What is Cash App Bank? The address of Cash App Bank

Cash App is not an independent bank but operates as a financial application in collaboration with traditional banks to provide services. Its two main banking partners are Lincoln Savings Bank and Sutton Bank, each playing a distinct role in the system. So, what is the specific address of Cash App Bank, and what are the responsibilities of each partner bank?

1. Which bank is Cash App linked to?

Cash App partners with two banks in the United States: Lincoln Savings Bank and Sutton Bank. Both are FDIC-insured financial institutions, ensuring that users’ account balances are protected up to $250,000.

Lincoln Savings Bank is primarily responsible for generating account numbers and bank routing numbers, allowing users to receive direct deposits and set up automated banking transactions. Meanwhile, Sutton Bank serves as the issuer of the Cash Card, a physical debit card that enables users to make in-store purchases or withdraw cash from ATMs.

However, it’s important to note that Cash App does not offer an immediate sign-up bonus when opening a new account through Lincoln Savings Bank or Sutton Bank. If you’re looking for banks that provide sign-up bonuses and deposit incentives, you may want to explore the list of the most attractive banking offers available today.

2. Which bank does Cash App partner with?

Cash App is not a bank but a digital payment platform. To provide financial services such as bank accounts and debit cards, Cash App partners with two traditional banks in the United States: Lincoln Savings Bank and Sutton Bank.

Both of these banks are members of the Federal Deposit Insurance Corporation (FDIC), ensuring customer deposits of up to $250,000 in case of bank failure. However, it is important to note that Lincoln Savings Bank and Sutton Bank are privately owned and not publicly traded.

2.1. Sutton Bank

Sutton bank is a community bank headquartered in Ohio, USA, established to serve the financial needs of individuals, households, and small businesses in the region. With a strong focus on customer service and small business support, Sutton bank has grown significantly within its area and has become a key partner of many fintech companies, including Cash App.

Key information about Sutton bank:

• Full name: Sutton bank
• Headquarters: 1 S Main St, Attica, OH 44807, USA
• Account type supported for Cash App: checking account
• Number of branches: 8
• Total assets: approximately $1.5 billion
• Role in Cash App: issuing the Cash Card debit card for users

2.2. Lincoln Savings Bank

Lincoln savings bank is a well-established financial institution founded in 1902 in Iowa, USA. It specializes in traditional banking services such as savings accounts, loans, and business banking. Additionally, Lincoln savings bank is a crucial partner for many fintech companies, supporting digital banking transactions and electronic payments.

Key information about Lincoln savings bank:

• Full name: Lincoln savings bank
• Headquarters: 508 Main Street, Reinbeck, IA 50669, USA
• Account type supported for Cash App: checking account
• Number of branches: 16
• Total assets: approximately $1.8 billion
• Role in Cash App: providing account numbers and routing numbers for banking transactions

3. Which bank does Cash App use to process direct deposits?

To process direct deposit transactions, Cash App partners with Lincoln Savings Bank. Since 2017, Lincoln Savings Bank has played a crucial role in providing account numbers and routing numbers for Cash App users, enabling them to receive salaries, benefits, and other direct payments into their accounts.

On the other hand, Sutton Bank is not involved in processing direct deposits. Its primary role is issuing the Cash Card (also known as the Cash App Card), which is why users often see Sutton Bank’s name on the card. However, if users need to receive direct deposits, they must use the account details provided by Lincoln Savings Bank.

Through its partnership with these two banks, Cash App is able to offer both direct deposit services and debit card functionality, making it easier for users to manage their finances and conduct transactions conveniently.

4. How to activate the direct deposit feature on Cash App

If you want to receive your salary or other direct payments through Cash App, you first need to obtain your account number and routing number. Follow these steps to activate the direct deposit feature:

Step 1: Obtain your account and routing number

• Open the Cash App on your phone.
• Tap the “Money” tab on the home screen.
• Here, you will find your routing and account numbers displayed below your available balance.
• Copy this information for use in setting up direct deposits.

Step 2: Set up the direct deposit form

• Open Cash App and go to the “Money” tab.
• Select “Direct Deposit.”
• Tap “Get Direct Deposit Form” to generate an application form.
• Fill in the required details, including your name, address, and banking information.
• Once completed, select “Email Form” and enter the email address of your HR department or payroll administrator.
• After submitting the form, your salary or payment will be directly deposited into your Cash App account according to the payer’s scheduled payment cycle.

Cash App does not have its own banking headquarters but relies on Lincoln Savings Bank for processing banking transactions and Sutton Bank for issuing the Cash Card. If you need to receive direct deposits, your account details will be provided by Lincoln Savings Bank. Meanwhile, if you use the Cash App Card, Sutton Bank’s name will appear on the card. Understanding the role of each bank helps you better manage your Cash App account and transactions.