I've used peer-to-peer services for years, and Cash App has become my go-to. Its combination of ease of use with expanded financial features exceeds what some traditional banks offer.

Therefore, it's no surprise that Kiplinger readers also think highly of the platform. Each year, Kiplinger holds its Readers' Choice Awards, an online survey conducted in the winter, to learn which services and products you recommend most. For peer-to-peer payment services, we asked readers to rank their favorites based on ease of use, most recommended and overall satisfaction.

With this in mind, I'll show you three reasons why Kiplinger readers ranked Cash App so highly. I'll also cover other peer-to-peer services earning high marks in our survey.

1. Cash App is simple to use

Many Kiplinger readers rated Cash App highly for its ease of use. Opening an account takes a few minutes, and you can link your bank using your debit card.

From here, moving money from your bank account to Cash App is instant, making it quicker to send payments and more beneficial for recipients, who don't have to wait days for funds to arrive. I regularly use it to send payments to stylists, lawn care companies and pet sitters and have never experienced problems.

Most importantly, it's free to send money using bank funds or a debit card. If you use a credit card, there's a 3% transaction fee, though some credit card companies can treat this as a cash advance, imposing fees and higher interest charges, so double-check with your bank before using this method.

Along with ease of use, Cash App also excels in this one category.

2. Cash App offers advanced security features

Sending money online is never a 100% comfortable process, yet Cash App does a lot to dispel any fears you might have. When you set up an account, you can activate two-factor authentication. How it works is that it texts or emails a code you confirm before accessing your account.

The platform also has other ways to safeguard your cash. You're required to set up a PIN code, fingerprint or face ID before sending money. This ensures that every time you send money, it comes from you, and not someone pretending to be you.

Cash App also watches your payments closely for any signs of errors. To demonstrate, if you try to send the same amount of money to the same recipient in a short time, it will ask if you meant to send it, helping you avoid any unintended duplicate payments.

3. Cash App offers other financial services

While many use Cash App for sending money, it has a wealth of other features you can use, such as:

• A high-yield savings account: Earn up to 3.25% APY when you spend $500 monthly with your Cash App card
• Investing: Buy stocks and ETFs from your favorite companies starting at $1
• Parental tools: Teach your kids and grandkids responsible cash use with custodial accounts for children six to 12, and parent-sponsored teen accounts from ages 13-17
• Tax filing services: Unlike many tax services, with Cash App, you can file your taxes for free no matter how complicated your tax situation is
• Accepts cash from other providers: If you have friends who need to send you money but don't have Cash App, you can use the Pool feature to receive money via Apple Pay or Google Pay

Along with Cash App, the other two top-rated peer-to-peer payment services were Zelle and Apple Cash. In both instances, Kiplinger readers remarked that the services had excellent customer service and delivered superior satisfaction.

Overall, Kiplinger readers chose Cash App as the top peer-to-peer payment service provider for its ease of use, security features and robust financial offerings.

Is it for everyone? No. If you're uncomfortable using digital services like Cash App, you can always pay via check or cash. Keep in mind that peer-to-peer services, such as Cash App, don't offer FDIC insurance, so I would only use them for payment services, not a standalone bank account.

However, if you send peer payments often, this is among the easiest and most secure ways to do so.

Here's how to get started with Cash App:

• Link your bank account using your debit card for instant transfers
• Enable two-factor authentication
• Set up a PIN to protect outgoing payments
• If you plan to use your credit card for payments, check with your bank to see if they charge cash advance fees
• Explore other financial features, such as savings, investing or even filing your taxes for less

Digital payment apps can simplify your day-to-day finances, but a financial professional can help ensure you're also making progress toward your long-term financial goals.

Use the Bankrate tool below to connect with a financial professional who can help you build a personalized financial strategy.

Related content

• Kiplinger Readers' Choice Awards 2026: Peer-to-Peer Payment Services
• How Apps Are Impacting Traditional Banking
• Storing Cash in PayPal, Venmo or Cash App Carries Hidden Risks, CFPB Says