Looking to find out if Cash App works in Europe? You’re not alone. With Cash App dominating the U.S. market, many Europeans wonder whether they can access the same convenient peer-to-peer payments, debit cards, and investment tools.
In this guide, we’ll cover everything about Cash App Europe – its availability, timelines, and top alternatives you can use right now.
Is Cash App available in Europe?
Unfortunately, Cash App is not yet available in Europe – it’s only available for US residents.
Can you use Cash App to make payments overseas?
Yes, if you are travelling outside the US, you can use your Cash card for international transactions.
Unfortunately, you cannot send money to a friend who lives in Germany or another European country.
When is Cash App coming to Europe?
There is no date for a future expansion of Cash App in Europe.
Cash app started as a payment app created by Square, Inc in 2013. In August 2024, more than 55 million people in the US were using Cash App (it was previously available to UK residents, but it closed down on September 15th, 2024). In 2016, the company opened its European headquarters in Dublin but has yet to launch its services in Ireland and Europe.
Meanwhile, you cannot use Cash App if you live in Belgium, Germany, Greece, Ireland, Italy, Netherlands, Norway, Portugal, Romania, Russia, Spain, Sweden, Switzerland, Ukraine, or another European country.
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 Wise, and Revolut were born:
Wise
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 10 million active customers trust it.
Revolut
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 40 million customers worldwide (28 million in Europe).
Local Cash App alternatives in Europe
Most European countries have their own popular local P2P payment methods, such as:
- MB Way in Portugal
- Bizum in Spain
- Paylib / Lydia in France
- Swish in Sweden
- TWINT in Switzerland
- iDEAL in the Netherlands
- Bancontact in Belgium
Wise at a glance
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: convert $1,000 to € will cost you $7.65). 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. Above €200, there is a €0.50 fee per withdrawal plus a 1.75% fee.
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 strictly follows all FCA standards and strives to make each transaction as safe and secure as possible.
Revolut at a glance
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 Revolut can be better. On the other hand, if you will only do it in lower amounts and a few times, Wise might be a good choice.
We believe you will be well suited to either one. Both companies offer exactly what they state: transparency, low fees, and hassle-free 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 were permitted for 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.
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:
eToro
With over 30 million customers, it provides commission-free ETF trading (other fees apply). You can also copy other traders/investors.
Disclaimer: eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
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.
XTB
It offers commission-free stock and ETF trading (in some European countries) and low spreads on hundreds of markets through CFDs on Stocks, Forex, Indices, Commodities, and Cryptocurrencies. Awarded multiples time as the best Forex and CFD broker.
Disclaimer: 76-83% of retail CFD accounts lose money.
DEGIRO
One of the leading online brokers in Europe due to the low-cost structure (2.8M+ 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.
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.
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.
