How To Transfer Money From Cash App To Bank Account
Written by
Andrea Norris
Edited by
Melanie Grafil
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One of the most popular payment platforms available, Cash App makes moving money between accounts easy — and it can be done with a few taps of a smartphone.
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Aside from transferring money, this peer-to-peer payment app allows users to invest in stocks and Bitcoin. It also lets users open a Cash App bank account, which offers its own debit card.
Cash App offers several conveniences and moving money between accounts is chief among them. Here’s a closer look at how it’s done.
How To Set Up a Cash App Account and Transfer Your Money
If you want to start using Cash App for your financial activities, you’ll need to download the app and open an account. Here are the steps you need to follow.
1. Create an Account
You can download Cash App from either the Apple App Store or Google Play, depending on the type of smartphone you have.
Opening the app will prompt you to provide your phone number or email address. Once that’s submitted, Cash App will send a secret code to you — a text if it was a phone number, a message if it was an email address. You must then input the code into the app and follow the prompts for linking a debit card or a bank account to Cash App.
2. Link Your Bank Account to Your Cash App Account
Before money can be moved from Cash App to an external bank account, the account must be linked to the platform.
Follow these instructions:
- Launch Cash App on a mobile device.
- Press the Profile Icon on the home screen.
- Select “Linked Banks” and then tap “Link Bank.”
- Follow the prompts to enter the bank account information and link the account.
After that information is provided, you will need to pick a $Cashtag — a username to send and receive money — and provide your zip code. Once that’s done, the new account is created and you are ready to start sending and receiving cash.
3. Deposit Money Into Your Cash App Account
Once the account is created, you’ll be able to receive money from other users or transfer money into your Cash App balance from your linked bank account. New users can send up to $1,000 during a rolling 30-day period. Sending or receiving more than that will prompt Cash App’s security feature to verify your identity. Some information you’ll need to provide for identity verification includes your full name, date of birth and Social Security number. Cash App may request additional information as well.
Accepting payments from other users is automatic — they should appear in your account almost immediately.
There are just a few steps to deposit mone into your Cash App.
- Tap the Banking tab, which is located on the Home Screen.
- Select the “Add Cash” option.
- Enter the exact amount you want to transfer and tap “Add.”
Once those three steps are complete, Cash App will prompt you to use Touch ID or enter your PIN to confirm the transaction.
Cash App balances are only FDIC-insured if the account is linked to a Cash Card. If you don’t have a Cash Card, be careful about leaving too much money in your Cash App account.
4. Learn How To Transfer Money From Cash App to Your Bank Account
Once a new bank account is set up and verified, you can transfer money from Cash App to your linked bank account.
To move funds, open the app and:
- Tap the Balance tab on the home screen.
- Select the “Cash Out” option.
- Enter the amount you want to transfer and select “Cash Out.”
- Choose a deposit speed.
Once those steps are complete, Cash App will require you to confirm the transaction with a Touch ID or a PIN. Standard deposits take between one and three days to clear. You can choose an instant transfer for a fee, which varies from 0.5% to 1.75% of the amount.
How To Transfer Money From Cash App to a Different Bank Account
If you want to transfer money from your Cash App to a bank account other than the account you originally linked to Cash App, you’ll need to replace the linked bank account with a new one.
To do this, you must open Cash App and:
- Tap on the Profile Icon on the home screen.
- Choose the “Linked Banks” option.
- Select the registered bank account.
- Tap “Replace Bank” and follow the prompts.
After updating your details, your Cash App account will list it as your main external bank account.
Limitations to Amounts You Can Transfer Through Cash App
The maximum amount of money you can send or receive in total through an unverified Cash App account is $1,000 over a 30-day period. However, Cash App will increase your transfer limits if you go through their identity verification process.
After successfully verifying your identity, Cash App will provide you with higher limits. You’ll be able to receive an unlimited amount of funds and send sums that exceed $1,000, though Cash App no longer specifies this limit in its Terms of Service. You can view your current sending and receiving limits by navigating to the profile icon in Cash App and selecting “Limits” under your “Account & Settings” tab.
Other Ways To Transfer Money
Cash App isn’t your only option for moving money between accounts. Other apps and bank-to-bank transfers may be easier, depending on the amount of money and where you’re moving it to and from.
Transfers from Other Peer-to-Peer Apps to a Bank Account
Several other peer-to-peer payment apps provide the ability to transfer money just like Cash App does, including:
While each app will have a different interface, most allow the transfer of money in much the same way. Much like Cash App, linking a bank account is likely necessary across all of these platforms before funds can be transferred.
Bank-to-Bank Transfers
There are a few different methods for bank-to-bank transfers.
- Transfers between accounts owned by the same person: Account holders can transfer money between two of their own accounts by linking the accounts and initiating an external transfer.
- Wire transfers: Wire transfers predate apps and online banking tools, but many banks now allow wire transfers via online banking.
- Paper checks: There is still the option to write a check to transfer money. You can write a check, enter their own name as the payee and deposit the check into another account.
Each bank’s app and online interface differ, but the steps to transferring money are similar.
Final Take
Transferring money from your Cash App account to your bank account is a quick and easy way to move your money with just a few taps on your phone — providing you already have an account and money in your Cash App balance. Transferring money to a different account adds a few steps and takes a little longer, but it is possible.
FAQ
Here are some of the most common questions asked by those looking to transfer money using Cash App.- How long does it take to transfer money from Cash App to a bank account?
- Cash App's standard deposits take between one to three days to clear. You can choose an instant transfer if you need the money immediately, but Cash App charges a fee between 0.5% and 1.75% of the amount.
- Why can’t I transfer money from Cash App to my bank?
- Cash App's developer, Block, Inc., may delay or limit money transfers at its discretion to guard against fraudulent behavior. Examples include: claims, chargebacks, reversals, penalties, fees, fines and other liabilities, according to the platform's Terms of Service. This may inadvertently stall or halt a legitimate money transfer on occasion.
- Can I link Cash App to my bank account?
- Yes, Cash App can be linked to an external bank account as well as a debit card.
- Does it cost money to transfer money from Cash App to a bank account?
- If you choose Cash App's standard transfer option to move money to your bank account, there is no fee. However, an instant transfer will result in a charge between 0.5% and 1.75% of the transfer amount.
Virginia Anderson contributed to the reporting for this article.
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