Is Cash App Available in Australia? This is a question many of our readers have been asking us whenever they read about apps like beforepay. Cash App is a well-known American financial platform with the main purpose of facilitating instant and free money transfers but is available in Australia? Can Australians download and use the Cash App?
Is Cash App Available in Australia?
No, Cash App is not available in Australia. Australians cannot download or use the Cash App because the App is only available in the United States and the United Kingdom. It is more used in the United States than in the United Kingdom.
Many people in Australia have been trying to use the payment app for their transactions. However, it is not currently available to them. With the benefits and features that the Cash App offer, it is not surprising that people would be interested in using the app in many countries.
The app serves as a great social payment solution with features similar to that of PayPal. There are other apps in Australia that are similar to the CashApp app. We would explore them in a bit.
Will Cash App Ever Come to Australia?
Currently, there are no indications or news that Cash App will come to Australia either now or in the future. Cash App isn’t a bank, it partners with banks to offer financial services such as cards, saving and checking accounts, and money transfers.
One of the main reasons Cash App might not expand to Australia is that Australia has very restrictive banking laws which prohibit foreign digital banks from operating in the country and penetrating the financial markets. However, this law might change in the future, but nobody is sure about that.
Why Isn’t Cash App Available to People Outside of The US and UK?
Cash App is well known in the United States, but this cannot be said of the United Kingdom. Cash App isn’t well known in the UK. Maybe this is the reason Cash App hasn’t expanded to other European Union countries and Australia. However, this does not indicate that they won’t be expanding later in the future. They might be or not!
However, this is a probability that the company might want to expand later in the future because the number of people in the United States without digital banking accounts keeps reducing year by year. Also, the fierce competition between neobanks and traditional banks might weaken Cash App in the United States, and it might want to expand.
Who is Eligible to Open a Cash App Account?
It is already obtained that only the residents of the US and UK can use Cash App. However, not all citizens are eligible to have a cash app. To have eligible to open a Cash App, you must be older than 18 years and have a functional mobile phone number.
In some cases, additional security measures may be taken in place in order to carry out KYC. The eligibility requirement has been clearly stated on the Cash App terms and conditions page for your perusals.
Best Apps Like Cash App in Australia
There are many alternative apps like Cash App in Australia. But we will be looking at the top 4. Below are the best apps like Cash App in Australia.
UP is one of the new digital banks in Australia. It was launched on March 28th, 2018, and has acquired over 500,000 customers, which is a good one.
One of the major features that stand Up out is the easiness of setup and use, it is easy to use and fast, just like Cash App. It is also very easy to open UP bank account online without going to the bank.
One of the reasons behind the growth is the ease of opening an account. You can be up and running in a matter of minutes, just like with Cash App.
Some of the key features of Up are:
- Savers – a sub-account that you can use to save up money for a goal, such as a new car, life savings, a holiday, and so on.
- Extends and works in foreign countries, unlike the Cash app. Also, it offers a fair conversion rate.
Wise is one of the best alternatives to Cash App that is available in Australia. It is a financial platform that allows you to manage your money across borders without international transaction fees and high exchange rates. With Wise, you can send money to over countries, and it supports over 50 currencies.
Some of the key features of Wise include:
- Customizable reports
- Activity dashboards
- Data security
- Invoice management
- Electronic payment across borders
AvidXchange is one of the leading digital banks that helps to automate the account payable process of middle-market businesses to boost speed, efficiency, and accuracy.
It helps boost business growth and success by automating payment and invoice processing routes, also, it ensures visibility which makes the audit reports widely available to help you take informed financial decisions on the business.
Some of the features of AvidXchange include:
- Invoice and payment processing
- PO reconciliation
- Approval process control
4. PEX API
PEX API is one of the best alternatives for Cash App in Australia. It easily integrates with your systems to give you an automated and customized payment platform to process all transactions.
Also, PEX API allows you to sync business spending with the business operations, giving you control over the spending.
Some of the key features of PEX API include:
- Authorizes purchase in real-time
- Offers fully automated administrative functions
- Allows you to sync the app with your back-end systems
- Budgeting and forecasting
- Bank reconciliation
Cash App is not available in Australia. It is only available to residents of the United States and the United Kingdom who are above 18 years and have a functional phone number.