dedicated to every individual who wants to get things done without focusing too much on unnecessary complexities involved in traditional banking. A good solution for your daily needs.

The UK Fintech enables you to send money worldwide quickly and securely, relying on the real exchange rate, which can let users save a huge amount of money. You can use this feature to easily split bills with your family or friends or get paid back.

If your account is the Standard one, you will have a limit of €200 in free ATM withdrawals each month, for instance. In paid plans, starting from €2.99, you will be offered priority 24/7 client support, higher limits on withdrawals, free overseas medical insurance, and other perks.

Revolut also includes a trading area – US stocks, precious metals, and cryptocurrencies.

Final Verdict on the Payments Apps

First, you need to be aware of your needs. If you believe you will convert a high volume of money from one currency to another, a premium plan on Vivid or Revolut can be better. On the other hand, if you will only do it on lower amounts and a few times, Wise or Monese might be good choices.

We do believe you will be well suited to either one. Both companies do exactly what they state: transparency, low fees, and hassle-free on user experience.

Their loyal customer base did not appear out of thin air. Their expertise, simplicity, and being very upfront about what they charge have given them a critical advantage over their competitors.

Alternatives to Cash App in Europe:
As an Investment App

Whether you came for the investment side of Cash App (including cryptocurrencies), the following paragraphs will answer your concerns!

Even if Cash App Investing was permitted to European investors, we firmly believe that you would be better off with the existing alternatives in the market. But we also see the entrance of Cash App in Europe with good eyes since it will heat the investment industry, which means cheaper options to allocate your capital!

Cash App is still extremely limited in the number of financial products you can trade: US stocks, ETFs, and Bitcoin (elsewhere in the Cash App). It is not ideal for someone looking for mutual funds, bonds, options, futures, and CFDs. But even if you came looking for free commission stock and ETFs trading, you can find more promising platforms in Europe.

After check-marked some criteria such as top tier regulators, customers’ feedback, platform ease of use, accessibility for European investors, and costs, we came to the following alternatives:


With over 30 million customers, it provides commission-free stock trading. You can also copy other traders/investors.
Disclaimer: 77% of retail CFD accounts lose money.

Interactive Brokers

Founded in 1978, IBKR is one of the world’s most trustworthy brokers. It offers an enormous range of financial products (stocks, ETFs, Options,…), and low currency conversion fees (FX fees).
💡 Interactive Brokers also launched IBKR GlobalTrader, a modern mobile trading app to trade Stocks, Options and ETFs, ideal for novice investors.


Plus500 is a multi-asset online broker that offers no commissions when trading CFDs in Indices, Forex, Commodities, Cryptocurrencies, Shares, Options, and ETFs. It also recently launched Plus500 Invest for those who want to invest in real shares.
Disclaimer: 86% of retail CFD accounts lose money when trading with this provider.


One of the leading online brokers in Europe due to the low-cost structure (2.5M+ customers). A great choice for price-conscious buy-and-hold investors.
Disclaimer: Investing involves risk of loss.

Trading 212

Commission-free stock and ETF trading (+10,000 global stocks and ETFs), 0.15% of foreign exchange fees, and presents fractional shares. New users get one free share of up to €100 by using the code IITW.
Disclaimer: 76% of retail CFD accounts lose money when trading with this provider.

Vivid Invest

As a feature inside Vivid, it gives you access to 3,000+ stocks and ETFs. It charges a 0.50% currency conversion fee. Crypto trading is also available and with one free trade per month in the standard plan.

Disclaimer: Investing involves risk of loss.

Which app is better for me?

There is no one-size-fits-all app. So, ask yourself: What are your needs? Do you only value low commissions, or do you give more emphasis to a robust online platform? Does the range of investment products matter to you, or are you just looking for the payment side?

The best app will depend on your profile, preference, and objectives. Explore the websites above and decide for yourself!

We hope we have given you some valuable contributions to your investment and payment journeys!

A reminder that the above should not be construed as financial advice and should be considered information only.

Hope we helped, and leave your comments below.

Franklin Carneiro da Silva
Co-Founder & Fintech Analyst

Franklin is a CFA Level III Candidate with 3 years of experience in Wealth Management as a Fund Research Analyst and the Host of the "Edge Over Hedge" YouTube Channel.