How To Withdraw Money From Cash App Account [Using A Bank Account]
Nowadays, money transactions and banking have become easier due to the availability of mobile apps which support financial transactions online without necessarily going to a bank to cash out or deposit. Mobile Apps like venmo, cash App, PayPal are use to buy stocks and make payments.
In this article, we look focus on Cash App and how to transfer money from cash app into a bank.
It is very possible to make financial transactions through Cash app to your bank. But What is Cash App?
What is Cash App?
Cash App is a peer-to-peer payment app that allows you to send and receive money from friends and family through your android or iPhone without necessarily have physical cash as hand. It is one of the most popular apps nowadays due to the fact that it makes money transfer easy and secure.
When you get money via Cash App, it is saved in the app wallet. You can then transfer the money into your your account number or use the Cash Card to withdraw the money. However, if you don't have a cash card, you can rather transfer your balance to your bank account and this is very simple.
To be able to transfer money from cash app to your bank account, you most have downloaded, installed and have a cash app account.
Firstly, you need to download the Cash App and install on to your android or iPhone from Apple play store or Google play store.
The second thing to do is to create an account on Cash App using the following steps:
- Tap on Cash App on your phone to launch it
- To create an account, enter your phone number or email address
- Cash App will send you a secret code through text or email which you will enter the code in the space provided.
- You can invite friends to sign up with Cash App to earn cash (optional)
- Enter your debit card information to link your bank account to Cash app
- Pick a $Cashtag- a unique username that you will use to send and receive money
- Enter your Zip code and then you are ready to start using the App.
How To Withdraw Money From Cash App to A Bank Account
To withdraw money from Cash App into your bank account, the following detail steps are required;
- Open the Cash App on your Android or iPhone
- Go to the "Banking" tab by tapping the icon in the bottom-left corner (the icon looks like a modern house)
- Underneath your "Cash Balance" tap the button on the right that says "Cash Out". Do not click on "Add Cash"
- The 'Cash Out' menu will pop up with the full balance amount auto-selected for transfer. If you'd like to transfer less, use the touch screen to type in the amount
- Once you have decided how much you want to transfer to your bank account, tap "Cash Out" at the bottom
- A pop-up will appear asking how you will like to deposit the money to your bank account. You are oblige to choose either "Standard" or "Instant" deposit. For standard deposits, it will take at most three days for the money to appear in your account and no fee is applied but with instant deposit it requires immediate deposit at a fee of 0.5% to 1.75%(minimum of 25 cent, $0.25).
How long does it take to withdraw Money from Cash App to Bank account?
The amount of time required will depend on the withdrawal option that you choose. If you choose the standard option, it will take between one to three business days and requires no charges to be paid and if you choose the instant withdrawal, cash app will deposit the money requested instantly to your account and a fee will be levied on you will is about $0.25.
Can l Transfer Money Using Cash App to Africa?
No. with Cash App, you can send money to users in the United states of American and the United kingdom. If you are sending funds from the US to the UK, the company( Block, previously known as Squares) will automatically convert the money from USD to GBP( depending on the mid-market current exchange rate). Looking at things we are sure the American base company will expand it services to other parts like France in years ahead.
However, we have have other platforms like Taptap Send, Wise, Western Union and Express Union that permit such Transfers.
Can I Withdraw money From Cash App at ATM?
Yes, you can withdraw money from Cash App at ATM if you have a debit card that is linked to your Cash App account. But some fees may be applied.
Cash App charges $2 for each ATM withdrawal using a cash card. However if you have received at least a $300 in direct deposit payments into your account, the company will reimburse three ATM fees per 31 days( which is up to $7 per withdrawal).
- How To Transfer Money From Bank Account To Cash App [Ultimate Guide]
- How Do I Transfer Money From My Bitsika Wallet To A Mobile Money Account Or A Bank Account ?
- How To Use A Cash Card Or An External Bank Account To Cash Out On Cash App
- How To Add Money To The Cash App Without Using A Debit Card
Bottom Line On How To Withdraw Money From Cash App To Bank Account
Transferring funds from Cash App to your bank account is simple, but it now depends on the withdrawal method you select.