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Square's Cash App is a peer-to-peer payment app, like Venmo, that allows you to send and receive money with friends and family, without needing to have cash on hand or even be in the same room. It's perfect for things like splitting bills, chipping in for party snacks, or just splitting a meal. When someone sends you money on Cash App, it lives in the app. If you have a Square Cash Card, you can use it like a debit card and spend your balance anywhere that accepts Visa. However, if you don't have a Cash Card, or would simply rather transfer your balance back to your bank account, doing so is very simple, and can even be done instantly if need be. How to cash out on Cash App1. Open the Cash App on your iPhone or Android. 2. Go to the "Banking" tab by tapping the icon in the bottom-left corner (the icon looks like a house, or a bank.) Tap on the "Banking" icon at the bottom-left. Grace Eliza Goodwin/Insider3. Underneath your "Cash Balance," tap the button on the right that says "Cash Out." Tap "Cash Out." Melanie Weir/Business Insider4. The "Cash Out" menu will pop up with your full balance amount auto-selected for transfer. If you'd like to transfer less, use the touchscreen to type in the amount. 5. Once you've decided how much you want to transfer, tap "Cash Out" at the bottom. Enter the desired amount, then tap "Cash Out." Melanie Weir/Business Insider6. A pop-up will appear asking how you'd like to deposit the money. If you select "Standard," the money will take one to three days to appear in your account. If you need the money immediately, you can tap "Instant" for a 25 cent fee. Choose "Standard" or "Instant." Melanie Weir/Business Insider
Melanie Weir Freelance author Melanie Weir is a freelance author for Insider, mainly focusing on the Tech Reference section, but occasionally contributing to Lifestyle and Entertainment topics as well. She is also a freelance writer for ScreenRant, and is the Lead Weekend News Editor at TheThings.com. In her spare time she writes plays for both stage and screen. She can be reached at , or through LinkedIn. Read more Read less Insider Inc. receives a commission when you buy through our links.
Ridofranz / Getty Images/iStockphoto One of the most popular payment platforms available, Cash App makes moving money between accounts easy — done with a few taps of a smartphone. 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, and even borrow money. 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 Transfer Money From Cash App to Your Bank AccountSending and receiving money with Cash App is quick and easy, but users looking to transfer money from one bank to another need a slight workaround to do it. Here’s how it’s done. Before money can be moved from Cash App to an external bank account, the account must be linked to the platform. To Link a Bank Account To Cash App
Once a bank account is linked to Cash App, money can be transferred from Cash App to the account.
Step 1: Create an AccountAnyone looking to use Cash App to transfer money must first create an account with the platform. That’s done by downloading the app from either the Apple App Store or Google Play, depending on the type of smartphone used. Opening the app will prompt a new user to provide their phone number or email address. Once that’s submitted, Cash App will send a secret code to the contact option provided — a text if it was a phone number, a message if it was an email address. The user must then input that code into the app and follow the prompts asking them to link a debit card or a bank account to Cash App. According to the platform’s Terms of Service, only one eligible, external bank account can be linked to Cash App. This may seem inconvenient to those looking to transfer money from one bank to another, but a workaround does exist. At this stage, though, it’s recommended to enter the primary bank account — the one that’s got the money that will be transferred. After that information’s provided, the user will need to pick a $Cashtag — the username they’ll use to send and receive money — and provide their zip code. Once that’s done, the new account is created and the user is ready to start sending and receiving cash. Step 2: Have Cash in the Cash App AccountOnce 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 are only allowed to send up to £250 — roughly $314 — and receive up to £500 — around $630 — during a seven-day period. Sending or receiving more than that will prompt Cash App’s security feature to verify the user’s identity, asking them to provide their full name, date of birth and address. Accepting payments from other users is automatic — they should appear in your account almost immediately. There are just a few steps to deposit money from your bank account into your Cash App.
Once those three steps are complete, Cash App will prompt the user to use Touch ID or enter a PIN to confirm the transaction. While a user’s Cash App balance will display the deposited funds immediately, it may take a day or two for the transaction to clear with the bank. It is important to know that Cash App balances are only FDIC-insured if the account is linked to a Cash Card. If you don’t have the Cash Card, be careful about leaving too much money in your Cash App account. Step 3: Cash Out of Cash AppOnce a new bank account is set up and verified, a Cash App user can cash out of the platform to transfer money from Cash App to their linked bank account. To move out funds out of Cash App and into the bank account, a user needs to open the app and:
Once those steps are complete, Cash App will require a user to confirm the transaction with Touch ID or a PIN. Standard deposits take between one and three days to clear. Transferring To a Different Bank AccountIf 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 the new one. To do this, a user needs to open Cash App and:
Once the bank information’s changed, your Cash App account will list it as the user’s main external bank account. You will likely have to verify the bank account through Cash App, which may take a day or two. Once that’s done, the account can be used to send and receive money with Cash App.
Other Ways to Transfer MoneyCash 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 AccountSeveral 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 TransfersThe bank-to-bank transfer is initiated from one bank to another, with funds typically deposited after two or three business days, depending on the bank’s policies. There are few different methods for bank-to-bank transfers.
Each bank’s app and online interface differ, but the steps to transferring money are similar. Final TakeTransferring money from your Cash App account to your bank account 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. FAQHere are some of the most common questions asked by those looking to transfer money using Cash App.
Editorial Note: This content is not provided by Cash App. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by Cash App. Does Cash App accept bank transfer?Transfer Money
You can keep it there or transfer it to your linked bank account. Cash App charges a fee for instant transfers (0.5% to 1.75% of the transfer amount, with a minimum fee of $0.25), but you can also choose a no-fee standard transfer, which typically takes one to three business days to complete.
Why can't I transfer money to my Cash App?If you can't add money to it means the Cash App server may be down. It can also be due to many other reasons such as card not being supported or expired, outdated Cash application on the mobile device, and weak internet link.
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