Thanks to apps like Cash App, digital money sending has become increasingly efficient and straightforward. You can now transfer money to different parts of the world from the comfort of your home without stress.
Is Cash App available in Australia? No, Cash App is still not available in Australia, but there are other digital platforms like Cash App in Australia that are as reliable, fast, and secure. In this article, we will examine why Cash App is not available in Australia, the countries where Cash App is available, and the eligibility criteria for opening an account. Also, we will look at the top 10 alternatives to Cash App you can easily access in Australia and their key features.
Is Cash App Available in Australia?
Cash App is still unavailable in Australia at the time of this writing. This is because of the complex local financial regulatory framework that guides and regulates financial institutions, apps, and platforms in Australia. Cash App is an American financial platform available in the United States and the United Kingdom. To open an account with Cash App, you must be 18 years or older, be a legal resident of the UK or US, and have your identity verified.
Will Cash App Ever Come to Australia?
There is no news or indication that Cash App Australia is coming up soon. Australia has a very restrictive banking law that prohibits foreign digital banks from penetrating the market or operating in the country. Since Cash App is an American-owned financial app, it cannot penetrate Australia. If the law changes in the future, Cash App may become available in Australia. However, there are other top alternatives you can explore. They are captured in the section below.
10 Top Apps Like Cash App in Australia
Here are the best apps, like Cash App in Australia, that are easy to use. They are as follows:
1. Revolut
Revolut has impressive, extensive features, making it the best alternative to Cash App in Australia. Similar to the Cash app, it is a mobile wallet that facilitates peer-to-peer AUD transfers to family and friends in Australia. The beauty of this app is that its service is free, and transactions are carried out in real time.
Beyond enabling peer-to-peer transactions, it allows you to invest in the stock market. You can access three commission-free trades monthly on the free plan.
Significant features of Revoult include:
- It allows its users to keep their balances in multiple currencies, making it suitable for international payments
- It enables its users to send money to people in other countries, and it has one of the best rates in the world
- Revolut is super helpful to frequent travelers as it offers perks such as an allowance to withdraw from an ATM for free and lounge access.
- It allows for free foreign transaction fees.
2. UP
UP is one of the emerging digital banks in Australia, and it was launched on March 28th, 2018. Since its inception, it has gained over 500,000 customers, marking a significant growth in a competitive market. A standout feature of UP is its simplicity and ease of use. The setup process is quick and user-friendly, similar to Cash App. Opening a UP bank account can be done online, eliminating the need to visit a physical bank.
The convenience of opening an account is a significant factor behind UP’s rapid growth. Users can get started in just a few minutes, similar to the experience with Cash App.
Key features of UP include:
- Savers: Sub-accounts designed for saving towards specific goals, such as a new car, life savings, or a holiday.
- International Use: Unlike Cash App, UP extends its functionality to foreign countries and offers competitive conversion rates.
3. SingX
If you need to send money to the US, the UK, or another major destination, SingX is an excellent alternative to Cash App if you live in Australia. SingX is one of Australia’s best money apps, and it has an impressive rate, only after Remitly. Its rates are competitive for money transfers to countries like Canada, India, the US, the UK, and the Eurozone.
Significant features of SingX include:
- No hidden charges
- Competitive exchange rates
- Good tracking mechanism
4. Wise
Wise is one of the top alternatives to Cash App available in Australia. It is a financial platform that allows you to manage money across borders without incurring international transaction fees and high exchange rates. With Wise, you can send money to over 80 countries, and it supports more than 50 currencies.
Key features of Wise include:
- Customizable reports that allow you to tailor your financial reports to suit your needs.
- Activity dashboards that enable you to get a clear overview of your transactions and financial activity.
- Data security that keeps your financial information protected.
- Invoice management that manages your invoice
- Allows electronic payment across borders
5. Remitly
Remitly is your best choice if you’re seeking an affordable online international money transfer service in Australia. Remitly is one of the top digital remittance services that aims to make payments more transparent in Australia and offers the best rates for transfers from Australia. Remitly is the best pick if you are sending money to the following destinations:
- India
- Ghana
- Philippines
- Nepal
- Pakistan
Despite fluctuating exchange rates, transferring money to these destinations is usually economical on Remitly.
Some of the critical features of Remitly include:
- It is a fast platform for sending money across the borders. For express, the recipient gets the money after a few hours of transfer, while for the economy, the recipient gets the money between three to five working days.
- Customer service support comes in five languages: English, French, Filipino, Spanish, and Vietnamese.
- Its exchange rates are highly competitive.
6. AvidXchange
AvidXchange is a leading digital bank specializing in automating the accounts payable process for middle-market businesses, enhancing speed, efficiency, and accuracy. It is a top alternative to Cash App in Australia, and similar to Cash App, it streamlines payment and invoice processing, AvidXchange supports business growth and success. It also ensures transparency, making audit reports widely accessible to facilitate informed financial decisions.
Critical features of AvidXchange include:
- eTransfer
- Invoice and Payment Processing
- PO Reconciliation
- Approval Process Control
7. PEX API
PEX API is an excellent alternative to Cash App in Australia. It seamlessly integrates with your systems to create an automated and customized payment platform for all transactions. It lets you synchronize business spending with operations, providing greater control over expenditures.
Key features of PEX API include:
- Real-Time Purchase Authorization
- Fully Automated Administrative Functions
- Integration with Back-End Systems
- Budgeting and Forecasting
- Bank Reconciliation
8. Currencyfair
If you are to receive money for your friends or family from South Africa or the US, Currencyfair is the best option to use. It offers one of the cheapest rates, especially on transfers from countries like UAE, South Africa, and the US. With Currencyfair, you can transfer and receive money from over 50 world countries in over 20 currencies. It allows for same-day transfers of major currencies from a licensed, trusted digital source.
Key features of Currencyfair include:
- It has an expansive marketplace for peer-to-peer transactions
- Fully regulated and licensed
- Supports a broader range of countries for sending and receiving money
9. Payoneer
Payoneer stands as the best business alternative to Cash App in Australia. Payoneer offers a range of advanced business solutions that facilitate easy international financial transactions in seven currencies such as AUD, EUR, USD, CAD, GBP, CNH, and JPY.
This digital platform is integrated into platforms such as Airbnb and Amazon and thus excels for global e-commerce and businesses. Payoneer charges a conversion rate of just 0.5%, making it an economical option when converting your money in foreign currency into AUD.
This platform excels for global businesses and e-commerce, thanks to integrations with big-name platforms such as Amazon and Airbnb. Similar to Cash App, Payoneer charges 3% for credit card transactions, which is slightly higher than that of Cash App, which is 2.75%.
Key features of Payoneer
- Facilitates real-time payments
- Instant payment.
- Accepts credit cards and debit cards.
- Fraud protection tool
- User-friendly interface.
10. PayPal
PayPal is the largest global peer-to-peer network, and it is well respected for its extensive range of services and its advanced fraud detection mechanism. It has the most comprehensive user base, and you can easily send, receive, request, and spend money with merchants and vendors worldwide.
The beauty of this is that it is also available in Australia, and you can easily create an account and begin the transaction. Despite being the largest peer-to-peer network, it does not have a stock investing feature, and its exchange rate for international money transfers is high.
Key features of PayPal
- It offers a pay-later feature
- You can easily buy Bitcoin, similar to the Cash App
- Flexible payment option
- Loyalty management
- Advanced security technology
Conclusion
Cash App is an American-based digital financial platform not available in Australia; it is available only in the UK and the US. However, as a resident of Australia, you can access the top 10 listed financial platforms to carry out your transaction as they operate similarly to Cash App, each with its unique features and functionality.
