Cash App has a new high-yield savings feature that lets Cash App Card users earn an interest rate up to 4.50%. Users will need to receive direct deposits of at least $300 each month.

Here’s a deeper look into Cash App’s features, fees and more. What Is Cash App? Cash App is a P2P payment app that lets individuals quickly send, receive and invest money.

Cash App competes with the likes of PayPal, Acorn, and other online personal finance service providers. But what does it actually offer?